Economic analysis of business entities: development prospects

Chernyshova Lyudmila
PhD in Economics, associate professor, associate professor of the Department of Economic Analysis, Odessa National University of Economics, Odesa, E-mail: liylek196322@gmail.com, ORCID ID: https://orcid.org/0000-0003-3213-6589

Cite this article:

Chernyshova L. (2022) Economic analysis of business entities: development prospects. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Ekonomichnij analiz sub’yektiv gospodaryuvannya: perpektivi rozvitku; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 8 (297), pp. 40-47.

Abstract

The purpose of the article is to study the specifics of the formation of the elemental system of economic analysis of business entities through the prism of its tasks, functions and principles and to develop its general model. The research was conducted using a comparative analysis of methods, functions and principles of economic analysis. The article describes the main types of modern economic analysis, namely: operational analysis, investment analysis, innovation analysis, diagnostic analysis, strategic analysis, marketing analysis, and functional-cost analysis. It has been proven that, like any system of scientific knowledge, economic analysis must contain an object, subject, functions, methods and certain subsystems, which ultimately allow identifying reserves for improving the efficiency of business operations by economic entities. The article proposes a system of economic analysis of business entities, which includes the following elements: subject, object, functions, methodical support, management parameters and strategic and systemic results. It is proven that the methods of economic analysis should be considered from the standpoint of the phases of the production and reproduction process of the enterprise, namely: determination of need, generation of ideas, evaluation of ideas (potential solutions) and results. Because of further research, it is recommended that in order to analyze the economic activity of enterprises and make effective decisions, such promising methods of economic analysis as: situational analysis, strategic analysis, ABC analysis, GAP analysis and institutional analysis need to be developed.

Keywords

ieconomic analysis, economic entities, subsystem of economic analysis, methods, principles, functions.

JEL classification: M400, M410; DOI: 10.32680/2409-9260-2022-8-297-40-47

UD classification: 3657.62

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