FOREIGN ECONOMIC POTENTIAL OF ENTERPRISES AND ITS IMPROVEMENT IN THE CONDITIONS OF MODERN TRANSFORMATIONS OF THE BUSINESS ENVIRONMENT

Author

, PhD in Economics, Associate Professor, Associate Professor of the Department of International Business and Consulting, Ukraine, Kharkiv
, associate professor, Kharkiv, Pletnovsky 5

In heading

Economic theory;

Signed print

19.12.2024

Issues number

2024 - №4 (59)

Page

24-38

Type of articles

Scientific article

Code UDK

339.9:[658:330.341.1]

ISSN print

2411-5584

Abstract

Problem setting. Transformations of the modern business environment of business entities are fundamentally changing the architecture of international economic relations, which necessitates the implementation of innovative business models and processes of foreign economic activity of enterprises and requires a radical renewal of their foreign economic potential.
Recent research and publication analysis. Currently, in studies of theoretical and applied aspects of foreign economic activity of enterprises, its potential, its modern transformations and models have not yet been identified as a special object of scientific analysis.
Paper objective. The purpose of the article is to substantiate the theoretical and applied foundations of the development of the foreign economic potential of an enterprise as an integral socio-economic system in the conditions of modern social transformations.
Paper main body. In order to achieve the goals of the systematic analysis of foreign economic potential, it is advisable to supplement the resource-result and functional-target approaches with a subject-target approach, according to which the components of the foreign economic potential of enterprises are the potentials of foreign trade activity and investment and production foreign economic activity of enterprises.
Conclusion of the research. The interrelated areas of improving the foreign economic potential of enterprises in the context of modern transformations of its global and local business environment are:
1. Optimization of the structure of the potential of foreign economic activity of enterprises in accordance with its modern directions, forms and types.
2. In order to ensure balance and a positive balance of exports and imports, improving the export-import potential of domestic enterprises by implementing innovative models of foreign trade relations, in particular e-commerce, improving the quality and return on resources of foreign trade operations, etc.
3. Increasing the level of production and investment potential of enterprises, which will ensure increased participation of Ukrainian business in various forms of international cooperation.
4. Achieving positive synergy in the implementation of export-import and productioninvestment potentials of foreign economic activity of enterprises, ensuring their interaction and complementarity as factors of its efficiency and development.
Short Abstract for an article
Abstract. The feasibility of a subject-target approach to determining the structure of the foreign economic potential of an enterprise in accordance with the forms and types of foreign economic activity is substantiated in the article. On this basis, the main components of foreign economic potential – export-import and production-investment potentials are identified and characterized. The directions for improving the potential of foreign economic activity of domestic enterprises in the conditions of modern changes in its business environment are substantiated. The need to ensure positive synergy of the interconnected influence of export-import and production-investment potentials on the efficiency and development of foreign economic activity of enterprises is proven.

Keywords

foreign economic activity, foreign economic potential of the enterprise, subject-specific approach, export-import and production-investment potentials of the
enterprise’s foreign economic activity, transformations of the business environment of foreign economic activity.

Reviewer

External reviewer

Article in PDF

Economic Theory and Law, 2024-4-24-38

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Code DOI

https://doi.org/10.31359/2411-5584-2024-59-4-24

This post is also available in: Ukrainian

19.12.2024