Business productivity assessment

Purpose. Analyze the existing indicators for assessing the performance of the enterprise, identify their shortcomings, propose a system of indicators that characterize the productivity of enterprises from the point of view of the whole society, and not just their owners. Methodology/approach. The comparative analysis revealed the advantages and disadvantages of using the indicators “output”, “profit”, “gross value added”, “economic value added”, “shareholder value added”, and “market value added” to assess productivity of enterprises. It is shown that the indicator “gross value added” gives the most comprehensive idea of the productivity of enterprises. A number of derived indicators of enterprise productivity assessment based on gross value added are proposed. As an information base, time series of statistical data by types of economic activity of enterprises in the period 2012–2019 were used. Results. The results of assessing of the productivity of enterprises on the basis of gross value added indicate a decrease in enterprise productivity in 2012–2019, an intensification of the deindustrialization process in Ukraine, and an imbalance in the distribution of gross value added between trade and other economic activities. It is proposed to use the indicator “gross value added” in statistics and accounting as the main indicator of enterprise productivity. Originality/scientific novelty. A scientific justification for the use of gross value added as an integral indicator for evaluating the enterprise productivity is proposed. It is shown that this indicator has greater analytical value than the indicators “output”, “profit”, “economic value added”, “shareholder value added”, and “market value added”. Practical value/implications. It is shown that the indicator “gross value added” reflects the interests of the whole society, not only the owners of enterprises, and also provides a single conceptual basis for assessing the results of economic activity at the micro, meso, and macro levels.