Ukrainian Companies Research Articles

Companies' Financial Security Mechanism under Hybrid Conflicts

This scientific article is devoted to the development of the mechanism of companies' financial security management and measures to improve it under the hybrid conflict. The study is conducted on the prerequisites of Ukrainian companies operating in the zone of hybrid conflict. The study aims to develop a mechanism for managing the financial security of Ukrainian companies operating under hybrid conflicts. Insufficient scientific research on improving companies' financial security under hybrid warfare and the government's imperfect regulation of financial security makes the topic relevant for scientific research. The academic paper highlights the theory that whilst the hybrid conflict weakens the level of financial security of the company improves. Statistical and mathematical methods of calculations are used to carry out empirical research. The correlation between the peace index and the index of financial security of Ukraine is determined. The article's novelty involves the development of risks classification associated with non-military actions affecting the companies' financial security management. The financial security management mechanism's functional components have been developed in the research; the steps to improve financial security have been outlined. Two directions of development of financial security management, based on changes in the geographical location of the enterprise and the continuation of work in a hybrid conflict, are proposed. Contentious views have confirmed the fact that changing the enterprise's geolocation is less widespread; consequently, the proposed directions for the development of financial security are of practical importance for business in the temporarily occupied territories.

ПЕРСПЕКТИВИ ВПРОВАДЖЕННЯ АЛЬТЕРНАТИВНИХ ВИДІВ ЕНЕРГІЇ

The article considers the need to intensify the use of alternative energy sources. Environmental problems and the depletion of fossil resources are the main reason for the transition to an alternative type of energy. The possibilities of alternative energy determine the more active implementation of energy saving and energy efficiency measures. Prospects for the development of the use of alternative energy sources are proved by the gradual increase in their share in the total supply of primary energy in recent years. The study identified the need to create additional favorable economic conditions for the development of enterprises in this industry and the growth of the level of investment in this area. Investments in the modern «green» world are becoming a trend among investors. The «green» tariff for electricity is one of the incentives for the development of alternative energy – the use of power plants allows you to save on electricity and contributes to the development of the green energy industry in Ukraine. The results obtained in the study proved the effectiveness of the use of solar power plants in private households and confirmed the feasibility of developing state support programs for financing alternative energy. In Ukraine, there are a number of financing programs in the field of alternative energy to support Ukrainian companies. For the private sector, there is the State program of warm loans, with which some Ukrainian banks work. To increase the use of solar energy by individuals, more opportunities and guarantees must be provided. Ukraine has a significant potential in the development of alternative energy – at present, the use of such technologies in the country is almost at an early stage. The use of wind and solar energy, as well as biofuels and waste is gradually gaining momentum in Ukraine, but it is necessary to create additional conditions for further development. More active use of alternative energy sources will contribute to the growth of opportunities for the energy industry and requires further study of the mechanisms for the development and implementation of relevant programs and projects.

РИНОК ЗЛИТТІВ І ПОГЛИНАНЬ В УКРАЇНІ: ТЕНДЕНЦІЇ ТА ПРОБЛЕМИ

The purpose of the article is to study the current state, features and problems of the development of the market of mergers and acquisitions in Ukraine. The urgency of considering this topic is due to the importance for Ukrainian companies of participating in the processes of mergers and acquisitions, which gives the opportunity to expand the scope of activities, increase profitability, penetrate new markets, and reach a qualitatively new level of development. The essence of mergers and acquisitions as a form of integration processes has been specified. Motives for initiating the process of merger or acquisition are analyzed. The classification of types of mergers of companies is considered. An analysis of the state of development of the Ukrainian M&A market for the period 2017–2021 was carried out, positive dynamics of the number and value of deals were revealed. The distribution of M&A deals by industry was analyzed. The most attractive sectors of the Ukrainian economy from the point of view of conducting mergers and acquisitions were identified: IT and telecommunications, agriculture, food industry, mining industry. Attention was drawn to the significant growth of M&A deals in software, electronic and data-intensive industries due to the impact of the COVID-19 pandemic on increased Internet activity. It was concluded that the most active participants in the Ukrainian M&A market are European investors, investors from the Middle East and North America. Obstacles to the formation of investment attractiveness of the Ukrainian market are named, in particular: high tax pressure; lack of stimulating function of taxes; high currency risks and currency restrictions; ineffective system of protection of private property rights. Among the problems of the development of the domestic M&A market, the following are identified as the main ones: underdevelopment of the stock market; a significant share of unfriendly takeovers, shady deals and raiding of business assets; a high share of insiders among shareholders; low development of business culture and ethics; insufficient use of mechanisms for financing deals, such as IPO and LBO financing; lack of transparency and availability of information about concluded agreements. The main directions of activation of M&A processes on the Ukrainian market are outlined.

Development trends of the cluster movement in the economy of Ukraine

Clusters in Ukraine have problems with the rupture of production and distribution chains. To solve these problems, it is necessary to correct the activities of clusters under martial law. Violations of transport routes and relocation of business have a significant economic impact on the formation of global value chains. It is important to assess the political and economic factors influencing changes in global and regional value chains. In 2022, there have been significant changes in the global distribution of resources. The invasion of Russian troops into Ukraine has prompted the developed world community to push Russian and Belarusian companies out of the global value chain. Such changes provide new opportunities for Ukrainian business. Creating new global and regional value chains can be based on innovative industrial high-tech ecosystems. Developed industry and regional clusters can be based on such ecosystems. It is proposed to consider new proposals to adjust the areas of cooperation of Ukrainian clusters and refocus their activities in the new economic situation. Integration into global and regional businesses may include the development of services, the development of international cooperation between enterprises on global business platforms. The article aims at study of the innovative development of clusters as the basis of economic recovery of Ukraine. Actual is to research the foreign economic activity factors of Ukraine within the framework of development of clusters. Innovative development is an important component of the country's economic growth. The development of innovative industrial high-tech clusters for successful integration into the global economy is important for Ukraine. Clusters consolidate the existing potential of companies in order to obtain synergies. The authors try to formulate modern directions of development for further integration of the Ukrainian clusters into EU economics. Clusters should also be open to participation in new projects related to the restoration of Ukraine's infrastructure. The article examines the examples of integrating Ukrainian companies into international cooperation and the structure of regional cluster of Zaporizhzhia “Engineering – Automation – Machinery” (EAM).

ЗАСТОСУВАННЯ МІЖНАРОДНОГО ДОСВІДУ У ФОРМУВАННІ АМОРТИЗАЦІЙНОЇ ПОЛІТИКИ В УКРАЇНІ

Depreciation policy is one of the main components of the state economic policy. The specifics of its implementation depend on the general state of the country’s economy development and the main tasks set for the nation or an individual enterprise. Depreciation policy is closely related to the tax system of the state, the procedure for accounting for non-current assets, and pricing. In contrast, depreciation deductions are an essential source of self-financing for enterprises. Therefore, the depreciation policy is subject to special attention from the state and each enterprise. However, in Ukraine, unlike most developed countries, the main directions of the depreciation policy of enterprises are not adequate. The article considers the development and operating patterns of depreciation policy of Ukrainian enterprises. Depreciation methods according to international and national standards have been studied. The ascertained components of the depreciation policy included the calculation of depreciation rates and amounts; distribution of accrued depreciation on separate analytical expense accounts; determination of the liquidation value of the object of fixed assets and other non-current assets, selection of the period of useful use of the object of fixed assets and other non-current assets, and others. The article studies the specifics of the depreciation policy of enterprises in Eastern Europe and G7 countries and, by comparing the depreciation policy of domestic enterprises and those in the countries under consideration, highlights appropriate ways to improve the depreciation policy for Ukrainian companies. The conclusion outlines proposals to improve the efficacy of domestic depreciation policy through applying international expertise and measures the potential impact of the proposed changes on the depreciation policy and economic efficiency of domestic enterprises.

ФОРМУВАННЯ КОНКУРЕНТНИХ ПЕРЕВАГ КОМПАНІЇ ШЛЯХОМ РОЗВИТКУ ІННОВАЦІЙНИХ МОЖЛИВОСТЕЙ

The formation of competitive advantages of enterprises on the basis of innovations is the main prerequisite for ensuring the efficiency of their activities, the direction of overcoming crisis situations in which a significant number of Ukrainian business entities in various industries and forms of ownership are. At the same time, the solution of this problem should be considered from the standpoint of improving the theory and methodology of forming competitive advantages in the context of the use of innovations. From a scientific point of view, within a particular subject area, the issue of com-petitive advantage of enterprises is unresolved, thus determining the relevance of the research topic. The purpose of this study is to study and systematize the theoretical and methodological aspects of competitive advantages taking into account the innovation component, as well as a description of the method of building an integrated rating of large Ukrainian companies based on hierarchical ranking procedure to determine their competitiveness. The methodological basis was made by general scientific theoretical methods: generalization, explanation, grouping – for the study of the conceptual apparatus; statistical – for a comprehensive economic assessment of the current state of competitive advantages of the largest companies in the leading sectors of the economy of Ukraine; methods of system analysis and synthesis, economic and mathematical and expert methods of analysis of competitive advantages, methods of abstraction and visualization (for visual demonstration of research results and analytical data). The integrated rating proposed in the work allows to estimate the level of competitiveness of companies compared to previous periods and to draw a conclusion about the feasibility of investment. The authors recommend using the presented tools in developing a competitive strategy of the enterprise. The next step in the study is to analyze the sequence of use of competitive advantages of the enterprise. Thus, competition can be seen as a dynamic process in which companies are forced to use new technologies, attract investment, adapt to ever-changing market conditions.

РОЗВИТОК КОРПОРАТИВНОЇ СОЦІАЛЬНОЇ ВІДПОВІДАЛЬНОСТІ У ДІЯЛЬНОСТІ СУЧАСНОЇ УКРАЇНСЬКОЇ КОМПАНІЇ

Today the Ukrainian business environment is characterized by continuous transformation processes, which contributes to the permanent change of operating conditions of companies.The active development of Ukrainian business poses new challenges to domestic companies for change and innovation, which are directly related to the need of using the concept of socially responsible business. The intensification of competition in the Ukrainian market is forcing companies to improve their current business processes and intensify new effective management tools. In the system of modern management such a tool is corporate social responsibility. Most Ukrainian businesses have already realized that in order to achieve sustainable development, increase competitiveness, increase market share and improve reputation, it is necessary to make a positive business contribution to the development of corporate social responsibility, which will include economic, environmental and social factors. Such a strategy will serve to create favorable conditions for successful business in the long run. Theoretical bases of formation of corporate and social responsibility are investigated. The evolution of CSR is considered. The necessity and efficiency of implementation of the concept of socially responsible business are determined. The current state of the Ukrainian CSR market is analyzed. The stages of development of corporate social responsibility are determined. Trends and key directions for the development of CSR in the activities of a modern Ukrainian company have been formed. The purpose of the article is to study the content of corporate social responsibility, justify the need to intensify the position of socially responsible company and determine the main social activities of business for the development of CSR in the activities of modern Ukrainian companies.

SOCIAL RESPONSIBILITY OF UKRAINIAN BUSINESS: CURRENT STATE AND DEVELOPMENT PROSPECTS

Objective. The objective of the study is to summarize the experience of corporate social responsibility in the domestic economy and develop recommendations for further use of social responsibility by domestic companies in the postwar period. Methods. In order to achieve the objectives and goals, the following research methods were used: systematic and comprehensive analysis (to identify trends in social responsibility of domestic business), comparison and grouping, graphical and tabular methods (for visual representation of statistical material), abstract-logical method to formulate proposals and conclusions). Results. The current state of social responsibility of business in the domestic economy is considered. It is established that in recent years Ukrainian business has become aware of the need to meet the goals of sustainable development and implementation of measures for social responsibility. Analysis of the dynamics of companies participating in the UN Global Compact network by the years of their accession showed their growth in 2019-2021. It was found that a small number of Ukrainian companies implemented corporate social responsibility policies and only some of them had a clear strategy. A study of the dynamics of annual budgets of domestic companies for corporate social responsibility measures in 2019-2020 showed their instability. Most of the measures on corporate social responsibility in 2020-2021 were focused on programs to combat the COVID-19 pandemic, educational programs, projects to reduce gender inequality, and environmental programs were implemented. The main areas of business assistance during the war are financial assistance, humanitarian support, payment of taxes in advance, participation in information resistance, assistance to employees, IT support. The results of the polls show the importance of assistance to Ukrainians from domestic companies during the war, especially the Armed Forces of Ukraine and defenders. It is established that the key areas of corporate social responsibility in the near future will be: compliance with EU requirements, humanitarian assistance to victims and residents of cities, measures for children's education and adult education, medical assistance, environmental protection and security measures.

EVOLUTION OF VALUE MOTIVES OF CONSUMPTION IN POST-SOVIET COUNTRIES: THE EXAMPLE OF UKRAINE

The paper considers the evolution of household consumption in Ukraine to study the changes in consumer behaviour over time. The purpose of this study is to analyse patterns of consumer behaviour in Ukraine and their historical roots. This will facilitate a better understanding of factors driving consumer behaviour of Ukrainians, help forecast its future changes and develop mechanisms and instruments for Ukrainian companies to manage consumer behaviour. Research results reveal that Soviet consumption habits are still affecting Ukrainian patterns of consumer behaviour. Even younger population that has never experienced the Soviet system is affected by its consumptive patterns to some extent. After the USSR’s collapse, Ukraine started to adopt consumer behaviour patterns from the Western world, first of all the consumerism and its inherent consumer protection, as well as the more recent fight against excessive consumption. At the same time, another global consumption trend – creative consumerism – is being actively adopted by Ukrainians, partly because such forms of behaviour are inherited from Soviet society. Modern technologies along with the COVID-19 crisis effect the patterns of consumer behaviour in Ukraine, primarily through the increasing role of online technologies in consumer decision making, in purchasing and post-purchasing processes.

Порівняльна характеристика ризик-орієнтованих фінансових стратегій компаній на міжнародному ринку в умовах війни

The article is aimed at comparing existing risk-oriented financial strategies and developing recommendations for their implementation in the activities of Ukrainian companies focused on international markets, especially under conditions of martial law. The article is devoted to the analysis of modern approaches to determining risks and their implementation in the financial strategy. It is proved that modern enterprises, especially those operating in the international market, are focused on the constant updating of the financial strategy in accordance with the requirements of the external environment. It is found that at the present stage of economic development, companies, in particular international ones, operate in the conditions of the sixth technological structure of the economy. The processes of economic development at this stage are associated with the introduction of technological, organizational and institutional innovations, paying special attention from science and management practice to the implementation of a risk-oriented approach, even for enterprises engaged in the production of consumer goods. Today, the implementation of risk management best practices is directed towards improving the management’s ability to predict and respond to changes so that the company not only survives in conditions of uncertainty, but develops and shows better results. The main risks of the development of modern companies are specified, among which are: the risk of interruptions in production; risk of cyber incidents; risk of natural disasters; risk of amendments to legislation and public policy; risk of changes in the market situation; risk of new competitors entering the market; risk of new technologies; risk of climate change; risk of reputational damage or a decrease in brand value; risk of a shortage of skilled labor force. It is proved that taking into account these risks in the development of a financial strategy is a necessary condition for the stable development of the company. The advantages and disadvantages of each of the risk-oriented financial strategies of international companies proposed in the article are systematized as follows: concentrated growth; integrated growth; diversified growth; differentiation; minimum costs; development. It is determined that for modern enterprises operating in a turbulent external environment, but at the same time promoting their products to world markets and hoping to more actively explore new markets, it is extremely important to choose the optimal financial strategy that would take into account the risks. Precisely for this purpose, the existing financial strategies are systematized in the publication and it is proved that the application of these strategies in the context of risk orientation can increase the efficiency of enterprise development in the international market.

Діджиталізація українських компаній як механізм конкурентної боротьби на глобальному ринку зернових

Increasing competition in the global market requires new business management mechanisms and tools to provide companies with certain advantages. In particular, agricultural holdings of Ukraine in the pre-war period began to digitize actively. In wartime, the direction of digital transformation of business management was not only actualized but also partially ensured the survival of companies and the safety of their personnel. The article's purpose is to summarize Ukrainian companies' experience regarding the digitalization of economic activity. It was revealed that the largest agrarian companies operating in the grain market are represented in the rating of the TOP companies of Ukraine regarding profit indicators and sales volumes. The article analyzes the level of digitalization of production processes of such Ukrainian agricultural holdings as Kernel, MHP, Astarta-Kyiv, Ukrlandfarming, Agro-Region. Today, agricultural companies apply the elements of digitalization in a fragmented manner. However, in the future, it is expected that this will lead to the formation of a digital ecosystem that will unite all digital solutions and cause their gradual expansion to all aspects of economic activity. Digital transformation is most noticeable precisely in the traditional sectors of the economy, which were previously the least involved in automation processes. The effectiveness of the implementation of digitalization in the activities of the agricultural industry can reach 90%. In general, investments in innovative digital management and production technologies contribute to forming competitive advantages for Ukrainian businesses in the global grain market. The issue of digital interaction among various market participants remains problematic due to their use of individual approaches to digitization. Therefore, there is a need to coordinate the efforts of all market participants in order to unify approaches to the digitalization of information exchange processes, product labeling, and logistics operations.

Brand Promotion Strategy in the Internet Services Market

Digital technologies have become an integral part of modern life, the Internet services market is rapidly developing all over the world, which requires business companies to enter cyberspace. Staying on the Internet has long been an obligatory part of the business not only for large multinational companies but also for small regional and local business structures. It is not just the presence of a website or a group in social networks that is important, a brand communication strategy is necessary. The relevance of the studied subject is due to the need to increase the competitiveness of Ukrainian companies in the field of Internet marketing. The purpose of the article is to develop standard recommendations for strategic brand promotion in the Internet services market, to study the most effective promotion tools and communication channels with the audience in cyberspace. The leading methods for studying the problem were sociological and statistical methods. The technologies of system analysis and modeling are applied. The article analyses the best international and industry branding practices in cyberspace, examines the e-commerce market in Ukraine, and structures the main trends in its development. The material of the article formulates the mechanism for developing and introducing a brand positioning strategy in the e-commerce market, the main characteristics of successful branding, structures recommendations for the use of marketing technologies on the Internet. An important component of the research is the analysis of digital marketing tools and communication channels in the Internet services market. The materials of the article are of practical importance for the business community, specialists in the field of public relations, marketing, advertising, sales departments, and other specialists in the field of management. Effective brand management of Internet services allows increasing the commercial results of one's business, provides additional competitive advantages

MARKETING RESEARCH OF THE MEDICINE MARKET FOR THE TREATMENT OF BREAST CANCER IN UKRAINE

the article presents the results of the study of the marketing market of medicines for the treatment of breast cancer in Ukraine during 2019-2020. Medicine treatment schemes based on a clinical protocol were analyzed. On December 1, 2019, 184 drugs were registered for the treatment of breast cancer in Ukraine, and on December 1, 2020 - 194. In 2020, the largest share among of the studied drugs belongs to the group of antineoplastic and immunomodulatory drugs - 82.0 %, and the group of drugs that affect the musculoskeletal system - 18.0 %. On December 1, 2020, drugs were represented by 43 manufacturers, of which 18.6 % were Ukrainian and 81.4 % were foreign. Among Ukrainian companies, the primacy belongs to Pharmex Group LLC (4.1 %), Teva Ukraine LLC (3.1 %) and Farmak JSC (2.6 %). The largest share of foreign suppliers occupies Great Britain - 26.3 %, Switzerland and India by 11.9 %. At that time, in 5 pharmacotherapeutic groups (L01AA01, L01BA01, L01CA04, L01XC07, M05BA03) is not represented by any drug Ukrainian manufacturer. Analysis of the assortment of drugs for the treatment of breast cancer by dosage form in 2020 showed that the main share (35.6 %) is represented by concentrate for solution for infusion, 21.6 % - tablets and 20.6 % - lyophilisate for solution for infusion. Other dosage forms form a total of 22.2 % of the total assortment of drugs, studied in the Ukrainian market.

Talent management practices in IT companies of Ukraine: Differences in exclusive and inclusive approaches

Employees, their knowledge, and skills are becoming an increasingly important factor in the performance and competitiveness of companies in the XXI century. Approaches to talent management vary around the world. The more technological the company, the more unique the technology of using human capital and the higher the level of employee stress. The aim of the study is to establish statistically significant differences in exclusive and inclusive approaches to talent management in Ukrainian IT companies. The study employed methods of psychodiagnostic and descriptive statistics. The research period is from January to June 2021. The total number of respondents is 150 employees from the TOP-50 largest IT companies in Ukraine as of 2020. The population of the empirical study included 70 men (46.7%) and 80 women (53.3%) aged 21 to 40 years. The results of empirical analysis show that, indeed, the degree of employee burden in IT companies is enormous. The study empirically confirmed and theoretically proved that there are statistically significant differences in exclusive and inclusive approaches to talent management. IT companies that use an exclusive approach show burnout rates at an average level (according to 38.5% of respondents), and talents are already working at the limit of their psycho-emotional resource capabilities.

Основні проблеми оборонно-промислового комплексу та шляхи їх подолання

Проаналізовано діяльність оборонно-промислового комплексу (далі – ОПК) за роки незалежності України. Окреслено основні проблеми оборонно-промислового комплексу України та запропоновано способи активізації та розвитку у сфері ОПК України. Здійснено аналіз зарубіжного досвіду щодо державної підтримки оборонних підприємств, метою якої є переоснащення Збройних сил. Наведено позитивні зрушення в управлінні комплексом загалом та оборонними підприємствами зокрема після створення ДК “Укроборонпром”. Розглянуто перспективи розвитку оборонно-промислового комплексу України в сучасних умовах. Доведено необхідність реформування, передусім на законодавчому рівні оборонно-промислового комплексу України. Визначено особливості правового, економічного та організаційного регулювання перетворення Державного концерну “Укроборонпром” в акціонерне товариство.

ON THE ISSUE OF DEVELOPMENT OF CORPORATE SOCIAL RESPONSIBILITY OF AGRICULTURAL BUSINESS ENTITIES

The article examines the methodological principles of corporate social responsibility (CSR) development in the agricultural sector of Ukraine. The advantages of implementing the CSR system in the practice of Ukrainian agrarian formations are substantiated on the example of IMK agricultural holding. The main incentives that will contribute to the spread of corporate social responsibility are identified, and the main directions of CSR development in agribusiness are proposed. Corporate social responsibility of agrarian business entities can be interpreted as a process of implementation of voluntarily accepted obligations to meet the social needs of employees of the business entity, as well as partners and other members of society in general. IMK is one of the 10 largest agricultural companies in Ukraine. It is an integrated economic entity that carries out its activities in such areas as growing crops (sunflower, soybeans, wheat, corn) and storage of products; milk production. The company pursues an active social policy in the following areas: personnel, labor and health protection, industrial safety, environmental protection, social program "IMK helps". Regarding this agrarian formation, the following can be stated: first, an important component is environmental protection and resource conservation, as corporate and social business must take comprehensive initiatives to reduce the harmful effects of its production and economic activities on the environment; second, politics socially responsible companies should provide social programs for residents of the region of business, which include support for socially vulnerable groups, support for the preservation and development of housing and communal services and cultural and historical sites, etc.; thirdly, the development of the company's staff should be aimed at training and professional development, taking into account the maintenance of a high level of motivation employees, both in terms of pay and social package, the creation of appropriate conditions for recreation and leisure, support of internal communications in the company, as well as the active participation of the personnel of the business entity in management decisions. The main directions of increasing the level of competitiveness of "IMK" on the basis of the development of corporate social responsibility are implementation of the policy of responsible attitude of the company to its employees; support, and development of the position of active citizenship; initiating a dialogue with influence groups as a tool for obtaining information on optimizing social programs and minimizing enterprise risks; introduction of reporting standards in its social responsibility program; creation of separate subdivisions, the introduction of separate positions that will be responsible for CSR management activities; increase of the company's budgets for CSR activities. All this will improve the business reputation and image among the population, consumers and customers, investment attractiveness of the company, and more.

Personnel qualimetric assessment of the consumer information center of insurance organization

The object of the study was the system for assessing the quality of the information service personnel of the insurance company. When determining the approaches to improving the relevant components of the quality system, the organization took into account that the personnel assessment process is the most painstaking, complex and lengthy aspect of the firm’s activities. Mistakes in such a matter can not only cost one person’s dissatisfaction, but affect a certain number of problems regarding the stable functioning of an entire institution. The complexity of this issue lies in the absence, in general, of universal quantitative assessment criteria and the strong influence of the «human factor», which necessitates the use of expert qualimetric approaches with an increase in the objectivity of the assessment. In this regard, the work was aimed at developing an objective system for assessing personnel on the example of the information service of one of the insurance companies in Ukraine using qualimetric methods. Tools for the integrated qualimetric assessment of the quality of the information center employees’ activities, which consist in determining of the appropriate list and significance of the personnel performance quality indicators, were proposed with an analysis of the possibility of their identification and measurement. Additionally, it is recommended to take into account independent control using «mystery shopper», as well as the self-esteem of workers. The obtained results were used in the development of the Methodology (Procedure) of the quality system for the assessment of activities and personnel certification. The use of the outlined approaches makes it possible to increase the level of satisfaction of customers and consumers of insurance services, to increase the economic efficiency of the organization’s activities, to differentiate personnel by the quality of work with appropriate personal encouragement for training, self-realization and work productivity. The deliverables may be useful to organizations in the relevant domain and may be applicable in other similar settings.

COMPREHENSIVE ASSESSMENT OF INSURANCE COMPANY’S COMPETITIVENESS BY CLUSTER AND DISCRIMINATIVE ANALYSIS METHODS

The article considers the application of cluster analysis to the study of the dynamics of insurance companies, with its help it is found to which cluster the researched company belongs. Due to the structure of the insurance company’s liabilities to the insured, and hence the assets they manage, insurance companies are highly valued as long-term and stable investors. This has certain advantages not only for the insured, but also for society and the economy as a whole due to the role of financial intermediaries on the part of insurance companies. With the help of cluster analysis, companies were divided into three groups – strong, medium, weak in rating. However, for the most accurate assessment, discriminant analysis was used based on the already obtained results of cluster analysis. The affiliation of the studied object (insurance company) to one of the selected classes is determined on the basis of the constructed discriminant model. Classification tables for each observation, tables of squares of Mahalanobis distances and tables of a posteriori probabilities of affiliation are used. Discriminant analysis based on the already obtained results of cluster analysis was used. Discriminant analysis gave the final assessment and rating of insurance companies in Ukraine. Discriminant analysis is devoid of these shortcomings and includes statistical methods for classifying multidimensional observations in a situation where the researcher has so-called training samples. This type of analysis is multidimensional, as it uses several features of the object, the number of which can be large. The purpose of discriminant analysis is to, based on the measurement of various characteristics of the object to classify it, that is to refer to one of several given groups in some optimal way. It is assumed that the source data, along with the characteristics of the objects contain a variable of class, which determines the affiliation of the object to a particular group. Therefore, this analysis provides for the verification of the consistency of the classification. Discriminant analysis made it possible to make a final assessment and rating of insurance companies in Ukraine, and allowed to assess the quality of the model and the importance of the studied indicators. The initial data were formed with the help of qualitative and quantitative indicators, which made it possible to more accurately and broadly assess the state of insurance companies.

Особливості впровадження та розвитку циркулярної економіки в Україні

The article is devoted to the study of circular economy, its concept; the main circular business-models, their essence and advantages in the practical application based on the analysis of researches of their introduction and use in the world and domestic companies are analyzed; features of the development of circular economy in Ukraine in disclosure of researches of sources of financing of innovative activity and a share of innovative enterprises in general scale are revealed; the expediency of introduction of energy-efficient and energy-saving technologies at the enterprises within the limits of socially responsible production is substantiated. The results of the study showed that the development of the circular economy in Ukraine is at a much lower level compared to the world, due to negative factors such as ignorance of the population and entrepreneurs the necessity of circular economy transition, lack of full and perfect legislation, the unpreparedness of enterprises change in favor of environmental friendliness. However, it is still an enterprise that is ready to act and change by implementing environmental solutions, such as energy-efficient technologies, thus contributing to its competitive position. In the context of the need to move to a circular economy, scientists, politicians, businesses, consumers, public and international organizations are increasingly studying the basic principles and models, as well as their possible implementation and features of use. In addition, both domestic and international companies are trying to be socially responsible and implement energy-efficient technologies that reduce the consumption of energy resources, economic resources, increase the competitiveness of production. This means that both foreign and domestic companies, at the same time, must clearly understand the methods, ways, and opportunities to achieve the most competitive position as a socially responsible enterprise. Therefore, based on examples of implementation of methods and solutions in the field of circular economy in global companies, as well as using their experience, knowledge and skills, Ukrainian companies will be able to achieve at least the same level of social responsibility. However, it should be understood that these actions should be legally protected, which should serve as a regulatory framework developed by the state. Only with such bilateral work can Ukrainian enterprises and Ukraine in general become an example to follow for other countries.

MARKETING RESEARCH OF THE MEDICINE MARKET FOR THE TREATMENT OF BREAST CANCER IN UKRAINE

the article presents the results of the study of the marketing market of medicines for the treatment of
 breast cancer in Ukraine during 2019-2020. Medicine treatment schemes based on a clinical protocol were ana-lyzed. On December 1, 2019, 184 drugs were registered for the treatment of breast cancer in Ukraine, and on De-cember 1, 2020 - 194. In 2020, the largest share among of the studied drugs belongs to the group of antineoplastic
 and immunomodulatory drugs - 82.0 %, and the group of drugs that affect the musculoskeletal system - 18.0 %. OnDecember 1, 2020, drugs were represented by 43 manufacturers, of which 18.6 % were Ukrainian and 81.4 % wereforeign. Among Ukrainian companies, the primacy belongs to Pharmex Group LLC (4.1 %), Teva Ukraine LLC (3.1%) and Farmak JSC (2.6 %). The largest share of foreign suppliers occupies Great Britain - 26.3 %, Switzerlandand India by 11.9 %. At that time, in 5 pharmacotherapeutic groups (L01AA01, L01BA01, L01CA04, L01XC07,
 M05BA03) is not represented by any drug Ukrainian manufacturer. Analysis of the assortment of drugs for the treat-ment of breast cancer by dosage form in 2020 showed that the main share (35.6 %) is represented by concentrate for
 solution for infusion, 21.6 % - tablets and 20.6 % - lyophilisate for solution for infusion. Other dosage forms forma total of 22.2 % of the total assortment of drugs, studied in the Ukrainian market.