Issue #4 (Volume 18 2019)
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ReleasedMarch 31, 2020
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Articles5
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8 Authors
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5 Tables
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10 Figures
- budget adjustment
- budget control
- business network
- buying and selling
- concept
- digitalization
- digital transformation
- diminishing returns
- economic activity
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Conceptual approaches to economic growth: the need to transform national financial policy imperatives
Turbulent global processes, driven by the slowdown in the economy growing, including developed countries, require further understanding of the role of financial factors, the heterogeneous impact of which is conditioned by the globalization of financial markets. The analysis of existing conceptual approaches to economic growth allows identifying bottlenecks of the national financial architecture and specifying positive aspects of successful development. The study proved the need to generalize the provisions of the Keynesian and neo-liberal theory (avoiding unipolar compositions financial architecture), supplementing them with recommendations for implementing financial dirigisme in the face of economic shocks. Given the need to transform national financial policies, the focus is on creating conditions for development of the real economy, as a main source of economic growth, through the government support.
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Purchasing decisions making in the context of digital transformation of retail
The paper analyzes the impact of retail transformation on the consumers’ expectations and behavior in the electronic environment and identifies the main directions of digitalization of the marketing activities of domestic retail enterprises at each stage of the purchasing decision-making process. It also systematizes the consumer expectations in the context of the digital transformation of retail, which made it possible to establish the importance of managing customer acquisition for retailers and demonstrated how technology changes the way customers purchase. The results of an online study of the impact of marketing efforts in retail outlets to highlight digital transformation tools at every stage of consumer decision-making by consumers are presented and the main directions of digitalization of marketing activities of domestic retail enterprises are summarized. The legitimacy of taking consumer expectations into account when determining the impact on the business model of retailers, returning it to the plane of mobility, digitalizing the purchase process, and the integration of digital and physical trading, has been proven. It is suggested to consider the main areas of digital transformation as digital interaction with customers, innovation in the development of products and services, distribution channels, marketing and sales; digital implementation, risk optimization, strengthening corporate control, intelligent information management and customer service, managing customer and contact center experience, customer relationship management. This made it possible to specify promising areas of digital transformation in the retail industry, in particular, optimizing human resources, creating new ways of cooperation, attracting labor and assistance (flexible work, social cooperation, corporate cooperation, integrated communications), as well as employee training for the retail industry.
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Methods of ensuring flexibility of the budget process at holding enterprises of energy industry
Achieving business success for a company is directly related to financial planning, budgeting and analysis of results. Any system is viable if it includes feedback elements that provide an analysis of what the system has done and current adjustments to the system’s behavior as signals about its state. The article deals with the features of the budget process at energy enterprises as part of vertically oriented holding structures. The system formed by such enterprises is very complex, so it is necessary to take additional measures to maintain the efficiency of the budget process in such conditions. Therefore, an important issue is the organization of effective control in the budget execution system to make operational management decisions, which turns it into an effective tool for managing the enterprise. The essence and importance of budget control of energy companies are revealed. The paper deals with the organization of budget planning at an enterprise of the energy industry. Models for budget development and budget execution processes were built and budget limits were adjusted for enterprises using the IDEF0 methodology. The methods of control over the budget execution of energy industry enterprises are considered. The essence and types of the process of adjusting the budget of enterprises are revealed.
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Assessment of social and environmental dimensions of stockbreeding efficiency at agricultural enterprises
The article explores theoretical and practical approaches to determining the nature of social, economic and environmental efficiency and evaluates social, economic, and environmental efficiency of cattle breeding in Ukraine. Negative trends in the industry are revealed accompanied by a decrease in the number of cattle, including cows, a decrease in production volumes of the industry, loss of production of cattle meat and a low level of profitability of milk production. To develop a motivational mechanism for improving the performance of social, economic and environmental functions of the stockbreeding industry by agricultural enterprises, a mechanism for raising its income has been proposed. The use of the socio-economic-environmental coefficient (SEEC) as an element of the proposed mechanism is justified. SEEC is an integral indicator of the social, economic and environmental efficiency of the stockbreeding development. This coefficient was verified through the example of agricultural enterprises of Kharkiv region, which in 2018 produced stockbreeding products. The relationship between SEEC and stockbreeding performance indicators was found to be related to the law of diminishing returns from changes in cost recovery due to income from milk sales and profit per cow. The maximum cost-recovery value is achieved with an SEEC of 2.1. According to a survey of 91 agricultural enterprises, only four enterprises could receive financial support for the high rates of social, economic and environmental efficiency of cattle breeding. In 2018, the amount of such support could be UAH 52,626.2 thousand.
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Development of a structural-functional model for the implementation of the methodological approach to assessing the business network effectiveness
During the economic crisis, to ensure sustainable development, the use of network forms of business organization in Ukraine is one of the most effective. However, given that business networks are hierarchical organizations, the problem of continuous monitoring of economic activity is updated to make the necessary effective management decisions. In this paper, using the structural and functional modeling method, a model is developed, which is an integral part of the methodological approach to assessing the business network effectiveness. The model combines empirical, theoretical and mathematical approaches to assessing the effectiveness of the network-based business organization and is based on a combination of qualitative and quantitative characteristics of business network activity. This approach ensures the objectivity of evaluating the properties of its functioning. A system of factors for a qualitative assessment of the effectiveness of a business network functioning was determined by an expert assessment method involving 40 managers of four companies in Ukraine. Determining the result deviations, in comparison with the accepted factors of the qualitative characteristics of networks, reveals the existing trends in the development of future events in terms of the risk of certain types of the business network activity. The results obtained are practical and will be useful for business network managers in developing an effective management strategy.