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4IN THE CONDITIONS OF MODERNIZATION IN UZBEKISTAN THE NEED TO EVALUATE ENTERPRISES
Musayeva Shoira Azimovna
Professor of Samarkand Institute of Economic and Service, Samarkand, Uzbekistan https://doi.org/10.5281/zenodo.7612142
Abstract. This article deals with determining the essence, content and place of property valuation in the enterprise, researching the methods and processes used in enterprise valuation, determining its value as a result of analysis, and developing methodological recommendations for improving the process of collecting marketing information.
Keywords: enterprise, property, modernization, assessment, process, method, improvement, analysis.
Introduction. As a result of expropriation of property from the state and its privatization, as a result of broad support for entrepreneurship, small and large enterprises (companies) of various forms of private ownership have appeared in the production and service sectors. Effective operation of such newly established enterprises, faster adaptation to the market environment, becoming a full-fledged market participant, as world practice shows, largely depends on their property management. Property management in the conditions of the market economy requires regular determination of the market value of the enterprise and its assets.
Before starting or continuing business in the market conditions, companies must first thoroughly analyze all their conditions and opportunities. As a result, a risk-based but also science-based program of action is developed. Adherence to it ensures correct and efficient use of funds.
Research methodology. Systematic approach, abstract-logical thinking, grouping, comparison, factor analysis, selective observation methods were used in the research process.
Analysis and results In the conditions of modernization and democratization of the country, it is necessary to ensure the steady movement of the economy by rationally evaluating enterprises and evaluating the consequences of the global crisis in our country, and the expected impact of today and tomorrow.
Results consists of:
• determining the nature, content and place of property valuation in the market economy;
• researching methods and processes used in enterprise valuation
• to reveal the characteristics of assessment activities in the context of the world financial and economic crisis;
• determination of its value as a result of the analysis of the enterprise's activity;
• determining the place and importance of marketing information in the assessment of the enterprise;
• in the process of evaluating the enterprise, analyzing the market situation and developing methodological recommendations for improving the process of collecting marketing information.
In situations where the long-term interests of our country required it, and when it was necessary to get out of critical situations and solve the problems caused by them, state management methods were used in the economy, and such an approach ultimately fully justified itself.
At this point, it should be noted that sufficient solid reserves have been created to ensure the stable and continuous operation of the financial-economic, budget, banking-credit system, as well as enterprises and sectors of the real sector of the economy, and there is a base of necessary resources.
Market economy is a form of emergence of a set of economic relations based on the performance of specific laws and functions of the market in the full sense. All aspects and features of market relations apply in this process.
An economic crisis can lead to disruption of the entire economic cycle and economic imbalance of the entire country. As a result of the assessment of the national wealth at the state level, the system of monetary and credit policy is defined. (Figure 1).
Drawing 1.
The need for evaluation in modern conditions and its effects
The economic crisis leads to the breakdown of this system, in particular, the breakdown of the system of evaluation of enterprises in the context of an economic crisis. As a result of the violation of the evaluation system, the value of the collateral decreases during the evaluation of enterprises in the context of an economic crisis. As a result, the flow of investment will decrease and production will also decrease.
Market entities, i.e. producers or buyers, must perform their activities in accordance with the existing structure of demand and supply, money circulation, competition and similar aspects. This ensures their survival or development. Otherwise, they will lose their place in market relations without being able to achieve the goal set before them.
Accordingly, enterprises cannot carry out their activities or achieve their goals without a thorough study of the current situation in the market and their internal capabilities.
Before starting or continuing business in the market conditions, companies must first thoroughly analyze all their conditions and opportunities. As a result, a risk-based but also science-based program of action is developed. Adherence to it ensures correct and efficient use of funds.
In connection with the formation of enterprises and the market, the objects to be studied for the subjects of analysis are also increasing. From infrastructure service in the market to supply, production, sales and other accounting and financial relations in the enterprise, that is, all stages of value creation and achievement became the object of analysis for them.
It is known that the market economy has a classification of volatility. Enterprises adapt their activities to the requirements set by him. This process requires the development and implementation of marketing research in the enterprise. As a result, it provides quick and efficient management of activities.
Therefore, under the influence of the external and internal environment, enterprises are forced to conduct their activities in the direction of marketing. Economic analysis methods are widely used in marketing research. The analysis of commercial activity in the enterprise is closely
combined with the marketing function. In this function, the analysis of the market where the company's goods are sold, food producers and consumers, competitiveness, offered service, demand and sales, price formation policy, internal and external environment in general is used as a methodological basis. The result provides the development of strategy and tactics and corresponding programs.
Scientifically developed business plans are a guide to action in market conditions. The scientific basis of the plan is directly related to economic analysis. Because the indicators are determined based on the market situation, the experience of the past years, normative, advanced enterprises and the state of internal capabilities.
This event is considered very important for property owners, and at each step or stage of the most effective way to use the funds, the action to be taken is clearly defined. The results obtained from it are calculated on a scientific basis. Therefore, each element of the planning work is first analyzed on the basis of alternatives in different ways. As a result, the most effective measures for using funds in the direction chosen as the best activity are clearly defined.
When enterprises begin to carry out production and commercial work, actual data is obtained and compared with the plan indicators. In this way, the reality of the plan is assessed, the positive or negative situations that have arisen are determined, and the extent to which the possibilities are foreseen is studied. Actual data is also directly linked to market conditions. Changes in the market and their positive or negative impact on the company's activities are quickly analyzed. Appropriate measures will be taken on this basis.
It is clear from what has been said that in the market conditions, all processes are analyzed analytically with the help of economic analysis, summarizing them by synthesis, making relevant decisions and having a precise impact on the enterprise's activity.
Today, Uzbekistan is an integral part of the international community and the global financial and economic market. Therefore, the global financial crisis and, first of all, its consequences have an impact on the development and efficiency of our economy.
Prices of precious and non-ferrous metals, cotton, uranium, oil products, mineral fertilizers and other products exported by Uzbekistan are falling due to the decrease in demand in the world market. This, in turn, leads to a decrease in the income of economic entities and investors from exports. It affects their profitability and production profitability, and ultimately the growth rate of macroeconomic indicators and other aspects of the economy.
With the recently adopted decree of the President of the Republic of Uzbekistan, it is envisaged to provide additional support to banks and financial structures in the fight against the consequences of the global financial crisis, and to implement measures aimed at strengthening and stimulating the activity of enterprises and companies of the real sector of the economy.
In a word, in our country, taking into account the consequences of the global crisis, today's and tomorrow's expected impact, strict, comprehensively thought out large-scale projects are being implemented today.
Today, the Program on implementation of important priority projects aimed at modernization of our economy, technical and technological renewal, sharp increase of its competitiveness, increase of export potential is being implemented.
In 2021, investments in the amount of 15 billion 800 million US dollars were attracted and absorbed for these purposes from all sources of financing. This means 9.5 percent more than in 2020. More than 3 billion 300 million dollars or more than 21 percent of total investments are foreign investments, so 73 percent are foreign direct investments.
67.1 percent of the investments were directed to the establishment of new production facilities. This made it possible to complete the construction and commissioning of 158 large production facilities with a total cost of 7 billion 400 million dollars in 2021.
For example, a steam-gas plant with a capacity of 370 megawatts was built at the Tashkent thermal power station, the hydrogen generators of the Chorvok hydroelectric power plant were modernized, the production of calcined soda was expanded at the Kungirot soda plant, and the production of new fertilizers with a complex composition of 240 thousand tons at the joint-stock company "Samarkandkimyo" the enterprise was launched. Also, the production of tractor trailers, including large-sized trailers, components for household appliances and other products was organized at the inactive production sites of the "Motor Factory" joint-stock company.
In this regard, according to preliminary estimates, we are working on about 300 investment projects with a total value of more than 24 billion US dollars. In particular, new construction projects amount to $18.5 billion, and modernization and reconstruction, technical and technological re-equipment projects amount to approximately $6 billion. These projects, which are planned to be included in the program, primarily belong to the fuel and energy, chemical, oil and gas processing, metallurgical industries, light and textile industry, building materials industry, machine building and other fields.
It is planned to finance the structures that are under construction with the following funds: own funds of companies and enterprises - a total of 8.2 billion dollars, loans from the Reconstruction and Development Fund of the Republic of Uzbekistan - 2.5 billion dollars, foreign investments and loans - 13.5 billion dollar.
In the Khorezm region, General Motors-Uzbekistan joint-stock company launched the production of Chevrolet Labo small truck based on a project with a total cost of about 6 million dollars. 5,000 such machines, which are very necessary for our farmers and private entrepreneurs, are produced here per year. It is worth noting that this model was the third type of car after "Damas" and "Orlando" produced at the new "Khorazm Auto" plant.
A solar photoelectric power plant with a capacity of 130 kilowatts was commissioned in the Pop district of the Namangan region. This project is currently being tested. By 2020, it is planned to commission three more solar power plants with a capacity of 100 megawatts each in our country.
High-speed electric train "Afrosiyob" has been launched on the Samarkand-Karshi railway section. This makes it possible to increase the quality and speed of passenger transportation on the Tashkent-Karshi route. As a result, the time of transporting passengers from our capital to Kashkadarya region and from Karshi to Tashkent was reduced by half.
Searching for large and small projects for technical and technological renewal of production to ensure product competitiveness, finding the necessary funds and resources for this is relevant for each individual enterprise and organization.
Today, the number of enterprises operating at a loss on the basis of obsolete equipment and technology, production of low-quality products that no one needs, which no one needs, and on the basis of outdated equipment and technology, under the pretext of ensuring local employment, by the heads of local bodies and network structures, exceeds 200.
Most of such enterprises remain in the light and food industry. However, the rapidly changing market demand in these areas requires changing the technique and technology in 5-7 years at most, and in developed countries in even shorter periods. It is necessary to fundamentally change this situation by declaring these enterprises bankrupt.
In conclusion, in the context of the global financial and economic crisis, the evaluation of enterprises becomes very important. The main driving force of the economy is direct production. In order to recover this mechanism and ensure its smooth functioning, it will be necessary to make investments in order to recover from the economic crisis. At this point, there is a need to evaluate enterprises in the rational direction of investment flows.
Estimating business value implies the need to collect and process systematic information that determines the external and internal conditions of this business operation. The size and nature of this information is determined depending on the purpose of the assessment. External information should reflect systemic and inflationary risks of business activity, as well as risks associated with changes in economic development rates, interest rates, exchange rates, etc. It should reflect the conditions of industry competition, sales markets and possible options for the use of the manufactured product, as well as factors affecting the potential volume of the manufactured product and changes in demand for it.
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