Innovative financial management strategy in the context of amalgamation of territorial communities
DOI:
https://doi.org/10.15549/jeecar.v9i6.975Keywords:
Amalgamated Territorial Communities, Decentralization, Financial Management, Globalization, InvestmentAbstract
The aim of the article was to form an effective strategy of financial management in the context of amalgamated territorial communities, and to identify possible directions of socio-economic development, threats and opportunities under the conditions of globalization and instability of external and internal environments. This strategy is a specific action plan for the territorial community on the allocation of financial resources and indicators that shape it. The aim provided for the following methods: SWOT analysis, frame construction based on the reframing theory, expert evaluations. The study presents a strategy that is implemented over a period of 5 years, taking into account the strengths and weaknesses of the selected territorial community, using the reframing theory and performance calculation. It is determined that the factor of human potential assessment is one of the most important in the internal environment. Prospects for further research are to analyze the current strategy in terms of financial factors appropriate for and inherent in individual amalgamated territorial community (ATC), as well as to determine the temporal, territorial, and mental aspects.
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