BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

The Theoretical and Methodological Principles of the Value-Oriented Approach to Business Management
Zakharkina L. S., Saltykova H. V., Novikov V. M.

Zakharkina, Liudmyla S., Saltykova, Hanna V., and Novikov, Volodymyr M. (2021) “The Theoretical and Methodological Principles of the Value-Oriented Approach to Business Management.” Business Inform 7:169–177.
https://doi.org/10.32983/2222-4459-2021-7-169-177

Section: Economics of Enterprise

Article is written in Ukrainian
Downloads/views: 4

Download article (pdf) -

UDC 65.015.3(045)

Abstract:
The research is aimed at analyzing the value-oriented conceptions of business management and studying the possibility of their implementation in the activities of Ukrainian enterprises. The carried out analysis of the literature shows the considerable attention paid by the scientific community to the issue under research, since the use of value-based conceptions in Ukrainian realities is quite problematic due to a lack of understanding of their specifics and features. The publication carries out a chronological analysis of the interpretation of the essence of the conception of «business value» by various scientists during 2011-2020. The value of the business is a volume-based indicator, thanks to which it is possible to understand the further prospects of the enterprise development and its investment attractiveness. According to theoretical research, the value of business is understood as the value of invested labor and labor resources; as the results obtained by the company from operational, investment and financial activities; as an expression of the price at which the company positions itself in the market and can potentially be reorganized. The value-oriented management should be applied at all levels – from operational to strategic. It is determined that career growth, an effective system of motivation, exchange of information and knowledge are among the few factors that affect the formation of the value of enterprise. Among the methodological approaches that allow to conduct a thorough assessment of the value of business, attention is focused on earnings, value-based, market-based and optional methods. Prospects for further research relate to a more detailed analysis of the specifics of value-oriented conceptions and analysis of domestic market conditions for the possibility of spreading the value-based management approach among managers of Ukrainian companies.

Keywords: value of business, value-oriented management, value of capital, strategic value, business processes, market assessment of value.

Fig.: 2. Tabl.: 2. Bibl.: 28.

Zakharkina Liudmyla S. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance and Entrepreneurship, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Saltykova Hanna V. – Candidate of Sciences (Economics), Associate Professor, Senior Lecturer, Department of Finance and Entrepreneurship, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Novikov Volodymyr M. – Postgraduate Student, Department of Finance and Entrepreneurship, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]

List of references in article

Hlotova, D. “Kontseptualni zasady vartisno-oriientovanoho upravlinnia pidpryiemstvom“ [Conceptual Positions of the Value-Based Approach to the Management of an Enterprise]. Ekonomichnyi analiz, vol. 3, no. 12 (2013): 76-79.
Kushnirenko, O. M. “Udoskonalennia mekhanizmu upravlinnia biznes-protsesamy v umovakh posylennia tekhnolohichnykh vyklykiv“ [Improving the Mechanism of the Business Process Management in the Context of Increasing Technology Challenges]. Skhidna Yevropa: ekonomika, biznes ta upravlinnia, no. 1 (2020): 64-70. DOI: https://doi.org/10.32782/easterneurope.24-9
Romanchyshyn, V. O., and Umantsiv, H. V. “Transformatsiia vartosti pidpryiemstva v umovakh stanovlennia ekonomiky znan“ [Transformation of the Enterprise Cost in Conditions of Knowledge Economics Formation]. Ekonomichnyi visnyk universytetu, no. 41 (2019): 57-67. DOI: https://doi.org/10.31470/2306-546X-2019-41-57-67
Kostyrko, L. A., and Kuksa, I. M. “Priorytety formuvannia mekhanizmu vartisno-oriientovanoho upravlinnia finansamy pidpryiemstv“ [Priorities of Formation of the Mechanism of Cost-oriented Management of Finances of the Enterprises]. Chasopys ekonomichnykh reform, no. 2 (2018): 58-65.
Shcherban, O. D., and Nevdachyna, I. O. “Teoretychni aspekty vyznachennia sutnosti ta struktury kapitalu pidpryiemstva“ [Theoretical Aspects of Definition of Nature and Structure of the Capital of an Enterprise]. Pryazovskyi ekonomichnyi visnyk. 2019. http://pev.kpu.zp.ua/journals/2019/3_14_uk/49.pdf
Kreidych, I. M., and Haharin, A. O. “Problemy ekonomichno oriientovanoho upravlinnia rozvytkom pidpryiemstva“ [The Problems of Value-Oriented Management of Enterprise Development]. Ekonomichnyi visnyk NTU «KPI». 2016. https://ela.kpi.ua/bitstream/123456789/18343/1/32Kreidych.pdf
Synihovets, O. M. “Suchasni pidkhody do otsinky efektyvnosti diialnosti pidpryiemstva“ [Modern Approaches to Assessing the Effectiveness of the Enterprise]. Visnyk NTU «KPI». 2010. http://repository.kpi.kharkov.ua/bitstream/KhPI-Press/28944/1/vestnik_KhPI_2010_58_Synihovets_Suchasni.pdf
Kryvoviaziuk, I. V., and Burban, O. V. “Ekonomichna sutnist poniattia «vartist pidpryiemstva» ta determinanty yii zrostannia“ [Economic Essence of "Enterprise Value" Concept and Its Growth Determinants]. Ekonomika ta derzhava, no. 10 (2020): 99-104. DOI: 10.32702/2306-6806.2020.10.99
Davydov, O. I. “Problemy ta perspektyvy zastosuvannia kontseptsii upravlinnia vartistiu pidpryiemstv v Ukraini“ [Problems and Prospects of the Application of the Enterprise Value-Based Management Concept in Ukraine]. Marketynh i menedzhment innovatsii. 2016. https://mmi.fem.sumdu.edu.ua/sites/default/files/mmi2016_1_170_182.pdf
Sotnikov, A. V. “Osnovni pidkhody ta metody otsinky vartosti pidpryiemstv“ [Basic Approaches and Methods of Estimating the Value of Enterprises]. Visnyk NTU «KPI». 2015. http://repository.kpi.kharkov.ua/bitstream/KhPI-Press/21666/1/vestnik_KhPI_2015_61_Sotnikov_Osnovni_pidkhody.pdf
Loiko, V. V., and Kalabukhova, A. V. “Otsinka biznesu yak instrument upravlinnia vartistiu pidpryiemstva“ [Business Valuation as a Tool of Managing Company Value]. Internauka. Seriia «Ekonomichni nauky», no. 8 (2015): 126-130.
Levchak, I. Ya. “Vartist pidpryiemstva yak kryterii efektyvnosti upravlinnia“ [The Value of the Enterprise as the Criterion of Management Efficiency]. Naukovyi visnyk Uzhhorodskoho universytetu. Seriia «Ekonomika». 2014. https://dspace.uzhnu.edu.ua/jspui/bitstream/lib/14759/1/ВАРТІСТЬ%20ПІДПРИЄМСТВА%20ЯК%20КРИТЕРІЙ%20ЕФЕКТИВНОСТІ%20УПРАВЛІННЯ.pdf
Nusinova, O. V. “Vartist pidpryiemstva yak pokaznyk rezultativ diialnosti“ [The Value of the Enterprise as an Indicator of Performance]. Naukovyi visnyk Uzhhorodskoho universytetu. Seriia «Ekonomika». 2011. https://dspace.uzhnu.edu.ua/jspui/bitstream/lib/5338/1/ВАРТІСТЬ%20ПІДПРИЄМСТВА%20ЯК%20ПОКАЗНИК%20РЕЗУЛЬТАТІВ%20ДІЯЛЬНОСТІ.pdf
Rappaport, A. Creating Shareholder Value: A Guide for Managers and Investors. New York: Free Press, 1998.
Davydenko, N. M., and Kulbach, Yu. O. “Teoretychni aspekty sutnosti vartosti pidpryiemstva“ [Theoretical Aspects of the Nature of Enterprise Value]. Ukrainskyi zhurnal prykladnoi ekonomiky. 2017. http://ujae.wunu.edu.ua/index.php/ujae/article/view/136
Lukach, A. M., and Stavytskyi, O. V. “Metody otsinky rynkovoi vartosti pidpryiemstva v umovakh suchasnoi ekonomichnoi sytuatsii“ [Business Valuation Methods in the Conditions of the Modern Economic Situation]. Aktualni problemy ekonomiky ta upravlinnia. 2018. http://ape.fmm.kpi.ua/article/view/130927
Bahatska, K. V. “Kapitalizatsiia pidpryiemstva yak kliuchova katehoriia vartisno-oriientovanoho upravlinnia“ [Enterprise Capitalization as a Key Category of Value Based Management]. Naukovyi visnyk Uzhhorodskoho universytetu. Seriia «Mizhnarodni ekonomichni vidnosyny ta svitove hospodarstvo». 2015. http://www.visnyk-econom.uzhnu.uz.ua/archive/3_2015ua/4.pdf
Chut, M. A. “Kontseptsiia stratehii vartisno-oriientovanoho upravlinnia pidpryiemstvom“ [The Concept of Cost-Oriented Enterprise Management Strategy]. Problemy i perspektyvy ekonomiky ta upravlinnia, no. 1 (2019): 114-121. DOI: 10.25140/2411-5215-2019-1(17)-114-121
Hrapko, N. V. “Vartisno-oriientovanyi pidkhid v upravlinni finansamy pidpryiemstv“ [Cost-oriented Approach in Enterprise Financial Management]. Naukovi pratsi KNTU. Seriia «Ekonomichni nauky». 2010. http://www.kntu.kr.ua/doc/zb_17_ekon/stat_17/35.pdf
Orlykovskyi, M. O., and Trokoz, D. I. “Novitni kontseptsii upravlinnia efektyvnistiu diialnosti suchasnykh pidpryiemstv“ [The Last Concepts of Performance Management of Modern Enterprises]. Efektyvna ekonomika. 2014. http://www.economy.nayka.com.ua/?op=1&z=3034
Kolos, I. V. “Obgruntuvannia kliuchovykh chynnykiv vartosti pidpryiemstva“ [Substantiation of Key Factors of Enterprise Value]. Ekonomika ta derzhava. 2006. http://dspace.nuft.edu.ua/jspui/bitstream/123456789/22143/1/Kolos-2006-5.pdf
Kutsyk, V. I., and Yavtukhovska, I. V. “Metody ta pidkhody do otsinky vartosti pidpryiemstva: teoretychnyi aspekt, problemy yikh vykorystannia“ [Methods and Approaches to the Company Valuation: Theoretical Aspect, Problems of Their Use]. Visnyk Lvivskoi komertsiinoi akademii. Seriia ekonomichna, no. 48 (2015): 82-87.
Koval, I. F. “Otsinka vartosti kompanii: metodychni pidkhody ta zastosuvannia“ [Valuation of Companies: Methodological Approaches and Applications]. Molodyi vchenyi, no. 4 (2017): 665-668.
Zavorotnii, R. I. “Metodolohiia otsinky vartosti pidpryiemstv, shcho perebuvaiut u tryvalii finansovii kryzi“ [Methodology of Valuation of Enterprises Which Are in Long Financial Crisis]. Finansy Ukrainy. 2015. https://ir.kneu.edu.ua/bitstream/handle/2010/27486/Fu_2015_2_9.pdf?sequence=1&isAllowed=y
Kulbach, Yu. O. “Mekhanizm upravlinnia vartistiu pidpryiemstva“ [Mechanism of Management of Enterprise Cost]. Investytsii: praktyka ta dosvid. 2017. http://www.investplan.com.ua/pdf/23_2017/16.pdf
Hryniuk, I. M. “Upravlinnia vartistiu pidpryiemstva yak skladova zahalnoi kontseptsii upravlinnia: zakordonnyi dosvid“ [Enterprise Value Management as a Component of the General Management Concept: Foreign Experience]. Upravlinnia proektamy ta rozvytok vyrobnytstva, no. 2 (2017): 59-65.
Bahatska, K. V. “Teoretychni osnovy i praktychni aspekty vartisno-oriientovanoho pidkhodu v upravlinni finansamy“ [The Theoretical Foundations and the Practical Aspects of the Value Based Management in Finance]. Visnyk Skhidnoievropeiskoho universytetu ekonomiky i menedzhmentu. 2010. http://dspace.nuft.edu.ua/jspui/bitstream/123456789/258/3/12010.pdf
Zakharkin, O. O. “Faktory formuvannia vartosti v konteksti vartisno-oriientovanoho pidkhodu upravlinnia pidpryiemstvom“ [Factors of Value Formation in the Context of Value-oriented Approach to Business Management]. Biznes Inform. 2014. https://www.business-inform.net/export_pdf/business-inform-2014-7_0-pages-208_214.pdf

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster