Competitive Market Economy Research Articles

Enhancing multi-objective evolutionary algorithms with machine learning for scheduling problems: recent advances and survey

Multi-objective scheduling problems in workshops are commonly encountered challenges in the increasingly competitive market economy. These scheduling problems require a trade-off among multiple objectives such as time, energy consumption, and product quality. The importance of each optimization objective typically varies in different time periods or contexts, necessitating decision-makers to devise optimal scheduling plans accordingly. In actual production, decision-makers confront intricate multi-objective scheduling problems that demand balancing clients’ requirements and corporate interests while concurrently striving to reduce production cycles and costs. In solving various problems, multi-objective evolutionary algorithms have attracted the attention of researchers and gradually become one of the mainstream methods to solve these problems. In recent years, research combining multi-objective evolutionary algorithms with machine learning technology has shown great potential, opening up new prospects for improving the performance of multi-objective evolutionary methods. This article comprehensively reviews the latest application progress of machine learning in multi-objective evolutionary algorithms for scheduling problems. We review various machine learning techniques employed for enhancing multi-objective evolutionary algorithms, particularly focusing on different types of reinforcement learning methods. Different categories of scheduling problems addressed using these methods were also discussed, including flow-shop scheduling issues, job-shop scheduling challenges, and more. Finally, we highlighted the challenges faced by the field and outlined future research directions.

APPLICATIONS OF TALENT MANAGEMENT IN THE TRAVEL AND TOURISM SECTOR : A SYSTEMATIC REVIEW OF THE LITERATURE

The fourth industrial revolution's revolutionary changes to the business environment and skill sets, along with increased global mobility, global demographic and economic trends, and a more diverse workforce, are creating the ideal storm for strategic human resource management (SHRM). A tough corporate climate that requires constant advancement and innovation has been identified as the hallmark of the knowledge-based economy. Organizations' capacity is significantly impacted by the caliber of knowledge they apply to succeed in the increasingly competitive knowledge-based market economy.
 The methodologies of this study employed the traditional Systematic Literature Review (SLR), which compiled some previous studies to be examined. The initial studies were only selected from the article published in a reputable journal indexed by Scopus. Of the 207 reviewed articles, 31 articles were selected to be included in the analysis.
 Talent management is the methodical planning, acquisition, development, performance management, engagement, and retention of workers who have been identified as having talent within the company. In order to establish an evidence-based comprehensive multilevel framework, this review intends to compile empirical evidence on the components of talent management. The crucial components are talent management practices, determinants, and results. This evaluation attempts to describe the majority of talent management practices as well as the best suggestions for enhancing talent management in the tourism industry

The way forward from Guild Socialism: a comment on Hodgson

Abstract This note starts from Hodgson’s (2023) thorough review and critique of Guild Socialism and argues that his proposed way forward—a decentralised producer cooperative sector embedded in a competitive market economy—is likely to be a political impossibility. A political economy model of a system of labour-managed firms is outlined which shows that laissez-faire on investment decisions is likely to be outvoted by a capital tax/subsidy scheme that redistributes income from rich coops to poor coops.

Towards Sustainability: A Quantitative Inquiry into Chinese University Students’ Perceived Learner Empowerment and Innovative Behaviour

Innovation is universally acclaimed as the crux of organisational sustainability in the current dynamic and competitive market and knowledge economy, and psychological empowerment provides a more comprehensive pathway to human creative performance. However, the pivotal role of students’ innovation in driving sustainability has been largely overlooked within the context of higher education for sustainable development (HESD). This study investigated the relationship between university students’ perceived learner empowerment and their innovative behaviour from a multistage perspective. An online survey was conducted among 868 Chinese university students from 21 institutions. The results indicated that Chinese students’ self-perceived level of empowerment and innovative behaviour was relatively high, but that they viewed themselves as less competent in generating innovation outputs. The results of structural equation modelling revealed that competence was positively related to all factors of innovative behaviour, the impact was positively associated with six factors of innovative behaviour, and meaningfulness was positively related solely to involving others. The findings have significant implications for stimulating students’ innovative behaviour towards sustainable development.

Понятие, сущность и принципы приватизации

The article is focused on the phenomenon of privatization, its essence, different approaches to the definition of this phenomenon. It is emphasized that this phenomenon is one of the important mechanisms of public admin-istration. It allows achieving goals and solving tasks, primarily, of an economic nature, which the owners set for themselves. The latter are the authorities and the state as a whole. Privatization is an important aspect of the country's economic efficiency. It is responsible for creating a strong competitive market economy, forming ef-fective owners, creating conditions for social equality of citizens in the privatization process, and ensuring the existence of an effective investment climate. Conclusion dwells upon the fact that privatization is a complex and comprehensive phenomenon that affects all spheres of our life and is necessary for building a prosperous, democratic state.

Innovative Development Measures of the Chinese Medicine Industry in Industrial Big Data with the Aid of AI in the Context of an Imperfectly Competitive Market Economy

ABSTRACT The use of traditional Chinese medicine for healthcare has been on the rise in recent years, leading to the rapid development of the industry in China. However, the industry still faces several challenges, including the supply of raw materials, changing market demands, and competition from foreign competitors, especially during the current era of rampant epidemics. To address these challenges, advanced technologies such as artificial intelligence (AI) can play a significant role in enhancing the innovation and competitiveness of the Chinese medicine industry. One such technology is the Long Short-Term Memory (LSTM) algorithm, a recurrent neural network that has proven effective in processing and analyzing sequential data. By utilizing this algorithm, the Chinese medicine industry can harness the vast amounts of data generated during various stages of production, from raw material selection to clinical practice. This can optimize processes, improve product quality, and enhance treatment outcomes.

МАМЛАКАТИМИЗДАИННОВАЦИОН ФАОЛЛИККАҚАРАТИЛГАНМОЛИЯВИЙ-ИҚТИСОДИЙ ЖАРАЁНЛАР

It is known that without the development of science and technology, the formation and development of a national economy based on market relations and the transition to a competitive market economy can cause certain inconveniences and difficulties. Therefore, the state is taking a number of measures to produce innovative products in the country based on innovative innovations. It is known that the improvement of the production process based on innovative developments at the level of world standards, the acceleration of financial and economic processes aimed at innovative activities in our country will depend on the volume of innovative investments directed to it. At the same time, investments can be made by the state, private business and foreign countries and entrepreneurs. It is these questions that determine the relevance of the topic of the article.

Consolidating Ireland’s Indigenous Social Enterprise Sector – A Policy Perspective

Abstract The National Social Enterprise Policy for Ireland (2019 – 2022) was a watershed moment for social enterprise in Ireland. Ireland has a rich, proud and diverse experience of social economy and social enterprise, yet the policy framework developed comparatively later than in some other EU member states. Since its launch in 2019, the Policy has helped to significantly shape the social enterprise sector in Ireland including through targeted measures and improved coherence across government policy. At the same time, the sector is still in a nascent phase and faces dramatic new challenges associated with the realities of focussing on social impact whilst trading in a competitive market economy traditionally focussed on export-potential, which have been exacerbated by the economic effects of the COVID-19 pandemic. As this foundational Policy comes to the end of its term, the Government, in partnership with the sector, now faces another significant juncture which will determine how successful social enterprise can be in moving from the margins to the mainstream and contributing to Ireland’s economic, social and environmental progress. The current article seeks to clarify the features of Ireland’s indigenous social enterprise sector, and offers perspectives on some of the prerequisites for an ambitious and impactful successor policy in 2023 to unlock the potential of the sector to grow in scale and impact.

Improving the Management of Organizational and Economic Mechanisms of Chemical Industry Enterprises

The effective development of the national economy of the Republic of Uzbekistan in a competitive market economy and the increasing trends of globalization affecting the chemical industry is carried out on the basis of an investment policy that takes into account modern realities and is aimed at intensifying production and reducing the impact of negative factors hindering the progressive socio-economic development of the state. The reforms carried out in the country to establish a market economy have predetermined the long-term importance of the chemical industry as generating a multiplicative effect in the social and economic spheres. Improving the organizational and economic mechanism of a chemical industry enterprise involves interaction in the operational and strategic management of restructuring projects of industry enterprises. In the article, the author attempts to consider some issues of improving the management of organizational and economic mechanisms at enterprises of the chemical industry of the economy of Uzbekistan.

Non-Renewable Resources and Sustainable Resource Extraction: An Empirical Test of the Hotelling Rule’s Significance to Gold Extraction in South Africa

The study sought to test the applicability of Hotelling’s rule to gold extraction in South Africa. In environmental economics, Hotelling’s rule has come to be a pillar of the exhaustible resources framework and in addition to this, it has presented essential insights into the consumption and extraction of non-renewable resources. According to Hotelling’s Rule, the extraction path in competitive market economies will, under certain circumstances, be socially optimal. An extraction path that is not socially optimal compromises the welfare of future generations. The welfare of South Africa’s present population, particularly in the future, will be greatly determined by the stock of natural resources available. Currently, the production processes deplete natural resources in a way that is not sustainable. For instance, South Africa’s gold reserves are becoming depleted at a rate that, within 25 to 33 years, will mean the end of the industry on which South Africa’s economy has been built. This raises questions regarding how much of these non-renewable resources (gold) should be extracted today, and how much should be saved for future use or for future generations. Is gold being depleted more rapidly than the optimisation level suggested by Hotelling’s Rule? In order to empirically test Hotelling’s Rule, the study was guided by previous literature that had sought to test it, namely, the previously used graphical analysis and autoregressive distributed lag (ARDL) approach to assess the applicability of Hotelling’s Rule. The results showed that there seems to be no significant relationship between interest rates and gold processes. This shows that Hotelling’s Rule does not hold in South Africa. The results of the study suggested that the gold extraction in South Africa is not following a social optimal path. The study recommended that the government come up with measures that prolong the lifespan of the gold reserves. These included research and development to promote technological innovations in the mining sector.

CURRENT TRENDS IN FISCAL POLICY DEVELOPMENT IN UKRAINE: THEORY, METHODOLOGY, PRACTICE

The work investigates the modern directions of the development of fiscal policy from the standpoint of theory, methodology, practice. It systemizes scientific approaches to the economic essence and the author's definition of fiscal policy characterized by a set of state measures to implement the concept of fiscal regulation of economic entities, providing revenue generation and financing of budget expenditures at all levels for sustainable socio-economic development. Further development of theoretical and methodological principles allowed to substantiate the conceptual basis of modern fiscal policy in ensuring socio-economic development of the state: subjects, objects, types of fiscal policy, functions, goals, objectives, principles, criteria, a fiscal mechanism (methods, levers, incentives, forms, tools, sanctions). The factors influencing the implementation of fiscal policy in Ukraine were systematized, i.e. economic, social, institutional, informational, gender, cultural, and spiritual. The work widely discloses information tools of digitalization, which allows the implementation of fiscal policy in Ukraine on the principles of transparency and digitalization. Despite the positive trends in the system of formation of state budget expenditures related to budget financing in priority areas of development, the analysis of the interdependence of fiscal policy and economic growth identifies current threats to the effectiveness of its implementation, including fiscal risks arising from under-execution of revenues, expenditures of the State budget, high level of budget deficit and public debt. Fiscal risks for the analyzed period ranged from 0.64% to 0.11% of GDP. Improving Ukraine’s fiscal policy in modern conditions should be aimed at building a modern competitive socially-oriented market economy integrated into the EU, increasing aggregate tax revenues to all levels of budgets and state trust funds; conducting a balanced fiscal policy in the medium term. The paper emphasizes that the risk management system, used to assess fiscal risks in the budget process, should be integrated into the modern concept of fiscal policy, and the improvement of methodological tools should focus on the increase of the effectiveness of fiscal policy in ensuring financial and economic security.

Legal policy and legal culture

Problem setting. The current stage of world development is characterized by the deepening of the processes of integration of political, economic, cultural life of the world. The term “globalization” has come into wide use as a characteristic of the formation of a single planetary society. Target of research is to highlight the main provisions of the dynamic system of knowledge about the information society, the legal policy of the country as a tool for legal development of modern society. Analysis of resent researches and publications. The issue of correlation between legal policy and legal culture has been analysed by V.D. Zorkin, A.V. Malko, V.A. Zatonsky, I.V. Yakovyuk and others. Articles main body. The article states that the implementation of effective legal policy at the present stage of development of Ukrainian society is one of the defining conditions for its further democratic reform, strengthening the rule of law, information society, digital competitive market economy, ensuring human and civil rights and freedoms. It is emphasized that the social dimension of globalization is studied in terms of the possibility of building a global civil society with common values and ideological attitudes, a high level of social mobility, the emergence of global culture and the globalization of public consciousness. The concept of digital society and its principles are analyzed. It is determined that legal policy is a reflection of the fact that the law itself should act as a way of building, arranging the modern world. The connection between legal policy and legal culture is emphasized Conclusions.and prospects for the development. It is concluded that legal policy, which is based on the legal culture of society and the individual, is an effective means of organization, a way of organizing the legal life of society. It is the state that must take on the roles of leader and experimenter, regulator and defender and promoter of digital transformations in Ukraine.

Positioning Koperasi Melalui Pendekatan ICA Grid Model

In order to know whether a cooperative organization is really a cooperative in a true sense, it is necessary to first look at its identity. The identity of a cooperative is a basic characteristic inherent in a cooperative since its birth. It undergoes a very long and crystalline process of growth and maturity, thus placing the cooperative as a business entity that has a positioning for its members. Cooperatives operate in a space that is limited by their identity and by the rules that apply to free market players such as corporations. Cooperatives also play in a competitive market economy and also in an environment where market conditions sometimes do not apply. Therefore for cooperatives it is important to know where their position is at certain times in an effort to maintain and secure their identity, with the aim of maintaining their existence as a cooperative.

WAYS TO INCREASE THE PROFITABILITY OF THE ENTERPRISE IN MODERN CONDITIONS

The article analyzes the essence of such important categories as profit and profitability. Factors, both external and internal, have been identified that have a large impact on these categories. The conditions of the modern market and the situation caused by the COVID-19 pandemic were considered. The main purpose of the study is to identify how the COVID-19 pandemic and quarantine restrictions affected revenue, service delivery, etc.; what measures have been taken to increase profits in business; what risks can be expected due to the re-introduction of lockdown in Ukraine. The analysis of profitability of the realized production will allow to understand, to what goods it is necessary to pay special attention at their sale or in general to withdraw from realization to reduce expenses for their manufacture considering needs of the modern market. The analysis of profitability of sales within the limits of a complex estimation of efficiency of results of the enterprise gives the chance to consider profit in several its kinds. The ratio of gross profit and revenue shows how much from the sale of products the organization can use to cover commercial and administrative costs. In this regard, increasing the profitability of the organization will be a key area of activity in today's environment, associated with the optimization of existing costs and increase projected revenues. Having made a certain analysis of the average level of profitability, it is possible to determine which products and which specific units of the enterprise create the required level of profitability, and which lead to losses. Such information is most important in a particularly competitive market economy, as financial performance will depend on specialization and concentration of production. It is concluded that increasing the profitability of enterprises in modern conditions is of paramount importance, and management needs to use all possible ways to increase this indicator, in order to increase profits, which will ultimately affect the efficiency of the business entity as a whole.The economic downturn, reduced purchasing power, lack of support (or inefficiency) from the state have led to a reduction in production, or even the shutdown of entire sectors of the economy.

EU 금융통합의 메커니즘과 제도

This study visualizes different positions of Germany and the counter-coalition of the EU members in the process of financial integration. The European Union, established by the Maastricht Treaty in 1993, has achieved an economic and monetary union (EMU), but has experienced the eurozone crisis due to lack of fiscal and financial integrations into its internal market. To deal with the instability of its economic system caused by the incomplete internal market, the EU members have pursued a banking union (BU) and a capital market union (CMU). The banking union has already established two of the three pillars, the single supervisory mechanism (SSM), and the single resolution mechanism (SRM). The third pillar, the European deposit insurance scheme (EDIS), is under way. Efforts to make CMU operational are also being discussed. Germany has assumed a critical role in the process of EU’s financial integration with some different views from the counter-Germany coalition. Germany has emphasized the importance of a network of the sovereign funds for banks resolution while the counter-coalition members favor the single resolution fund. Other members prefer discretion in SRM but Germany is for rules. And Germany desires to give the Council the decision-making power, however the counter-coalition members want to give the Commission the power. All these differences come from Germany’s emphasis on the Freiburg School’s economic principles of ordoliberalism, which view liability principle (Haftungsprinzip) very crucial for a competitive market economy.

Does Social Businesses Development Affect Bioenergy Industry Growth under the Pathway of Sustainable Development?

The Treaty of European Union (EU) sets out the EU vision for sustainable development of Europe based on balanced economic growth and price stability, a highly competitive social market economy, aiming at full employment and social progress, and a high level of protection and improvement of the quality of the environment. This led us to ask whether or not social business development stimulates the development of the bioenergy sector in the EU28 countries. Given the increasing rates of energy insecurity, environmental pollution, poverty, and unemployment, countries are switching to alternative energy sources that might promote social business development, climate change, and environmental quality. In this scenario, the bioenergy industry has received the attention of scholars and policymakers alike. The role social business development can play in the growth of the bioenergy industry remains uncertain, therefore, further investigation is necessary. This study, therefore, explores the relationships between the bioenergy industry and social business development indicators related to zero emissions, zero poverty, and zero unemployment for EU28 region countries from 1990 to 2018. Empirical evidence is based on the use of a new economic model, dynamic panel co-integration simulations (Fully Modified Ordinary Least Square, Dynamic Ordinary Least Square, and Pooled Ordinary Least Square). The results reveal a negative relationship between EU28′s bioenergy industry growth and carbon dioxide emissions, vulnerable employment, and unemployment rate, suggesting that bioenergy industry growth helps reduce pollution and unemployment. Likewise, bioenergy industry growth increases food supply, economic growth, and female employment and might be the best alternative to fossil fuels. Necessary policy related to bioenergy industry growth can be formulated, especially in achieving the sustainable development goals for social businesses.

The Evaluation Model of Legal Risk of Enterprises’ Foreign Investment Based on Data Mining

In a highly competitive market economy, data and information have become a very important economic resource for enterprises. Because of the huge and redundant data information, companies make full use of the acquired data and build a legal risk evaluation model for corporate foreign investment. This model can effectively use foreign investment companies to conduct risk assessments to ensure that the company can achieve maximum victory. Through the use of data mining technology in the legal risk assessment model of foreign-invested enterprises, the correlation between data can be quickly and efficiently mined, which is conducive to enterprises to obtain known related data mining conditions, to evaluate the results that will appear in the future, and to help enterprises to do Make correct strategic decisions.

Subjects That Shape Public Policy In The Sphere Of Circulation Of Medical Means

Implementation of an effective policy in the field of medical means circulation at the present stage of the development of Ukrainian society is one of the defining conditions for its further democratic reform, strengthening in the country of the institutions of the rule of law, competitive market economy, ensuring the implementation of human and citizen rights and freedoms.
 Any policy becomes understandable when it is understood who carries out it and what it is aimed at, i.e. defined subjects and objects of policy in society at one or another stage of historical development. This definition makes it possible to clarify the essence of political relations between subjects, as well as between subjects and objects of policy, to reveal the forms of their political behavior, methods of political activity, means of transformation of the political environment.
 The article highlights the issues concerning subjects that form the general state policy in the field of circulation of medicines. Their analysis is carried out and their main functions and tasks are determined.
 The state policy in the sphere of circulation of medicinal products is formed and implemented by the Verkhovna Rada of Ukraine, the President of Ukraine, the Cabinet of Ministers of Ukraine, the Ministry of Economic Development and Trade of Ukraine, the Ministry of Health of Ukraine, the State Service of Ukraine for Medicinal Products, professional associations of pharmaceutical workers, within the powers of which is the adoption of different types of normative legal acts (concepts, programs, provisions, procedures, rules, standards, instructions, instructions, licensing conditions, lists, codes, etc.), agreed with European and international legislation, as well as, if necessary, with other central bodies of executive power. Such standards follow, in addition to general normative legal acts, also from specialized acts on the formation of such policy.

The Never-Ending Quest for the European Fiscal Policy’s Objectives: Stability vs. Convergence or Stability and Convergence?

The aim of this paper is to analyse the permanent struggle to define European fiscal policy objectives, hence to define the corresponding structure of such a policy. To discuss the objectives of fiscal policies in the European context our starting point will be the idea that politics has to define clear objectives, then economic policies, fiscal policies included, should be designed to attain the fixed objectives. In the European context, the Economic and Monetary Union (EMU)’s main objectives have been restated in 2015: “balanced economic growth and price stability, a competitive social market economy, aiming at full employment and social progress” for all member states. Our conclusion, based on these objectives, will be that the EMU needs a fiscal policy as well to cope with asymmetric shocks as to foster real convergence among member states. Therefore, a clearer presentation of the corresponding policies with the expected outcomes on the member state level has to be added. This has to be achieved through an improved communication policy to convince European citizens that the European integration is not just about maintaining peace in Europe but that a real improvement in living conditions can be achieved. (JEL E61, E62, F15, F55)

Can Scharpf be proved wrong? Modelling the EU into a competitive social market economy for the next generation

AbstractCriticism of the EU’s social deficit has become more vivid than ever following the socially regressive handling of the 2008–10 financial and debt crisis. In 2010, Fritz Scharpf famously argued that the EU ‘cannot be a social market economy’ owing to its institutional architecture, legal features, and collective action issues. The COVID‐19 pandemic has nevertheless led to a new agenda combining investment, social concerns, the green transition and more fiscal solidarity. However, a lot remains to be done, it is argued, to bridge the social gap. A three‐pronged model is outlined to conceive of the EU’s role in enhancing national, inter‐national and transnational social cohesion. The paper furthermore points to where the EU’s action must be intensified to make significant progress on the way to a competitive and social market economy. In many respects, the hard political battles remain to be fought.