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The idea of intensive management of a company lies in constant search of effective sources of financing enterprise economic activity. Working capital should play an important role in this financing. Working capital ought to become a basis for the growth of generated capital, and financial affect not divided. As a result it activates the development and enterprise's growth value of a company towards the growth of productivity and remunerative of the engaged fortune and costs.
The article concerns working capital and its role in strategy of the company. The factors which create the level of working capital were described. The analysis of working capital in the company from energy sector was also showed. In the last stage the results of the research of the demand for working capital were introduced. The working capital in the company was also estimated.
The paper presents changes of relations between net working capital management strategy in agricultural enterprises and effectiveness of main factors of production employment as well as efficiency of current assets and liquidity management. Employment of land and labour resources usually occurred to be the most effective in enterprises of con- j servative strategy of working capital management, whereas implementation of aggressive strategy resulted in losses. In the enterprises of conservative strategy, period of receivables and liabilities' turnover was satisfactory. It allowed to keep current and instant liquidity in the enterprises. The least stable situation was found in the enterprises of aggressive strategy, where was lack of liquidity. On the other hand, enterprises of moderate strategy were threatened by lose of liquidity. In the research period, the conservative way of activity financing, in comparison to the aggressive one, caused better effects. However, it should be considered that rational utilization of short-term loan capital results in increase of equity effectiveness.
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