CONCEPT OF MANAGEMENT AND FORMATION OF FINANCIAL POTENTIAL OF CLUSTER UNIONS
Authors: Puzyrova Polina V. 
Published: September 2019

Introduction and purpose of research. A prerequisite for effective, stable and competitive functioning of cluster unions is the totality of its financial resources and capabilities – financial potential. The financial potential of a cluster is a combination of combined financial opportunities, resources and financial capital, the main purpose of the formation and use of which is to maximize income and maintain a stable competitive position in the market. Management and formation of the necessary size of the financial potential of cluster unions, which is necessary for the effective operation of the enterprise, is carried out under the influence of a set of certain characteristics of the activities of cluster unions, their priorities, goals, functions, etc.The hypothesis of scientific research. The concept of management, formation and development of the financial potential of cluster unions will improve the production and economic activities of clusters, their financial and economic situation and investment and innovative attractiveness for external investors.The aim of research: an in-depth study of the concept of management and the formation of the financial potential of cluster unions will lead to competitive production and economic activities, maximization of profits and investment and innovative attractiveness.Methods of research.- general scientific and special methods – in the study of the theoretical foundations of the essence of cluster formations, the disclosure of the essence of "financial potential", the definition of general scientific principles that are the basis for building research on the financial potential of cluster formations;- functional and system analysis – when highlighting the features and patterns of the formation and functioning of cluster formations;- systematization and generalization – in the study, analysis and comparison of domestic and world experience in the management, formation and development of cluster unions to establish the characteristics of the formation of their financial potential.Results: it was established that the concept of management, formation and development of the financial potential of cluster unions should take into account the presence of such factors that significantly affect the value of financial potential, namely: the need to ensure the optimal value according to the chosen criterion; the presence and effectiveness of functional relationships between individual cluster members; determining the results of using financial potential and assessing the contribution of individual cluster members to its formation; approaches to the distribution of financial results of the cluster and determining the directions of their use.Conclusions: on the basis of the study, it can be concluded that the concept of management and the formation of the financial potential of cluster unions is considered as a general mechanism for attracting, managing and optimizing financial resources and financial capabilities in the formation of financial potential, which will allow cluster unions to remain in a competitive state, to be profitable and maximize profits.