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Economic Analysis: Theory and Practice
 

Increasing the efficiency of enterprise operation in conditions of internal and external environment uncertainty based on innovation

Vol. 18, Iss. 6, JUNE 2019

Received: 19 February 2019

Received in revised form: 4 April 2019

Accepted: 25 April 2019

Available online: 28 June 2019

Subject Heading: BUSINESS PERFORMANCE

JEL Classification: D61, D81, L23, O31

Pages: 1073–1086

https://doi.org/10.24891/ea.18.6.1073

Vasin L.A. Tula State University (TulSU), Tula, Russian Federation
vasin-la@yandex.ru

ORCID id: not available

Kurskii V.A. Tula State University (TulSU), Tula, Russian Federation
kurskiy44@mail.ru

ORCID id: not available

Subject The article substantiates situational models of managing the efficiency of enterprise operation as a decision-making tool in conditions of uncertainty of internal and external environment and lack of information.
Objectives The purpose of the study is to make recommendations for selecting effective management solutions under uncertainty through differentiating possible destructive disturbances between standard management areas with a specific set of efficiency improvement tools.
Methods The proposed approach draws on the theory of decision-making under uncertainty and risk, the study of the essence of the performance category, the use of hierarchy as a model for streamlining the enterprise structure, the study of interaction with external environment and assessment of its impact on achieving the goals.
Results We developed a situational model of managing the efficiency of enterprise operation. It enables to make economically feasible decisions without difficult procedures for analysis and justification, which are time-consuming and costly. It also helps reduce the time the enterprise needs to respond to emerging challenges when information is scarce.
Conclusions The presented model may serve as an analytical tool to support innovation policy and strategies for enterprise efficiency enhancement.

Keywords: efficiency criterion, uncertainty, external environment, diagnostic parameter, innovation

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