Economic efficiency of planned activities. Economic efficiency. What is an assessment of the effectiveness of activities

1. Let's calculate the effectiveness of the first event.

Let's calculate the effectiveness of using a system of discounts for debtors using an example.

Accelerating payment for shipped goods reduces the need to raise funds and provides savings by reducing the amount of interest payments.

The buyer of Ritm LLC is obliged to make full payment for the goods delivered to him within 30 calendar days from the date of receipt. But if he makes the payment within the first 10 days of this period, he has the right to automatically reduce the payment amount by 2% (if the buyer belongs to the first risk category), i.e., take advantage of a discount for accelerating payment. Revenue from sales of products to this buyer is 5178.5 thousand rubles, net profit is 98 thousand rubles.

Let's calculate the effectiveness of the proposed event.

We calculate the cost savings using formula (29).

EC=(t 1 -t 0)*,

where EC is cost savings,

t 1 - payment period,

t 0 - early payment period,

V - revenue from sales of products.

In our example, the cost savings will be:

(30-10)*5178.5/365=283.75 thousand rubles.

The cost savings will amount to 283.75 thousand rubles.

Let's calculate the effectiveness of introducing a 2% discount for the first risk category in accordance with the “Classification of debtors by risk level.”

To calculate losses in profit from applying a discount, formula (30) is used:

P=V*Sk*RPr,

where P - losses,

Sk - discount amount,

RPR - return on sales.

The loss in profit from applying the discount will be:

P=5178.5*0.02*(98/ 5178.5*100)=196 thousand rubles.

Let's calculate the effect of applying a discount for accelerated payment using formula (31).

where E is the economic effect of applying a discount for expedited payment.

The economic effect of applying a discount for accelerated payment will be

E = 283.75-196 = 87.75 thousand rubles.

Thus, this event is beneficial for the enterprise.

We will calculate the benefit for the buyer.

Subject to bank lending (20% per annum) in the amount of 5178.5 thousand rubles. in 20 days, the loan amount will be (5178.5*20%)/365*20= 56.75 thousand rubles.

And if you receive a discount from RIC LLC in the amount of 2% of the purchase, the savings will be 5178.5-2% = 103.57 thousand rubles.

Thus, the additional benefit for the company Ritm LLC will be 46.82 thousand rubles.

Thus, this event is beneficial for both the seller and the buyer, therefore, in connection with the proposed measures, it is planned to reduce the volume of accounts receivable by 10% and at the same time increase the company’s income by 2% (139047 * 2/100 = 2781 thousand rubles .) and will amount to 141827.9 thousand rubles. If 20% of buyers take advantage of a 2% discount, then the costs for it will be (139047*20/100)*2/100=556 thousand rubles.

Then the economic effect from of this event will be 2781-556=2225 thousand rubles.

2. Let's calculate the effectiveness of the second measure - the introduction of the position of internal auditor. This event will improve control over accounting and tax accounting, as well as financial and management accounting. Due to amplification financial control it is assumed that the company's expenses will be reduced by 1% (122312*1/100=1223.1 thousand rubles)

The costs of introducing an auditor position will include: training costs (10 thousand rubles) and wages specialist (25 thousand rubles per month) in the amount of 10+25*12=310 thousand rubles. Software(Galaxy) will require expenses of 200 thousand rubles.

The effect of this event will be 1223.1-310-200 = 713.1 thousand rubles.

3. Let's calculate the effectiveness of the third event.

Thanks to the introduction of a bonus for the performance of the enterprise, it is planned to increase the income of RIC LLC by 2% (139047 * 2/100 = 2781 thousand rubles)

At the same time, the size of the employee bonus will be 0.01% of the revenue of 14 thousand rubles. per person, the total bonus will be 63 people * 14 = 882 thousand rubles.

The effect of this event will be 2781-882=1899 thousand rubles.

4. Let's calculate the effectiveness of the fourth event.

Expected result: the project will reduce thermal energy consumption, reduce costs for energy consumption and building maintenance, and improve the microclimate in the company's buildings. The cost of a heating point with plate heat exchangers, expansion tanks and circulation pumps is 570 thousand rubles. As a result of the implementation of this project, the acquisition costs utilities will decrease. We will calculate the thermal energy savings due to the replacement thermal equipment.

where M1, M0 - the rate of material consumption before and after the implementation of the event;

CM - material price;

VBPm - product output in physical terms from the moment the event was introduced until the end of the year,

Let's calculate the consumption rate per unit of production M 0. The number of operating hours of thermal equipment in 2011 was 24 hours, the number of days in a year was 365 days, and the production volume was 4485 units. Mo = 24*365/ 4485 = 1.95 hours. Let's calculate the consumption rate per unit of production M 1. The number of hours of operation of thermal equipment in 2012 (10 hours a day during non-working hours) will be 14 hours, the number of days in a year will be 365 days, the production volume will be 4485 units. M 1 = 14*365/ 4485 = 1.14 hours.

Let's present the data in Table 20.

Table 20. Savings calculation material costs in connection with the replacement of thermal equipment

Let's present the calculation of additional current costs in Table 21.

Table 21 Calculation of additional operating costs

The economic effect from the implementation of measures to save thermal energy at RIK LLC will be 864.6-645 = 219.6 thousand rubles.

5. Let's calculate the effectiveness of the fifth event.

The introduction of control over the use of elements of the communication complex and assessment of their effectiveness will increase the enterprise's income by 5% (139,047 * 5/100 = 6,952 thousand rubles). In this case, the costs will be about 100 thousand rubles. (additional payment to the manager for additional work).

The economic effect from the implementation of the event will be 6952-100 = 6852 thousand rubles.

6. Let's calculate the effectiveness of the sixth event.

Carrying out professional competitions will increase labor productivity at the enterprise. The company's income is expected to increase by 0.5% (139047*0.5/100=695.2 thousand rubles). The costs of holding competitions are expected to be 200 thousand rubles.

The economic effect from the implementation of the event will be 695.2-400 = 295.2 thousand rubles.

Thus, the economic effect from the implementation of the first event will be 2225 thousand rubles, from the implementation of the second event will be 713.1 thousand rubles, from the implementation of the third event will be 1899 thousand rubles, from the implementation of the fourth event will be 219.6 thousand. rub., from the implementation of the fifth event will be 6852 thousand rubles, from the implementation of the sixth event will be 295.2 thousand rubles. So, all the proposed activities for RIC LLC are cost-effective. The annual economic effect will be 12203.9 thousand rubles.

The analysis showed that it is necessary to create an effective and efficient internal marketing system at DOC LLC. However, the formation of the system must be preceded by an assessment of the possibility of its implementation in the enterprise.

Thus, analysis of the main economic indicators LLC "DOC" for 2012 -2014. showed that its production and commercial activity quite effective. However, there is also psychological aspect implementation of proposed innovations. There is a possibility that the innovation will not be understood and accepted by employees, and without this, the effectiveness of implementing the developed system may significantly decrease. Therefore, let us evaluate the possible effectiveness of control actions

When analyzing the effectiveness of control actions, we used the formula of the consulting company Informles Consulting, which has long confirmed its practical suitability. A well-known Russian consulting and implementation company has been providing consulting services in the field of enterprise management and training personnel in new management methods since the late 80s.. In accordance with this formula, changes in management are effective if the level of resistance to change on the part of employees and managers of the organization is less than the product of such components as the level of employees’ perceptions about the future of the organization, the level of clarity in actions to achieve the future and the level of dissatisfaction with the current state of affairs.

where I is the final assessment of the direction of changes (can range from 0 to +, but practically rarely exceeds 2);

N - the level of employee dissatisfaction with the current state of affairs in the organization (measured by assessing the proportion of employees who have a desire to change something in the organization - range from 0 to 1). The results of a survey of employees of DOC LLC showed that more than 80% of the personnel are dissatisfied with the current state of affairs in the organization, thus, we will take the value of H equal to 0.80;

OB - the level of unity of ideas among employees of the organization about its future state (measured by assessing the share of coinciding opinions of employees about the future of the organization - range from 0 to 1). The organization's management does not clearly define the strategic and tactical guidelines for its development and does not communicate them to employees; employees, in turn, do not always accept these goals as consistent with personal goals. Only about 31% of personnel have a common understanding of the strategic and tactical goals of the organization;

PD - the level of unity in employees’ ideas about actions that will lead to a future state (measured by assessing the proportion of coinciding opinions about planned actions, relationships, expected results - range from 0 to 1). The value of the BH approximately coincides with the value of the OB, but is slightly higher, since employees who have different views on the future development of the organization in some cases have the same opinion about the measures that will lead the organization to the predicted state. BH value = 0.43;

Ср - the level of resistance to change on the part of the organization's leaders (measured by assessing the proportion of the organization's leaders for whom changes can lead to an undesirable increase in workload and a decrease in status - range from 0 to 1). Changes associated with the formation of a management system at the enterprise may have an undesirable effect on 10-20% of the managers of DOC LLC at various levels, thus Av = 0.2

Sp is the level of resistance to change on the part of subordinates (measured by assessing the proportion of employees in the organization for whom changes may lead to an undesirable increase in workload - range from 0 to 1). 30% of employees fall into this category.

When using this formula, we can say that changes are successful and purposeful if I>1 and lead to destabilization of the organization and a decrease in its effectiveness, if I<1.

We evaluated the data collected during the research in accordance with the above formula.

I = (0.80*0.31*0.43)/0.25*0.3 = 1.42

Thus, the assessment results showed the prerequisites for a sufficiently high efficiency of control actions, which will significantly facilitate the implementation of an effective personnel marketing system for DOC LLC.

The costs of implementing the proposed activities are presented in Table 22.

Table 22

Costs of implementing the proposed activities

Cost item		Amount, rub.
1. Creation of the Human Resources Management Service, total
Including: - salary of the head of the HR Service	20 thousand rubles + 30% (contributions to extra-budgetary funds) * 12 months.
HR Development Manager Salary	15 thousand rubles + 30% * 12 months
2. Mentoring, total
Additional payments for mentoring	15 thousand rubles * 10% (additional payment for mentoring) * 24 people. (number of people accepted in 2014)
One-time bonus HR service for developing the necessary documentation
3. Training (seminar - 16 hours)

Thus, the cost of implementing the proposed measures will amount to 615.6 thousand rubles.

The effectiveness of creating a Human Resources Management Service is to increase employee productivity by at least 1%.

Let's calculate the projected labor productivity of employees of DOC LLC:

(355689 / 84) + 1% = 4234.4 + 1% = 4276.7 (RUB/person)

Where 355689 is the company’s revenue in 2014;

84 - number of personnel of the enterprise in 2014.

From here we find the forecast value of revenue with a constant number of personnel:

4276.7 * 84 = 359243 (thousand rubles)

That is, in the forecast period, revenue will increase by 3,554 thousand rubles.

The economic effect will be:

3554 - 546 = 3008 thousand rubles.

The effectiveness of the implementation of the mentoring system is manifested in the conditional release of personnel and a reduction in costs due to savings on the wage fund. The time savings that make up the adaptation period for a new employee can be determined by the formula:

Evr = PA * Chad.r * PV / 100 (3)

where: PA - adaptation period, days;

Chad.b. - number of employees undergoing adaptation, people;

PV - average losses during the adaptation period,%.

Conditional release of numbers is calculated using the formula:

H = EVR/D (4)

where D is the effective working time fund per 1 employee per year, days.

Cost reduction due to savings on the wage fund is calculated using the formula:

Sz.p. = Zav.year * H (5)

where: Sz.p. - cost reduction, rub;

Zsr.year - average annual salary of 1 employee, rub.

The company's management plans to reduce staff turnover this year from 16.7% in 2014 to 15%. With this turnover rate, the number of resigned and newly hired employees will be 7 people. The adaptation period is 90 days, the loss of working time during the period of adaptation and training will average 50%; the average annual salary of 1 employee is 281.65 thousand rubles, the effective working time fund is 240 days. Savings in working hours will be:

Evr = 90 * 7 * 0.5 = 315 days

The conditional release of personnel will be:

H = 315 / 240 = 1.31 people.

The cost reduction due to savings on the wage fund will be:

Sz.p. = 281.65 * 1.31 = 369 thousand rubles.

Thus, the annual economic effect from the introduction of mentoring will be expressed in a reduction in costs and will amount to 369 thousand rubles.

According to statistics, increasing the professionalism of employees who have undergone training leads to an increase in labor productivity by an average of 3%. Thus, due to increased professionalism and increased labor productivity, one can expect an increase in revenue:

355689 + 3% = 366360 thousand rubles.

The increase in revenue will be: 366360 - 355689 = 10671 thousand rubles.

If the level of profitability of sales remains unchanged (4.14% in 2014), one can expect an increase in profit from sales by:

10671 * 4.14% = 442 thousand rubles.

The economic effect of this event will be:

442 - 28.6 = 413.4 thousand rubles.

where 28.6 is training costs.

The expected results from the implementation of the developed activities are presented in Table 23.

Table 23

Expected results of the developed activities

Name Events	Result	Sales cost, thousand rubles.	Additional income from implementation, thousand rubles.	Savings ical effect, thousand rubles.
Creation of the Human Resources Management Service	Clear distribution of functions Improving management efficiency
Implementation of mentoring	Reduced adaptation costs, reduced turnover
Conducting a seminar	Improving communication culture, increasing labor productivity
Overall effect	Improving the internal personnel marketing system to increase business efficiency

ROI = (Revenue - Costs) / Costs (6)

ROI = (4365 - 615.6) / 615.6 = 6.2

For every 1 ruble spent on the implementation of activities, DOC LLC will receive 6.2 rubles in return.

Thus, the improvement in economic indicators indicates the economic effectiveness of the proposed measures.

Table 24

Forecast report on the financial results of DOC LLC

Planned revenue: 355689 + 3554 + 10671 = 369914 thousand rubles;

In 2014, relative to 2013, the cost of sales of DOC LLC decreased. However, in the current economic conditions this is unlikely. Therefore, we plan an increase in cost of sales at 3%:

327748 + 3% = 337567 thousand rubles.

Gross profit: Pr val = 369914 - 337567 = 32347 thousand rubles;

Commercial expenses will increase by the amount of costs: 13200 + 616 = 13816 thousand rubles.

Profit from sales: Pr from pr = 32347 - 13816 = 18531 thousand rubles;

Profit before tax: Pr before n/o = 18531+5563-14039+275-3640 = 6690 thousand rubles;

Net profit: Pr h = 6690 - (6690 * 20%) = 5352 thousand rubles.

For clarity, let us present the obtained indicator values graphically in Figure 19.

Rice. 19.

Thus, after implementing the proposed measures to improve internal marketing at DOC LLC, we receive a forecast of an increase in revenue by 14,225 thousand rubles, and sales profit by 3,790 thousand rubles. Profit before tax and the net profit of the enterprise will also increase significantly - by 3,790 thousand rubles. and 2815 thousand rubles. respectively.

Thus, the improvement in financial indicators indicates the economic efficiency of the proposed measures to improve internal marketing at DOC LLC.

In the developed measures to improve marketing activities at the Art-Grand Victoria Hotel, it was proposed to create a new marketing service structure. But this requires advanced training of marketing specialists. The introduction of new functions of marketing activities requires employees to have professional knowledge and skills and improve their general educational level. Therefore, an important condition for improving marketing activities is increasing general education, expanding economic knowledge and improving the qualifications of economic workers. The Art-Grand Victoria Hotel offers retraining and advanced training to three marketing service employees.

Let's make a calculation economic effect from the proposed event. Initial data in table 5.

Table 5 Initial data for calculating the annual economic efficiency for training and advanced training of marketing service specialists

We carry out the calculation according to the following scheme:

Time savings, hour.

Evr = Ch*Szrv*P/60 (6)

Evr = 3*30*182 /60 = 276.

2. Conditional release of numbers, people.

Ech = Evr/Fvr (7)

Ech = 276/2093 = 0.13.

3. Increase in labor productivity, %.

Ptr = [Ech*100] / [Chsr -Ech] (8)

Ptr= / =0.69.

4. Salary savings, rub.

Ez/pl = Ech*Fz/pl sr (9)

Ez/pl = 0.13*103680 = 13478.

5. Savings of social needs, rub.

Esots = Ez/pl *40, 3 /100 (10)

E social = 13478 *40, 3/100 =5430.

6. Cost savings, rub.

Es/b = Ez/pl + Esots (11)

ES/b = 13478 + 5430 = 18908.

Eg = Es/b - En*Zed (12)

Eg =18908 - 0.15*1000 = 17408.

Thus, the annual economic effect of this event will be 17,408 rubles.

The initial data for calculating economic efficiency are presented in Table 6.

Table 6 Initial data for calculating economic efficiency

Index	Quantity
1. Number of people reached
2. Annual output, standard hours
3. Hourly productivity, standard hour
4. Cost, thousand rubles
5. Conditionally fixed costs in cost, %
6. Loss of working time per employee per shift, min
7. Annual working time fund, 1 employee
8. Cost of computer equipment, thousand rubles
9. Costs of implementing the event, thousand rubles

Calculation of economic efficiency:

1. Saving working time, person-hour.
25*18*236/60 = 1770.
2. Release of numbers, people:
1770/10*236 = 0, 75.
3. Increase in labor productivity, %.

P = 0.75 *100/ 18 - 0.75 = 4.3.

4. Savings of conditionally fixed expenses, thousand rubles.
20*3840=768.
5.Increase in the volume of trade turnover, standard hours.
1770* 1, 2 =2124.
25960 - 2124 = 23836.

volume increase 25960-100%

x = 95.2%, 100-95.2 = 4.8%.

6. Saving conditionally fixed costs thousand rubles.
23836*20/100 = 4767, 2.
25960*20/100 = 5192.
5192*100/23836 = 21, 78.
3840*0, 2*4, 8/100=36, 86.
7. Savings on capital investments thousand rubles.
301, 69*0, 15*4, 8/100=2, 2.
8. Annual economic effect, thousand rubles.
2, 2 + 36, 86 +10*0, 15 = 40, 1.

Thus, the economic effect of this event amounted to 40,100 rubles

The introduction of a new structure of the marketing service of the Art-Grand Victoria Group of Companies will reduce production costs.

The initial data for calculating the economic effect are presented in Table 7.

Table 7 Initial data for calculating the economic effect.

Economic efficiency calculation:

1. Let’s find the time savings, person-hour.

Evr = (20*18*236)/60.

where 20 is time savings per shift, min.

18 - number of people involved in the event
236-annual time fund, days
60 - conversion to hours

2. Reduced labor intensity, standard hours.

St=Evr*K, (13)

where St is the reduction in labor intensity, standard hour

Evr - time saving

K - conversion factor

St = 1416 *1.05 = 1486.8.

3. We will calculate the savings in headcount, people.

Ech=St/(Fch*K), (14)

where Ech is the economy of numbers;

St - reduction in labor intensity;

FC - annual fund in days.

1486, 8 / (236*10*1, 05) = 0, 6.
4. Calculation of labor productivity
- for the events involved

Ptr = (Ech*100)/(Chsr - Ech), (15)

where Ptr is labor productivity, %,

Ech-savings of numbers;

Number of workers involved in the event.

Ptr = (0.6*100)/(18 - 0.6) = 3.4.

5. Savings from cost reduction, rub.

Esb=Ech*Fzl*1, 385, (16)

where FZL is the average annual wage fund for one employee;

Esb=0.6* 30000* 1.385 = 24930.

6. Let's calculate the payback of events, year.

Tok.f=Zed/Esb, (17)

where Zed is one-time costs

Current f. = 1500/ 24930 = 0.06.

7. Annual economic effect, rub.

Eg=Esb - (K*Zed) (18)

Eg = 24930 - (0.15*1500) = 24705.

Thus, the annual economic effect of this event amounted to 24,705 rubles.

We will enter all calculated measures and the annual economic effect from their implementation in Table 8.

Table 8 Final table of the effectiveness of measures to improve the marketing service of the Art-Grand Victoria hotel.

Thus, the total economic effect from the proposed measures will be 17408 +40100 + 24705 = 82213 rubles.

The main purpose of this subsection of the thesis is the economic justification of design solutions developed in accordance with the specific topic of the thesis.

Any management decision can be considered effective if it is the best and is chosen from many alternative solutions. As part of the thesis, due to limitations in the scope of research, it is sufficient to use two (or three) options for comparison.

This section of the methodological recommendations provides different methods for calculating efficiency, with the help of which a student can evaluate the compared options according to different areas of the thesis. It is mandatory that the calculations be specific and that they are interconnected with other sections of the project. The conclusions obtained must be supported by the necessary calculations and meet the characteristics of the chosen research topic.

In general, the composition and content of the current subsection of the thesis is agreed upon with the supervisor. However, the essence of this subsection must correspond to the general unified structure:

a) identification and formulation of an economic problem that needs to be solved, formulation of the goals and objectives of the research, which is carried out within the framework of the subsection;

b) justification of indicators with the help of which it is possible to assess the effectiveness of the measures proposed in the work;

c) selection and justification of the methodology for assessing economic efficiency;

d) making calculations: cost estimation; valuation of useful results; bringing the compared options to a consistent form (if necessary); calculation of economic and other types of effect and efficiency;

Thus, the implementation of the economic section should begin from outlining the area of activity of the enterprise that concerns the recommendations and improvements proposed in the thesis.

It is necessary to note the main shortcomings of the enterprise’s activities in terms of the topic of the thesis and the directions for its improvement through the implementation of the proposed measures.

Let us recall that in the economic assessment of proposed innovative measures, a distinction is made between effect and effectiveness.

Effect is an absolute assessment of the useful result achieved through the development and/or use of innovations. The effect may be:

A) economic– consists of assessing the difference between the results of the economic activity of the subject and the costs (efforts) to obtain them. Such an effect is usually measured as the difference between the cash flow from such an activity and the cash flow relative to its implementation. However, this does not mean that the economic effect is always expressed in monetary terms. Indicators of economic effect include those measured in monetary terms, for example: profit from the licensing activities of an enterprise; profit from the introduction of innovations into the activities of the enterprise;

b) social- determined by assessing the living conditions of people, as a result of transformations in the social sphere - a set of areas, enterprises, organizations that directly determine the way and standard of living of people, their well-being and consumption. At the same time, a social effect can be obtained directly at the enterprise, for example: increasing the level of workers' wages; increasing the level of safety for workers; increase in the number of jobs; improvement of working conditions, etc.;

V) environmental– consists of assessing the environmental harm that was prevented (or not) as a result of appropriate efforts. The specificity of this type of effect is the difficulty of identifying all harmful effects on the environment. These can be both direct (explicit) consequences, for example, the generation of production waste, and indirect (implicit) consequences, such as the impact on human health. An example of an environmental effect indicator could be a reduction in environmental tax and/or the number of fines for violations of environmental legislation, etc.;

G) scientific and technical– consists of growing and/or increasing the volume and/or quality of scientific knowledge and corresponding new technical solutions to existing practical problems, through a combination of interacting factors of production that ensure the acceleration of scientific and technical development of the subject of activity. For example, manifestations of scientific and technical effect include: an increase in the number of registered copyright certificates; increase in the number of publications (citation index); increasing the production automation rate, etc.

Efficiency, in turn, is assessed by comparing the obtained useful results with the costs that caused them.

When choosing technical and economic indicators, one must proceed from the following requirements:

a) indicators must be economically justified and characterize different aspects of the phenomenon under study, provide a complete and reliable description;

b) the selected indicators must be quantified and calculated based on available statistical data.

The next step is to introduce the necessary restrictions in accordance with the object of study. Thus, it becomes possible to determine the criterion for the effectiveness of the proposed measures (recommendations) and the methodology for its evaluation. Based on the established effectiveness criterion, which allows one to evaluate the relative advantage of one or another activity (recommendation), indicators are selected for a specific situation. Grouping and processing of meaningful information is carried out on the basis of the selected method (economic-statistical, economic-mathematical, expert, etc.), collection of initial data.

Note that the choice of certain technical and economic indicators must be justified, that is, the feasibility of their use must be proven in the work. In addition, comparison of options can only be carried out if it is possible to compare the source data.

Most often, two alternative situations are used to assess the effectiveness of the implementation of certain measures:

a) the enterprise has implemented the proposed measures (recommendations);

b) the enterprise did not implement the proposed measures (recommendations).

Further, from the variety of existing methods for assessing economic efficiency, a method for calculating economic efficiency and associated results (scientific, organizational and managerial, social, economic, foreign economic) is selected that would best meet the goals of the current study.

The entire set of indicators for determining the economic effect and efficiency of innovation can be divided into two groups: accounting and discounted (Fig. 5.1).

Accounting (simple) indicators assessments of the economic effect and economic efficiency of innovations are indicators that are calculated on the basis of data from the financial statements of a business entity. That is, these are the indicators that reflect the effectiveness of the decision (innovation) made in terms of the target impact already achieved and the result already obtained.

In other words, these indicators reflect the effectiveness of the past management decision regarding the choice of innovation option - at the final stage of its implementation, when the question arises regarding the assessment of its feasibility.

Figure 5.1 shows only the so-called general accounting indicators of economic effect and economic efficiency. After all, private indicators are derived from general indicators and can be calculated for any aspect of the activity of a business entity that reflects the financial reporting data of such an entity.

Figure 5.1. Generalized classification of indicators for assessing the economic effect and economic efficiency of innovations

Thus, accounting profit is an indicator that characterizes the difference between the expenses and income of a business entity, which are reflected in the reporting of the business entity. There are:

a) profit (loss) from the sale of products, implementation of work/provision of services for a certain period, which is defined as the difference between the proceeds from the sale of products (implementation of work/provision of services) in prices without excise duty, value added tax and the full cost of products sold (works performed/services provided);

b) balance sheet profit is the algebraic sum of financial results from all types of activities of a business entity for a certain period of its activity;

c) net profit - the difference between the balance sheet profit of a business entity and the amount of income tax paid.

Indicators of relative resource savings usually reflect the absolute difference between the average cost of resources in the base and reporting periods, respectively. There are indicators of relative savings: fixed production assets of the subject; standardized working capital; material costs; wage fund, etc.

The overall profitability of production characterizes the efficiency of using the production assets of a business entity and is calculated as the ratio of balance sheet or net profit to the sum of the average annual cost of fixed production assets and the cost of normalized working capital. Thus, this indicator reflects the average annual value of balance sheet or net profit per 1 monetary unit of the cost of production assets of a business entity. The reciprocal value will show how many monetary units of the value of the production assets of a business entity are contained in 1 monetary unit of profit.

The product profitability indicator is calculated as the ratio of the profit from the sale of a certain innovation to the cost of its production over a certain period of time.

Indicators of the efficiency of resource use are calculated as the ratio of the valuation of the results of use and the cost of these resources. They are conventionally divided into three main groups:

a) indicators for assessing the effectiveness of the use of work, for example: work productivity - the ratio of the volume of innovation production in value terms and the number of production personnel for a certain period of time; growth rate of work productivity - the ratio of work productivity, respectively, in the reporting and base periods, etc.;

b) indicators for assessing the use of fixed production assets, working capital and capital investments, for example: capital productivity - the ratio of the volume of production of marketable innovative products in value terms and the cost of fixed production assets of a business entity for a certain period; capital intensity – an indicator of reverse capital productivity; working capital turnover ratio - the ratio of the volume of innovative products sold to the average balance of working capital for a certain period of time, etc.;

c) indicators for assessing the efficiency of using material resources, for example: material intensity - the ratio of the cost volume of material resources (without depreciation) and the volume of innovative products produced in value terms for a certain period of time; the ratio of the growth rate of material costs and the growth rate of innovative products, the coefficient of development of new products - the ratio of revenue from the sale of new or improved products and the total revenue from the sale of all products, etc.

Discounted indicators assessments of the economic effect and economic efficiency of innovations are indicators that are calculated for the life cycle of a project based on data from the financial statements of a business entity (or forecast data) taking into account factors of inflation, uncertainty and risk.

The discount factor () is calculated using the following formula:

(5.1)

where is the standard coefficient adopted by the investor for bringing different expenses and results at different times, dollar units;

– number of the accounting year to which expenses and results at different times lead;

– number of the year, the expenses and results of which lead to the calculated one (0 or 1).

The calculation year should be zero if the main investments are made in the first half of the first year. If they are invested in the second half of the first year, then the first year must be taken as the accounting year.

Note that, as a rule, the annual bank interest rate on deposits/loans is used as the basis for the standard efficiency ratio of capital investments.

To assess the overall economic effect from the introduction of innovations, the indicator of integral economic effect (net present value) is most often used, which is calculated as the difference between the results from the introduction of innovation and the costs relative to its initiation, reduced to one (usually the initial) year. In its most general form, it can be calculated as follows:

(5.2)

where is the integral economic effect from the introduction of innovations, den. units;

– cash flow at the end of period t, UAH units;

And– time value of money for a given firm (discount rate), US dollars;

n – life cycle of an innovation (investment) project, years.

The generally accepted conclusion is that:

a) if innovation should be carried out, the business entity will receive the desired profits;

b) if – the innovation should be rejected – the business entity will have losses;

c) if the innovation breaks even, the business entity will not have losses, but will not receive profits that the investor would be able to receive if the investment resources were used for other purposes.

Innovation profitability index () is an indicator that is calculated as the ratio of reduced (discounted) income from the introduction/sale of innovation to total capital investments.

(5.3)

According to this formula, we can conclude that the numerator of this formula contains the indicator of discounted income (profits) from the introduction/implementation of innovation, and the denominator contains the volume of investments reduced to the time of their start. That is, there is a comparison of two payment streams: income and expenditure (investment). So, this indicator characterizes income per unit of expenditure, and it is used when choosing one project from a number of alternative ones that have approximately the same value. If >0, then >1, and vice versa. When comparing innovations, preference should be given to those that provide the greatest.

Internal innovation profitability indicator (IRR) is calculated by sequentially determining such a discount rate ( IRR), at which the value of discounted income will be equal to discounted costs relative to its implementation:

(5.4)

where T – duration life cycle innovation (investment) project, years;

P t – explicit profit from the implementation of the project in year t, den. units;

And t is depreciation for renovation in year t, den. units;

E t – valuation of associated social, environmental and economic benefits obtained in year t, penny. od.;

Undert– income tax in year t, penny. od.;

Lt- liquidation balance or proceeds from the sale of property that is disposed of in year t, minus related expenses, den. units;

t– the year, the results and expenses of which are reduced to the calculated one;

KΣ– total capital investments for the implementation of the project, reduced to the initial point in time, den. units;

And– time value of money for a given company (discount rate), dollars.

In other words, IRR will be equal to a value at which the net present value of introducing/implementing an innovation will be zero. This coefficient, multiplied by 100, reflects the maximum annual bank interest at which a loan can be obtained for the specified event (innovation) and repaid without loss. The larger the value IRR, the more effective the project.

The payback period of an innovation is an indicator that determines the number of years required to return the funds invested in the introduction/implementation of an innovation. If income is distributed unevenly, then the payback period is calculated using the discounted payback period (DPBP) - a direct calculation of the number of years over which the investment will be repaid by cumulative income, and is calculated based on the following equation:

(5.5)

where DPBP is the discounted payback period, years.

In addition to the above indicators, to determine economic efficiency innovation activity innovation producers use indicators of sustainability and sensitivity of its main economic characteristics to changes in internal and external parameters.

In general, the problem of determining the economic effect and choosing the most promising options for implementing innovation requires, on the one hand, the final results from its use to exceed the costs of development, production and implementation, and on the other, to compare the results obtained with the results from the implementation of similar implementation options innovation.

The subsection ends with the formation of conclusions and corresponding recommendations.

Methods for assessing the effectiveness of innovations are set out in detail in the disciplines: “Investing” and “Assessing the economic efficiency of innovations”.

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Economic efficiency of planned activities. Economic efficiency. What is an assessment of the effectiveness of activities

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