Integrated simulation modeling of financial sustainability management

Abstract

Simulation modeling is an important aid in making complex management decisions. With the help of simulation modeling, scientists can create theoretical models, explain modern phenomena, and predict future events. A key area in addressing these challenges is the development of approaches, models, and methods for their quantitative assessment and management, in line with the conditions of a market economy, which determines the relevance of the research topic.The purpose of this article is to study the application of simulation modeling in managing the financial stability of enterprises in a competitive environment and in the decision-making process to improve their effectiveness. The methodological basis of the study is the work of leading domestic scientists and experts in the field of simulation modeling of financial stability management. In solving the tasks set in the work, general scientific and special research methods were used: scientific abstraction, systematic generalization, structural-functional design, and comprehensive analysis. Results. The study found that the main objectives of simulation models are: tracking model time; automating the design process of the simulation program; automating the collection of statistical data. It was determined that financial stability management is potentially defined in production activities, and the indicators characterizing production efficiency should include parameters calculated in the system of direct costs, combining production and financial accounting. Comparative characteristics of simulation modeling approaches in the decision-making process have been developed, taking into account the limitations of covering the entire range and diversity of information characterizing the dynamics of the financial situation. Recommendations have been provided for creating a systematic approach and developing an algorithm for determining real strategic standards of financial stability management, which will help to understand the issues of its effectiveness and the functioning of its components based on the standards of a general functional system. Conclusions. Modern studies of simulation modeling in financial stability management cannot be imagined without the creation of economic and mathematical models that reflect the occurring processes. The use of new methodological techniques in the management practice of financial stability, made possible by modern achievements in the IT field, requires a significant revision of existing forms, methods, and techniques of enterprise management processes. The development of new organizational forms of financial stability management, which make it possible to fully utilize all the advantages of new methodological management techniques, is a promising area for further research.