Essence, approaches to assessment and interrelation of the total economic and financial potential of agro-food sector companies
Year: 2022
Type: article
Abstract: The study found that the competitiveness of companies in the agro-food sector is determined by its total economic potential, by which we mean the availability of resources at its disposal that allow organizing the efficient production of goods in order to meet market needs and ensure sustainable development of the company under changing external and internal environment. The total economic potential of companies in the agro-food sector structurally consists of many types, components of the potential, closely interconnected and aimed at achieving the set goals. In the structure of the total economic potential of companies in the agro-food sector, the following structural elements should be distinguished: material, intellectual, information technology, innovative and financial potentials. A systematic study of the total potential of companies or its individual elements is the basis for making effective management decisions and their sustainable development. The author's definition of the category "total economic potential of the agro-food sector companies" is given and can be explored: as actually achieved (resource, productive), which characterizes the level of use of the company’s capabilities; and as a promising (target) economic potential–these are the potential capabilities of companies at the expense of resources that are not used at a given time due to various circumstances, but which can be achieved by improving management.
Source: VUZF REVIEW
Authors: Bartosz Mickiewicz, Katsiaryna Volkava
Institution: West Pomeranian University of Technology in Szczecin
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4297542004