INFLUENCE OF COMPONENTS OF ECONOMIC POTENTIAL ON THE EFFICIENCY AND COMPETITIVENESS OF AN AGRICULTURAL ENTERPRISE

Abstract

The issue of ensuring the country's food security based on a steady increase in the volume of production of agricultural products involves increasing the efficiency of the economic potential of enterprises in the agrarian sector of the economy. The potential of the enterprise and its competitiveness are important aspects of the modern business environment. The potential of the enterprise describes its possibilities for achieving the goal, development, and success in the future. This capacity may include a variety of resources, such as financial, human, technical, material, and intellectual, and the ability to use them effectively. The enterprise's competitiveness determines its ability to compete successfully in the market, attract customers, and ensure stable profits. This means that the company skillfully uses its potential to create innovative products or services, develop an effective marketing strategy, optimize production processes and resource management, and respond to changes in the competitive environment. A successful enterprise can maximize its potential to ensure a high level of competitiveness, which in turn allows it to conduct successful activities in the long term. Effective use of the economic potential of organizations provides for the most stable position of the business entity, characterized by the most effective use of all types of resources. The components of the economic potential of the enterprise have a significant impact on its success and competitiveness. Economic potential is formed and functions under various economic, social, technological, and political factors. Managing this potential requires understanding and managing all these aspects, as well as considering their interaction and impact on the organization's activities..