The role of business planning in enterprise activities and international standards regarding its compilation

Yevtushenko Victoriya
Doctor of Economics, Professor of the Department of Marketing, Management and Entrepreneurship, VN Kharkiv National University Karazina, Kharkiv, E-mail: v.a.evtushenko@karazin.ua, ORCID ID: https://orcid.org/0000-0002-7764-2277

Kovalova Viktoriia
PhD in Economics, Docent, National University of Pharmacy, Kharkiv, E-mail: vikakova04@gmail.com, ORCID ID: https://orcid.org/0000-0003-1665-6971

Ihnatov Mykyta
master's degree, Department of Marketing, Management and Entrepreneurship, V. N. Karazin Kharkiv National University, Kharkiv, E-mail: ignirom@gmail.com, ORCID ID:

Cite this article:

Yevtushenko V., Kovalova V., Ihnatov M. (2022) The role of business planning in enterprise activities and international standards regarding its compilation. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [ARol biznes-planuvannia v diialnosti pidpryiemstva ta mizhnarodni standarty shchodo yoho skladannia; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 11-12 (300-301), pp. 89-96.

Abstract

In a market economy, entrepreneurs will not be able to organize stable activities of their business if they do not effectively and clearly plan their activities, constantly collect, process and accumulate information about the state of target markets, the state of competitors in them, opportunities and prospects for the development of this market. For every head of the enterprise, there is a need for a specific planning document that would provide a comprehensive assessment of the future business project and help in the implementation of the business idea, providing their planned «support». Such a planning document is a business plan, which is one of the types of technical and economic substantiation of activity, the structure of which is adapted to market requirements. The purpose of the article is the theoretical justification of business planning, the disclosure of the current practice of drawing up a business plan according to international standards, as well as the search for ways to improve this work at the enterprise. In the research process, general scientific and special techniques and research methods were used: comparison, elaboration, analysis, synthesis and generalization. The article analyzed the reasons for the need to draw up a business plan at an enterprise in modern business conditions. The main purpose of developing a business plan for different categories of its users is determined. In the process of research, distinctive features of a business plan that separate it from traditional plans were determined. The main tasks of business planning in modern conditions are analyzed. The main and specific functions of the business plan are considered. The structure and content of the business plan were compared according to various international standards such as: UNIDO, KPMG, EBRD (European Bank for Reconstruction and Development), TASIS, IFC.

Keywords

business plan, management, business planning tasks, business plan structure, international standards of business plan structure.

JEL classification: А200, М100, М130; DOI: 10.32680/2409-9260-2022-11-12-300-301-89-96

UD classification: 658.012

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