Business Functions Research Articles

Redesigning employee engagement practices in the digital era

In the ongoing climate of digital transformation, the interrelationship between employee and employer has been redefined. The technological era has caused a drastic change in business functioning and traditional hierarchies. A paradigm shift is being witnessed in production as well as service delivery models. The companies are now altering their whole corporate model from conventional to hybrid. Thus, employee engagement practices do not remain untouched by this ongoing change. Web-based technologies are transforming HR services; hence, HR professionals today need not only skills and knowledge but also their implementation via digital mode. As digitalization spreads to every corner of business functioning, its effective and significant presence in HR strategies for engaging and retaining employees will prove to be more fruitful than the traditional approach. Digitalized engagement models provide benefits not only to the organization but also to the employees, as they provide more transparency and flexibility in practice and ultimately lead the business to achieve optimum efficiency.This paper is based on secondary data, for which extensive literature reviews and information from HR magazines and news articles were gathered. An attempt has been made by the researcher to find out employee engagement practices and the role of digital innovation in employee engagement with their redesigning in changing scenarios. The paper also suggests how to engage employees more effectively by using digital technologies and to achieve greater efficiency and sustainability.

ОСОБЛИВОСТІ ЗАБЕЗПЕЧЕННЯ БЕЗПЕКИ ДІЯЛЬНОСТІ ПІДПРИЄМСТВА В УМОВАХ ЦИФРОВОЇ ТРАНСФОРМАЦІЇ ЕКОНОМІКИ

This article is devoted to the features of ensuring the security of business entities in the conditions of digitalization of the economy and digital transformation of society. The authors note that digital transformation has significantly affected all spheres of enterprise activity, and the impact is not always positive, especially considering the human factor. When forming a system for ensuring the security of an enterprises activities, as a rule, it is worth paying attention to the state of the information used, to the degree of protection of individual data. In this aspect, digitalization, on the one hand, allows the use of more modern and effective methods of information protection, and on the other hand, a significant number of opportunities for hackers to use confidential company data appear. Modern business conditions remind us every time of the need to ensure a high level of enterprise security and minimize the risks of the negative impact of the external environment on business functioning. Threats of losses or bankruptcy may be the result of a negative impact. The construction of an effective enterprise security protection system is the main criterion for neutralization or minimization of threats that may have a negative impact on production and economic, transport, sales, and information activities. A fairly competent solution to the mentioned problem is to speed up the digitization of most processes at the enterprise, taking into account the requirements of the market, society, the state of the countrys economy, the political situation, etc. It is the processes of digital transformation that affect all types of economic activity of the enterprise, which in turn is reflected in the level of security and protection system. It is important to take into account the fact that the level of business security affects the competitiveness of the enterprise and its image. The authors analyzed the domestic and foreign experience of business protection and ensuring its security in the conditions of the digital transformation of the economy, and also outlined separate rules, the observance of which will reduce the risks of the influence of negative factors.

The role and value of data in advancing environmental sustainability with empirical evidence from tissue and textile businesses

As the need for genuine sustainability transformation crystallises, data’s digitalisation-enabled use creates opportunities to refine how businesses and societies operate. With the power of diverse data sources, available in increasing quantity, actors can set feasible environmental targets, identify improvement opportunities, implement actions, and follow development. The dissertation explores data’s role and value for corporate environmental sustainability and specifically for circular economy from four perspectives: the customer-perceived value of data for environmental sustainability (considered via studying a tissue-paper supplier), how data’ use influences sustainability pathways toward circular economy (specifically of textiles), paradoxical tensions that arise in utilising data to drive circular economy (in the textiles context), and how the literature characterises data’s role and value in circular business models. A company case study, disaggregative Delphi and literature review were used as research methods. The work pinpointed availability of detailed, reliable product-specific data as crucial for supporting environmental sustainability and transparency of products’ value chains. Also, capturing data’s value here demands collaboration with customers and suppliers but also wider business networks, central to which are conditions for solid data-sharing. Consumers demand environmental sustainability, circularity, and accrue benefit from data-related decisions on individual purchases. The strategic and operative decisions/activities across business functions and throughout value chains further guide environmentally better-informed decisions. While use of data can be crucial to developing sustainable business models (for circularity specifically), the role varies less between models than with the activity supported. The results clearly implies that neither environment-related data nor initiatives utilising data automatically benefit the environment; the interactions are more complex. Still, the data are a critical business enabler, and anticipating future data needs should dovetail with systematically developing environment-related data-management capabilities. These findings provide rich insight as to the elements, mechanisms, and critical issues of data driving environmental sustainability and circular economy.

The impacts of poor data quality on business performance

In the digital era, data plays a pivotal role in the operational transactions of businesses across the globe. Along with human and capital resources, data is considered an invaluable asset for enterprises driving the success of business performance. Nevertheless, poor-quality data as inputs will negatively impact on the quality of the output and outcomes are the quality of decisions at individual, organizational, and corporate levels. Poor data quality will be a barrier for an enterprise to build an effective strategy and efficient management across its business function. Since the 1990s, businesses, and academic institutions in advanced economies such as the USA, France, Switzerland, Australia, and South Korea have focused on developing, implementing, and using data quality management systems to improve business operations. However, Vietnam has given less attention to data quality issues. This paper aims to summarize the introduction of data quality, the problems with data quality, and the impacts of poor data quality on operations at functional and strategic levels using the qualitative approach – literature synthesis and secondary data analysis. Thus, we propose some policy prescriptions for Vietnam’s industries and institutions alike.

Data Management and Decision-Making Process Using Machine Learning Approach for Enterprises

Currently, Machine Learning (ML) seems very attractive since it may speed up business functions in enterprises, lower costs for supplying goods and services, and manage information to promote enterprise efficiency. Essential technological domains nowadays are the explosive period of growth in enterprise solutions, which are progressively used in almost all business platforms. The ML sessions will receive a thorough summary, and the relevant organizations will be shown procedures for relevant business processes. The data management unit is already been striving to solve related issues in ML applications for more than a generation, creating numerous customized analytical techniques. The approach described in the study uses a weighted directed graph displayed in an industrial environment to identify the core part of the neural network structure and then trains them using the relevant data source. The article proposed ML-assisted Enterprise Data Management (ML-EDM) for identifying the trade-off between ML growth in the financial sector and its consequences in precision and interpretability. According to the experimental findings, the ratio of AI for decision-making is 84.25%, the Speed and Agility proportion is 92.70%, the result of Earlier Prediction Management is 93.80%, the Infrastructure Development is 85.46%, with Data Efficiency is 84.5% and Performance efficiency of the system is 90.14%.

Збереження стійкості та визначення можливостей розвитку суб’єктів малого та середнього бізнесу

The article discusses the issue of functioning of small and medium-sized businesses in Ukraine, their development in the economic, political and social spheres under conditions of high uncertainty. The current state of small and medium-sized businesses is analyzed and the possibilities of ensuring their sustainability and further development are defined. The approaches to the definition of entities of micro-entrepreneurship, small, medium, and large entrepreneurship in accordance with the legislation of Ukraine are systematized. The main parameters of micro-enterprises, small, medium, and large enterprises are specified. The main problems of the development of small business in Ukraine before the war are highlighted, in particular, the lack of an effective mechanism of the State support and protection of small and medium-sized businesses, the prevalence of corruption, the shadowing of business, raiding, and the imperfection of the tax system, underdevelopment of risk insurance in business, the need to increase the social responsibility of business, etc. The balance of economic entities and the dynamics of the number of operating economic entities (large, medium, small) in Ukraine in 2010–2021 are analyzed. It is concluded that during this period there was a general reduction in the number of enterprises, while the proportion of SMEs in the total number of economic entities remains at the level of 99.97%. It is noted that in the context of the full-scale russian invasion, SMEs continue to be a significant factor in the stability of the State. SMEs are payers of the taxes that Ukraine uses for various security and defense needs. A study of the dynamics of the number of employed employees in the field of small and medium-sized enterprises over the past ten years is carried out, allowing to note an increase in their number to 81.5% of the total number of employees in 2021. The problems and challenges of the development of entrepreneurial activity in modern Ukraine are identified, such as destruction, relocation, search and resumption of work in a new regional niche of the market segment, as well as the search for opportunities to pay taxes, pay wages, engage in volunteering, and receive income for their own development. The authors propose a number of directions of the State policy to maintain the stability of small and medium-sized businesses: creating a favorable environment for the development of small and medium-sized enterprises; expanding access to finance for small and medium-sized enterprises; simplification of tax administration for small and medium-sized enterprises; increasing the competitiveness and innovation potential of small and medium-sized enterprises.

Regional aspects of the functioning and development of small business in Russia

Regional aspects of the functioning and development of small business in Russia

НАПРЯМИ ДЕРЖАВНОЇ ПІДТРИМКИ МАЛОГО БІЗНЕСУ УКРАЇНІ

Small business in economically developed countries and national economies receives considerable attention, as it constitutes a significant segment of the market economy. A comparison of the criteria for assigning business entities to the "small" category in different countries shows that some enterprises, which are considered large in Ukraine, are classified as small or medium in foreign countries. Governments in other countries understand the importance of small businesses to the economy and use various government support tools, such as tax incentives, legal and advisory services, educational programs and loan support programs. However, a comparison of individual performance indicators of small business entities in economically developed countries and Ukraine shows low economic activity of Ukrainian enterprises. This is partly due to limited access to low-cost credit resources. In 2019, Ukrainian small and medium-sized businesses received credit from foreign banks, but the conditions for obtaining loans were complex and opaque, and the rates were much higher than in economically developed countries. Therefore, it is important to implement state programs aimed at providing informational and advisory assistance and credit support to small business entities in Ukraine, as they do in foreign countries, in order to activate their activities. The development of small business is one of the main factors in the formation of effective market relations in Ukraine, as it contributes to the creation of new jobs, stimulates the structural restructuring of the economy and provides the market with goods and services, which is especially important in a crisis period. However, small business is sensitive to changes in society, so its activities require state regulation and support. For this, it is necessary to carry out further theoretical justification and develop recommendations regarding the ways, conditions and resources necessary to support small business entities in the region with the help of various financial instruments The main problems of the functioning of small business in Ukraine are given, as well as the main directions of its state support are proposed.

TRENDS OF THE DEVELOPMENT OF UKRAINIAN BUSINESS UNDER MODERN CONDITIONS

The article is devoted to the current problems of the functioning and development of business in Ukraine under the conditions of the introduction of martial law. It is noted that in Ukraine, in the conditions of war, the level of business development does not meet the current needs of the country's economy, as well as the potential requirements of the world market. The reasons that hinder business development in the country are identified. Among the main ones are the difficult socio-economic situation, the breakdown of economic ties, the deterioration of payment discipline, and the high level of interest rates. However, the most acute problem for enterprises is the search for and obtaining financial. The role of managing the financial results of enterprises in ensuring the economic growth of the country and the social welfare of the population is defined. The main problems of business functioning in the country are considered. An analysis of the dynamics of the profitability of the functioning of domestic enterprises in recent years was carried out. The main obstacles to the effective functioning of enterprises were analyzed. An overview of the reserves for the growth of business efficiency was carried out, the main possible areas of business support from the state were considered. The main directions of the growth of the income of enterprises are proposed as the keys to effective business management in today's complex conditions. The state of business functioning in Ukraine today has been studied, and some positive trends in its further development have been outlined. It has been proven that in Ukraine, in the conditions of a large-scale war, the level of business development does not meet the current needs of the country's economy, nor even more so the potential requirements of the world market. The reasons that slow down the development of business in the country have been identified, in particular, such as: a difficult socio-economic situation, a breakdown in economic ties, a deterioration in payment discipline, a high level of interest rates. Features of the implementation of enterprise optimization mechanisms at the current stage are revealed.

РОЛЬ ІНФОРМАЦІЙНИХ ТЕХНОЛОГІЙ В ПРАКТИЦІ УПРАВЛІННЯ ПІДПРИЄМСТВ В СФЕРІ ТУРИЗМУ

The relevance of the topic under study lies in the fact that in the current economic environment, for the effective management of an enterprise in the tourism business and in the service sector in general, the task of actively implementing a system of digital technological support and digital transformation in the tourism business segment is a necessary component of optimal communication with the target audience. Thus, for each business entity in the tourism sector, including not only the main players in business programs and projects, but also taking into account a wide range of targeted partnership agreements for the organization and support of the tourism product, it is important to determine the role and importance of information technology in the practice of enterprise management, taking into account the conditions for the development strategy. The purpose of the article is to consider and formulate, on the example of tourism enterprises, the essence and importance of the role of information technology in their management practice. The object of the study is the system-forming factors for determining and formulating the role of information technology in the management practice of tourism enterprises. The subject of the study is a set of theoretical and methodological foundations for defining the essence and formulating the role of information technology in the management practice of tourism enterprises. The methods of observation and comparison, synthesis and analysis, statistical methods, as well as graphical techniques were used in the course of the research. The article summarizes the arguments about the importance of the role of information technology in the management practice of tourism enterprises in the context of the crisis in the Ukrainian economy. The scientific theoretical, methodological, analytical and applied foundations of the essence and importance of information technologies at different stages of organization and functioning of the tourism business in modern economic conditions are systematized, taking into account periods of uncertainty and crisis in the Ukrainian economy. The results of the study can be useful for employees of the tourism sector, the service sector in general; researchers, teachers, students of higher education institutions, who study, in particular, the specialties "Tourism" and "Hotel and Restaurant Business".

ЗАБЕЗПЕЧЕННЯ РОЗВИТКУ МАЛОГО ТА СЕРЕДНЬОГО БІЗНЕСУ В КРИЗОВИХ УМОВАХ

The article examines the functioning of small and medium-sized businesses in crisis conditions. A period of crisis conditions (2018–2022) for conducting business activities has been determined: the global economic crisis of 2018, the global pandemic of 2020–2022, and the full-scale war in Ukraine that began in February 2022 and continues to this day. The main measures of the domestic government in supporting small and medium-sized businesses to overcome the consequences of the global economic crisis in 2018 are analyzed: state business financing programs, which were carried out at the expense of the European Bank for Reconstruction and Development. Among the types of support, the main ones were: access to finance (46%), business development services (24%) and a favorable business environment (30%). The State program to stimulate the economy during the global pandemic of COVID-19 and its impact on the activities of entrepreneurs are characterized. The main government steps to help Ukrainian businesses after a full-scale invasion have been identified. The government’s implementation of the business recovery program in the pandemic partially adapted entrepreneurship to crisis conditions: the number of active business entities (in particular, small and large ones) decreased, albeit slowly. Considered the implementation of new state programs by the national government by making certain changes to the current legislation on supporting business activities and stimulating the economy during the war: the requirements for obtaining licenses and permits for many types of activities were canceled; the law on the liberalization of labor relations was signed; amendments were made to the Tax Code of Ukraine; the absence of inspections and various sanctions due to untimely submission of reports is ensured, except for certain exceptions; postponement of the fulfillment of the terms of contracts in the event of force majeure circumstances. The monitoring of the business environment during the war in Ukraine is characterized. The main domestic government products and programs used to improve the business environment in crisis conditions are listed. The main measures to ensure business development in crisis conditions and the results of their implementation have been determined.

Исследование существующей методики управления экономической деятельностью малых предприятий в контексте анализа и оценки показателей финансовых результатов их деятельности

Although much attention is paid to the problems of small business development in Kyrgyzstan in the context of the development of market relations, its socio-economic condition remains suboptimal. The problem lies primarily in the quantitative parameters of their functioning, as well as the creation of certain conditions for the development of small businesses, their management structure, and their effective cooperation with large enterprises. As for the methodology of science, the main task is to provide a heuristic form of cognition of strictly verified and tested principles, methods, rules and norms. In particular, in order to achieve success in research activities (for example, in the field of small business development, a scientist must master the “secret” of the method and possess a heuristic technology of scientific thinking. It is necessary to master the existing methodology, because not every researcher can create his own, original methodology of scientific research, which would have enough followers so that he could declare with full justification the creation of his own scientific school. Therefore, the majority of researchers should adhere to existing directions (methods), using proven methodological techniques to achieve scientific results in the field of functioning and development of small businesses.

Reliable Scheduling Method for Sensitive Power Business Based on Deep Reinforcement Learning

The main function of the power communication business is to monitor, control and manage the power communication network to ensure normal and stable operation of the power communication network. Communication services related to dispatching data networks and the transmission of fault information or feeder automation have high requirements for delay. If processing time is prolonged, a power business cascade reaction may be triggered. In order to solve the above problems, this paper establishes an edge object-linked agent business deployment model for power communication network to unify the management of data collection, resource allocation and task scheduling within the system, realizes the virtualization of object-linked agent computing resources through Docker container technology, designs the target model of network latency and energy consumption, and introduces A3C algorithm in deep reinforcement learning, improves it according to scene characteristics, and sets corresponding optimization strategies. Minimize network delay and energy consumption; At the same time, to ensure that sensitive power business is handled in time, this paper designs the business dispatch model and task migration model, and solves the problem of server failure. Finally, the corresponding simulation program is designed to verify the feasibility and validity of this method, and to compare it with other existing mechanisms.

Особенности функционирования субъектов малого бизнеса в регионе

Subject. For a long time, small business has been an important integrating part of the country’s economic and social system and plays a significant role in the economy of any country, as it ensures the stability of market relations (opens up new places for citizens to work in order to create a business); carries out high production efficiency (for deep specialization and cooperation), which has a beneficial effect on the stability of economic growth and strengthening market relations. A modern market economy is not able to work and be developed without small business. Its formation and development is one of the main goals of economic policy in conditions of normal functioning of the market mechanism. New progress is impossible without an objective assessment of the existing conditions of domestic small business, on the basis of which it will be possible to effectively design and implement social and economical programs to support it. Goal. Assessing the functioning of small businesses in the region. Method or methodology. In the course of the work, general scientific methods were used: comparison, analysis, synthesis, analogy. Results of the work. The Lipetsk region in 2022 occupies a leading position with a significant lead in the number of small and medium-sized businesses, with a significant advantage compared to the Tambov region, which ranks second in the ranking. In general, the Lipetsk region over the past years has been one of the most prosperous in the Central Federal District, with stable economic potential. The areas of the Lipetsk region, in which a high rate of dynamics in the development of small and medium-sized businesses is observed, require additional attention. According to these parameters, the leading position in the region is occupied by the Lipetsk district, followed in descending order by the Lev-Tolstovsky, Dobrovsky, Dobrinsky, Gryazinsky, Chaplyginsky and Eletsky districts. Conclusion. Public administration in the field of supporting small and medium-sized businesses is based on several tools, the leading of which is the national project «Small and Medium-Sized Enterprises and Support for Individual Entrepreneurial Initiatives» with the help of which individuals can fully unleash their business potential, increase their income and find like-minded people, developing both your business and the region in which the business is located.

Native American Voting Rights in Utah: Federal Policy, Citizenship, and Voter Suppression

Native American Voting Rights in Utah: Federal Policy, Citizenship, and Voter Suppression

The Impact of New Legal Regulations on The Functioning of Businesses Based on The Example of Atomic Law in Poland

The motive behind the study is the fact that there is a need for local government institutions and their management to apply the provisions of the Atomic Law Act introduced in Poland in 2020. It is the implementation of Council Directive 2013/59/Euratom. The excessive requirements combined with highly repressive legal regulations imposed by the legislator on a wide range of various organizations located in the so-called “Radon Belt” may cause a strategic shock for these organizations in the near future.

MONETARY POLICY OF THE EUROPEAN CENTRAL BANK IN THE CONTEXT OF COUNTERACTION TO CRISES IN THE FINANCIAL MARKET

Introduction. During the crisis monetary policy acts as the most important tool of influence on the economy through monetary levers, and therefore the functioning of the central bank serves as the institutional basis and foundation of the entire anti-crisis architecture within the framework of the state economic policy. The emergence of objective limitations to the effectiveness of traditional instruments of monetary regulation determines the need to compensate them with other levers of monetary influence aimed at maintaining proper economic activity and stimulating economic growth. Therefore, it is important to evaluate the work of the European Central Bank as the leading eurozone regulatory institution, whose monetary policy, despite all the problematic aspects, proves the success of its conventional and unconventional instruments. The purpose of the article is to study the experience of the European Central Bank in the construction of an effective mechanism of monetary regulation as an essential component of the state policy to overcome the consequences of crisis on financial markets and stabilize economic and social development. Results. The key aspects of functioning of the European Central Bank as the main eurozone regulator of economic processes are analyzed. The main periods of the implementation of the ECB's monetary policy are considered and systematized, characterizing a sequence of applying certain tools of monetary regulation at each of them and setting priorities for choosing the appropriate goals of monetary influence on the economy. Particularly noted are the trends that emerged during financial crisis and pandemic crisis in the eurozone and determined the need to expand the mandate of the European Central Bank by influencing not only price dynamics, but also maintaining the financial stability of the banking sector and facilitating the functioning of businesses and households. Objective economic preconditions are determined under which the ECB was forced to resort to the use of new instruments of monetary regulation. Conclusions. Based on the experience of the ECB's monetary policy, the need to expand the mandate of monetary regulation and the optimal combination of traditional and non-traditional central bank instruments for the implementation of large-scale measures of financial support for the banking system and the real sector of the economy is substantiated. Perspectives. As an important direction of future scientific researches should be considered the analysis of further ways to expand and optimize the monetary regulation tools at the disposal of central banks in order to successfully counteract the crises in the economy.

The Role of Integration Between Target Costing and Time-Driven Activity-Based Budgeting Techniques in Managing Time and Cost and its Reflection in Achieving Competitive Advantage

Abstract Traditional cost systems are no longer able to provide the appropriate information in line with the developments and changes of the contemporary and competitive business environments. However, with a vibrant change in the functioning of businesses today, such cost system features have also been replaced to meet the dynamic business environments. If these two techniques are applied in coalition, it is possible for the economic units to manage their time and costs easily, which acts as a competitive advantage for those units. The current research study aims at studying the complementary relationships of these two techniques by applying them in one of the laboratories of General Company for Textile Industries in Hilla, which represents the men’s clothing factory in Najaf. Based on the analytical results, the researchers arrived at several conclusions, while the most important conclusion was the identification of the absence of features to apply the target costing and time-driven activity-based budgeting techniques. The most important recommendation made to the men’s clothing factory in Najaf is the need to pay adequate attention for the application of two techniques to achieve their goals.

Вивчення поведінки споживачів в системі бренд менеджменту

The issues of how a human thinks and what influences his decisions, the ratio of rational and irrational in consumer behaviour, and how the decision-making process works while purchasing goods are phenomena of human nature that are being researched and explained by modern behaviourists. In the conditions of active globalization, the external environment's instability, and the rapid development of digital technologies, effective business functioning is impossible without the regular study of consumer behaviour. The purpose of the article is the creation a methodology for studying consumer behaviour to make the appropriate business decisions in the brand management system of a modern enterprise. The study of scientific research in behavioural economics and neuromarketing made it possible to create the methodology with a list of methods that should be applied at each stage of studying consumer behaviour. This methodology is a practical and effective tool for modern enterprises that aim to create new brands, review their brand management strategies, expand their portfolio, etc. This study also presents relevant advice (regarding the study of consumer behaviour) for brand managers and marketers who are directly involved in forming and implementing the company's brand management strategy. It has been established that no tool inside a person allows one to assess the absolute value of one thing. Hence, consumers concentrate on the advantages of one option over another and evaluate the rational (conscious) and emotional (unconscious) levels of the advantages of purchasing. In such conditions, the formation of business decisions in the company's brand management system should be based on the insights obtained from the relevant consumer behaviour study.

Increasing the number of business relationships as a way to overcome the modern entropy of environmental barriers

For efficient business functioning, the organisation's management needs to adopt and approve the organisation's strategy based on the ability to reduce or completely bypass possible risks associated with the influence of the external environment. The development of technology has facilitated the emergence of completely new business models that have seriously simplified the consumption process by reducing the time it takes to transfer goods from multiple sellers to the customer. But from the point of view of organisations specialising in a narrow segment of goods the situation can be more complex, because with the simplification of communication there are many competitors within one site, the strategic behaviour of a limited number of competitors can be calculated with the help of existing mathematical models or with the help of game theory, but when there are so many competitors that we cannot identify them all, one of the most difficult types of uncertainty appears - the uncertainty of ignorance. The solution to this problem is to increase the interconnectedness in the different fields of action of the organisation. By increasing the interconnections, namely their number, firstly, there is an opportunity to expand the activities of the organisation in several subsystems, thus allowing diversification of risks, and secondly, we acquire a large number of stakeholders in different subsystems, who will be interested in the long-term retention of the organisation at a sufficient level of efficiency. It is the increased interconnectedness that contributes to the necessary sustainability in the strategic perspective, as well as compensating and distributing the growing external uncertainty between the activities in the different subsystems.