Formation of economic mechanism of ore mining and processing industrial complex and its evaluation (at the example of the northern mine-building combinate)

Lysevich, Sergey and Лисевич, Сергій Григорович and Лисевич, Сергей Григорьевич (2019) Formation of economic mechanism of ore mining and processing industrial complex and its evaluation (at the example of the northern mine-building combinate). Вісник Донецького університету економіки і торгівлі імені Михайла Туган-Барановського (1 (70)). pp. 5-11. ISSN 2079-4819

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Abstract

Based on research papers investigation, it is found that the economic mech¬anism of an enterprise is a controversial issue in terms of its structure. Scientists consider the economic mechanism to be amorphous because it is not sufficiently studied, substantiated and practically used. Functions of the economic mechanism include: application of economic laws; solution of socio-economic contradictions; establishing property relations; ensuring comprehensive personal development; encouraging scientific and technological progress; ra¬tional use of resources, etc. Taking into account its importance for the activity of an enterprise, the economic mechanism of iron-ore dressing works are formed (a case study of Northern Iron-Ore Dressing Works). Functions of the components of this mechanism are presented. The system of the economic mechanism indices of PJSC Northern GOK is formed and evaluated based on statistical data. It is found that the increase in sales in monetary terms was achieved due to the increase in the price of products. In general, over the last two years, the plant was improved, which indicates the effectiveness of its economic mechanism. It is noted that 96.4 % of shares belong to one owner. Such a situation does not contribute to making effective mana¬gerial decisions because leading world companies tend to allocate property among personnel and involve it in management. This should be taken into account at the specified plant when making managerial decisions. The obtained scientific results will become the basis for further research of economic mechanisms of other mining and concentrating combines of Kryviy Rih.

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