THE SPECIFICITY OF THE BUSINESS COMPETITIVE STABILITY FORMATION ON THE BASIS OF THE INTERNAL COMPANY’S AUDIT

T. G. Filosofova () and I. Karzunke ()

Russian Journal of Industrial Economics, 2015, issue 4

Abstract: The article is devoted to problems of competitive stability of the modern business. The analysis of the basic theoretical concepts in application of different terms used in the of market competition theory is given. The conditions are presented, the analysis of which allows to define the specific content of market competition. Special features and the proposed interpretation of the term «competitiveness» and the definition of the term “competitive stability of business» are presented. It is shown that for the currently unstable economy, the competitive stability of the business is based largely on the maximal use of available reserves of the company. The value of the internal company audit system supporting the business competitive stability is proved. It is shown that an important part of internal audit becomes evaluation of the functioning of the risk management system on the basis of its comprehensive analysis, with the subsequent development of recommendations on improving the effectiveness of economic activity. The authors highlight the key principles of designing and implementing a system of internal audit and its purpose. For the creation of competitive stability of business large companies with well-developed branch network must create an effective a common system of internal audit, including its different versions. Unlike other control systems the internal audit complies with the concept of integrated management on all stages of the product life cycle, which makes it possible to ensure efficient use of company resources in all departments and across the entire chain of the production cycle, thus creating the competitive stability of the business.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2015:id:231

DOI: 10.17073/2072-1633-2014-4-72-79

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