Implementation of controlling technologies as a method to increase sustainability of business activities

Abstract

Purpose: We are currently facing that business environment is not stable due to globalisation processes in economics, cyclical changes and other disturbing factors. Hence, it is necessary to search such reserves that would improve efficiency of the business entity. Design/Methodology/Approach: The main objective of these reserves is to buffer negative impacts of external disturbances on financial and economic sustainability of enterprises. One of methods designed to improve the enterprise efficiency involves application of controlling technologies. Findings: In the present article the authors examine results of statistical analysis of economic performance of more than 70 Russian and foreign enterprises. The authors also analyse economic performance according to the authors’ integral indicator that shows effectiveness of implementation of the controlling system. Practical Implications: On the ground of this analysis, the authors determine the mean level of increase in efficiency of the enterprise's activity due to introduction of the controlling system. Originality/Value: The analysis proves that, on average, efficiency of the economic entity's operation increases by about 17%.