ECONOMIC CONTROL AS A COMPONENT OF THE ORGANIZATION'S MANAGEMENT SYSTEM

Abstract

The article explores the essence and role of economic control as a key component of an organization’s management system. It is substantiated that, under modern economic conditions, economic control is transforming from a traditional function of monitoring and detecting deviations into a proactive management tool aimed at ensuring financial stability, improving resource efficiency, minimizing risks, and achieving strategic objectives. The study emphasizes that effective economic control provides a reliable informational and analytical basis for managerial decision-making and enhances the overall adaptability of organizations to dynamic and uncertain external environments. The main policy directions of economic control are identified and systematized, including: financial stability and solvency policy, efficient use of resources policy, risk management and economic security policy, performance and productivity policy, as well as transparency and compliance policy. Each of these directions is implemented through a set of specific instruments that together form an integrated control mechanism within the management system. The content and functional purpose of key economic control tools are examined, including financial analysis, cash flow control, budgeting, cost standardization, risk analysis, internal and external audit, key performance indicators (KPIs), management accounting, and internal regulations and standards. It is demonstrated that the integrated application of these instruments ensures higher efficiency and consistency of managerial decisions, strengthens financial discipline, increases transparency of business processes, and supports sustainable organizational development. The findings confirm that an effective economic control system plays a decisive role in enhancing the competitiveness, financial resilience, and long-term growth of an organization. The study also highlights the importance of further development of economic control tools in the context of digitalization and increasing uncertainty, particularly regarding their integration into strategic management and corporate governance practices.