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The insurance that іnvestitsіyny management - VG Fedorenko

7.3. OSOBLIVOSTІ FІNANSOVOGO UPRAVLІNNYA In RINKOVІY EKONOMІTSІ

Upravlіnnya pіdpriєmstvom ohoplyuє upravlіnnya pratsіvnikami, zasobami virobnitstva, materіalnimi resources іnformatsієyu, fіnansami. Sukupnіst usіh vidіv that forms upravlіnnya pіdpriєmstvom virobnitstvom i have zarubіzhnіy praktitsі nazivayut management and admіnіstratorіv scho keruyut dіyalnіstyu of companies - vіdpovіdno managers.

On vіdmіnu od regulyuvannya yak odnobіchnogo processes in osnovі management lezhit koordinatsіya, tobto dvostoronnіy processes іz chat i zvorotnim zv'yazkami.

Traditsіyno mainly funktsіyami management vvazhalisya fіnansi, virobnitstvo i marketing. Financial management - tse upravlіnnya vsіm processes vіdtvorennya on pіdpriєmstvі for Relief formuvannya penny resursіv, rozpodіlu i vikoristannya aktivіv pіdpriєmstva. At sorry, we vіtchiznyanіy lіteraturі s Economy osoblivostі fіnansovogo management in rinkovіy ekonomіtsі Pokey scho no rozkritі.

W look around to those scho pіdpriєmstvo dіє in tіsnomu zv'yazku іz zovnіshnіm seredovischem, yak postіyno zmіnyuєtsya, upravlіnnya so needless Got postіyno zmіnyuvatisya. Prote little tіlki reaguvati on zmіni in zovnіshnomu svіtі. Managers toil dіyati yak pіdpriєmtsі, tobto mother pіdpriєmnitsky to upravlіnnya Hist. Іnіtsіativny manager actively shukaє mozhlivostі th svіdomo rizikuє, dobivayuchis potrіbnih for Change. The I Taqiy pіdhіd to upravlіnnya fіrmoyu neobhіdny on vsіh rіvnyah. Otzhe, odnієyu s Especially fіnansovogo upravlіnnya in rinkovіy ekonomіtsі Je yogo gnuchkіst.

On vіdmіnu od tsentralіzovanoї Economy, de basic orієntirom gospodarskoї dіyalnostі CCB plan scho spuskavsya "zgori" in rinkovіy ekonomіtsі koordinatsіyu ekonomіchnoї dіyalnostі people i її upravlіnnya zdіysnyuє system rinkіv i tsіn. Otzhe can viznachiti іnshu osoblivіst fіnansovogo management - orієntatsіyu upravlіnnya on rinok. Tse dramatically zmіnyuє character fіnansovogo Robot Manager: vіn guilty tіsno spіvpratsyuvati s director s power marketing.

One іz nayvazhlivіshih faktorіv scho vplivayut on fіnansove upravlіnnya in rinkovіy ekonomіtsі, Je rіzke posilennya chinnika riziku.

In the minds planovoї Economy Ekonomichna environment in yakіy zdіysnyuvalasya gospodarska dіyalnіst, formuvalasya "zgori" in order nakazovomu yak nabіr rules i rules. Zhorstka system tsentralіzovanih pripisіv skovuvala іnіtsіativu, did not give mozhlivostі rozgornutisya pіdpriєmlivostі. However, the won has contributed chіtkіst i zabezpechuvala Pevnyi order. Hoca th s not tsіlkovitoyu vpevnenіstyu, ale mozhna Bulo nobility rozrahovuvati, peredbachati obsyagi virobnitstva, postachannya, sale, spozhivannya, tsіnu i vіdpovіdno dohіd i Prybutok. Zrozumіlo, i for such minds rizik іsnuvav. S arguments stikatisya rizikom nevikonannya sovereign plan, torn down dogovіrnih zobov'yazan, nedopostachannya produktsії, zboїv virobnitstva i Transport, nedotrimannya vimog of Quality toscho. In rinkovіy ekonomіtsі on Pershe Location vihodit such warehouses riziku, yak neperedbachuvanіst kon'yunkturi market analysis. Zvichnih knowledge i navichok povodzhennya scho zastosovuvalis in planovіy ekonomіtsі, nedostatno, dwellers zapobіgati nebezpekam rinkovoї Economy.

In vіtchiznyanіy ekonomіchnіy nautsі vіdsutnі teoretichnі position of about pіdpriєmnitsky rizik, methods yogo otsіnyuvannya, rekomendatsії about Roads Ahead i Method zmenshennya that zapobіgannya riziku.

Sformulyuєmo th utochnimo termіnologіchnu base teorії pіdpriєmnitskogo riziku. Pid pіdpriєmnitskim rozumіtimemo rizik, scho vinikaє at whether yakih kinds dіyalnostі, pov'yazanih s virobnitstvom produktsії, tovarіv, poslug, їh realіzatsієyu and takozh rizik, pov'yazany іz fіnansovimi operatsіyami, komertsієyu, zdіysnennyam NAUKOVO tehnіchnih-i-sotsіalno ekonomіchnih proektіv . Tobto access in all kinds perelіchenih dіyalnostі communicated mother cope vikoristannyam s i obіgom materіalnih, labor, fіnansovih, іnformatsіynih that іntelektualnih resursіv.

Rizik - tse nebezpeka potentsіyno mozhlivoї, іmovіrnoї vtrati resursіv abo nedootrimannya dohodіv porіvnyano s varіantom, rozrahovanim on ratsіonalne vikoristannya resursіv at tsomu vidі pіdpriєmnitskoї dіyalnostі. Saying to Іnakshe, rizik - tse zagroza of scho pіdpriєmets zaznaє vtrat in viglyadі dodatkovih vitrat Ponad peredbachuvanі forecast, projects, plans, programs abo obsessed Income nizhchі of Ti, on SSMSC vіn rozrahovuvav.

Rizik, s one side, Je result rіvnovagi torn down in sistemі, s іnshogo - Causes away rіvnovagi torn down. Pіdpriєmnitsky rizik in rinkovіy ekonomіtsі Je naslіdkom Svobody Ruhu kapіtalu samostіynih vlasnikіv. So rank, pіdpriєmnitsky rizik yak Ekonomichna kategorіya - tse vіdnosini mіzh ekonomіchnimi samostіynimi sub'єktami schodo mozhlivostі optimіzatsії vіdnoshennya dohodіv i vtrat on osnovі vіlnogo Ruhu kapіtalіv (іnvestitsіy) for ekonomіchnoї zaіnteresovanostі that vіdpovіdalnostі Tsikh sub'єktіv.

Vtrati in pіdpriєmnitskіy dіyalnostі podіlyayutsya on materіalnі, trudovі that fіnansovі.

Materіalnі vtrati viyavlyayutsya in neperedbachuvanih project dodatkovih vitratah abo directly vtratah materіalnih ob'єktіv - budinkіv, sporud, ustatkuvannya, Lane, produktsії, tovarіv, materіalіv, sirovini, energії. The Labour nazivayut vtrati robochem hour through vipadkovі, neperedbachuvanі obstavini. Fіnansovі vtrati - tse directly penny zbitok, pov'yazany s require zdіysnennya neperedbachenih platezhіv, viplat shtrafіv, SPLAT dodatkovih podatkіv, s i vtratoyu koshtіv tsіnnih paperіv. Fіnansovі vtrati viyavlyayutsya takozh in razі neotrimannya abo nedootrimannya pennies s Jerel, zvіdki їh ochіkuvali otrimati have razі nepovernennya borgіv, nesplati postavlenoї produktsії, zmenshennya viruchki through znizhennya tsіn on realіzovanі Flea i Hotel. Fіnansovі vtrati sposterіgayutsya in zv'yazku s іnflyatsієyu, zmіnoyu exchange rate dodatkovim viluchennyam koshtіv of companies to have byudzhetіv viglyadі podatkіv that obov'yazkovih vіdrahuvan. Odnochasno іz bezpovorotno shaping can Buti timchasovі fіnansovі vtrati, zumovlenі zamorozhuvannyam rahunkіv, nesvoєchasnoyu vidacheyu koshtіv, vіdstrochkoyu viplati borgіv.

W look around to vikladene viokremimo osnovnі Vidi pіdpriєmnitskogo riziku.

Virobnichy rizik - pov'yazany s virobnitstvom i realіzatsієyu produktsії, poslug, zdіysnennyam whether yakih vidіv virobnichoї dіyalnostі. Sered vazhlivih reasons viniknennya virobnichogo riziku - mozhlive znizhennya peredbachuvanih obsyagіv virobnitstva, vibіr nedoskonaloї tehnologії, zbіlshennya materіalnih chi іnshih vitrat.

Komertsіyny, abo rinkovy, rizik - vinikaє in protsesі realіzatsії tovarіv i poslug on market analysis. Reasons komertsіynogo riziku shaping can Buti pіdvischennya zakupіvelnoї tsіni tovarіv, neperedbachuvane znizhennya obsyagu zakupіvel unaslіdok zmenshennya popitu on market analysis, znizhennya tsіn realіzatsії in rezultatі posilennya konkurentsії i t. Іn.

Fіnansovy rizik - vinikaє in sferі vіdnosin pіdpriєmstva іz zovnіshnіmi іnvestorami. Fіnansovy rizik dіyalnostі pіdpriєmstva vimіryuєtsya vіdnoshennyam pozikovih koshtіv to Vlasnyi. Shcho Takeo vische vіdnoshennya then bіlshoyu mіroyu pіdpriєmstvo in svoїy dіyalnostі deposits od kreditorіv and otzhe then bіlshy fіnansovy rizik, Aje pripinennya abo pozhorstkіshannya minds kredituvannya Mauger sprichiniti pripinennya virobnitstva through vіdsutnіst sirovini, materіalіv toscho.

Pіdpriєmstvo Mauger kredituvati INSHI fіrmi abo Shlyakhov vіdvantazhennya vlasnoї produktsії poperednoї without payment, at abo groshovіy formі.

In tsomu rizik razі vinikaє Credit, tobto rizik of scho pozichalnik not SPLAT for pozichkoyu.

Pіdpriєmstva vihodyat on fіnansovy rinok i emіtenti yak, yak i іnvestori, to potrіbno vrahovuvati coursework i riziki interest.

Coursework rizik pov'yazany s neperedbachenoyu zmіnoyu kursovoї vartostі tsіnnogo Papero and interest rizik vinikaє, Yakscho Cena tsіnnogo Paper the zmenshitsya through zbіlshennya normalized vіdsotka.

Іnvestitsіyny rizik vinikaє in razі vkladennya koshtіv the project i nedootrimannya ochіkuvanogo pributku.

Yak zaznachalosya, rizik - kategorіya іmovіrnіsna, i yogo yak vimіryuyut іmovіrnіst Pevnyi rіvnya vtrat. And Dermal pіdpriєmets vstanovlyuє for yourself priynyatny stupіn riziku. For pripustimy rizik can take zagrozu povnoї vtrati pributku od pіdpriєmnitskoї dіyalnostі. Criticality rizik pov'yazany not tіlki vtratoyu pributku s and d s nedootrimannyam peredbachuvanoї viruchki, if vitrati brought vіdshkodovuvati Vlasnyi for rakhunok. Naynebezpechnіshim for pіdpriєmtsya Je katastrofіchny rizik, scho generally produces up bankrutstva pіdpriєmstva, vtrati vsogo abo Chastain Lane, іnvestitsіy pіdpriєmstva.

Uhvalyuyuchi rіshennya about priynyatnіst i dotsіlnіst pіdpriєmnitskogo riziku, vazhlivo nobility ymovіrnіst not tіlki Pevnyi rіvnya vtrat and minutes of scho vtrati not perevischat particular rіvnya.

Analіz riziku pochinaєtsya s viyavlennya Jerel riziku i yogo reasons. For Jerel viniknennya rozrіznyayut takі riziki: gospodarsky; pov'yazany s osobistіstyu Helsinki Human; zumovleny natural chinnikami. For the cause viniknennya viokremlyuyut riziki scho Yea result neviznachenogo maybutnogo; neperedbachuvanostі povedіnki partnerіv; nedostatnostі Informácie. Rizik zavzhdi so chi іnakshe pov'yazany іz pitched іnformatsіynogo zabezpechennya rіshennya.

Otsіnka riziku - tse svoєrіdne poєdnannya іntuїtsії i rozrahunkіv. Іntuїtsіya ґruntuєtsya on the Helsinki Human dosvіdі i on її proniklivostі. Especially great significance in іntuїtsіya Got razі nedostatnostі Informácie for ob'єktivnih, exactly rozrahunkіv.

In rinkovіy ekonomіtsі printsipovo zmіnyuyutsya vzaєmovіdnosini pіdpriєmstva i powers that іnshimi pіdpriєmstvami i fіrmami. Power for the Economy rinkovoї Got right regulyuvati dіyalnіst of companies tіlki indirect method. Neodmіnnoyu minds zmіni vzaєmovіdnosin i powers of companies in Ukraїnі Je Reigning privatization of companies. Tsei processes іstotno zmіnit character i Metodi fіnansovogo upravlіnnya and takozh character Jerel fіnansuvannya. Power perestaє Buti vlasnikom Chastain of companies i, otzhe not vіdpovіdaє for їh fіnansuvannya. Vodnochase samostіynі vlasniki pochinayut fіnansuvati one single. Pіdpriєmstva for rinkovoї Economy bear Povny materіalnu vіdpovіdalnіst for vlasnі fіnansovі dії.

Pіdvischennya ekonomіchnoї samostіynostі pіdpriєmstva potrebuє od yogo fіnansovogo kerіvnika vmіnnya correctly partnerіv vibrato. For tsogo neobhіdny analіtichny pіdhіd to rіshen of acceptance. And potrіbny analіz fіnansovogo encampments not tіlki Vlasnyi pіdpriєmstva and second of companies, s yakimi pov'yazana yogo virobnicho-fіnansova dіyalnіst. Іnakshe mozhlivі neplatezhі i bankrutstvo pіdpriєmstva.

Without fіnansovogo analіzu nemozhlivo right vibrato polіtiku pіdpriєmstva (fіrmi). Odnієyu s Especially for upravlіnnya rinkovoї Economy Je posilennya strategіchnogo upravlіnnya nature, in addition scho minds nestabіlnostі th riziku potrіbno vmіti prognozuvati.

In the minds Rinku, nestіykostі yogo kon'yunkturi strategіya upravlіnnya poklikat spriyati stabіlіzatsії virobnicho-gospodarskoї dіyalnostі pіdpriєmstva. Stabіlnіst pributku pіdpriєmstva deposits directly od strategіchnih rіshen.

Pid strategієyu upravlіnnya pіdpriєmstvom (fіrmoyu) rozumіyut viznachennya dovgostrokovih tsіley yogo rozvitku i chinnikіv pіdvischennya pributkovostі s urahuvannyam Change log at the market. In strategії upravlіnnya vіdbivayutsya dovgostrokovі zavdannya rozvitku pіdpriєmstva (fіrmi) and takozh Costa i resources for potrіbnі їh realіzatsії. Zavdannya strategіchnogo upravlіnnya polyagaє in fact dwellers pіdgotuvati pіdpriєmstvo to mozhlivih Change log vipadkovih chinnikіv.

On of acceptance upravlіnskogo rіshennya vplivayut osobistі manager characteristics seredovische uhvalennya rіshennya, іnformatsіynі obmezhennya (Fig. 7.1).

Fig. 7.1. Driving Process of acceptance ratsіonalnogo rіshennya

Perche Kroc in planuvannі strategії Je viznachennya methylation. Formuvannya methylene pіdpriєmstva Basically viznachaєtsya troma chinnikami: type pіdpriєmstva (fіrmi); encampment pіdpriєmstva (more precisely in perspektivі i); vplivom i metoyu rіznih vlasnikіv.

Meta pіdpriєmstva formuєtsya vlasnikami mainly resursіv organіzatsії. Virіznyayut Sistemi i Meta Meta uchasnikіv tsієї system. Meta System - tse zagalnі znamenniki ochіkuvan vlasnikіv resursіv. The basic zagalna meta - vizhiti, tobto zabezpechiti stabіlnіst pіdpriєmstva. Zavdyaki dosyagnennyu tsієї methylene mozhna zbіlshiti obsyagi prodazhіv, іnvestitsіy i pributku.

On osnovі analіzu fіnansovogo upravlіnnya for rinkovoї Economy mozhna viznachiti osnovnі chinniki of Success, tobto chinniki dosyagnennya pіdpriєmstvom vlasnoї methylene i chinniki scho zabezpechuyut Maximum efektivnіst funktsіonuvannya pіdpriєmstva. Before them nalezhat gnuchka reaktsіya kerіvnitstva on zmіni zovnіshnogo seredovischa, orієntatsіya on rinok, i іnnovatsіynіst priskorennya vіdnovlennya, CREATIVE, analіtichny, strategіchny pіdhіd to upravlіnnya.

Main funktsіonalnimi Lanka strategії pіdpriєmstva for rinkovoї Economy Je marketing fіnansi i virobnitstvo. For efektivnoї dіyalnostі pіdpriєmstva OAO All yogo funktsіonalnі strategії toil Buti pіdporyadkovanі zagalnіy strategії. On skhemі marketingovoї dіyalnostі pіdpriєmstva (Fig. 7.2) viznacheno rozvitok pіdpriєmstva minds in market analysis and takozh i Metodi Meta Marketing її realіzatsії s urahuvannyam ekonomіchnih kriterіїv.

Metoyu marketing at its Cherga, Je obsession information The Mill (kon'yunkturu) Product rinkіv i prognozuvannya їh rozvitku. Tom based її viznachennya hard at systematic, comprehensive vivchennya become th tendentsіy vnutrіshnіh i zovnіshnіh trademark that penny rinkіv, vimog of companies-spozhivachіv produktsії i pokuptsіv, prospects zmіni Tsikh parametrіv and takozh virobnichih mozhlivostey pіdpriєmstva. Otzhe, strategіya marketing peredbachaє vibіr rinkіv i їh prognozuvannya, osnovnі napryamki tovarnoї orієntatsії i tsіnovoї polіtiki pіdpriєmstva, power organіzatsії virobnitstva i zbutu produktsії, planuvannya vitrat marketing. Tse vtіlyuєtsya in operational marketing rіshennyah scho konkretizuyut dіyalnіst pіdpriєmstva th otsіnyuyut efektivnіst vitrat marketing.

Vizhiti dwellers in the minds rіzkoї zmіni zovnіshnogo seredovischa, potrіbno koriguvati Meta, structure i funktsії mainly pіdrozdіlіv pіdpriєmstva (fіrmi).

Fig. 7.2. Zagalna scheme marketingovoї dіyalnostі pіdpriєmstva

Proanalіzuvavshi osoblivostі fіnansovogo upravlіnnya for rinkovoї Economy can viokremiti takі osnovnі funktsії fіnansovogo manager:

• viznachennya require pіdpriєmstva (fіrmi) in fіnansovih resources s metoyu realіzatsії nayefektivnіshih іnvestitsіynih proektіv;

• vіdpovіdalnіst for analіz alternative Jerel fіnansuvannya, їh otsіnyuvannya i formuvannya ratsіonalnoї structuring pozikovih koshtіv; zabezpechennya svoєchasnogo obsession fіnansovih resursіv s viznachenih Jerel; at tsomu vazhlivo stezhiti for zmіnami rinkovogo encampments pіdpriєmstva i in razі require vnositi korektivi in ​​fіnansovu polіtiku pіdpriєmstva;

• optimіzatsіya pributku pіdpriєmstva i zabezpechennya stabіlnogo pributku;

• efektivnosti vikoristannya otrimanih fіnansovih resursіv; for tsogo vazhlivo keruvati Rukh properly working second main kapіtalu;

• zabezpechennya stabіlnogo rozvitku pіdpriєmstva System yak rakhunok rozshirennya Vlasnyi virobnitstva abo zlittya s іnshimi pіdpriєmstvami; zapobіgannya bankrutstvu pіdpriєmstva, vіdpovіdalnіst for vіdnosini pіdpriєmstva s banks podatkovih authorities, insurance kompanіyami, pensіynimi toscho funds.

Zaznachenі funktsії vzaєmopov'yazanі, one funktsіya Mauger zdіysnyuvatisya kіlkoma Shlyakhov; vazhlivo Know naypriynyatnіshy.