ON THE ESSENCE OF EFFICIENCY AS AN ECONOMIC CATEGORY

The article examines the essence of the efficiency of industrial enterprises; a system of indicators for its evaluation is formed. The dynamic nature of the external environment determines the need to improve the management of Russian enterprises and modernize their capacities. It is necessary for the management personnel of each company in our country to constantly work on the introduction of effective technologies and methods of functioning in order to adapt to the changing market situation, to anticipate the specific needs of customers, as well as to operate in the framework of the law. To develop an effective strategy for the development of an enterprise, it is necessary to determine: at what stage of development and with what efficiency it is currently working, whether it has clear goals for its activities. Based on this, measures will be developed and implemented to achieve the necessary result. That is why it is required to conduct a timely and prompt assessment of the effectiveness of the enterprise [1]. Thus, the relevance of this issue in market conditions is undeniable. This determines the focus of this study, the main task of which is to find out the essence of economic efficiency, as well as the criteria for its evaluation. As information base were used the works of domestic and foreign economists, so the authors in conducting the study comprehensively applied comparative and logical methods of analysis. The article considers various points of view on the term “efficiency” that exist in the economic literature. For the most accurate theoretical result, the essence of efficiency was considered from three sides: as performance categories, performance criteria and non-financial characteristics of processes. Based on the generalization of the received material, the authors’ definition of effectiveness is given. Focusing on this perception of the term in question, a system of performance indicators is presented, the use of which in practice will allow analysts to obtain reliable results of assessing profitability and business activity.

economic efficiency, economic category, effect, costs, productivity, performance, non-financial indicators, financial evaluation criteria, profitability, business activity, turnover

Pimenova E, M., Useinov E. V., Nosov M. A. On the essence of efficiency as an economic category. Business. Education. Law, 2023, no. 1, pp. 24—29. DOI: 10.25683/VOLBI.2023.62.506.