What are the responsibilities of an economist in an enterprise?
What do economists do in the enterprise?
The main responsibility of an economist or a group of specialists separated into a separate economic service is to ensure the most efficient operation of the enterprise. They analyze the economic activities of the company based on the monitoring of statistical data and key financial indicators and, based on its results, develop and coordinate the implementation of planned tasks.
Planned tasks are developed taking into account the economic and financial forecast, market conditions, the planned demand for the company's products and many other indicators affecting the end result - improving the efficiency of the enterprise, improving the quality of its products and labor productivity.
A modern economist cannot simply fulfill his duties without failing to organize a timely accounting of all financial and economic indicators of the enterprise’s activities. Therefore, database maintenance and change monitoring are also a mandatory part of the economist’s work. This is the basis for the correct forecasting and calculation of labor, material and financial costs necessary for the full and successful activity of the enterprise.
What an economist should know
In order for the enterprise’s financial and economic activity to always be in the legal field, the economist needs to know all the current legal acts, federal and regional legislation governing this activity. He should also study and use in his work industry methodological materials on planning, accounting and analysis of the company's activities.
The economist should be familiar with the methods and procedures for the future and annual planning of the economic, financial and production activities of the enterprise, and know the basics and the procedure for drawing up business plans. For successful work, he will need knowledge of the basics of maintaining planning records, the procedure for setting standards for material, labor and financial costs. He should be well acquainted with the methods used to determine the economic efficiency of introducing new technologies, methods and equipment, innovation proposals and inventions.
The economist needs to master and use in his work modern methods of economic analysis and accounting of indicators of the enterprise’s activity, effective organization of labor. He must own software that allows automated automated operational and statistical accounting, know the order and timing of economic reporting.