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27.02.202402.2024с 01.01.2024
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Journal section "Sustainable development of territories, branches, and production complexes"

Development of a Mechanism for Eff ective Formation and Use of Economic Potential of Enterprises of the Tourism and Recreational Sphere

Klimchuk S.V., Nadvornaya G.G., Oborin M.S., Gvarliani T.E.

1 (87), 2017

Development of a Mechanism for Eff ective Formation and Use of Economic Potential of Enterprises of the Tourism and Recreational Sphere / Klimchuk S.V., Nadvornaya G.G., Oborin M.S., Gvarliani T.E.. Problems of Territory's Development, 2017, no. 1 (87), pp. 45-58

Abstract   |   Authors   |   References
The system for managing the development of the tourism and recreational sphere in the Republic of Crimea at the present stage has not received proper development. Direct and indirect impact of the state on this sphere is, doubtless, manifested in the formation of the legal field for the realization of tourism and recreational activities, targeted impact of public authorities on the development of the tourism industry and the creation of conditions for effective cooperation between state and regional authorities, local governments and the private sector on tourism development through administrative, organizational, economic, legal, environmental and other mechanisms. However, the economic efficiency of functioning of the tourist-recreational sector of Crimea can not be achieved solely at the expense of stimulating measures undertaken by the state. The efforts of state and regional authorities for the development of the tourist-recreational sphere of the Republic of Crimea should be closely associated with actions of the enterprises, aimed at improving performance through effective management of economic potential. This necessitates the development of scientifically based concepts for the development of the tourist and recreational sphere, describes the mechanisms of formation and effective use of the economic potential of this sector, promoting the increase in the efficiency of activity of tourism and recreation subjects at the expense of finding new reserves of economic growth. The aim of the present research is to make a theoretical and methodological substantiation and to develop a mechanism for the formation and effective use of economic potential of enterprises in the tourist and recreational sphere of the Republic of Crimea. In the course of the study the authors classify and systematize modern trends in the development of the tourist and recreational sphere. They identify key criteria and areas of adaptation of the economic potential of enterprises of this sector to modern business environments. The article indicates a mechanism for the formation and effective use of the economic potential of enterprises in the tourist and recreational sphere of the Republic of Crimea. In contrast to existing ones, the mechanism for the formation and effective use of the economic potential of enterprises is based on the methodological approach earlier proposed by the authors for the effective formation and use of the economic potential of enterprises and its evaluation aimed at revealing the reserves of growth by determining the effective interaction of the two main components of evaluating the economic potential of enterprises – liquidity (assessment of efficiency of formation and use of economic resources) and profitability (efficiency assessment of economic performance). The proposed mechanism for the effective functioning of the economic potential of enterprises in the tourist and recreational sphere includes all the significant components of reproduction at the enterprise level, and their interaction with the state, taking into account not only its implementation at present, but the possibilities of its intensification in the future. In other words, it focuses on the identification of reserves and inclusion of qualitative drivers of economic growth, which depends on the interaction of economic resources and economic performance of the subjects of tourism and recreation

Keywords

profitability, economic efficiency, resources of enterprises, economic performance, tourism and recreational sphere of the republic of crimea, economic potential of enterprises, mechanism for the formation and effective use of the economic potential of enterprises, liquidity

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