Business Inform

8-15

Authors: Tymoshenko O. V., Liskovetska T. P.

The article explores the current conditions of the development of Ukraine’s economy, accompanied by a significant decline in industrial production and in the indicators of financial-credit sector, deterioration of the competitiveness of real sector, technological backwardness, exports of products oriented to raw materials, high levels of corruption of the State institutions. The main systemic threats that hinder Ukraine’s sustainable socio-economic development have been researched: critical inhibition of economic growth; high level of shadow economy; excessive debt load; low level of investment attractiveness and innovation activity; non-rational structure of foreign trade. An analysis of the dynamics of shadow economy, the aggregate government debt, the main causes of the unfavorable investment climate and the commodity structure of foreign trade is carried out. The problems of transformation of the national economy have been outlined, and the priority tasks related to economic changes in Ukraine have been proposed. It is noted that despite the acceleration of economic growth in Ukraine in 2018-2019, uncertainty and increased external and internal risks have not disappeared, so further economic growth requires reforms in numerous directions. An effective mechanism for transforming Ukraine’s economic system has been proposed, which is focused not on outdated patterns of the 20th century, but on new institutional models. Promising directions of transformational public policy include a complex of measures to ensure conditions for the formation of modern financial-economic, organizational-institutional relations between the State and business entities, build-up of investment potential, activation of Ukraine’s innovation policy.

29-36

Authors: Shuba O. А., Travkina K. V.

The article is aimed at researching the level of debt stability of the countries that emit reserve currencies. The historical aspects of formation and development of the global structure of reserve currencies are considered in accordance with the functioning of existing currency systems. The current tendencies inherent in the institute of reserve currencies are analyzed. The State debt of the reserve currency emitters between 2000 and 2018 was explored, and the features of their debts were described. In view of the dominant positions of the US Dollar among reserve currencies, a retrospective analysis of the State debt of this country - emitter of reserve currency - is carried out. Also an analysis of securing the public debt by the United States, Great Britain, Japan, China, Canada, Australia, Switzerland and the Euro-zone is carried out. The results of the analysis suggest that the Swiss Franc and the Chinese Yuan are the most secured in terms of GDP together with gold and foreign currency exchange reserves among reserve currencies. Both Japan and the United States have a weak position as to debt stability. The hypothesis that most reserve currency emitting countries provide a high level of well-being of their population through a chronic balance-of-payments deficits, which leads to a constant increase in the State debt, is confirmed by the analysis results. Accordingly, a high standard of living in such countries is possible by using the resources acquired in debt. It is defined that this way of existence of reserve currency emitting countries is possible thanks to the virtual economy model. In addition, it is confirmed that the current reserve assets system does not provide an adequate level of stability on a global scale. The risks to the world economy are related to the vulnerability of the reserve currency emitters, specifically, in terms of the debt stability in these countries.

41-50

Authors: Mukhin V. V., Pysmenna U. Y., Lapko O. O.

The economic aspects of the development of natural gas trade are considered and the strategic directions of the formation of the single energy market model in the EU are generalized. The need to create a common energy security system for the EU countries and ways to resolve the problematic issues of diversification of natural gas supplies are substantiated. Prospects for the implementation of the national legislative acts into European legislation in the course of implementation of the EU’s energy security policy are considered. The main directions for achieving this are international agreements and the use of market practices in conjunction with regulatory methodology. Particular attention is paid to the formation of specialized institutions in the energy sphere. The theoretical and practical issues of structural transformation of the European natural gas market and related aspects of energy security are considered. Mechanisms for gas pricing for different participants of the gas market have been substantiated. The need to create an inter-regional gas hub in Ukraine, which will ensure the development of modern instruments of interregional trade in natural gas and allow the development of the system of underground gas storage facilities in Ukraine, is underlined. The latter is important for the concentration of significant volumes of commercial natural gas on Ukrainian territory, which is the key to a long-term energy security. The creation of conditions in the territory of Ukraine for the formation of a liquid, competitive and liberalized natural gas market will strengthen the mechanisms for protecting the national gas infrastructure. Changes in technology, market conjuncture and principles of collective regulation suggest evolving a dynamic system of use of different pricing mechanisms in regions and at the national gas markets.

62-68

Authors: Koleshchuk O. Y.

The article is aimed at forming structural transformations as a priority vector for development of the innovative potential of machine-building enterprises. The publication, upon the results of a carried out research, identifies that knowledge management has always been an integral part of quality strategic management. Enterprises must initiate innovative knowledge management projects to search ways to find, interpret, organize, spread and use the intellectually-creatively-innovative knowledge they have gained. It is proved that the innovative potential of machine-building enterprises includes not only the potential capabilities of an economic organizational system, but also the degree of attracting innovative technologies to their activities, as well as contributes to the growth of the the level of enterprises development. It is defined that the transfer of technologies is a strategically significant component of the innovative potential of a machine-building enterprise. Through the effective implementation of the technology transfer mechanism, machine-building enterprises will be able to step up the implementation and development of knowledge-intensive developments in the production activities and gain additional competitive advantages. The process of forming the transfer of technologies has been developed and a methodology of defining the process of innovativeness in domestic machine-building enterprises with the help of technology transfer has been proposed.

78-84

Authors: Silenko O. E., Pulina T. V., Khmara N. O.

The article is aimed at determining directions to improve the management of innovation activities of a research and production enterprise on the basis of assessing its innovation potential. The concepts of «innovation» and «innovation potential» have been explored and it has been proved that continuous innovation is a key part of ensuring the competitiveness of enterprise in both the short and long term perspective. An analysis of the research and production enterprise SOE «Ivchenko-Progres», which successfully applies the latest innovative technologies and introduces the latest developments in the engine-building sub-sector of the aviation industry, is carried out. A system of assessing the innovation potential of a research and production enterprise by the following indicators: personnel, intensity of turnover rates by professional group, materiel and technical support, level of development of the system of science and technology information, research and advanced development, organizational and managerial characteristics - is proposed. Based on the evaluation of the innovation potential of SOE «Ivchenko-Progres», ways to improve the management of innovation activities of a research and production enterprise have been defined.

91-99

Authors: Protsenko A. V.

The article defines that the current economic condition of most Ukrainian industrial energy enterprises is characterized by the qualities typical of transition to market conditions: general financial-economic instability, cyclical phases of recession and depressions, slight increase in production volumes. In these circumstances, the performance of any enterprise is significantly fluctuating. Nevertheless, the amount of financing is considered today as the main criterion for sustainable development of each individual enterprise, and the national economy as a whole. Improving the efficiency of economic entities depends on improving the information provision of managerial functions on the basis of use of modern software products. All the levers of control require quality changes. The financial-economic situation of industrial energy enterprises depends to a large extent on the rationality of building the conception of management of the structural transformations of innovative potential, which requires an appropriate evaluation and elaboration of certain management actions. It is concluded that a significant conceptual role in the strategic analysis of the management of structural transformations of the innovative potential of industrial energy enterprises is assigned to the identification of parameters, that is, the identification of the considered parameter’s degree of matching with certain values that can be critical, marginal, or maximum possible. Defining these values represents the final stage of the analysis of the evaluation results as to efficiency of the use of innovative potential. However, it should not be assumed that the maximum possible ratios are the limit ones, they will grow as the market relations improve, same as the optimal level of innovative potential of enterprises, that will constantly change and depend on external and internal factors.

108-115

Authors: Chernova N. L., Guryanova L. S.

Due to the global trend of growth of fixed-term markets, derivatives are increasingly being used not only for risk insurance, but also in arbitration strategies of trade. The specificity of these types of strategies is that they are market-neutral, their result does not depend on the overall direction of market movement. The research is aimed at developing a complex of models for evaluating and analyzing the space-time structure of the market for metals futures, the application of which allows to obtain a quantitative substantiation for the formation of the sets of financial instruments most appropriate in terms of implementing the arbitration trading strategies. This complex includes four basic models: formation of an information base of research, classification of assets into homogeneous groups, formation of pairs of assets, evaluation of the stability of pairs of assets. The initial basis of the research are statistics reflecting the dynamics of prices for futures contracts traded at the New York Stock Exchange and the London Metal Exchange. The initial dataset contains monthly information on the prices of contracts for the following metals: aluminium, copper, nickel, zinc, lead, stanum, gold, silver, platinum, and palladium.

122-128

Authors: Novik A. Y.

The formation of the shadow wage in Ukraine is a major problem and a threat to economic growth. According to different valuation methods, the shadow economy in Ukraine ranges from 35% to 54% of GDP, and the shadow wage is estimated at 18% of GDP. The general scheme for tax evasion by businesses is to informally pay cash to workers in “envelopes”, which results in a large amount of cash in the economy and, as a consequence, further opportunities for tax evasion. Despite the urgency of the current issue for Ukraine and a large number of works by Ukrainian and foreign scientists dedicated to finding positive and negative features of the existence of shadow wages, there is still a lack of research that determines the formation of shadow wages through the use of economic and mathematical tools. Based on that, a model of shadow wage formation using the system dynamics method was constructed, which takes into account such factors as the amount of cash in the economy and the size of the minimum wage. Based on the modeling results it was found that raising the minimum wage would reduce the share of the shadow component in GDP. Taking that into consideration, conclusions were drawn regarding the first objectives of government policy, which should aim at creating opportunities for economic growth and reducing the amount of cash in the economy in order to lower the size of the shadow sector in Ukrainian economy as a whole.

135-142

Authors: Sakhno T. A.

The article is concerned with studying the peculiarities of formation of the economic potential of united territorial communities. The article is aimed at defining the essence and exploring the components of economic support for the activities of united territorial communities. Approaches to the economic development of territorial unions and their financial support in terms of local economic development are systematized. The main factors of local economic development are defined. The categories that constitute the economic security of territorial unions, the order of formation of local budgets are disclosed. Changes in the Budget Code of Ukraine, which impact the formation of budgets of the united territorial communities, are determined. A comparative analysis is carried out and the dynamics of the growth of revenues of local budgets of the united territorial communities are trcked on the example of Cherkasy region. Among the obvious categories that can influence the processes of formation of the local budget are the peculiarities of administrative-territorial units. The analysis of individual financial indicators of performance of the budgets of the united communities in the context of the regions of Ukraine is carried out. The main advantages of this method are to determine the degree of financial autonomy of associations. Factors of influence on the financial viability of community are defined. It is found out that the economic autonomy of community depends on the financial resources that form the local budget and the factors influencing its build-up. The economic life support for the united territorial communities is the basis of local economic development and a priority for local governments. Strengthening their financial independence affects the socio-economic development of the region and the State as a whole.

149-155

Authors: Mnykh O. B., Savchenko O. K.

The essence and features of the diversification of development as an economic phenomenon and a dynamic process of changes in market competitive conditions are considered. Relevance of the diversification of development of energy enterprises and the prospects for its investment in the new conditions of development of Ukraine’s economy, which became a member of the European Energy Community in 2011, is proved. Both the foreign and domestic practice of implementing the diversification policies in the energy sector are analyzed. Conceptual models of the influence of external and internal factors on the diversification of development of energy enterprises are build and their interaction is proved. The energy intensity of gross domestic product and the rate of its change based on the built trend for 2010-2018 are provided. The features of the diversification of development of Ukrainian energy enterprises in the conditions of changing political environment and formation of competitive market conditions are defined. It is that the new model of the energy market, in which innovation will play an important role, should be reflected in the management of business processes of energy enterprises, rationalization of the structure of their intangible assets and functional reload in line with new challenges to the management in crisis situations. A quantitative characterization of dynamic changes and performance indicators of the integrated energy company DTEK based on the built regression models is carried out. The strict requirements of the external competitive environment, as emphasized in the work, should change the policy of diversification of energy monopolies in the direction of implementing positive structural-functional changes. The problematic issues of the diversification of energy development at the level of macro- and micro-economy and the directions of further scientific and applied research are defined.

164-174

Authors: Seheda S. A.

The article is aimed at a statistical analysis of imports of the consumer goods made from agricultural products. The dynamics of the purchase costs for imports of products are analyzed and its place in the structure of the total costs of imports of the national economy for the period 2001–2019 is determined. It is specified that the purchase costs for the imports of the commodity group VIII «Raw skins, leather» during the study period increased from 66.3 million US Dollars to 258.7 million US Dollars, the commodity group IX «Wood and wood products» – from 73.2 million US Dollars to 280.2 million US Dollars, the commodity group X «Mass of wood or other fibrous pulp materials» – from 538.1 million US Dollars to 918.2 million US Dollars, the commodity group XI «Textile materials and products» – from 646.9 million US Dollars to 2.166,5 million US Dollars, the commodity group XII «Shoes, hats, umbrellas» – from 43.8 million US Dollars to 432.3 million US Dollars. The carried out correlation-regression analysis identified a reverse causality between cattle population and the costs of imports of the commodity groups VIII and XII. A reverse causality is also identified between the planting area of linen flax and and the costs of imports of the commodity group XI. It is determined that the costs for the imports of the commodity groups VIII and XII is elastic relative to the cattle population in Ukraine, and the costs of importing the commodity group XI is not elastic relative to the planting area of linen flax. The need to activate the development of crop and livestock industries in order to reduce the import dependence of Ukraine’s economy is substantiated.

182-188

Authors: Kramchaninova M. D., Panychok M. Y., Bovt Е. A.

The article is aimed at substantiating the possibility and expediency of applying the mechanism of social investment in the materialization of infrastructure projects in the Luhansk region as a factor in the vitalization of activities of the regional construction enterprises in the period of post-crisis transformation. The features of construction industry are considered, its impact on meso-economic transformations is defined with the help of correlation analysis. It is determined that the change in the volume of gross regional product of Luhansk region by 88,76% is caused by the impact of changes in the volume of construction and installation works in the region. The problems of the modern stage of development of Luhansk region as a region of post-crisis transformation are outlined, the main problems and obstacles to the restoration of the socio-economic system of the region, including its construction industry, are specified. In particular, a number of social problems is identified, to which regional construction enterprises need to be involved; the need to restore objects of social and transport infrastructure, to build housing for preferential categories of citizens, displaced persons etc. is specified. It is noted that in the Luhansk region in the post-crisis period there is a very acute problem of scarcity of financial resources because of the negative impact of crisis phenomena on the budgetary potential of the region. The need to introduce a mechanism of social investment in the practice of implementation of socially significant construction projects in the conditions of post-crisis economic recovery of the region is substantiated. An algorithm for making decisions on the implementation of socially significant projects involving construction enterprises in the region is proposed.

196-209

Authors: Shtal T. V., Uvarova A. Y.

The article is aimed at evaluating the organizational and economic provision of the logistic activities in terms of retail and wholesale enterprises in Ukraine presented by a sample population, operating in different business directions, by assessing the components of the organizational and economic provision of the logistic activities. The result of this evaluating is the definition of coefficients, specially: breadth of implementation of logistic functions, quality of the organizational, personnel, material, information-communication, financial provision, and, as result, definition of an integral indicator reflecting the level of provision by these components. To define the breadth of implementation of logistics at the trading enterprises, a survey of employees of the researched enterprises was carried out, which included the question about the implementation of logistic functions for the main types of logistics. Positioning of the surveyed trading enterprises of the sample population is carried out, firstly, by the number of activities and the breadth of implementation of logistic functions; secondly, according to the integral indicators of organizational and economic provision of logistic activities. The existing link between the indicators of organizational and economic provision of logistic activities and the main results of the economic activities of the researched trade enterprises of the sample population is substantiated. Prospects for further research in this direction are to develop ways to improve the organizational and economic provision of logistic activities of trade enterprises.

218-229

Authors: Burennikova N. V., Yarmolenko V. О., Kavetskiy V. V.

The article improves and complements the classification of modern stakeholders with the selection of a group of main internal stakeholders and specifies the definition of the concept of «agreed (strategic) goal» with the selection of locus (tactical) goals of individual groups of stakeholders. It is underlined that the functional activity of the group of main internal stakeholders (workers of industrial enterprises) should be carried out in accordance with the principle of the «golden section», using a concrete example the practical implementation to have this principle illustrated. It is noted that in the enterprise without an effective process of creation of its gross income (newly created value) investments are impossible a priori. It is emphasized that the efficiency of interaction of stakeholders (in particular, with regard to investments) can be measured and evaluated by a system of indicators of the performance constituents based on the Burennikova (Polishchuk) – Yarmolenko models (the process of generating gross income for real industrial enterprises in the Vinnytsya region has been chosen as an example of the research object for verification of the models). It is proved that such a measurement on the principles of trialectics will help to increase the validity of managerial decisions, in this case, decisions related to the industrial enterprises’ investments as systems at micro-level with the allocation of primordial components of such a system. Based on the use of systemic and process approaches, enterprises have been rated, with the identification of enterprises-leaders in terms of investment efficiency and efficiency coefficient of investments in human capital with allocating the appropriate components.

237-243

Authors: Protsenko V. M.

The article is aimed at forming a paradigm of neo-industrialization as an objective basis for the transition of domestic industrial enterprises to an innovative-type economy in modern economic conditions. It is defined that the development of domestic industrial enterprises should provide a balance between goals not only of the economic nature, but also of the social and environmental ones. Implementation of the process of development of domestic industrial enterprises cannot be effective in the short term, it should take into account not only the possible positive result, but also inevitable losses at the current stage of economic development. One of the main vectors of development is the neo-industrialization of the economy as an alternative to the formation of a post-industrial economy, providing for the possibility of domestic industrial enterprises to enter new, progressive levels, defining neo-industrialization as a current trend of the current stage of economic development. The transitional stage from industrialization to neo-industrialization is the process of reindustrialization as an economic policy, which is quite a complicated task. The creation of a new industrial paradigm implies a gradual transition from the raw-materials directedness of economic development to an economy based on the use of high-tech productions of domestic industrial enterprises. It is concluded that the transition to new technological foundations, the entrance of industrial production to new, progressive levels of development define neo-industrialization as a current trend of the current stage of economic development of domestic industrial enterprises.

256-264

Authors: Tsal-Tsalko Y. S., Moroz Y. Y.

One of the conditions for the efficient operation of business is the use in economic activities of various social media services - both in terms of the economic activities types and in the nomenclature of services. To form information resources in the management system, economic entities use different types of social media, such as social networks, multimedia websites, blogs or microblogs, and other means to exchange knowledge. The purpose of using social media is to present the enterprises’ businesses in the market, receive feedback from customers, attract customers, collaborate with partners, hire employees and exchange views on important business issues. The classification features of social media as a type of mass communication are defined in the theoretical studies of many researchers and in the applied statistics on the respective classifiers. Applied statistics uses four classifiers to characterize the sphere of social media. Analysis of the content of the classifiers shows that they are not unified both in terms of the nomenclature of social media services and in possible economic activities in this area. Further development of social media services in Ukraine in the context of the growth of their role in business is impossible without the formation of reliable information about the results of economic management in this sphere in the accountance system, especially with regard to the activity processes as to the Account 23 «Producing». The main instrument for overcoming these problems should be the unification of the content of statistical classifiers on the range of services and the types of social media, as well as the construction on this basis of the information system in accountance.

271-277

Authors: Lupak R. L., Shtets T. F., Pryshlyak O. P.

The article is aimed at scientific substantiation of the institutional aspects of the State regulation of the development of Ukraine’s digital economy, on the basis of which the necessary conditions for the functioning of basic and derivative institutions of digitalization are created, with the full-fledged implementation of their functions and objectives. It is determined that the elemts of the institutional support of the State regulation of development of the digital economy sector in Ukraine are the institutional-legal basis, institutional-organizational platform, institutional-infrastructure provision, institutional-economic bloc and institutional-psychological environment. In order to form a sufficient institutional-legal basis, a number of instruments must be implemented, including the legislative framework for operation of digital economy, and the arrangement of functioning of the main institutions of the digital economy, removing legal restrictions for the development and spread of principles of the digital economy in business and new industries, providing a special legal regime for the economic entities with a high level of informatization and openness to cooperation in the digital economy. Implementation of instruments such as the formation of institutional provision of public policy planning, the development of the sector of digitalization of the economy, the establishment of institutions of coordination of the parties interested in the development of digital economy, the introduction of the institute of monitoring and efficiency of the State policy of development of the digital economy will allow to build a sufficient institutional-organizational platform for digitalization in Ukraine. The development of institutional-infrastructure provision for the digitalization of the national economy will be facilitated by: creation of digital platforms of business, the State and the public, the formation of unified digital cloud platforms, development of the institutional research and development environment in the digital economy, building up the information infrastructure. Within the framework of the institutional-economic bloc of the State regulation in the sphere under consideration, a number of public-private partnership programs should be implemented, the infrastructure to support high-tech start-ups should be developed and investment with a focus on the ICT sector projects, to form the methodical centers of the system of intellectual-personnel provision to meet the needs of the development of digital economy. The formation of a high-quality institutional-psychological environment is necessary to popularize the idea of digitalization of Ukraine’s economy among business and the public. This will be facilitated by a unified digital environment of trust, the development of an intellectual property security and protection infrastructure, and the promotion of benefits and opportunities of the digitalization for the economy and society.

284-290

Authors: Nazarova K. O., Fedorenko O. P.

The article explores specifics of the activities of network retailers (retail trade chains). It is defined what retailers in general and network retailers in particular are. The main stages of modern auditing (during the 20th and early 21st centuries), until the formation of an open-access economy, are covered. The need to improve the quality of financial and non-financial information in accordance with the requirements of consumers is rationalized. It is summarized that the quality and transparency of information, the obtained positive results of an external (so-called independent) audit either directly or indirectly impact the market value of a company, as they increase the level of confidence in the reliability and objectivity of information. The related needs and the socio-economic potential of audit in the context of globalization and European integration are highlighted. The results of a comparative analysis of the main trends in the development of network retailers in Ukraine, obtained as a result of research and evaluation of both the global and the national economic and social professional institutions, are presented. The basic, significant criteria for assessing information for confidence (or distrust) of the outcomes of analysis and auditing are systematized. The contents and features of assessing the quality and transparency of information have been disclosed. The main approaches to auditing the financial statements of a network retailer are substantiated, taking into account the initiative and mandatory audit (according to the requirements of the main relevant legislation regarding audit of financial statements and the auditing activity in Ukraine). It is concluded that in an economy with open access to information in general and audit information in particular, its users (professional and non-professional users of information) put forward a list of conceptual requirements, among which are quality and transparency. It is proved that network retailers, which are among the most investment-attractive for the M&A deals, are interested in obtaining positive audit results, and therefore, accordingly, are either objects of mandatory audit, or initiators of voluntary audit. The announcement of positive audit results of financial statements influences the value of a network retailer.

298-303

Authors: Lytvynchuk A. O., Ivanchenko D. I.

The article is aimed at analyzing the basic factors, accounting of which be necessary for an efficient medium-term forecast of the value-added tax revenues in Ukraine. The study was implemented using the analogy and systematization methods, in-depth statistical analysis of legislative sources. Proven is the assumption that, when analyzing the fiscal efficiency of VAT, it is necessary to take into account that the actual levels of the dynamic tax revenue series change under the influence of various factors, deviating from the main tendency of development. Evaluation of such fluctuations can therefore allow for making adjustments to the built forecasts and respond more quickly to unforeseen situations. An important component of the medium-term forecasting of VAT is the assessment of macro-financial risks and building of a risk-oriented system of the medium-term forecasting of budget revenues. The components of increasing the efficiency of VAT in Ukraine in terms of ensuring the functioning of the tax control system are proposed. Resulting from the carried out research, it is identified that a risk-oriented medium-term VAT forecasting system should be directed towards minimizing the risks of budget revenues, which are based on: taking appropriate steps to implement Income part of the budget by means of the VAT; developing a financial monitoring system and introducing instruments to counter tax evasion; improving the mechanism of the functioning of VAT, etc. Therefore, improving the efficiency of VAT forecasting and planning should be ensured by developing realistic macro-economic forecasts; application of modern computer-based methods of forecasting and planning of VAT and harmonizing the national legislation with the EU regulations.

310-316

Authors: Kostyrko L. A., Solomatina T. V.

The article is aimed at substantiating the conceptual foundations of strategic development of the financial potential of the economic entities in the agrarian sector of the economy. The current status of approaches to strategic management, its general and specific features is analyzed by levels. The relevance of the formation and implementation of the conception of strategic development, adapted to the peculiarities of the agrarian sector of the economy, is substantiated by the following types: program-target, anti-crisis, value-oriented, defining the targets of development. It is proposed to define strategic management as a process of ensuring balance between the strategic objectives of enterprise and its strategic potential by developing and implementing appropriate strategies. The conceptual foundations of strategic development of the financial potential of agrarian sector of the economy are based on the theory of dynamic competences of enterprise, the basic categories of which are: new knowledge, strategic thinking, strategic vision, strategic logic, strategic decisions. It is proved that within the framework of the proposed conception, the strategy for the development of the economic entities in the agrarian sector of the economy should be elaborated taking into account the influence of the external environment: foreign economic, technical-economic, socio-cultural, political-legal, environmental-demographic. The main types of strategies in the strategic development are: maintaining stability, growth, reduction (quantitative strategies), improvements (qualitative strategies), structural changes (structural strategies).

324-330

Authors: Smyrna O. V., Bereslavets O. A.

The article is aimed at exploring the prospects for development of factoring services in the national financial services market, taking into account the specific conditions of the Ukrainian economy and the formation of measures for the successful development of factoring service. Factoring is a universal method of refinancing the receivables of the enterprise-supplier. In researching the essence of factoring, it was noted that this financial service has something in common with a bank credit. In the course of a comparative analysis of factoring and bank crediting it was identified that the main advantages of factoring were the lack of collateral and an additional list of services that ensured that the supplier achieves competitive benefits, and a financial institution or a specialized factoring company – an increase in the customer base by acquiring from enterprises-suppliers (sellers) the right to claim the receivables of buyers. An analysis of the factoring services market showed an increase in the popularity of factoring services, which is due to the increase in the contracts of factoring by financial and factoring companies for five years (2014–2018). However, there are still problems that constrain the demand for factoring service from domestic suppliers and slow down the development of factoring companies per se. To overcome these problems, the most important directions are the development of legislation acts that will take into account all the legal aspects of the participants in factoring operation, and the formation of an innovative list of services by factoring companies, which will improve the process of management of the enterprises’ receivables.

337-344

Authors: Chorna M. V., Buhrimenko R. M., Zonwire Austin

The article is aimed at forming a system of strategic maneuvering for the enterprises in retail trade to create a new market space and provide its economic security in the future. Despite the wide range of positions presented in the scientific literature, the main issue on the formation of a comprehensive strategic instrumentarium and a clear methodical approach to its implementation in the activities of retail enterprises remains unresolved. The publication substantiates the feasibility of applying a dual approach to the formation of a strategy to build a non-competitive market space based the on strategies of focus and differentiation. Based on the range of «market lever» values, which reflects the enterprise’s need for market transformation, five main typegroups of strategic positioning of enterprise and the corresponding recommended strategies have been created. Given this positioning, a clear sequence of choosing strategic alternatives is proposed depending on the density of the market environment, and specific strategic actions have been developed for each group. Taking into account the uniqueness and priority of the free market space for competitive enterprises, a system has been developed to assess barriers to entry into the newly created market and provide economic security of the initiating enterprise based on market power indicators.

352-359

Authors: Portna O. V., Dereza B. P.

The problem of occurrence of crisis phenomena is of systemic nature and is characterized by a number of factors and constituents. Systematizing the factors and constituents influencing the development of the national economy and its subjects, as well as the delineating the financial-economic variables used as analytical benchmarks for efficient managerial decisions, constitute the information basis for the application of anti-crisis management measures. The objectives of the article are considering the current financial-economic status of Ukraine’s national economy, macro- and micro-economic factors and the preconditions of crisis phenomena in enterprises; expansion of macro-economic indicators of crisis phenomena in terms of economic entities. The indicators of the volume of investments in both the material and the intangible assets and GDP, the financial results of Ukrainian enterprises, the profitability of enterprises divided into large, medium-sized, small ones are considered. It is argued that the financial-economic factors of the macro- and micro-environments of enterprises have a relationship and interdependence. The classification of external and internal factors of occurrence of crisis in enterprises is generalized. It is proposed to include into the important macro-economic indicators of crisis phenomena of economic entities, in addition to the analyzed, the following: incomes of the population, solvent demand, consumption volumes, costs structure, inflation rate, savings, population size and the level of unemployment. A relevant direction for further research is the analytical definition of the relationship and interdependence between incomes of the population, solvent demand, consumption volumes, costs structure, inflation rate, savings, population size and unemployment – as the important macro-economic indicators of crisis phenomena and prerequisites for the application of crisis management in enterprises.

367-373

Authors: Novikov D. F.

The nature of the influence of both inner-State and world crises on the decline in the quality and competitiveness of machine-building products and, accordingly, on the deterioration of activities of national enterprises is considered. It is shown that in the end this leads to the failure to fulfill the principles of socially responsible marketing and to a deterioration of the promotion of the manufactured products in both the domestic and the foreign markets. In this regard, effective ways of developing machine-building enterprises to bring them out of crisis and successfully promote their products to the markets are substantiated. The distinctive features in the strategies for the long-term development of the domestic machine-building enterprises and large global corporations are analyzed. It is displayed that the modernization of production capacities of machine-building enterprises on the basis of the acquisition of modern equipment and training of staff will allow to strengthen the industrial development of the State in the shortest possible time and thus increase the welfare of Ukrainian people. This can be achieved through the higher quality of the output products and its lower cost and price as result of implementation of the principles of socially responsible marketing of enterprise. For the efficient modernization of enterprise, a unified methodology of its planning and conducting has been developed. The application of this methodology will allow the directors of enterprises, even with minimal knowledge and experience of modernization, to implement it with the maximum possible impact and in sum fulfill the principles of socially responsible marketing, providing profit to their enterprises. Based on the generalization of the results of the carried out studies, a definition of the concept of «socially responsible marketing of domestic machine-building enterprises in the industrial market» is proposed.

383-390

Authors: Shymko O. V.

The article is concerned with solving the theoretical, methodological and applied issues of the use of merchandising in the activities of trading enterprises in the face of increasing competition in the Ukrainian consumer market and the activization of global transformational processes. The economic essence and purpose of merchandising are disclosed, its classification features and types are defined. The motives behind the use of merchandising in the activities of trading enterprises are described. Merchandising as a specific marketing technology is considered in the context of functional zones, which play a specific role in interaction with consumers. The influence of individual elements of the merchandising system on the formation of alleged consumer behavior in the trading hall is characterized. The peculiarities of consumers’ perception of the merchandising space are analyzed. The factors that cause discomfort of perception of goods in the store are allocated. The main tasks of managing the levels and instruments of merchandising, the solution of which will allow a retail company to respond quickly to changes in market conditions and optimally combine the goals and objectives of commercial activity with the consumers’ needs, are defined.