Assessing the Effectiveness of Foreign Economic Activities Management on the Basis of Target Indicators

The concepts of “effect”, “efficiency” and “effectiveness” were considered. It is noted that efficiency is a broader concept because it does not take into account the achievement of individual results, in contrast to the concept of “effectiveness”. The main key groups of indicators that are most often used in assessing the effectiveness of foreign economic activity management are presented. The main problems related to the evaluation of the effectiveness of foreign economic activity management were listed including lack of a clearly structured system of targets; inefficiency of the formed evaluation model procedure; a narrow range of target indicators for evaluating the effectiveness of foreign economic activity that does not allow a multifaceted assessment of the results of its implementation. Such disadvantages in the management system often lead to problems with the definition of priority areas of foreign economic activity, objective assessment of cost, setting relevant goals, etc.
Based on the studies of both scientific sources and practitioners, using methods of comparison, generalization, questionnaires, etc., the stages of evaluating the effectiveness of foreign economic activity management are based on targets, which are combined in three blocks: preparatory, technological and analytical. The principles of evaluating the effectiveness of foreign economic activity management were proposed, such as objectivity, systematization, complexity, constructiveness, continuity. A system of indicators for evaluating the effectiveness of foreign economic activity management was recommended for import-oriented enterprises. And although the above list is known, but their systematic presentation allowed the management of enterprises to select the most appropriate indicators for them, through which they create quality management and effective management decisions for the development of foreign economic activity.