| Issues | Sections | Authors | Keywords |
Article
| Issue: | 2022 №1 (77) |
| Section: | Finances |
| UDK: | 336.144.2:005.34 |
| DOI: | https://doi.org/10.33271/ebdut/77.140 |
| Article language: | Ukrainian |
| Pages: | 140-146 |
| Title: | Role of financial planning in making managerial decisions |
| Author: | Shtefan N. M., Dnipro University of Technology |
| Annotation: | Methods. The theoretical and methodological basis of the study were the works of domestic and foreign scientists on the study of innovation and investment activities planning for enterprises, its role in modern economic conditions. In order to achieve this goal, the authors use general scientific and special methods: theoretical generalization – to study the process of innovation and investment activities planning for the enterprise; formalization (for setting the task of mathematical modeling); logical analysis − in the formation of ways to improve the management of investment activities of enterprises. Results. Financial planning as an element of enterprise management includes the following stages: problem statement; performance evaluation; application of alternative solutions to problems; decision making; implementation of the plan; control. Financial planning in modern conditions should be understood not only as drawing up a financial plan (plans) or forecasting financial results, but also the process of preparing and making management decisions that affect the amount of financial resources, as well as the values of enterprise indicators in the planning period that provides solving tasks in the most rational way to achieve the goals in the long run by agreeing on the sources of financial resources and directions of their use in accordance with the plans. In this case, financial planning is a tool to increase the effectiveness of the management decisions implementation, because it includes both stages of preparation and stages of implementation and control. Novelty. The management model and directions of improving the investment activities management of enterprises is suggested based on improving the decision-making process to maximize profits, which takes into account the lost opportunity to generate revenue when the implementation of one innovative project requires abandoning the implementation of another. Practical value. The use of economic and mathematical modeling in making investment decisions will improve the quality and efficiency of decisions made. |
| Keywords: | Financial planning, Management decisions, Economic and mathematical model, Target function, Investment management |
| File of the article: | EV20221_140-146.pdf |
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