The organization approaches peculiarities of an industrial enterprises financial management

Mikhail Dudin (), Nikolaj Ljasnikov (), Magomedsaid Yahyaev and Aleksandr Kuznetzov
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Mikhail Dudin: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Academy of Entrepreneurship
Nikolaj Ljasnikov: Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Academy of Entrepreneurship
Magomedsaid Yahyaev: The Russian academy of enterprise
Aleksandr Kuznetzov: Moscow university of economics, policy and law

No 9, Published Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The actuality of a given research consists in a fact that a production plants financial management, under unstable and turbulently changing environment is exposed to transformation determining new peculiarities and specificity appearing. The aim of a given research is to find the financial management organization approaches in industrial production plants which are large corporate structures. Within the made research the following basic conclusions where made: - industrial plants financial relationships are characterized by multiplicity and multidimensionality of outer and inner connections which considerably increase the financial management risks. At the same time for financial and strategic development planning and modeling the new strategic development perspective development opens up on the basis of the current and potential risks; - an industrial plants financial management is a systematic process which has a strategic target setting and planning, organization, control, motivation, adaptation, coordination, prediction which are implemented by means of the basic management functions. Coordination, adaptation and prediction functions have the most important sense while possibilities and threatens connected with them are to be found. These functions determine further direction structuring of a plant evolving taking into account newly environment circumstances being opened; - the industrial plant financial management should be aimed at a stable intensive economic growth providing. Thereby, an industrial plants financial management is determined by total management efforts in operational and investing activity; - an industrial plants financial management should be based on an integrative-functional approach which allows to maximize economic profits and optimize loses. It provides an economic value forming as a result of a given market participant activity.

Keywords: financial management; economic growth; industrial plants; stable development; financial results (search for similar items in EconPapers)
Pages: 4 pages
Date: 2014
Note: Published in "Life Science Journal", #9'2014
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Citations: View citations in EconPapers (2)

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