Classification of factors influencing the foreign economic activity of enterprises

Abstract

Introduction. While providing foreign economic activity, enterprises have many problems, which can lead to loss of their financial stability and even bankruptcy. That is why, especially in periods of crisis it is very important to identify factors that affect the efficiency of foreign economic activity of companies. The purpose of the work is to systematize the modern researches and to improve the classification of factors influencing the foreign economic activity of economic entities to ensure their sustainable development. Results. The article is devoted to the study of the factors influencing the foreign economic activity of enterprise. Based on the systematization of the views of the majority of authors, it was determined that today there is no generally accepted classification of factors affecting foreign economic activity. Most researchers divide impacts on foreign economic activity on the external and internal, the difference is only in the number and types of factors. Due to the critical analysis of the modern researches, the authors identified a number of advantages and disadvantages in the classifications of factors affecting foreign economic activity. According to the results of the study, a classification of factors of influence on foreign economic activity is proposed, which contains 5 criteria: source of origin, management capability, type of foreign economic activity, the specificity of the impact, the nature of the impact on foreign economic activity effectiveness. Conclusion. Other classification criteria such as time lag, degree of predictability, coverage, etc. should also be taken into account by management during the formulating a strategy for the development of foreign economic activity enterprises, but these characteristics do not reveal the specifics of foreign economic activity of economic entities. The proposed classification can be the basis for further research, that identified the types of risks of foreign economic activity. The generalization and systematization of the theoretical foundations on this issue is of practical value and will help to identify the main ways of forming an effective strategy for the development of enterprises in foreign markets.