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Economic Analysis: Theory and Practice

The interaction of concepts and laws of system development in the economic analysis of business entities' activities

Vol. 23, Iss. 4, APRIL 2024

Received: 15 March 2024

Received in revised form: 22 March 2024

Accepted: 30 March 2024

Available online: 26 April 2024

Subject Heading: SCHOLAR DISPUTE

JEL Classification: 45, D81, O12

Pages: 604624


Nadezhda E. BABICHEVA Voronezh State University (VSU), Voronezh, Russian Federation


Nikolai P. LYUBUSHIN Voronezh State University (VSU), Voronezh, Russian Federation


Subject. The increasing complexity of business operation processes and rising expectations of stakeholders require rethinking the content of economic analysis of business entities activities.
Objectives. The study aims at assessing the impact of interaction of modern concepts and laws of system development on the economic analysis of business entities activities.
Methods. The study employs logical and systems approaches, methods of grouping, comparison, generalization, analysis, and synthesis. We apply the matrix method in the economic analysis to identify the results of interaction of the concepts under consideration and the laws of system development.
Results. The analysis demonstrated that the methodology of economic analysis should be geared to solving theoretical and practical issues of the activities of business entities that take into account the transformation of business processes under the influence of digitalization, the emergence of new forms of business organization and management technologies with a focus on harmonious development, the increase in information flows and the complexity of economic information processing, systematization, and transmission.
Conclusions. The economic analysis has gradually transformed into an integrated and interdisciplinary scientific discipline aimed at disclosing the problems of business processes and developing possible solutions, which ultimately boils down to developing the most rational courses of action that meet the requirements of stakeholders. The methodology of economic analysis itself is directly dependent on the laws of development and the concepts under consideration. This requires considering the manifestations of their interaction in the development of information and analytical support for the management of economic entities.

Keywords: economic analysis, laws of system development, principle of continuity, sustainable development, life cycle


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