On diversification of production and its economic efficiency

Oksana Yermishina; Alina Veriyalova; Valeria Kruglova; Natalya Chebakova; Daria Shibanova

doi:doi:10.26118/2782-4586.2024.93.13.024

UDC 338.1

On diversification of production and its economic efficiency

Published в JOURNAL OF MONETARY ECONOMICS AND MANAGEMENT · Issue 7, 2024 · Pages 151–157 · Rubrics: SCIENTIFIC ARTICLES

DOI 10.26118/2782-4586.2024.93.13.024

Received: 08.12.2024 Accepted: 11.12.2024 Published: 11.12.2024

Authors

Oksana Yermishina ¹ · Alina Veriyalova ² · Valeria Kruglova ³ · Natalya Chebakova ⁴ · Daria Shibanova ⁵

1 Ulyanovsk State University (Department of Economic Security, Accounting and Audit, Ulyanovsk State University, Senior Lecturer)
Ulyanovsk, Russian Federation

2 Ulyanovsk State University
student

3 Ulyanovsk State University
Russian Federation

4 Ulyanovsk State University
Ulyanovsk, Russian Federation

5 Ulyanovsk State University
Ulyanovsk, Russian Federation

ABSTRACT

The article focuses on diversification of production as a strategic tool to increase the economic efficiency of modern enterprises. The application of diversification contributes to the development of innovation and new technologies, since the production of new goods and products requires the constant search for new business solutions and approaches. This helps to increase the competitiveness of the business entity, its positioning in the market, increase sales volumes and sales levels, expand the client base, which in turn will lead to an increase in revenue and financial results of the business entity. The study pays attention to the analysis of factors ensuring successful diversification, as well as an assessment of its impact on the stability and profitability of the business, on the financial performance and competitiveness of companies in a changing market environment. The article discusses the key diversification methods used to reduce risk and increase the efficiency of the investment portfolio, their purpose and advantages. According to the results of the study, diversification measures taken by Russian industrial enterprises are systematized in the context of positive and negative aspects

KEYWORDS

: production diversification economic efficiency competitiveness profitability purchasing power financial performance strategic management

Information

Authors:

1. Ulyanovsk State University (Department of Economic Security, Accounting and Audit, Ulyanovsk State University, Senior Lecturer)

Ulyanovsk, Russian Federation

2. Ulyanovsk State University
student

3. Ulyanovsk State University

Russian Federation

4. Ulyanovsk State University

Ulyanovsk, Russian Federation

5. Ulyanovsk State University

Ulyanovsk, Russian Federation

Type:

Article

Pages:

from 151 to 157

Status:

Published

Subject area:

UDC 338.1

Language:

Russian

Keywords:

: production diversification, economic efficiency, competitiveness, profitability, purchasing power, financial performance, strategic management

References

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