METHODICAL APPROACHES OF ASSESSMENT OF EFFICIENCY OF ASSET MANAGEMENT OF THE ENTERPRISE

Keywords: assets, current assets, non-current assets, asset management efficiency, asset analysis

Abstract

Under a free-market economy, all enterprises are interested in rhythmic and stable work. Achieving high results in the financial and economic activities of companies requires a well-formed, strong, and effective asset management policy. One of the most important tasks of ensuring the efficiency of national companies is to assess the efficiency of asset management. The purpose of the article is to consider the essence, tasks, and principles of enterprise asset management and to provide methodological support for assessing the efficiency of enterprise asset management with a help of calculating integrated indicators and Harrington’s desirability function. The key goal of enterprise asset management was defined by the authors as the need to identify and meet the needs of certain types of assets to ensure the operational process, as well as optimize their composition to create conditions for effective economic activity. The article also considers the principles of building an effective asset management system of the enterprise and the factors on which such a system depends. Since current and non-current assets of the enterprise are characterized by their specifics in management, the authors also considered the process of managing current and non-current assets separately. The authors developed a methodological approach to assess the efficiency of asset management of the enterprise, taking into account the system of coefficients and integrated indicators, which allows determining the economic efficiency of measures identified in the asset management strategy of a particular business entity. Apart from that, the authors divided the process of assessing the effectiveness of asset management in the company into six stages. The proposed methodology will provide an opportunity to identify problematic issues in the management of the business entity's assets. Besides, it is the basis for improving the asset management policy. The prospect of future research in this area is to improve scientific and methodological approaches to financial and economic decisions on asset management based on the obtained quantitative assessments of management efficiency.

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Published
2021-11-30
How to Cite
Pihul, N., Bondarenko, E., & Kirichenko, A. (2021). METHODICAL APPROACHES OF ASSESSMENT OF EFFICIENCY OF ASSET MANAGEMENT OF THE ENTERPRISE. Economy and Society, (33). https://doi.org/10.32782/2524-0072/2021-33-20
Section
FINANCE, BANKING AND INSURANCE