Business Inform

6-12

Authors: Ponomarenko T. V.

The article defines the concept of «strategy» as: plan, competitive actions, behavior model, market position, conception and perspective. The strategy is a comprehensive, unified and integrated plan, a set of actions and measures to solve a specific problem situation, achieving targeted goals that are developed in advance for a certain period of time. Current trends in the implementation of strategies include ensuring the quality of products, focusing on individual groups of consumers and improving products and services. The strategies of leadership, cost minimization and differentiation are typically focused on gaining a competitive advantage within a wide range of industry sector segments, while the focusing strategy involves gaining cost advantages or differentiation in narrow segments of the industry sector. Modern trends in the implementation of strategies of leadership, cost minimization and differentiation focus are identified on the example of enterprises of the EU countries. Three of the most popular company strategies are: 1) high quality focus – 52.3% of the EU companies use this strategy; 2) focus on satisfying established groups of consumers – 50.3%, which reflects the world-view or ways of thinking of entrepreneurs in these markets and confirms the theoretical idea that the strategy is a conception that has a manifestation in the world-view of stakeholders and business owners; 3) focus on improving the existing products and services, which are used by an average of 41.5% of companies. In addition, 37.7% of the EU firms use the focus on appealing to new consumer groups, and 36.7% of organizations use a specific solution for a client. It is proved that most companies in the EU use two or more strategies that are built on innovation activities (products, services, business processes) at the same time.

22-27

Authors: Kovalchuk N. О., Sopivnyk L. I.

The article is aimed at studying the current state of venture investment in Ukraine and determining further prospects for its development. Carrying out the analysis and summarizing the scientific selections of numerous scholars, the essence and specifics of venture capital were considered, the factors that have the greatest impact on the development of the venture industry were provided. In the course of the study, the analysis of venture investment indicators in Ukraine was carried out: the number of joint investment institutions; the number of asset management companies; the total value of net assets of joint investment institutions; the number of the most profitable venture funds in Ukraine and their profitability indicators. A number of issues have been identified that need to be addressed first, as they impede the intensification of venture investment in Ukraine. The main focus is on the peculiarities of financing innovations in Ukraine. The directions of venture investment in the Ukrainian economy are distinguished and comparisons with certain features of venture investment in European countries is made. According to the finding, it is proved that venture financing in Ukraine is prone to the implementation of medium- and short-term investment projects. It is found that most venture funds are unable to perform their economic functions, as they are mostly used to optimize asset management of large industrial companies and medium-sized enterprises. On the basis of the identified problems, the directions of activation of venture funds are proposed, the main one being active policy on the part of the State, directed towards strengthening the position of venture funds.

34-40

Authors: Karpenko O. O., Gorban A. V., Kovbatyuk M. V., Shevchuk V. O., Kovbatiuk G. O.

The main purpose of this research work is to substantiate the need for international cooperation of Ukrainian higher education institutions as an important factor in reforming and modernizing the national education system, its successful integration into the global educational space and increasing competitiveness in the market of educational services. The basic method in the study is system approach. Methods of scientific abstraction, analysis and synthesis are used to form a theoretical synthesis and conclusions, graphic-analytical method is used for a clear illustration of the economic phenomena and processes under study. Internationalization of higher education is one of the main directions of the new conception of higher education reform in Ukraine. New demands and needs in the market of educational services, growing competition between higher education institutions, implementation of innovations in the educational process require changes in approaches to reform in the field of higher education in order to improve quality. International cooperation in the State University of Infrastructure and Technologies is considered as a process of formation and development of equal and mutually beneficial partnerships between educational institutions of different countries. International cooperation will give the State University of Infrastructure and Technologies the opportunity to participate in international projects in an equal and full manner, increase the number of foreign students, invite foreign lecturers to become a fully recognized university in the world, which provides high quality education.

52-58

Authors: Kotsyuba O. S.

The subject of the article is the methodical apparatus for quantitative assessment of the degree of economic risk for the situation of decision-making, under load of the nonstochastic (nonprobabilistic) uncertainty. The research implemented the task of further development of fuzzy-multiple risk measurement instrumentarium for the case of simultaneous nonstochastic uncertainty of assessments of the criterial economic indicator (criterion) and its norm. In accordance with the set goal and methodical approach to the interpretation of fuzzy assessments on the basis of an analogy between random and fuzzy values in the work a number of practically significant situations determined by the nature of the nonstochastic assessments of the criterial economic indicator and its norm were consistently considered, for each of these mathematical ratios were found to calculate the degree of risk. The proposed calculation formulas were tested on conventional examples. The results of the tests showed the capability of the developed computing apparatus. The research also focuses on the situation of risk measurement, when the assessment of the criterial economic indicator is modeled as a random variable, while its normative level is described by an assessment, either interval or fuzzy. As a perspective direction of further scientific research on the issues raised in the article, the formation of some generalized methodology for quantitative assessment of the degree of economic risk, which would allow to measure the risk for various situations of information uncertainty from a single theoretical position, is defined.

65-72

Authors: Khanin I. H., Bilozubenko V. S., Sopin Y. O.

The new type of economic management, which begins to be built nowadays and is based on the widespread use of information and communication technologies (ICT), has been named the «digital economy». The use of ICT and digital systems carries great advantages, comprehensively changes the national economies. The transition to digital economy is objective and irrevocable, so one needs to clearly understand this new essence, its features and development tendencies. The publication is aimed at outlining a modern understanding of the essence, determining the features, characteristics and peculiarities of digital economy, as well as defining tendencies in its development in the context of globalization of the world economy. The article explains the importance of ICT in economics, the creation of digital systems, the Internet of people and things, cyberphysical systems, various equipment and devices. The main results of widespread use of ICT, especially the development of the Internet, are formulated. Explanations of digitalization and digital transformation are provided. In general, the consequences of the use of ICT at the intra-organization, meso-economic and macro-economic levels are specified. The essence features of digital economy and the general bases of its emergence with an emphasis on the role of the Internet are distinguished. In this context, a number of characteristics of digital economy are defined. Four major approaches to determining the essence of digital economy (political-economic, technological, resource-factor, entrepreneurial) are substantiated. To disclose the structure of digital economy, its main types are distinguished, including the auxiliary ones (designing the websites, Internet marketing, analytics, etc.). The importance of payment transactions is emphasized. The use of ICT to ensure the activities of industrial enterprises and the creation of «smart» things, cities, infrastructure, etc. are taken into account. It is proposed to consider digital economy as a modernization and a new paradigm for the development of socio-economic systems. In this context, structural, organizational, managerial, institutional-legal, social, spatial features of such an economy are distinguished. The need to study the global aspects of the development of digital economy is emphasized, within terms of which the relevant tendencies are determined, taking into account the development of e-business, industries and market segments, the transformation of digital economy into a source of economic growth and development.

80-88

Authors: Hilorme T. V.

The publication is aimed at determining the project parameters of the latest rocket and space technics. It is stated that when developing projects, it is necessary to take into account all phases of the life cycle of rocket and space technics in accordance with European standards as follows: phase 0 «Mission analysis/needs definition», phase A «Feasibility», phase B «Preliminary design», phase C «Detailed design», phase D «Qualification & Production», phase E «Operation», phase F «Utilization». On the basis of fractal analysis, a graphic interpretation of the comparison of SWOT-analysis components for the development of the rocket and space industry is constructed. The advantage of the model is the compactness of development due to the use of one platform and operational efficiency of use due to the absence of the need to upload data to a specialized system. Practical recommendations on the development of a national strategy for the innovative development of the rocket and space industry of Ukraine in the conditions of sustainable space activities are provided. It is identified that the weakness and a threat to the activities of the aerospace industry is insufficient financing for implemented projects and inefficient distribution of funds among its components: science – production. It is proposed to use Blockchain technology as an effective instrument for the cyber security of space objects. Possibilities of Agyle management are considered as a means for overcoming barriers to the introduction of innovative solutions in space activities. The mathematical model of project selection when maximizing the economic effect is presented, which takes into account both the economic components (the costs of «life» of the project, the budget for implementation, the cost of deferred decisions), as well as the social and ecological effects. The system of criteria for selecting and limiting a rocket and space technics project is substantiated. Prospect for further research is the substantiation of the project parameters of the latest rocket and space technics from the positions of other components of general efficiency: technical, social and ecological.

96-107

Authors: Kyzym M. O., Kotliarov Y. I., Khaustova V. Y.

The presented research is aimed at defining the features of organizing the centralized heat provision of large localities in Ukraine and countries of the world. Within the terms of the set aim, the article considers the characteristics of the main heat supply organizations of large cities of Ukraine, the major regional and municipal programs that are effective in them, and the characteristic features of heat supply; the main problems of centralized heat supply in these localities. It is noted that Ukraine displays one of the world’s highest saturation of cities with heat networks: the total length of heat pipelines is approximately 47 thousand km in terms of two-pipe calculation. The share of centralized heating in the total structure of heat supply in Ukraine comprises about 42%. The centralized heat supply system is provided for approximately 60% of the total area, hot water supply – more than 40% of the total area of the country’s housing stock. On the basis of consideration of heat supply systems in several large cities of Ukraine, the general features of their district heating systems are identified. The experience of building a heat supply system in separated countries of the world (Russia, China, Denmark, Finland, USA, Canada, etc.) is analyzed. The scale of district heating systems in the researched world countries is considered. Modern trends in the development of district heating systems in Europe are studied and differences between Ukrainian district heating systems, including in terms of powers of local authorities in the field of heat supply, are determined. It is specified that local authorities in Ukraine are practically deprived of powers to regulate the development of CHP plants and capacities operating on renewable energy sources, which in developed countries is a priority for the development of centralized heat supply.

116-123

Authors: Yevtushenko V. A., Rakhman M. S., Diachenko Y. I.

Retail trade in Ukraine demonstrates a sufficient number of market and infrastructure entities, contributes to the development of economic sectors and the seamless promotion of goods to the consumer. The article is aimed at studying the state of domestic retail trade in the context of the main indicators; problem detection; new realities and major tendencies in the future. The essence of retail trade is considered, its features and functions are substantiated; the purpose and importance among the leading sectors of the economy are identified. Leading retail chains are allocated. A characterization of the factors related to assortment, territorial location, cost control and marketing policy of leading retail operators are provided. As a result of the carried out structural and dynamic analysis of retail trade volumes, the following advantages are identified: by types of trade – non-food products; by form of ownership – legal entities; by organizational and legal forms – LLC; in the context of regions leader is the city of Kyiv. The infrastructure and volumes of retail trade over the Internet are considered. The influence of some factors on the purchasing behavior of the consumer is determined. Some forecast models of volumes of food and non-food products for 2021–2022 and development of goods turnover over the Internet for 2021 are presented. As a result of SWOT analysis, on the example of «Silpo» network, strengths and weaknesses, opportunities and threats of a retail traded chain are identified. The main problems of retail trade in Ukraine are specified, including: lack of investment due to unstable political situation and use of innovative technologies; low purchasing demand of the population; rising prices for raw materials and energy, rent, logistics, etc. Recommendations to resolve these issues are provided.

131-138

Authors: Vinnikova V. V., Vinnikova V. A.

The carried out analysis of scientific papers showed that the issue of regional peculiarities of the development of collective accommodation facilities (CAF) in the crisis conditions caused by the COVID-19 pandemic did not find proper coverage, which justified to the purpose and objectives of this study. The article examines the development of collective accommodation facilities in the Kharkiv region by carrying out a comparison of the main indicators of the related activities in the periods before and after the introduction of quarantine restrictions caused by COVID-19. According to the results of the study, an increase in the number of accommodation facilities in the post-quarantine period both in the Kharkiv region and in Ukraine as a whole is determined. At the same time, comparing the growth rates of the CAF allows to conclude that the enterprises of the Kharkiv region are more resilient than the average in Ukraine. In the period before the quarantine, the growth rate of the CAF of the Kharkiv region corresponds to or exceeds similar indicators in Ukraine. Thus, during 2018-2019 in Ukraine the number of CAF increased by 2.2%, in Kharkiv region - by 9.0%; including hotels and similar accommodation facilities in Ukraine – by 0.4%, in the Kharkiv region – remained unchanged; other accommodation facilities in Ukraine – by 4.0%, in the Kharkiv region – by 20.7%. The introduction of quarantine measures in the face of COVID-19 adversely affected tourist flows, which was reflected in the indicators of the development of the CAF of the Kharkiv region and Ukraine as a whole. In general, as a result of the analysis of the information provided on the sites of the researched accommodation facilities, a conclusion was made about the low level of informing guests about the measures implemented in the framework of preventing the spread of COVID-19.

144-151

Authors: Ilchenko N. B., Kochubei D. V.

The article examines the essence, structure and formation of management of the reverse flows processes in supply chains; the main directions and content of return flows in logistic systems and supply chains are determined; the concept and content of reverse logistics and logistics of return flows are defined. The essence of the process of reverse flows management in accordance with the reference model of business processes in the SCOR supply chains is researched. The application of a logistic approach to management of reverse flows has determined a separate sphere of logistics – reverse logistics. Enterprises in the supply chain should offer consumers an effective return management service, which allows minimizing the potential deterioration of relations with consumers to manage the process of returning to the supplier in case of expired goods or excess inventories. To carry out this process, it is necessary to properly study communication channels and business processes in order to create an effective feedback system in after-sales service to minimize the cost of return. A significant number of enterprises consider reverse logistics processes a negative phenomenon and do not focus on managing them, although enterprises that implement an effective reverse logistics process can get a number of significant advantages. They include: reducing costs, increasing the speed of customer service, maintaining the customer loyalty. The developed model of business processes allows to structure the tasks of reverse flows management and get an effective tool for the implementation of the SCOR-model of supply chains management.

158-163

Authors: Herasymenko T. V.

The article is aimed at identifying and analyzing transaction costs when making management decisions at the level of an economic entity. In the course of the research, the following methods were used: grouping – in determining the main forms of transaction costs based on existing classifications; generalization – when systematizing information on the identification of approaches to the assessment and measurement of transaction costs; structural and logical – to determine the place of transaction costs in the structure of the enterprise’s costs; analysis and synthesis – to substantiate the recommendations for displaying information on the level of transaction costs at the enterprise in financial statements. The main forms of transaction costs on the basis of existing classifications are researched. Information on identification of approaches to valuation and measurement of transaction costs is systematized. The place of transaction costs in the structure of the enterprise’s expenses is determined. Recommendations on displaying information on transaction costs at the enterprise in the financial statements on the basis of their occurrence in a certain sphere of activity of the market entity (transaction costs of operational, financial, investment activities) are substantiated, which represents the scientific novelty of the research. It is concluded that the institutional approach, in particular application of the theory of transaction costs before their valuation and preparation of financial statements, allows not only identifying possible solutions to existing problems in accounting theory and practice, but also seting fundamentally new tasks that require non-standard solutions. The practical significance of the obtained research results is to determine the impact of transaction costs on the efficiency of the functioning of market entities and substantiate recommendations for displaying information about their level at the enterprise in financial statements.

170-176

Authors: Bezruchuk S. L.

The quality of information covers a number of its characteristics, and as a philosophical category quality is characterized by relativity, independence from the subject, as the most objective concept. In accountance, this concept is multifaceted and multivariate, which makes it difficult to outline and study the definition. Quality was considered as an internal feature of the subject, its property, a totality of features, etc. The article examined the philosophical interpretation of the concept of «quality» and its evolution in the accounting system, as a result of which it is found that the term «quality» has objective (measurable and calculated) and subjective (those that are evaluated only by each individually) characteristics. The author’s own vision of the philosophical category of «quality» in the accounting system is proposed. The main emphasis is on the objective and neutral nature of the category of «quality», which corresponds to its philosophical basis and allows to distinguish it from the concepts of «level of quality», «usability» and «suitability». There is a transition from the scheme «users – requirements – capabilities of the accounting system – quality» to the scheme «users – requirements – signs – capabilities of the accounting system – quality», and important factors of quality justification are standardization and audit system. Accordingly, in accountance, to ensure such objectivity, it is necessary to create requirements, since the quality, in addition to measurable (objective) features, has purely subjective features (each person evaluates accounting information differently). In order to ensure high-quality reporting, compliance with standards should be mandatory subject to clear regulation on the part of the State, responsible, not a formal approach to obtaining the relevant audit opinion. Not only the theoretical sphere, but also the practice of reporting by enterprises in terms of the characteristics of the category of «quality of reporting» requires further research.

183-188

Authors: Melnyk N. H., Semaniuk V. Z.

A significant component of sustainable development, proclaimed by the UNO, is the requirement to significantly reduce the formation of waste by preventing, reducing, recycling and reusing them. In the context of the formation of sustainable models of consumption and production, it is the circular economy that can provide a restorative, closed nature and is intended to replace the linear economic model. Circular economy has a restorative, closed nature, is characterized by minimization of consumption of primary raw materials and volumes of recycled resources, reduction of waste and waste costs. However, the transition to a circular economy requires a completely new approach not only to the production process, but also to the management system, a significant component of which is accountance. The purpose of the research is to outline the features and tendencies of accounting evolvement in the conditions of sustainable development and circular economy. The article specifies that the speed of changes in practical activities and scientific research in the context of sustainable development causes a change in requirements and functional approaches to accountance. The theoretical and practical approaches considered allow to determine those features of sustainable development and circular economy that influence accountance. The most difficult challenge in the development of accounting in the conditions of sustainable development and circular economy is the combination of economic, ecological and social results, as well as formed, established principles of accountance and financial reporting, also ensuring their reliability. Research of theoretical conceptions of accounting for sustainable development on the basis of positive and normative accountance theories can contribute to standardization and unification of financial and non-financial reporting on the company’s performance in the context of sustainable development and circular economy, limiting the possibility of incomplete, incorrect, inaccurate or unnecessary information.

196-201

Authors: Perminov S. B.

The article examines the key problems of the development of the trust management market at the present stage of the formation of the global market. All problems are identified within the framework of the main trends in the development of the financial market, which is associated with the complication of its subject structure, changes in the structure of instruments. In addition, the market is actively expanding due to the introduction of intermediaries and social media as specific market players. The active digitalization of economic activity leads to the formation of new industries, including the need to form a cyber security system. New rules for the functioning of the trust management market require the development of appropriate regulatory support for the functioning of the market and the formation of global value chains. A problematic issue is also the awareness of new clients with trust management services, the rules of the market functioning. It is worth considering the processes of global offshorization, which determines the key directions of normative regulation both in the global market and its regional adaptation. In this regard, the paper discusses the features of the development of regulatory support for the functioning of the financial market in general, as well as the market of trust operations in particular in modern conditions, with examples of the implementation of this conception in certain highly developed countries (United States of America, Great Britain, etc.) taking into account the requirements of international organizations to ensure and regulate these markets in order to counter money laundering, tax evasion, and concealment of the tax base. In addition, the article proposes some options for minimizing the negative consequences of key problems in the development of the trust management market or minimizing the associated risks.

207-215

Authors: Dema D. I., Sus L. V., Sus Y. Y.

The research is aimed at theoretical and practical aspects of financial planning of enterprises in conditions of volatility and instability of the external environment. Based on the generalization of approaches to the essence and the meaning of financial planning, its semantic characteristics are determined in terms of methodology in both broad and narrow context. The process of evolution of financial planning is considered from the point of view of formation of systems of financial economic activity management of enterprises, three stages of its genesis with specification of advantages and disadvantages are distinguished. The principles, types and methods of planning are systematized. The stages of financial planning at enterprises are distinguished and their role in balancing financial stability in the process of formation, accumulation, distribution and use of financial resources is determined. Based on the stages of financial planning, three main subsystems of activity planning (strategic forecasting, ongoing financial planning and operational planning of financial activities) are described. On the basis of the analysis of existing problems in financial management in case of instability and recurrence of crisis phenomena, a mechanism for organizing financial planning at enterprises is proposed. The need to improve the effective generation of cash flows in the long term is distinguished, taking into account strategic and long-term financial plans based on the scenario financial planning method.

224-235

Authors: Zubkova A. B., Maihurova D. S.

The article is aimed at analyzing the conception of business model within the terms of enterprise strategic management and substantiating its influence on Ukrainian high-tech enterprises. Taking into account the fact that the conception of business model has long been explored by foreign scholars, it becomes necessary to determine how it is used in the strategic management of Ukrainian high-tech companies. Through the carried out content analysis of strategic management definitions provided by different authors, the main elements are allocated, which most scientists focus on, namely: process of strategy development, goal setting, analysis of the internal and external environment, and creation of value. Creation of value is a particularly important parameter of the high technology market, since the life cycle of such goods is short. Based on these data, it was decided to analyze 50 innovative companies of Ukraine and their business models according to the metrics of «Business Model Canvas», developed by the Swiss business theorist Alexander Osterwalder. The results of a frequency analysis helped to determine that Ukrainian companies have four weak structural elements of business models: clients, relationships with clients, key partners, and cost structure. It has been found that companies use their business models only as a marketing communications tool. But, unfortunately, without understanding the cost structure, clientele and partners for whom value is created, the strategic development of company is impossible.

243-249

Authors: Osypenko S. M., Romanchyk T. V., Tesnikov O. M., Kuruch I. O.

The relevance of the problem of managing the competitiveness of service sector enterprises in modern conditions of economic management is determined. In a contentual form, the task of managing the competitiveness of enterprises is formulated and a scheme of its implementation is proposed, which includes the following stages: formation of factors that determine competitiveness; substantiation of the competitiveness indicator and its model; computing the competitiveness indicator and its subsequent factor analysis; determination of reserves for growth of the competitiveness index; formation of the task of increasing competitiveness; formation of a list of measures for implementing the task; selection of measures for the implementation; implementation of measures, control and regulation. The procedure for computing the integral indicator of competitiveness, which includes groups of indicators that determine the state of the enterprise and the competitiveness of its products, as well as indicators within each group, is considered. The methodology of economic analysis of the level of competitiveness of the enterprise is proposed, which allows to conduct an overall assessment of its competitive position compared to competitors; determine the influence of factors on the difference in their position from the position of competitors; calculate the reserves of growth of the competitiveness indicator and develop measures for their implementation. In accordance with the competitive strategy of the enterprise and the task of increasing the competitiveness indicator on the basis of the use of the provisions of the theory of economic efficiency, a list of measures is substantiated, the practical implementation of which will allow to perform the task with a minimum amount of resources. Operational control over the implementation of measures and their impact on the competitiveness indicator is envisaged in order to make corrective managerial decisions in a timely manner.

259-265

Authors: Shpak N. O., Hrabovych I. V.

Modern trends in the development of enterprises are formed under the influence of such factors as activation of globalization processes, growth of consumer requirements, unpredictability of the external environment, transformation of the world market conditions under the influence of the COVID-19 pandemic, strengthening of digitalization and intellectualization processes, development of artificial intelligence, etc. In the context of the formation of Industry 4.0, in order to maintain or strengthen competitive advantages, any enterprise must function taking into account the modern achievements of science and technology, especially in terms of the implementation of digitalization processes in its activities. When implementing digitalization processes, each element of the enterprise’s marketing complex undergoes transformations taking into account the development of digital marketing instruments and technologies. The article researches and analyzes the peculiarities of digitalization of the four main elements of the enterprise marketing complex (product policy, pricing policy, product distribution policy, and promotion policy). The following major trends that influence the formation of the product policy of companies in the context of the implementation of digitalization processes are highlighted and considered: the growing popularity of the digital currency and blockchain technology; digital transformation of banking operations; expansion of the information technology market; development of the network-based production. The advantages of automation and digitalization of the pricing process to accelerate product sales are displayed. It is emphasized that the spread of the COVID-19 pandemic has caused the greatest impetus to intensify the implementation of digitalization processes when choosing a product distribution system by the enterprise. In the communication policy, enterprises prefer to organize online marketing activities. The results of the research presented in the article can be useful for enterprises when choosing the most appropriate digital marketing instruments and technologies for each of the four components of the marketing complex, as well as improve future marketing campaigns in accordance with trends in the development of digitalization processes.