Economic content of the enterprises efficiency

Abstract

Improvement of activity efficiency is one of the main factors in the companies development in the current crisis, which is caused by Russian aggression and the consequences of the pandemic. The results of the analysis of the essence of «enterprise efficiency» concept indicate the presence of significant number of opinions of scientists on the content of this concept in the absence of a single common definition. The initial number of opinions of scientists regarding the content of «efficiency» concept is analyzed. This concept always remains close in its meaning to the concept of effectiveness and indicates the results of activity, the basis for evaluating the company's activity, its competitiveness and characterizes the peculiarities of work. This economic category expresses the relationship between the final result of production – the effect and the total costs of production. The paper summarizes the opinion of a number of scientists in approaches to determining efficiency, which express an understanding of efficiency as an economic category, which is the effectiveness of the functioning of the system and is calculated as the ratio of the obtained result (effect) to the expenditure of funds and resources. It is also established that efficiency comes from the word effect, which characterizes the change in the state of any object or system under the influence of internal or external cause. The main scientific approaches to the interpretation of the essence of economic efficiency are systematized and it is established that most authors, in their formulations of economic efficiency, understand this category as the ratio of the effect to the costs or resources that are spent to obtain it, that is, the efficiency criteria are formed on the basis of cost and resource approaches. The effect of production is investigated, the general expression of which is the economic effect, which directly reflects changes in labor and means of production, and indirectly – socio-economic changes. The definition of «efficiency of the enterprise's activity» concept is clarified due to the consideration of the main properties of the studied definition, the dependence of the enterprise's activity efficiency on all resources and reserves. The main indicator of the efficiency of the enterprise's activity is its profit.