The urgency of ensuring the technical and technological development of enterprises in conditions of fierce competition

Abstract

Fierce competition in the market requires companies to increase efficiency, improve the consumer quality of products and services, expand the range, intensify business in general. Therefore, the most important task of a modern enterprise is to increase the efficiency of its activities through the successful use of its internal and external reserves on an innovative basis. Assessing the economic efficiency of the enterprise is one of the factors of its further development. It should be emphasized that this complex phenomenon cannot be determined by a single indicator and requires an integrated approach. In modern realities, scientists in analyzing the effectiveness of the enterprise primarily focus on its ability to generate financial results at the expense of a certain amount of financial and non-financial resources on an innovative basis.