Strategic directions of balanced economic growth of entrepreneurial entities
Study and describe some characteristics of the balanced economic growth of entrepreneurial entities, draw valid conclusions and reveal future perspectives, which will allow us to balance their sustainable dynamic development and be able to mobilize.
| Рубрика | Менеджмент и трудовые отношения |
| Вид | статья |
| Язык | английский |
| Дата добавления | 13.11.2023 |
| Размер файла | 891,5 K |
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Economic growth depends on resources. When involved in the production process, the resource becomes a factor. The main factors are: amount and quality of capital, labor or workforce, natural resources. The output volume can be increased by using additional resources. This is extensive economic growth. Growth can be achieved as a result of rational use of production factors. This is intensive economic growth.
In our study, it is also justified that according to the new trends of transition to Eurocriteria, small and medium-sized entrepreneurs should familiarize themselves with and analyze the deep and comprehensive free trade agreement signed with the European Union, in which the government expresses strong support (small business loans, project “enterprise Georgia”, ease of doing business, a liberal payment code and fewer regulations).
The analysis revealed that for the post-pandemic period, the priorities for economic recovery and further development should be arranged as follows: a flexible healthcare system, more local production and less imports, promotion of domestic tourism, digitization-remote work, setting reasonable tariffs within the transit corridor and Transcaucasian corridor, government on the part of taking care of the economy, which means taking care of the well-being of every citizen.
Companies at the modern stage often face such challenges as: increased flow of economic information, most of which is unstructured, contradictory and delayed; excessive orientation on financial indicators, which reflect the past economic situation, that is, on the results of early decisions; using accounting data as the main source of information; the increase in the size of companies, the complication of their organizational structure; lack of complete information about various aspects of entrepreneurial activity, which play an important role in increasing the competition of the enterprise; the insufficiency of traditional indicators (profitability, sales volume, etc.) to make long-term strategic decisions; insufficient attention to the external environment, as the traditional system of indicators cannot reflect the possible behavior of customers and competitors in the future and, therefore, cannot warn us about other possible changes in the components of the industry and the external environment. However, key financial indicators are mostly focused on internal problems of the enterprise, not on external ones. Therefore, it is important for companies to use a balanced scorecard system to overcome the above-mentioned problems.
Research limitations and research perspectives. The study of the peculiarities of economic growth of Georgia according to the types of economic activity requires, first of all, consideration of the problem as a whole. For this kind of research, it is important to analyze the main macroeconomic and social results of the country. An important role in the growth and development of the economy belongs to the state. The government can create a competitive environment, develop basic infrastructure, take care of education, make it easier to do business, introduce low, reasonable taxes, make business loans cheaper, reduce interest rates. It is important for entrepreneurs to familiarize themselves closely with the requirements of the DCFTA, a deep and comprehensive free trade agreement signed with the EU. This will make it possible to see how the mentioned agreement provides opportunities and what are the requirements in terms of goods and their quality in the EU market.
Overall, it's important to get to know how businesses work together in the EU. This will enable entrepreneurs to overcome low productivity, low access to knowledge and technology. Also, it is important for the entrepreneurs to realize that it is necessary to increase the quality of the products and to spread proper information about the products in the European Union and other markets.
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