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Economic Analysis: Theory and Practice
 

Design of an algorithm of evaluation of organizational and economic sustainability of the medical industry and the adoption of harmonized management decisions

Vol. 14, Iss. 6, FEBRUARY 2015

PDF  Article PDF Version

Available online: 8 February 2015

Subject Heading: Management issues

JEL Classification: 

Pages: 20-31

Gertsik Yu.G. Bauman Moscow State Technical University, Moscow, Russian Federation
ygerzik@bmstu.ru

Importance The article's goal is the development and analysis of structural and functional design of an algorithm of the evaluation and adjustment of organizational-economic sustainability of medical industry enterprises.
     Objectives The research aims to study the criteria selection for the assessment of organizational-economic sustainability of medical industry enterprises; classification of the stability of conditions of organizational-economic sustainability according to selected criteria; selection of management solutions at different levels of the stability of conditions of organizational-economic sustainability of medical industry enterprises.
     Methods In the course of the research, I applied the following methods: information-analytical analysis of print and dissertations on this research; abstract-logical method of criteria selection and operating procedures for implementation of the developed algorithm; analysis of the use of traditionally applied engineering and economic techniques to increase the stability of organizational and economic sustainability of industry enterprises (marketing, diversification, competition, etc.), in order to increase the organizational and economic sustainability of medical industry enterprises; analysis and synthesis of the predicted results of application of the developed algorithm.
     Results As a result of the work, I have selected the criteria of evaluation and efficiency of control solutions to maintain and foster the stability of organizational-economic sustainability of healthcare industry enterprises, which include profitability, environmental and biomedical parameters, and criteria for the production process stability. The paper provides a classification of states of the organizational and economic sustainability of healthcare industry enterprises in terms of its stability. The developed algorithm for accomplishment of actions on evaluating the stability of organizational-economic sustainability of medical industry enterprises and making management decisions can be applied to medical industry enterprises of any form of ownership, including joint ventures, which adopt import substituting technologies, as well as can be used in the didactic and methodological processes in teaching of students and advanced training of specialists in this field.
     Conclusions and Relevance I point out that the application of the algorithm makes it possible to analyze the state of the organizational-economic sustainability of various competitive medical industry enterprises and on the basis of an analysis to take preventive management decisions on adjustments of the mission and core strategy that preserve or reanimate the stability of the organizational-economic sustainability.

Keywords: organizational-economic sustainability, enterprise, medical industry, competitiveness, high-tech medical devices, algorithm, management decisions

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