Business Inform

15-20

Authors: Tiutiunnykova S. V., Fridman O. A.

The significance of innovative development for the countries that lag behind developed countries is analyzed. Scholars around the world are actively discussing issues of inclusive economic development. The innovative type of socio-economic development becomes the basis that defines the country’s economic situation and prospects for its development in the future. Nowadays, innovations is an important factor in economic growth. Using the potential of innovation should ensure the development of economy and society. Stimulating innovation activity is one of the main development priorities of the State. Innovation development is of particular relevance for Ukraine, which suffered the greatest losses among post-socialist countries during market transformations. The country’s economy is characterized by the immaturity of market relations, low economic efficiency, lag in technical and technological development, investment and structural incompleteness of the market restructuring of the economy, is dominated by extractive institutions. The main factors that impede Ukraine’s transition to the innovative model of development are identified. The main reasons for the absence of rapid development of innovations in Ukraine include quite a high level of social tensions and low living standards of most of the population, political instability, existence of barriers in both the political and the legal planes. It is emphasized that the country’s transition to an innovative type of development is on the path of inclusive institutional transformation, which will allow to form free access to the country’s resources and the most effective means of their use. The need for transition of Ukrainian economy to a path of growth requires significant changes, creating favorable conditions for civilized promotion of new ideas to the market. Among all economic resources the creative human resources become the most important. The main source of innovation is human.

28-34

Authors: Kuzmin O. Y., Zhyhalo O. Y.

The article is concerned with elaboration and substantiation of the model for development of customs regulation of export-import activities in the conditions of using the innovative capacity of enterprises. The research is based on the study of existing problems in the sphere of customs regulation of export-import activities, which prevent the efficient use of innovative capacities by enterprises in the direction of introduction and commercialization of innovations in foreign markets. According to the obtained results of the study, specific instruments of customs regulation of export-import activities in terms of customs clearance and customs control, which correspond to the European customs practice, are proposed. The relationship of the proposed customs instruments is reflected in the improved model of customs regulation of export-import activities, which represents their incentive, stimulating and activating effect on the processes of implementation and commercialization of innovations in foreign markets, taking into account the level of innovation capacity of enterprise. The resulting model for development of customs regulation of export-import activities of enterprises taking into account the level of innovation capacity is suggested to the attention of representatives of legislative authorities to improve the regulatory framework in direction of simplification of customs procedures aimed at increasing exports of innovative products produced by national enterprises and implementing the provisions of the Export strategy of Ukraine and the Association Agreement between Ukraine and the European Union.

46-56

Authors: Chernenko N. O., Hlushenko Y. I., Korohodova O. O., Moiseienko T. Y.

In the carried out scientific work, the authors consider the issue of influence of characteristic features of the Fourth Industrial Revolution on the human sociodemographic basis. The material reflects the data characterizing the status of demographic characteristics, age composition of the population, quality of life and education, and the level of competitiveness of the working population. The materials of the study allow to determine that in the Fourth Industrial Revolution one of the indicators of international competitiveness is the proportion of high-tech goods in the exports of industrial products of the State. On the basis of above mentioned, the authors defined a list of indicators that reflect the manifestations of modern technological development, focusing on the intensity of developing and implementing innovations, which is the starting point for increasing competitiveness in the international labor market under the current conditions. Thus, the methodology of the article provides for the analysis of such data as the dynamics of proportion of high-tech products, the dynamics of the global index of innovation, as well as «Human capital and research», «Education», of the world’s countries with the largest share of high-tech products in exports. The article material also reflects the results of the study that allow to generate assumptions about the need and expediency of a consistent implementation of the global migration strategy based on the global balance of manpower, which provides for a set of measures to weaken the main causes of migration that are formed by the authors in a proposed list.

63-70

Authors: Volosiuk M. V.

The article is aimed at exploring the features and challenges of the world economy and substantiating the reindustrialization as a prerequisite for Ukraine's economic growth. In the article, the author carries out a retrospective analysis of the formation and implementation of the State industrial policy of Ukraine, which differs through its inconsistency, and at the recent stage also through ineffective measures. At the same time, exploring the main directions of modern policy of the neoindustrial development of the EU countries, one can note the leading role of the countries in interaction with business, science, active communities during the formation and implementation of the industry 4.0, which in the future provides for the creation of completely new business models, goods and services based on the most modern innovative and information technologies that will improve the quality of life. The carried out analysis of the current status of industrial and innovation activity in Ukraine made it possible to determine main barriers on the way of innovative development of national industry, among which: lack of the State support and stimulation for industrial enterprises; small proportion of domestic and foreign investments in the production of innovative industrial products; imperfection of the mechanism for ensuring qualitative changes in the education system. The article provides the author’s own definition of the term of «reindustrialization» taking into account the active participation of the State in this process and the systematic nature of measures, methods and instruments of the State’s new industrial policy. In view of today’s world challenges, when Ukraine faces a difficult task to overcome a huge distance separating it from European countries in industrial development, both scientists and industrialists have an awareness and vision of the process of reindustrialization of the country and the conversion of national industry to a competitive complex in the global industrial markets. Based on a generalization of the opinions of scholars-economists, the article determines the main directions of reindustrialization of Ukraine in conditions of transition to the neoindustrial society.

79-87

Authors: Zalizko V. D., Nowak Dariusz Wojciech, Kukhta P. V., Mykula R. V.

The article systematizes the experience in identifying and assessing the impact of epidemics and viruses on the development of national economies. It is proposed, to strengthen the national economy of Ukraine, to mobilize internal potential of light industry for activating the domestic manufacturers of personal protective equipment. The example of Poland and Ukraine showed a negative impact of COVID-19 on the innovative development of their national economies and outlined the prospects for the development of modern technology telecommuting in the most sectors of the national economy and education. As a result of the coronavirus COVID-19 epidemic, a logistical collapse took place, production processes stopped for an indefinite period, the financial and economic crisis was provoked, and the innovative development of national economies was slowed down. The whole world has to mobilize human and financial resources to counter the spread of this disease. Poland and Ukraine have already taken a number of serious steps to minimize the impact of the coronavirus COVID-19 on both economic and social life. According to the authors of the article, minimization of the impact of COVID-19 on the economy of Poland and Ukraine is possible only by introducing modern technologies of telecommuting in most sectors of the national economy and education. Following the scientific thought and joint research of the Poznan University of Economics and the International Innovation Center in the framework of the formation of the «Central European Network of Continuous and Innovative Economy», the new Prime Minister of Ukraine D. Shmygal approved an enhanced plan to combat the spread of the coronavirus COVID-19 in Ukraine, which provides mobilization of the domestic potential of light industry for the activation of domestic manufacturers of personal protective equipment in the framework of implementing the law on economic competition and the protection of the rights of patients in the retail trade with protective equipment.

96-102

Authors: Tomakh V. V.

In modern conditions, the steady development of any of the national economies is not possible without timely and qualitative introduction of innovation activity. The timely use of innovations is the key to obtaining new and preservation of existing competitive advantages of individual enterprises and the economy in general. The article is aimed at researching the impact of innovation activity on national economies in individual countries. The article examines the influence of indicators of innovation activity on change of gross domestic product (GDP) per capita in Ukraine for the period from 2010 to 2018. With the use of correlation analysis, four indicators were selected from the list of indicators of innovation activity, namely: percentage of innovation-active industrial enterprise to the total number of industrial enterprises; percentage of financing the innovative activities of industrial enterprises to GDP; percentage of industrial enterprises that have introduced innovations (products and/or technological processes), to the total number of industrial enterprises and the percentage of sales of innovative products to the total volume of sales of industrial products (goods, services). With the help of regression analysis, the model of dependency of GDP per capita on the indicators of innovation activity was built, which showed the necessity of control over the targeted use of financing the innovation activity.

111-117

Authors: Geleverya Y. M., Serhiienko Y. I.

The article is aimed at a comprehensive and systematic analyzing the existing theoretical basis for the investment attractiveness of territories and developing practical proposals and recommendations to address the problems of investment attractiveness of Ukraine’s regions in the current conditions. Approaches to defining the economic essence of investment attractiveness are generalized, investment attractiveness is presented as a relative concept, reflecting the opinion of a certain group of investors regarding the proportion of risk level, profitability and value of financial resources in a particular country, region or industry; on the other hand, investment attractiveness is shown as an aggregate of certain objective features, properties, means, opportunities of the economic system, which determines the potential effective consumer demand for investments. Indicators by which it is possible to analyze the level of investment attractiveness are determined. They are combined into three large groups of factors, which on the part of investors are the determining factors for the investment attractiveness of territories. It is defined that investment attractiveness plays an important role in activating investment processes at the regional level in the context of administrative, financial and regulatory decentralization. A high level of investment attractiveness guarantees a stable investment in the country, additional revenues to the State budget, better social environment in the country. It is scientifically based that attracting investment in the region’s economy is a key task in today’s economic environment. It can be rationally solved by increasing the investment attractiveness of Ukraine’s regions for potential investors, where the main task should be to optimize the regulatory, financial and administrative conditions for investment, which determine the choice of the investor regarding a specific object of investment, be it a separate project, an enterprise as a whole, a corporation, a city, a region or a country.

127-132

Authors: Kramarenko I. S., Kozachenko L. A.

The article is aimed at analyzing the positions of Ukraine’s investment potential in the world rankings and making recommendations to raise them. The analysis of the investment climate in Ukraine from the point of view of domestic investors and international rating organizations is carried out, allowing to organize the available potential and define the barriers that form its current status. It is noted that, despite the improvement of the investment climate over the past two years according to certain positions, the existing barriers, especially of economic, political and security nature, significantly hinder the development of investment activities. The existent opportunities are leveled by the current financial, political, ecological and man-made risks, and the instability of legislation and the unpredictable macroeconomic situation are holding back the start of the large-scale and long-term investment projects. Ukraine has significant resource potential and an extensive infrastructure network, and the factors of investment attractiveness from the point of view of foreign investors remain significant. However, the current tendencies characterized by inefficient and irresponsible use of natural resources have led to their gradual reduction together with environmental pollution, and the effective short-term investment policy does not contribute to an efficient reproduction of basic means of production and infrastructure.

143-149

Authors: Kramchaninova M. D., Vakhlakova V. V., Panychok M. Y.

The article is aimed at practical applying the instrumentarium of economic, mathematical and statistical methods to improve the efficiency of managerial decisions in the context of the development of region. The article examines the components of regional development, defines indicators that characterize the status of the specified components, and provides their dynamics for the period of 2006-2018. Using the instrumentarium of correlation analysis, the density of the link between these indicators and the gross regional product (GDP) as an indicator of regional development is defined. The most influencing factors of regional development are discovered, providing an opportunity to substantiate the directions of dynamic positive mesoeconomic transformations. In particular, it is noted that the change in the real GDP index is most affected by the level of employment of the population, the share of innovative technologies introduced in the region during the relevant period, as well as the volume of consumption of fixed capital. In other words, the most influencing and controlled factors in regional development determine the amount of labor and capital resources involved, as well as the level of technological order. Using the regression analysis, a model of regional development has been built, with the independent variables being the previously identified factors that cause the most significant influence. It is proved that this model meets the criterion of adequacy, and therefore can be used in the subsequent forecast calculations to substantiate the decisions regarding the economic development of Luhansk region.

163-171

Authors: Kudin T. V., Saiapin S. P.

The main global tendencies in both the traditional and the renewable energy are displayed. By means of the generally accepted standard indicators, the article compares the cost of generating a unit of energy using both the traditional and the renewable sources. Monetary estimates of the environmental impact of the traditional energy are presented. A brief analysis of the status of traditional energy in Ukraine and the prospects for the development of the separated renewable energy sectors are provided. In this, the authors show that as a result of the current status of the traditional energy industry (nuclear, thermal, hydropower) the path of development of renewable energy is the only practical way out of the most difficult situation. The life of nuclear power, taking into account the extension, ends by 2030. Thermal energy is characterized by an extremely low efficiency factor and the highest concentration of hazardous substances in the atmosphere among European countries. A comparison of the prospects for solar and bioenergy has shown that the positive impact of bioenergy on the environment should be taken into account when estimating the efficiency of generation. Should this be not taken into account, it turns out that bioenergy has significantly worse economic efficiency indicators relative to solar and wind power generation. Based on the construction of the optimization model of the solar power generation station (SPGS), it is proved that the efficiency of investments in solar energy is improving along with the growth of installed power. Estimates of the payback period at different amounts of annual electricity consumption by the household, depending on the amount of installed capacity, have been made. Estimates of the discount profit of the project for a guaranteed life of operation have been made. It is shown that investing in SPGSs can be used by the population as an efficient financial instrument.

180-190

Authors: Zalutska K. Y.

The difficulty of effectively managing diversified enterprises, especially at the corporate level, is the difficulty of establishing the best connections between its business units. Establishing optimal interconnections involves weeding out excess information and numerical repetition in a largely descriptive nature by combining only certain key elements of a particular phenomenon, depending on the conditions in which it is located, which reduces the time it is taken and improves their quality. Accordingly, the article is aimed at allocating the basic business processes of enterprise with the identification of key elements in their composition, which will ensure the identification of optimal points of contact to establish effective interconnections between business processes of different business units of diversified enterprises at a particular time. Using the historical method, the approaches of scholars to the allocation of business processes in the enterprise on certain classification characteristics are researched, features of each type of business process and the possibility of their use to establish optimal connections between the structural units of the diversified enterprise are determined. To simplify the research, the types of business processes considered using the element-by-element theoretical method are combined into certain groups in accordance with the directions of their formation. The basic business processes in the activities of the structural business units of the diversified enterprise are allocated using the abstraction, analysis, analogy and generalization methods. In the limits of the allocated business processes are defined, uniform for all enterprises, the components and key elements of interconnections of business processes of different types. The possibility of use of the proposed key elements of business processes as optimal points of contact in establishing effective interconnections between the various units of the diversified enterprise business by more detailed focusing on the features necessary at a certain time (duration, monetary means, resource spends, etc.) is proved.

200-205

Authors: Tretiak V. Р., Harmash Y. O.

Procurement logistics is considered as one of the main directions of activity that influences the efficiency of enterprise. The works of economists on the topic of the research were analyzed, and different interpretations of the concept of «procurement logistics» were considered. It is specified that there is no single correct definition, but all scholars tend to think that procurement logistics is a set of activities aimed at providing the enterprise with material resources, choosing sources of supply, controlling the fulfillment of orders. Each stage of the enterprise’s procurement logistics is characterized. Particular attention is paid to the stage of selecting sources of supply, as it is up to the supplier to fulfill the objectives of both procurement logistics and the enterprise in general. A detailed research on this process allows to more effectively identifying the ways to improve logistics activities at the enterprise. The process of developing a logistics strategy is considered, when managers try to reach a compromise between the three main objectives of procurement logistics: reducing capital, reducing costs and improving the level of service. It is proposed to include some aspects of procurement logistics management inherent in one of the most prominent transnational corporations (TNCs) Nestl? in the activities by other enterprises to improve their efficiency. The TNC Nestl? has developed a Responsible Sourcing Standard that reflects the current tendencies in procurement logistics to find a reliable supplier and defines the criteria that the supplier must meet. The vectors of procurement management at the enterprise have been identified, which are universal and will allow enterprises to improve the efficiency of logistics management, as well as to minimize costs.

214-220

Authors: Bilokinna I. D.

The article is aimed at researching the institutional provision of the development of organic agricultural production in Ukraine. The article displays the relevance of organic production for today. The modern scientists, who have explored some aspects of the institutional development of organic production in our country, are mentioned. Explanations for the categories of «organic production» and «organic agriculture» are provided. The main laws governing organic production in our country are analyzed in dynamics. In addition, a number of other regulations that contribute to the development of organic agricultural production, as well as drafts of orders and regulations, are considered. Explanations for categories such as «certification authority» and «foreign certification authority» are provided. The list of international accredited organic certification bodies, which fulfill certification services in our country, is presented. The main indicators of organic production of Ukraine and other countries, as well as the volume of organic fruit and vegetable products grown in 2018, are analyzed. The place of Ukraine among other countries-leaders of the world according to the area of organic land is specified. Also presented are the indicators of different countries, such as the percentage of organic land in the total amount of agricultural land, the number of organic producers, and the amount of retail sales in 2018. The volumes of organic growing of fruit and vegetable products in the regions of Ukraine are provided. It is also displayed how much organic cultivation of berry crops takes up in the general volumes. It is specified which regions are the leaders in organic growing of fruit and vegetable products, and in which regions organic berry crops are not grown. Measures to improve the institutional provision of the development of organic agricultural production are proposed.

229-250

Authors: Poliakova O. Y., Khaustova V. Y., Levanda O. M.

The research is aimed at defining the problems and tendencies in the development of rural territories in Ukraine. According to the goal, the article researches: structure of Ukraine’s lands and the population structure by settlement type, density of population of rural territories of Ukraine, reasons for the decline of the rural population in Ukraine, consumption of basic foodstuffs and household spending in rural areas, age composition of the population, processes of rural migration, employment and income of the population in rural areas, infrastructure problems in the development of rural territories in Ukraine, educational space in rural areas, number and condition of medical institutions in rural areas, infrastructure of cultural institutions and living conditions in rural areas. The carried out analysis allowed to substantiate that in Ukraine there is a feedback cycle on the type of «vicious circle» in which the poor condition of social infrastructure increases the migration mood of the rural population, which leaves rural settlements because of the small number of schools, preschools and health facilities that are enlarged or closed, which worsens the level of social services and narrows the social infrastructure. Together, the economic and infrastructure reasons for the increase in migration, the decline of the rural population and their ageing are leading to a worsening of the demographic situation in the country. Thus, in developing efficient economic approaches to stimulating the development of rural territories, the country’s rural settlements should be seen as a holistic system. There will be no better way to achieve balanced development, overcome inter-industry, intra- and interregional imbalances, integrate rural and urban subsystems of the society on equal terms.

259-265

Authors: Vonberg T. V.

The article is aimed at researching remote employment in the new conditions of the State’s functioning. The author substantiates the relevance of transition to remote employment by the companies’ employees. Remote employment is defined as the only acceptable form of further functioning and possible development of companies under the quarantine conditions. Analyzing and generalizing scientific studies of scholars, the interdisciplinary relationships in researching remote employment are proved. The article allocates the main advantages for the employer when switching to remote employment. The main obstacles and risks on the way to a rapid transition to remote form in Ukraine are researched. Taking into account the importance of an urgent and mass transition to remote employment to be fulfilled in the State under quarantine conditions, a program to introduce this form of employment into the activities of companies is proposed. This program provides for the gradual implementation of the main stages of the introduction of remote employment, which are characterized by the author. Among the many steps towards the introduction of remote employment, the most important are the development and approval by the management of the program of actions, as well as bringing it to attention of the the company’s employees. At these stages occur most errors, which subsequently destroy the entire program. The program should be absolutely clear to all members of the team – from the average employee to the management of the company. The huge role of the HR manager in this process, in particular, with the support of the socio-psychological climate, establishing communications in working groups and the company in the conditions of remote employment, is emphasized. The importance of taking into account the risks associated with the company’s security is defined. Examples of a set of instruments for remote employment are provided in terms of the functional responsibilities of the employee, in particular, the Zoom software is defined to be the best in organizing video conferencing. Prospect for further research in this direction is development of an instrumentarium for improving the efficiency of remote employment and building up of a strong regulatory framework.

273-279

Authors: Dybach I. L.

The article considers the need to transform Ukrainian higher education institutions in the context of development of the knowledge economy and formation of the market for educational services. It is noted that, given the problems in higher education, namely the lack of financing, the decrease in demand for domestic educational services, etc., it is advisable for the management of higher education institutions to restructure the management structure towards a capability to adequately respond to changes in market conditions and provide for financial independence. It is defined that in such circumstances it is advisable for higher education institutions to consider their work as an entrepreneurial activity, which should be carried out on the basis of corporate governance. The article is aimed at developing a scientific-methodical approach to defining the essence of the term of «corporate-entrepreneurial university» in the context of improving its management in the face of increased competition in the educational services market. It is proposed to consider two capacities of this term: entrepreneurial and corporate. The article analyzes the approaches to identifying the essence of the term of «entrepreneurial university» and ascertains the ambiguity of scientists as to its interpretation. It is determined that the vast majority of authors identify the business activities of universities with innovation activities. It is found out that the term of «academic entrepreneurship» is widely used in the scientific plane, the meaning of which is similar to the meaning of «entrepreneurial university». It is proposed to consider academic entrepreneurship as a set of actions that is focused on profit, while the entrepreneurial university be defined as an educational organization that operates on the basis of academic entrepreneurship, the efficiency of which is ensured by the interaction of such elements as education, science, business and innovation. It is defined that a corporate-entrepreneurial university is a higher education institution that carries out a comprehensive activity to form and develop the educational and entrepreneurial potential of society on the basis of corporate management in order to generate profit and gain social effect along with ensuring the academic freedom of teachers and students.

289-295

Authors: Tarasova K. I.

Information system is an aggregate of processes, hardware, trained staff, software, infrastructure and standards designed to create, modify, store, manage and disseminate information to offer new business strategies and new products. It promotes efficient work and communication to make the best decisions in an organization. Information systems change the goals, actions, products of enterprises and organizations to help them gain an advantage in a competitive environment. Systems that have these results can even change the structure of a business. The evolution of information technology is closely linked to the development of new strategic models of corporate business. The enterprises’ drive to improve the efficiency of information systems stimulates the emergence of better hardware and software, which in turn encourages users to modernize and automatize their systems. This cyclical process takes place with the aim of responding more appropriately to changes in market conditions and to maximize profits at minimal risk. In today’s environment, economic entities are inextricably linked to information systems, as the success of enterprise and its competitiveness depend to a large extent on the use of modern technologies. The carried out research examines the evolution of information systems in general and the specifics of their use for the needs of companies. Seven stages of the development of information systems have been allocated, a brief description of each of these stages is presented: the main activities, and the purpose of the use of information systems have been defined; the concept of use of information and the type of information system for each stage of its development have been determined. The stages of development of automated information systems at the national enterprises are considered. The current status of information systems at the economic entities of Ukraine is characterized.

303-311

Authors: Ivanchenko N. O., Podskrebko O. S., Sidletska A. O.

The article is aimed at analyzing the development of startup market in Ukraine, reviewing the successful Ukrainian startup companies. After analyzing a sufficient number of scientific works and materials, the authors summarized and synthesized the main reasons for the failure and success of startups. The article specifies that in the era of breakthrough technologies and accelerating the digitalization of various business processes, in order to maintain their place in the market and be competitive, it is very important to use modern technologies and business solutions, where startups become the main source of fresh ideas and non-standard solutions for big business. Based on the analysis of the main ranking websites for startup projects, a conclusion has been made about the rapid development of the startup market in Ukraine with active support on the part of the State. The article analyzes the main platforms and resources for promoting startups in the international market and a variety of studies on the selection of criteria for the success of both the national startup projects and the foreign ones. As a result of the study, despite the fact that each startup project is unique and associated with a combination of many details, the generalized factors of success and failure of startups are synthesized. The authors define a set of the internal and external factors that cause direct influence on the success of projects, analysis and accounting of which are a priority before entering the startup into the market. Prospects for further research in this direction will be developing and introducing the mechanisms to improve the efficiency of startup companies. Particular attention should be paid to the protection of intellectual property rights. An important task is to analyze the international experience, on the basis of which it is necessary to create the most comfortable environment for the introduction of innovative technologies, which will become a powerful driver for the successful development of national enterprises and the economy as a whole.

319-327

Authors: Pylypenko A. A., Khalleefah Ahmed Mohammed Saed

The current business conditions have significantly changed the requirements for the information and accounting-analytical provision of the management mechanism of enterprises and their integrated associations. Management of enterprises requires a significant expansion of the list of accounting items submitted in conjunction with the enterprise’s business processes, increasing the reliability of credentials, increasing the speed of management report generation, reflection in the reports of the non-financial indicators and key elements of the business model chosen by the enterprise. In most cases, such requirements can be implemented if the approach to managerial accounting is changed. The authors’ hypothesis involves the use of the concept of corporate architecture as the basis of the managerial accounting process. The article is aimed at developing the theoretical-methodical basis of the organization of accounting-analytical process of enterprises and their integrated associations on the basis of applying the achievements of the methodology of modeling corporate architecture to accounting. Implementation of the goal set is based on the projecting methodology. As result of implementation of the accounting management project, the authors envisage an increase of the capabilities of accounting analytics, the deployment of a data-based business analysis system, the outlining of the information provision of strategic management, and the expansion of the predictive accounting function. The TOGAF methodology and Archimate modeling language are used to form a corporate architecture model. The models that have been developed show the structure of the accounting function and its relationship to other elements of the corporate architecture. The existence of such functional models made it possible to identify the list of users of the accounting information and to develop a concept of managerial accounting development.

334-339

Authors: Voznyak H. V.

The spread of financial fraud processes over the past decade has taken on a special significance in all sectors of the economy, as it has become one of the major threats to our country’s economic security. Therefore, finding methods to identify, counter and neutralize threats to the national security of the State caused by the consequences of financial fraud is a contemporary direction of scientific research. In this sense, the budget sphere is a picky object of attention of fraudsters, thereby actualizing the mentioned problem. The research is aimed at substantiating the theoretical bases of financial fraud in the budget sphere, analyzing and systematizing its types, determining the directions of counteracting. The essence of the concept of «financial fraud» is clarified, the author’s own vision of the concept of «financial fraud in the budget sphere» is substantiated, which is disclosed from the position of comprehensive approach, with integration of the views of scientists as much as possible. It is proposed to interpret this concept as violations of legislation and budgetary discipline in order to obtain own benefit or benefit for third parties, which led to the loss / or lack of funds in the budget and theft of public and communal property. Methods of financial fraud in the budget sphere and features of manifestation are defined. Its elements are presented, whereto is suggested to include: implementation purpose, origin area, and breadth of coverage. A typology of financial fraud in the budget sphere is proposed. It is noted that the most common types of financial fraud in the budget sphere are fraud in order to seize budget funds and violation of budget legislation without signs of theft. These include misuse of budget funds, illegal expenditures, as well as fraud with tender purchases and the seizure of budget funds.

350-356

Authors: Zaslavska O. I.

The article researches digital innovations in the banking sector, and discloses the prospects for the development of virtual banks, taking into account the experience of the financial services market in foreign countries. It is clarified that the modern banking sector offers many innovative concepts that combine the interaction of the virtual and physical worlds, with the purpose of building up their own business model and provide more efficient customer service. Key aspects of the operation of such models as: mobile banking, multifunctional banking center with a full range of services, virtual banking center, self-service accounting branch, financial interactive video kiosk, personalized banking and «digital traces» management are disclosed. It is defined that the future of banking belongs to the institutions located in cyberspace. Such institutions identify themselves as retail banks operating exclusively on a digital platform and are designed to compete with traditional financial institutions. It is determined that over the past ten years there has been a revival in the sphere of virtual banking in European countries. Based on the world experience, key provisions for the digital bank's launch are presented, which include: architecture and operating model, products and services, distribution channels, system operation, cybersecurity and finance. The advantages of virtual banking for the founders and clients of such institutions are defined. These are in particular, the following: convenient way of banking operations, reliability, operational efficiency, lack of need to organize a network of branches along with staff of employees, etc. Challenges and shortcomings of virtual banking are defined as follows: difficulties in registering a new customer and navigating the site; trust in the virtual world of financial services; lack of an adequate level of financial literacy; risk factors associated with spyware and viruses; problem with regard to evaluation of business, etc. In sum, it is proven that virtual banking has significant potential for development, as the active use of cyberspace is increasingly becoming characteristic of both clients and owners of financial institutions.

364-370

Authors: Kovalchuk N. О., Fedoruk Y. I.

The article is aimed at researching the factors influencing the capital structure of domestic enterprises in the current economic environment. The existing scientific approaches to the definition of factors that determine the structure of capital are generalized, and on this basis it is clarified which of them now take place in the formation of sources of financing in domestic enterprises, including through analysis of statistical information on the capital structure of enterprises of Ukraine. Specific factors influencing the capital structure of domestic enterprises in terms of external and domestic, manufacturing, economic and organizational activities are provided. Given the changing economic conditions, domestic enterprises need to pay special attention to internal factors, as the influence on external factors and the legislative restrictions on the formation of financial resources of Ukrainian enterprises on the part of enterprises is limited. The main factors that can be influenced by an enterprise, and which significantly affect the ratio between different sources of financial resources, are: dividend policy, the mentality of owners and managers, use of production capacities, level of forecasting and the capability to respond quickly to external threats and challenges. Domestic enterprises should form a capital structure depending on the type of economic activity, organizational-legal form, and changing conditions of Ukrainian economy, constantly monitoring changes in these factors and making adjustments in the implementation of activities. It is worth looking for a compromise between profitability and riskiness, choosing the optimal ratio between own and borrowed capital, promptly responding to the existing challenges.

377-384

Authors: Pelekhatyy A. O.

The article is aimed at developing civil society by involving the inhabitants of territories in the budget process. The main problems that create the preconditions for alienating citizens from involvement in budget policy and slowing down the development of territories are defined. A conceptual model of participation budgeting for the development of territories based on the established principles, methods, instruments and objectives of application is proposed. It is specified that the main objective of the proposed model of participation budgeting is to involve citizens in budget processes and to form a common budget policy for the development of territories by the authorities and residents of these territories. The basic principles of the participation budgeting of the development of territories in the conditions of fiscal decentralization are determined as follows: publicity; compulsoriness; transparency; openness of procedures; inclusion; public participation; self-reliance; unity; complexness; economical effectiveness; targeted orientedness; innovativeness; manageability. It is proved that the process of forming local budgets on a participation basis involves: setting priorities for local expenditures by the residents of territories; choosing representatives of local communities to participate in the budget process; holding local and regional meetings to discuss and vote for priority expenses, which ultimately leads to the implementation of ideas that influence the quality of public services. The main objectives of the introduction of participation budgeting of development of territories are specified as follows: redistribution of financial resources; formation of a new type of relationship between administrative bodies and citizens; building up social connections and changing social interests; formation of an economic culture in the issues of formation and execution of budget; encouraging public activism. A mechanism for participation budgeting of the development of territories at the local and regional levels is developed. The sources of filling participation budgets and the conditions for selecting the projects that will be implemented at the expense of local budgets are identified. The basic conditions of participation budgeting at the local and regional levels are formed: efficient allocation of expenditures; the process of formation of budgets must be ongoing; existence of a development budget; ensuring the direct participation of community members in the formation of budget, direct voting for the implementation of a particular expenditure item. The positive effects of introduction of participation budget at the community and regional levels are generalized. Prospects for further research in this direction are the developments of regulatory legislation at the national level for the leveled conditions of participation budgeting in all the territories of the State.

392-397

Authors: Bazaliieva L. V.

The article is aimed at defining and systematizing the factors in the formation of trust relationships in the network of stakeholders, which will allow to identify effective and efficient ways and instruments to develop trust. The work substantiates the presentation of the key characteristics of the network of stakeholders – the center of the network, its density and structure – in the form of factors in the formation of trust of the first order. In order to improve the efficiency of programs for the formation of trust in the network of stakeholders, the factors in the formation of trust of the first order are specified. Thus, it is proposed to allocate factors of the second order, such as the level of interest of network participants in the relationship, the form of interest of the network participants, the distribution of the forces of stakeholders in the network according to the Model of Mitchell, the ability of the company to appeal to the network participants, the intensity of interactions between the network participants. An approach to determining the level of interest of network members in relationships is proposed, based on an assessment of counter-flows of interest between the network center company and each stakeholder. The proposed approach enables the network centre company to better distribute its efforts and resources directed towards establishing trust relationships. The dominant form of stakeholder interest is allocated, such as engagement in ensuring the long-term and successful operation of the center company or implementing a project to solve the problem of the center of the network. The ratio of two forms of interest to stakeholders – concern and interest – allows to consider it as a complex phenomenon.

404-410

Authors: Galushka K. О., Davydov D. S.

The article considers topical issues of specifics of both marketing and advertising campaigns. The research is aimed at generalizing the methodical and practical aspects of the process of managing marketing instruments in the enterprise. Based on the information obtained from scientific sources, the efficiency of each instrument is evaluated using the method of observation and abstraction, as well as the method of comparative analysis. Different levels of strategy and basic instruments at each level are considered. In addition, key axioms that companies may face in the market when promoting goods and working with consumers have been identified. The need for a model of brand growth for the potential of the enterprise, which is conditioned by the importance of brands as intangible assets for effective competition and as a tool to create an efficient marketing campaign, is substantiated. The analysis also looked at the customer’s path from the search for a product to the acquisition of loyalty, as well as the most efficient modern marketing instruments at every stage. According to the results of analysis of the advertising market in Ukraine with the help of the All-Ukrainian Advertising Coalition, the media advertising market tends to increase volume, especially in the context of e-commerce and television. The main indicators of the efficiency of marketing campaigns to identify the subsequent direction for improving their activities are analyzed. The digital instruments have a number of capabilities and threats to the company when implementing any marketing campaign in the digital space that must be considered to minimize possible failures when launching a campaign.

418-424

Authors: Honcharov A. B., Нoncharova S. Y., Ahramakova N. V.

The article is aimed at studying the peculiarities of forming the strategy of a modern enterprise operating in the socio-cultural sphere, taking into account the influence of the main factors of both the external and the internal environment. The influence of the main factors of both the external and the internal environment (part of which is very specific for this sphere and consists mainly of the intangible nature of the product, which is produced, the peculiarities of its perception and evaluation process, the motives of consumption, the basic methods of advertising and promotion, the traditional pricing practices, the considerable potential for generating income from advertising activities and others) on the formation of the strategy of modern enterprises operating in the socio-cultural sphere of Ukraine is researched. In view of these characteristics, an approach to the choice and substantiation of the general strategy, which be most in line with the conditions of economic activity, has to ensure the viability, strengthening of market positions and sustainable development of enterprise in the current conditions of economic crisis and aggravation of competition. Directions and detailed ways of implementation of the main specific competitive strategies, which should ensure the implementation of the general strategy are considered: strategies to create a quality unique product (service) taking into account its specificity, product promotion strategy, financial strategy, strategy for developing the enterprise’s human resources and increasing the efficiency of its use.

433-439

Authors: Zaporozhets H. V.

The existing theoretical and methodological provisions of the organization’s investment resources management have been generalized, and priority sources of their attraction together with directions of increasing efficiency of their use have been defined. Investment activity has been determined to be one of the most important aspects of any commercial organization’s operation. It allows economic entities to get out of crisis situations, to ensure a certain level of competitiveness and liquidity. When carrying out investment activities, the organization is constantly faced with a necessity of choice of specific investment resources, investment decisions, the level of investment risk, etc. That is, decisions made in the sphere of investment projects are quite tough, because an expert is always responsible for the future return on the funds invested in a project. The emphasis is put on the fact that the management of investment resources of an organization according to management theory is based on the development of a certain strategy for the formation of investment resources (financial, real, innovative investments). Thus, the general need for investment resources that would be necessary for implementation of the investment strategy of organization is determined, and the possibility of forming investment resources at the expense of all possible sources: own, attracted and borrowed is calculated. It is noted that one important aspect of the organization’s investment resources management is uncertainty of the investment project indicators, which is due to certain reasons: uncertainty because of the lack of information on the full list of factors influencing the level of project indicators; uncertainty due to the lack of complete information on the projections of indicators that characterize the impact on the project’s indicators level; uncertainty due to the lack of information on quantitative dependencies between the influence factors and the indicators of investment project. It is concluded that the management of the organization’s investment resources is a complex and labor-consuming process, the implementation of which depends on certain factors, both of internal and external nature. The efficiency and effectiveness of the management of investment resources of the organization depends, on the one hand, on the existence of a scientifically sound theoretic and methodological base, on the other hand – on the ability of management of the economic entity to professionally use the knowledge in practice.

446-452

Authors: Mushnykova S. A.

The article is aimed at the theoretical substantiation and practical application of the transdisciplinary paradigm and innovative transformations of the economic environment as a fundamental basis for managing the security of development of metallurgical enterprises. The publication notes that metallurgical enterprises also experience the conditions of crisis, unpredictability of socio-economic development, volatility of situation at all levels of the national economy. The author has determined that, in order to overcome the current situation, for the secured development of metallurgical enterprises, innovative transformations must take place, first of all in the system of management of an individual enterprise, taking into account the existing corporate culture and using elements of the innovative culture of communication, which is possible only by combining scientific research of various orientations, competencies, qualifications and practical experience of persons on whom the adoption of a particular management decision depends. According to the results of the research, it is determined that the transdisciplinary paradigm is inherently a scientific and philosophical platform for the development and justification of the hypothesis of the research, creating a basis for the formation of communicative management practices of interaction of the attracted social agents representing different socio-economic interests and values. Therefore, the transdisciplinary paradigm of management of the security of development of a metallurgical enterprise, as the integration and differentiation of the sciences of different fields of knowledge for the study of the same object, can be considered as a triangle, the tops of which are: philosophy, humanities and social sciences (sociology, political science, psychology, etc.) and the system of management of the security of development of enterprise in the appropriate period of time, – thus forming a new interdisciplinary instrumentarium for managing the security of development of metallurgical enterprise.

464-471

Authors: Rudenko I. V., Kulynych T. V., Nepran A. V.

The article is aimed at developing approaches to the formation of image in case of trade enterprises. A theoretical analysis of the definitions available in the scientific literature is carried out to understand and closer define the essence of the category of «image» in the context of current tendencies. The opinions of scholars on the interpretation of the concept of «enterprise image» are analyzed, on the basis of which it is concluded that the universal formulation of this category appears to be a complex one. It is justified that the image is a socio-psychological category, which is based on a person’s special sensitivity to the social environment. The authors’ own definition of this concept is proposed, taking into account variability of the current economic situation in Ukraine. The features of the formation of image of trading enterprise are defined, and the feasibility of developing a complex of measures as to forming, supporting and improving the image are substantiated. It is emphasized that the image of trading enterprise is highly sensitive to changes in the business environment and needs to be adjusted to meet the needs of each individual participant. In the article are schematically depicted participants of external and internal business environments, influencing on the image of trading enterprise. An approach to image formation is proposed taking into account the targeted impact of management subjects on business environment participants (stakeholders). Focus is put on the rational (logical) and emotional (psychological) methods of influence of management subjects on the perception of information by different social groups. A mechanism for shaping the image of trade enterprises is developed, which will allow to interact with all participants of the business environment as effectively as possible. Four main sets of measures to improve the company’s image are presented: production and economic, marketing, clientele, personnel.

478-485

Authors: Feshchur R. V., Shyshkovskyi S. V., Skvortsov D. I., Manila A. A.

The conception of the project-oriented formation of the enterprise development program is developed in the article. The definitions of key concepts of enterprise development are considered. The graphical model of visualization of potential of the enterprise is developed. The dual character of the enterprise in the development process, which manifests itself in its understanding as an object of innovative transformations under the influence of internal and external factors, and a subject whose activity is aimed at achieving economic, social, environmental and image results, is determined. The purposes and results of development of the enterprise are determined. The results of activity of economic entities of Ukraine for 2014-2018 are presented. It has been determined that the emergence of economic outcomes is indirectly influenced by social, environmental and image outcomes, at least through preferences from consumer and staff loyalty and partnerships in the business environment. It has been defined that forming an enterprise development program in terms of a multitude of the optimization criteria that reflect the development goal, availability of project alternatives and limited resources is a complex and multifaceted task. The multicriteria optimization model of forming an enterprise development program is constructed, which belongs to a class of linear variables models with discrete variables, which can be solved by standard software tools. The model’s information support consists of the normative data characterizing of the projects and expert evaluations of the results of their implementation. It is determined that solving the problem of polycriteria in the project-oriented formation of the enterprise development program can be reached by finding a Pareto-effective solution by the methods of compromise programming (uniform optimization, concessions, penalty assessments, etc.).

498-504

Authors: Shpak N. O., Budynskyi R. Z.

The economic substantiation for managing the business projects of enterprises is considered. In particular, it is concluded about allocation of the main cost groups associated with such management, specially: costs of developing a business plan for a project (or a similar document); cost of finding the executors of a business project; costs of preparing documentation related to the management of a business project; costs of implementing a business project; costs of supporting the enterprise based on the results of the corresponding business project; costs of training staff as a result of a business project. Other signs of such a grouping are considered, in particular, by the elements of costs (material costs, labor costs, deductions for social events, depreciation and other operating costs) or by the items of costing (raw materials, semi-finished products, components, fuel and energy for technological purposes, basic and additional wages, etc.). The costs of managing a business project according to the specifics of their implementation has also been structured. The authors also allocated the costs directly related to the management of the business project; costs related to implementing additional business project agreements; costs not directly related to the management of a business project, but incurred by the enterprise to ensure the efficiency of business projecting. In implementing the economic substantiation for managing business projects, the importance of grouping the relevant management costs where it is possible to attribute them to a separate business project is specified (the costs that are directly related to a separate business project (direct costs) and the costs that do not directly relate to a separate business project (indirect costs)). Thus, having information on different types of structuring of the business project management costs, economic entities can diagnose them, form estimates and budgets, expand the lists of places of origin of costs, calculate the costs of alternative business projects, etc.