Filipishin I. Economic Analysis in the Design and Monitoring of Business Plans

Abstract

The article deals with the role of developing a business plan in the development of the enterprise, organization, firm or company. The article reveals possibility of a business plan to identify ways and means to achieve these goals; to maximize the competitive advantage of the enterprise; to prevent erroneous actions; to keep track of new trends in economics, engineering and technology, and use them in their work; prove and demonstrate the validity, reliability and the ability to implement the project; to mitigate the impact of the enterprise weaknesses; to determine the need for equity and cash; to take protective measures against all sorts of risks in time; to use innovations in its activities; objectively evaluate the results of industrial and commercial activities of the enterprise; to justify the economic feasibility of the enterprise development. The article also identified the importance of economic analysis in business planning: analysis of a business plan aimed at obtaining, compiling objective information about the state of the enterprise, while the economic analysis allows to link together all the benefits and costs of the future of the company, not only for it itself, but also for the state and society; that is precisely the economic analysis provides the basis for determining the areas of business development, choosing the most favorable option of investing and evaluation of plan indicators. The need to monitor targets for achieving the objectives is also pointed out in the article.