Abstract
Modern conditions impose special requirements to the assessment of economic entities. Efficiency is an important parameter of the activity of any business. The present research involved a critical analysis of standard methods for assessing the effectiveness of both domestic and foreign practices. The analysis revealed a need to apply new approaches to business efficiency assessment because the standard approach is not systematic and its indicators repeat themselves. The article offers a new conceptual methodological approach to understanding the term efficiency. The new methodological concept is hybrid in nature and includes classical economic, financial, and institutional methods. It also adopts some methods and approaches from management and natural sciences. The authors built a comprehensive model for assessing the effectiveness of an economic entity in modern conditions. It is based on the idea that the optimal methods are those that do not use relative indicators. This model includes three levels of indicators: standard, qualitative, and synergistic. The new approach is systemic and corresponds to modern economic environment, which resolves the issue of relative performance indicators.
Highlights
The analysis revealed a need to apply new approaches to business efficiency assessment because the standard approach is not systematic and its indicators repeat themselves
The authors built a comprehensive model for assessing the effectiveness of an economic entity in modern conditions
The new approach is systemic and corresponds to modern economic environment, which resolves the issue of relative performance indicators
Summary
Improving the Methodology for Assessing the Effectiveness of Economic Entities in Modern Conditions Yuri Gagarin State Technical University of Saratov, Russia, Saratov; https://orcid.org/0000-0001-6278-3141; orekhovaea@sstu.ru Yuri Gagarin State Technical University of Saratov, Russia, Saratov; https://orcid.org/0000-0002-2917-5061 Accepted after peer review 6 Dec 2021.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
