Energy-efficient technologies and their place in the anti-crisis strategy deals with reduction of production costs on the enterprise

Kotenko Oleksandr
Candidate of Economic Sciences, Senior Vykladach, Department of International Economic Studies, Sumy State University, e-mail:alex_kotenko@ukr.net

Domashenko Maryna
Candidane of economic sciances, Аssistante of professor, Sumy State University, e-mail:687737fem@gmail.com

Kotenko Yuliia
Physics teacher, Sumy gymnasium №1, e-mail:alex_kotenko@ukr.net

Cite this article:

Kotenko, O., Domashenko, M., Kotenko, Y. (2018). Energy-efficient technologies and their place in the anti-crisis strategy deals with reduction of production costs on the enterprise. Ed.: М.D. Baldzhy (ed.-in-ch.) and others [Systema pensiinoho zabezpechennia Ukrainy ta yevrointehratsiini protsesy; za red.: М. D. Baldzhy (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 6-7 (258-259), pp. 90-112.

Abstract

The article is devoted to highlighting the place for the process of energy-efficient technologies implementation during formation an counter crisis strategy at modern enterprise. Such technologies, in author’s opinion, would allow the gradual reduction of production costs for goods, and thus released financial resources. Particular idea is based on the principle: "saved money – earned money". This will create opportunities to partly influence the economic cycle of the enterprise. The article also emphasizes that the introduction of such an anti-crisis policy has an opposite side: firstly, the introduction of energy efficient technologies is a process that requires significant investments; secondly, and therefore, such an introduction can have a positive effect only in the phase of economic recovery, which means that the firm's counter crisis strategy should be exclusively preventive; thirdly, a certain leveling of the economic cycle will not only smooth the downturn, but also the development, and therefore, the firm will provide financial stability, but will lose the opportunity to sharply increase the economic growth pace. As energy-efficient technologies, the article provides: technologies using energy (heat exchangers, variable speed motors, energy saving lighting devices, technologies using compressed air and steam); generating energy (technologies working on the principle of coherence and trigeneration); alternative energy sources. Using the undeniable advantages provided by these technologies will greatly increase the efficiency and potential of their implementation, since, in the author’s opinion, in this context, it will have not only the energy savings goal but also is aimed at maintaining financial stability of the enterprise, regardless the state in the external economic environment. In practice, this can be achieved through the formation of a specialized counter crisis depreciation fund (buffer) at the enterprise, which can be replenished with released funds from savings. This will ensure the possibility to further financing energy saving projects and to overcome financial problems, which the company could not predict in advance.

Keywords

crisis management, counter crisis strategy, energy efficient technologies, production costs, international business, counter crisis amortization buffer.

JEL classification: L100; D570

UD classification: 338.512:[620.9+005.21+339.7

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