Capital Structuration as Enterprise Management Strategy Elaboration Basis

Abstract:

In modern Russian economic conditions, enterprise management covers a lot of issues related to R&D and the organization of production and technological activities, ensuring its financial stability and solvency. The complexity of the ongoing social and economic processes and their interrelations with external factors, the variety of goals and tasks that enterprises are facing, make it necessary to define and develop a mechanism for forming an enterprise management strategy. In this paper, we propose to consider the formation of a strategy through capital structuring, which is an essential part of the development of a comprehensive enterprise management strategy. For the enterprise under consideration, the optimization task of forming an enterprise management strategy based on the functional of minimizing the structural reorganization of enterprises has been developed, the effect of which is aimed at reducing the enterprise's assets to the extent that it is underutilized or not effectively used, that is, at maintaining its production potential to the maximum possible extent and at choosing a new direction for its activity. That said, the limitations of the optimization problem are the conditions for obtaining such a ratio of sources of funds and their use which ensures a satisfactory balance structure and the required level of the company's solvency. Practical implementation of this task for the company in question both by linear programming method and graphically in various directions of enterprise restructuring has shown that a satisfactory balance sheet structure and financial sustainability indicators can be achieved. It is shown that in order to implement the obtained strategies, it is necessary to select separate organizational, technical and managerial measures or a set of such measures. As a promising direction of scientific research in this field, it is proposed to form a strategy by solving the problem of multi-criteria optimization of the structure of the enterprise's capital.