Substantiation of theoretical and methodological approaches to the determination of economic efficiency

Relevance. An analysis of the problems of modern science and practice shows that the process of transition from one model of economic development to another, better one, implies the emergence of a number of phenomena characteristic of a market economy. For example, such a concept as “economic efficiency”. This concept is used by almost all business entities at different levels, since it allows quantitative and qualitative assessment of the condition of the object. Scientists from different times have studied this concept; accordingly, there are different interpretations and methods for determining economic efficiency. The works contain completely different interpretations of the concept under consideration, implying its different properties and elements. The situation is caused by the versatility and multidimensionality of this concept. Therefore, the formation of modern approaches to determining economic efficiency, which will sufficiently correspond to the general theory of performance management and modern requirements of the economy and society, is extremely necessary.

The purpose is to substantiate theoretical and methodological approaches to determining economic efficiency.

Objectives: consider the concept of “efficiency”; establish the relationship between “efficiency” and the concepts of “effect” and “effectiveness”; identify common and distinctive features of these concepts; determine the essence of economic efficiency; consider the main approaches to evaluating effectiveness.

Methodology: comparative analysis, methods of induction and deduction, analysis and synthesis, logical analysis.

Results. The article discusses the concept of “efficiency”, their relationship with the concepts of “effect” and “effectiveness”. The general and distinctive features of these concepts are established, the essence of economic efficiency is determined, and the main approaches to their assessment are considered.

Conclusions. As a result of the work carried out, it was substantiated that economic efficiency consists of such elements as: the ability to assess the degree of achievement of the set goal, both from a quantitative and qualitative point of view; the need to use a systematic approach to calculate economic efficiency; taking into account the time factor and the limitation of all resources necessary to calculate economic efficiency.

1. Shabashev V.A., Batievskaya V.B. Genesis and classification of the concept of «Economic efficiency». Sibirskij aerokosmicheskij zhurnal = Siberian Aerospace Journal. 2014;(2):183‒189. (In Russ.)

2. Yakubov T.V., Shihalieva D. S. Methodological approaches to determining criteria and indicators of effectiveness of innovative projects for the development of construction enterprises Prostranstvo ekonomiki = Space Economics. 2009;(4-2):111‒115. (In Russ.)

3. Filippova A.O. Theoretical foundations of the analysis of the economic efficiency of the organization. Mezhdunarodnyj nauchnyj zhurnal «Vestnik nauki» = The International Scientific Journal «Bulletin of Science». 2020;1(7):77‒82. (In Russ.)

4. Golubova O.S., Kostyukova S.N. Methodological foundations for evaluating the effectiveness of a construction organization. Minsk: BNTU; 2019. 226 p. (In Russ.)

5. Salova N.N., Mishkin E.V., Avdeeva K.V. Assessment of the economic efficiency of the introduction of BIM technologies on the example of a design organization in construction. Aktual'nye voprosy sovremennoj ekonomiki = Topical Issues of Modern Economics. 2020;(11): 868-880. (In Russ.) https://doi.org/ 10.34755/IROK.2020.40.92.059. EDN XAYRST

6. Polikarpov M.D. Consideration of the concept of economic efficiency in modern conditions. Vestnik nauki = Bulletin of Science. 2023;1(5):75‒80. (In Russ.)

7. Tkacheva A.S. Theoretical and methodological approaches to the assessment of economic efficiency. Vestnik Akademii znanij = Bulletin of the Academy of Knowledge. 2016;1(16):42‒46. (In Russ.)

8. Korolev S.I., Stoyan M.V., Terent'ev V.V. Socio-economic efficiency of ITS: analysis and assessment of potential. Transportnoe delo Rossii = The Transport Business of Russia. 2020(4): 57-59. (In Russ.) EDN DTFRIM

9. Davydyanc D.E. Criteria, indicators and assessment of socio-economic efficiency. Voprosy statistiki = Statistical Issues. 2002;(8):73-78. (In Russ.) EDN RTANGT

10. Rahmeeva I.I. Economic efficiency of regulatory impact assessment in the regions of Russia. ANI: ekonomika i upravlenie = ANI: Economics and Management. 2019;(1):273‒278. (In Russ.)

11. Bondarev A.V., Tuchkov V.E., Kononov A.M. Review of modern methods for assessing the technical and economic efficiency of construction and reconstruction of systems. Aktual'nye problemy voenno-nauchnyh issledovanij = Actual Problems of Military Scientific Research. 2020;(S8):89-96. (In Russ.) EDN FYNKFU

12. Ajvazyan S.A., Afanas'ev M.Yu. Assessment of the economic efficiency of the transition to an achievable potential. Prikladnaya ekonometrika = Applied Econometrics. 2009;(3):43‒55. (In Russ.)

13. Serov V.M. On the property approach in assessing the economic efficiency of investment projects in real sectors of the economy (new capital construction). Ekonomika stroitel'stva = The Economics of Construction. 2021;(1):3‒11. (In Russ.)

14. Lavruhina N.V. Comparative analysis of methods for assessing the economic efficiency of investments. Teoriya i praktika obshchestvennogo razvitiya = Theory and Practice of Social Development. 2014;(16):1‒5. (In Russ.)

15. Alaev A.A., Kozlova S.V., Malyutin K.M., Perova I.T. Assessment of socio-economic efficiency of infrastructure projects. Finansovyj zhurnal = Financial Journal. 2015;(4):41‒52. (In Russ.)

16. Asanova N.A., Tkachenko N.A. Methods of assessing the economic efficiency of an enterprise. In: Metody ocenki ekonomicheskoj effektivnosti deyatel'nosti predpriyatiya. Puti povysheniya effektivnosti ekonomicheskoj i social'noj deyatel'nosti kooperativnyh organizacij: materialy XI mezhdunarodnoj nauchno-prakticheskoj konferencii, Krasnodar, 30 noyabrya 2016 g. = Ways to improve the efficiency of economic and social activities of cooperative organizations: Materials of the XI International Scientific and Practical Conference, 30 November 2016, Krasnodar. Krasnodar: IP Dedkova S. A.; 2016. P. 172-(In Russ.) EDN XORSTJ

17. Ekkert A.V., Kapitulina N.A., Horechko I.V. Assessment of the economic efficiency of investments in the construction of an industrial facility. Elektronnyj nauchno-metodicheskij zhurnal Omskogo GAU = Electronic Scientific and Methodological Journal of Omsk State University. 2018;(2):14. (In Russ.)

18. Borovskaya K.I., Abakumov R.G., Avilova I.P. Assessment of the economic efficiency of reconstruction of non-residential buildings and a review of cost-effective standard construction technologies during reconstruction. Innovacionnaya ekonomika: perspektivy razvitiya i sovershenstvovaniya = Innovative Economics: Prospects for Development and Improvement. 2018;(5):10‒15. (In Russ.)

19. Gilemhanov R.A., Brajla N.V. Methods of assessing the financial and economic effectiveness of investment and construction projects. Stroitel'stvo unikal'nyh zdanij i sooruzhenij = Construction of Unique Buildings and Structures. 2016;(10):7‒19. (In Russ.)

20. Pipko L.S. Evaluation of the efficiency of the functioning of housing and communal services enterprises. In: Novaya ekonomika, biznes i obshchestvo: sbornik materialov Aprel'skoj nauchnoprakticheskoj konferencii molodyh uchyonyh, Vladivostok, (25 maya – 04 2020 g.) = New economy, business and society: Collection of materials of the April scientific and practical conference of young scientists, 25 May –04 June 2020, Vladivostok. Vladivostok: Dal'nevostochnyj federal'nyj universitet; 2020. P. 319-323. (In Russ.) EDN TDLPOP

21. Kuklina E.A., Micelovskaya O.S. On the issue of assessing the economic efficiency of innovative activities in the field of housing and communal services in the region. In: Aktual'nye problemy menedzhmenta: novye metody i tekhnologii upravleniya v regionah: materialy mezhdunarodnoj nauchnoprakticheskoj konferencii, Sankt-Peterburg, 15 noyabrya 2019 g. = Actual problems of management: new methods and technologies of management in the regions: Materials of the International Scientific and practical conference, 15 November 2019, St. Petersburg. St. Petersburg: Skifiya ‒ print; 2020. P. 82-85. (In Russ.) EDN GDRZEA

22. Surovcov M.M., Moreva Yu.A., Novoselova Yu.N. Assessment of the economic effectiveness of energy saving measures in the field of housing and communal services. Nauka Krasnoyarska = Science of Krasnoyarsk. 2023;(12):7‒20. (In Russ.)

23. Petrovskij A.I., Kapustina N.V. The relationship between the accuracy of estimating the cost of construction and the economic efficiency of investment and construction projects. Gosudarstvennoe i municipal'noe upravlenie. Uchenye zapiski = State and Municipal Management. Scientific Notes. 2021;(1):165‒169. (In Russ.)

24. Kuklina E.A., Micelovskaya O.S. Methodological approach to assessing the level of innovative development of an enterprise (on the example of the sphere of housing and communal services). Upravlencheskoe konsul'tirovanie = Managerial Consulting. 2020;(6):110‒122. (In Russ.)

25. Shchenyatskaya M.A., Naumov A.E. Improving the methodology of comparative assessment of the effectiveness of alternative investment projects in housing construction. Vestnik BGTU imeni V. G. Shuhova = Bulletin of the BSTU named after V. G. Shukhov. 2015;(6):264‒268. (In Russ.)

26. Golubova O.S. Indicators of economic efficiency of construction works. Ekonomicheskaya nauka segodnya = Economics Today. 2018;(8):130‒137. (In Russ.)

27. Avilova I.P., Krutilova M.O., Naumenko V.V. Tools for assessing the ecological and economic efficiency of design solutions in housing and civil construction. Stroitel'stvo: nauka i obrazovanie = Construction: Science and Education. 2019;(4):1‒17. (In Russ.)