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Long-Term Planning and Forecasting Efficiency of Entrepreneurial Activity



D.A. Gudzovsky
sun-kent@mail.ru
candidate for PhD at the Department of Economics and Financial Management of Baltic Academy of Tourism and Entrepreneurship
St. Petersburg
We look at long-term planning of entrepreneurial activity of business entities as a functional instrument to achieve the goal under the conditions of extrapolation trends of changes in the external environment.

Keywords:

  • entrepreneurial activity
  • long-term planning
  • influence of external environment factors
  • forecasting economic and financial results
  • The relevance of our research consists in applying the provisions of long-term planning theory in the practice of entrepreneurial activity of a business entity as the main functional tool of its economic development. Proper use of the theoretical basis of long-term planning in practice results in achieving high qualitative and quantitative characteristics of business activity securing its resource and technological elements’ interaction within extrapolation changes of negative environmental factors’ influence. The article is structured in accordance with the idea of the long-term development system as the main function of managing an entrepreneurial structure enabling the management to comply with the criteria principle of optimizing the resources used according to retrospective trends under unstable market environment. Long-term planning being the main function of managing middle- and long-term development of entrepreneurial structures acts as an integrator of inertial forecasting and planned assessment of financial and economic results, the effectiveness of entrepreneurial activity under the economic innovation external environment. The research contributed to expanding theoretical concepts concerning the purpose of long-term planning, its role in achieving forecasted financial and economic results, the effectiveness of entrepreneurial activity.

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