KEY PERFORMANCE INDICATORS OF FEA MANAGERS IN THE VALUE-TARGET MANAGEMENT SYSTEM OF FOREIGN ECONOMIC ACTIVITY OF THE ENTERPRISE

Keywords: key performance indicators, value-target management system, foreign economic activity, FEA managers, key competencies, domestic enterprises

Abstract

Under modern economic conditions, the successful achievement of the goals of foreign economic activity and the improvement of the labor productivity of FEA managers of the enterprise are impossible without the application of modern management approaches, in particular, those based on the principles of the application of key performance indicators and taking into account social aspects. To improve the management of the enterprise’s foreign economic activity, and its efficiency and strengthen the enterprise’s competitiveness in foreign markets, it is important to use an effective assessment of FEA managers, which reflects the relevance of research and development of the outlined topic. In the value-target management mechanism of foreign economic activity, the KPI system is one of the priority components and also is part of the personnel management system in the context of achieving the strategic and tactical goals of the enterprise’s foreign economic activity. The article reveals the key features of the application of key performance indicators in the value-target management system of foreign economic activity of the enterprise, contains an improved technology for the development of FEA managers’ key performance indicators, as well as practically valuable recommendations regarding the application of specific key performance indicators of FEA managers, as well as recommended key value and target competencies. Based on the KPI system and FEA managers’ key competencies, the company will be able to objectively assess employees, determine their training and development needs, and provide adequate motivation and stimulation of their professional growth. At the same time, this will contribute to improving the efficiency of the enterprise’s foreign economic activity, increasing export volumes, expanding sales markets, reducing costs for inefficient solutions, and strengthening the enterprise’s position in the international markets.

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Published
2023-05-30
How to Cite
Petryshyn, N., & Yaremchuk, T. (2023). KEY PERFORMANCE INDICATORS OF FEA MANAGERS IN THE VALUE-TARGET MANAGEMENT SYSTEM OF FOREIGN ECONOMIC ACTIVITY OF THE ENTERPRISE. Economy and Society, (51). https://doi.org/10.32782/2524-0072/2023-51-6
Section
MANAGEMENT