Role of Business Administration in the Process of Formation of Post-Industrial Economy

Abstract

Introduction The topical tendency of development of modern global economy is its postindustrialization, i.e., change of the type of socio-economic system and search for new vectors of its growth. As of now, post-industrial economy is the highest stage of economic development and a key landmark of development of the countries of the world. The most important advantages of development of economy according to postindustrial type is its high sustainability to influence of negative external factors, high living standards, bringing down to the minimum or full refusal from harmful industrial production, domination of market mechanism over state regulation, etc. Apart from the countries' striving to getting these profits, transition of economic systems to post-industrial path of development is one of the stages of their evolution. That's why conservation of industrial economic system contradicts the idea of economic growth and development, as well as interests of the global society. Differences in the types of economic systems of the countries of the world cause multiple socio-political contradictions and are one of the reasons for differentiation of the level of development of various members of the global economic system. Inequality of transition to the post-industrial path of development of global economies slows down the rates of global economic development. This article supposes that one of the most important reasons for socio-economic systems' being at different stages of the process of post-industrialization is differences in the level of development of entrepreneurship in approaches to business administration. The purpose of the article is to determine the role of business administration in the process of formation of post-industrial economy. Materials and methods Importance of formation of post-industrial economy is emphasized in most of conceptual and empirical works of modern scholars who analyze preconditions and consequences of post-industrialization of the global economic system. These are works by (Vogt, 2016), (Stepanov et al., 2015), (Rumyantsev, 2015), (Huber and Stephens, 2015), (Vaslavskaya and Yangirova, 2015), (Volodina, 2015), (Kravets et al., 2014), etc. Business administration is a process of management of modern enterprise within execution of four main functions of management: planning, organization, management, and control (Saratun, 2016). Provision of effectiveness of business administration requires complex approach to management (Fujii and Managi, 2016) and the use of modern managerial methods and mechanisms (Dutta et al., 2016). Specifics of business administration at modern stage of development of economic systems is studied in multiple works of modern authors, in which principles and priorities of business administration are determined, and criteria of evaluation of effectiveness of enterprise management are distinguished. These are works by (Formentini and Taticchi, 2016), (Park et al., 2016), (Tomek et al., 2016), (Bezrukova et al., 2013), (Dzhandzhugazova et al.. 2015), etc. Analysis of recent publications on the topic of the research showed that the study of theoretical and practical aspects of management of entrepreneurial structures is paid a lot of attention from modern scientists; analysis of specifics of formation and development of post-industrial economy is also viewed. At the same time, interconnection between the above processes is beyond the performed research, which causes existence of a serious gap in modern economic science and practice. This work is devoted to filling this gap and determining the role of business administration in the process of formation of post-industrial economy. The methodology of this research is based on statistical analysis of time rows. According to the author of this paper, the method of correlation and regression analysis could help to determine the role of entrepreneurship in the process of formation of post-industrial economy. …