The impact of the monitoring and controlling system on the long-term sustainability of the enterprise

This article is dedicated to studying the impact of the monitoring and controlling system on the long-term sustainability of the enterprise. The study aims to analyze, systematize, and generalize the existing theoretical and methodological support for the implementation of monitoring and controlling systems, as well as to investigate the impact of these systems on the long-term sustainability of the enterprise. The article discusses the importance of an effective monitoring and controlling system for enterprises in the modern conditions of an unstable market environment. The study presents conceptual approaches to evaluating the effectiveness of such systems, focusing on their ability to maintain stability and competitiveness. The research substantiates the necessity of continuous control over key performance indicators to respond promptly to changes, optimize costs, and improve the accuracy of management decisions. Key aspects of evaluating the effectiveness of the monitoring and controlling system are presented, including data accuracy, decision-making speed, analytics quality, and flexibility in adapting to changing market conditions. It is found that data accuracy is fundamental to making correct management decisions, while the speed and promptness of decision-making contribute to increased competitiveness. Additionally, the importance of system flexibility, which allows for effective adaptation to external changes and forming a sustainable development strategy, is emphasized. The study revealed that monitoring and controlling systems should include economic indicators and technological metrics, such as data processing speed and the level of process automation. This ensures a reduction in human errors and an increase in productivity. Effectiveness is evaluated through quantitative indicators, such as productivity growth, cost reduction, product quality improvement, and customer satisfaction levels, allowing for a comprehensive assessment of the implemented systems’ effectiveness. The importance of ensuring the long-term sustainability of the enterprise through risk identification and income stability is substantiated. The study shows that enterprises can maintain a stable income level even in dynamic market conditions through effective risk management and adaptability to market changes. The research concludes that the monitoring and controlling system is an indispensable tool for enterprises aiming to achieve high performance, stability, and sustainability in the current economic environment. Keywords: monitoring and controlling system, monitoring, controlling, enterprise sustainability, long-term sustainability of the enterprise, effectiveness, performance.

Authors

Publication Details

Journal
Ukrainian Journal of Applied Economics and Technology
Published
2024-08-30
DOI
https://doi.org/10.36887/2415-8453-2024-3-70
Primary Topic
Management Systems and Quality Improvement
Type
article
Field-Weighted Citation Impact
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article

The impact of the monitoring and controlling system on the long-term sustainability of the enterprise

Nataliia Nosach
Ukrainian Journal of Applied Economics and Technology
Management Systems and Quality Improvement
article

The impact of the monitoring and controlling system on the long-term sustainability of the enterprise

Nataliia Nosach
article en

Abstract

This article is dedicated to studying the impact of the monitoring and controlling system on the long-term sustainability of the enterprise. The study aims to analyze, systematize, and generalize the existing theoretical and methodological support for the implementation of monitoring and controlling systems, as well as to investigate the impact of these systems on the long-term sustainability of the enterprise. The article discusses the importance of an effective monitoring and controlling system for enterprises in the modern conditions of an unstable market environment. The study presents conceptual approaches to evaluating the effectiveness of such systems, focusing on their ability to maintain stability and competitiveness. The research substantiates the necessity of continuous control over key performance indicators to respond promptly to changes, optimize costs, and improve the accuracy of management decisions. Key aspects of evaluating the effectiveness of the monitoring and controlling system are presented, including data accuracy, decision-making speed, analytics quality, and flexibility in adapting to changing market conditions. It is found that data accuracy is fundamental to making correct management decisions, while the speed and promptness of decision-making contribute to increased competitiveness. Additionally, the importance of system flexibility, which allows for effective adaptation to external changes and forming a sustainable development strategy, is emphasized. The study revealed that monitoring and controlling systems should include economic indicators and technological metrics, such as data processing speed and the level of process automation. This ensures a reduction in human errors and an increase in productivity. Effectiveness is evaluated through quantitative indicators, such as productivity growth, cost reduction, product quality improvement, and customer satisfaction levels, allowing for a comprehensive assessment of the implemented systems’ effectiveness. The importance of ensuring the long-term sustainability of the enterprise through risk identification and income stability is substantiated. The study shows that enterprises can maintain a stable income level even in dynamic market conditions through effective risk management and adaptability to market changes. The research concludes that the monitoring and controlling system is an indispensable tool for enterprises aiming to achieve high performance, stability, and sustainability in the current economic environment. Keywords: monitoring and controlling system, monitoring, controlling, enterprise sustainability, long-term sustainability of the enterprise, effectiveness, performance.

Ukrainian Journal of Applied Economics and TechnologyVol. 2024(3)
Openalex Percentile: Top 60%
Management Systems and Quality Improvement
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