Abstract
The most optimal multi-component algorithm for assessing and managing the level of financial potential has been developed based on the analysis of the integral indicator, which is an aggregate indicator of the financial condition, liquidity, solvency, profitability and competitiveness of enterprise under the existing market conditions. During the analysis and study of the financial potential of tourism and hospitality enterprises, it is determined that it is advisable to divide the concept into financial potential of sustainability and financial potential of development, and it is found that the latter is significantly influenced by direct and indirect environmental factors. In view of this, the most significant factors influencing the level of financial potential of an enterprise in the process of realization of its strategic goals and prospective development opportunities have been analyzed and identified. In addition, a list of possible measures aimed at increasing the level of financial potential of tourism and hospitality enterprises has been developed. It has been established that the financial potential of enterprises in the field of tourism and hospitality is one of the key factors that characterize entrepreneurial activity in accordance with the available financial resources, financial condition and competitive market positions of the subject of economic relations, as well as development opportunities and promising areas of activity in conditions of dynamic and unstable economic environment. The value is in the formation of a methodology for assessing the level of financial potential and developing possible actions to improve it. Further research is proposed to be carried out in the context of developing scientific and methodological provisions for optimizing the structure of the financial potential of tourism enterprises in the process of implementing strategic goals of functioning, as well as the prospects for applying GAP analysis to identify and decompose internal strategic gaps by the constituent elements of financial potential.
Sign-in/Register to access full text options 
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: Herald of Khmelnytskyi National University. 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.
