Economic Development Of Enterprise Research Articles

THE PARADIGM OF MICRO ENTERPRISES AS ECONOMIC AND SOCIAL ENTERPRISES IN PAKISTAN (CASE STUDY: PESHAWAR URBAN MARKET)

Micro enterprise in Pakistani cities is a survival economy for those who do not have a chance to enter the labor market as well as for those who desire to shape their destiny as an entrepreneur. In the last century, access to economic life through microenterprises was possible even without or at a very low level of training. In today’s world of specialization where micro enterprise not only play significant role in the form of entry to business world but also prove to serve as input provider to small, middle and large scale enterprises, and in addition to this micro enterprises have also become capable of innovation. In this context micro enterprises have started providing training and skill to the new entrants in the form of apprenticeship because hiring of skilled labor increases per unit cost of production. Hence training, apprentice and production of skilled labor at micro enterprises have not only strengthened the role of micro enterprises as a factor for economic development, but have also become an effective tool for social institutions. Hence this research is carried out with the objective to determine the role of micro enterprises in economic development and to assess the apprenticeship at micro enterprises as social institutionalization. Data was collected from micro enterprises about the indicator of economic success and target group for social institutionalization were apprentice working at micro enterprises in Peshawar. The analyzed data showed significant contributions of micro enterprises both in economic development and social institutionalization.

Calvinizam in Switzerland and Coorelation with Enterprise Economic Development

Calvinizam in Switzerland and Coorelation with Enterprise Economic Development

THE PARADIGM OF MICRO ENTERPRISES AS ECONOMIC AND SOCIAL ENTERPRISES IN PAKISTAN (CASE STUDY: PESHAWAR URBAN MARKET)

Micro enterprise in Pakistani cities is a survival economy for those who do not have a chance to enter the labor market as well as for those who desire to shape their destiny as an entrepreneur. In the last century, access to economic life through microenterprises was possible even without or at a very low level of training. In today’s world of specialization where micro enterprise not only play significant role in the form of entry to business world but also prove to serve as input provider to small, middle and large scale enterprises, and in addition to this micro enterprises have also become capable of innovation. In this context micro enterprises have started providing training and skill to the new entrants in the form of apprenticeship because hiring of skilled labor increases per unit cost of production. Hence training, apprentice and production of skilled labor at micro enterprises have not only strengthened the role of micro enterprises as a factor for economic development, but have also become an effective tool for social institutions. Hence this research is carried out with the objective to determine the role of micro enterprises in economic development and to assess the apprenticeship at micro enterprises as social institutionalization. Data was collected from micro enterprises about the indicator of economic success and target group for social institutionalization were apprentice working at micro enterprises in Peshawar. The analyzed data showed significant contributions of micro enterprises both in economic development and social institutionalization.

Indicative assessment of progressive economic development of manufacturers of hotel and restaurant enterprises under influence of capital

The article is devoted to the development of indicators of progressive economic development of factors of production and coefficients of sustainable economic development of the hotel and restaurant business based on the reserve growth of resource potential. The calculation of progressive development indicators is based on determining the extent of the impact of costs by directions (types) of capital investments on improving the efficiency of production and commercial activity, and serves as a tool for managing the progressive growth and sustainable economic development of enterprises of the hotel and restaurant sphere. The paired regression models of the dependence of factors of production (consumption of production resources) and the level of investment and innovation costs of enterprises of the hotel and restaurant industry have been presented in the article, by which the laws of quantitative interaction of the resultant and influencing economic indicators of the estimated processes are explained in mathematical form, and on the basis of them the indicators of the progressive factors of the production are calculated. The impact of capital expenditures on improving the material and technical and technological base of the entity. It has been found that indicators of progressive development (???? 01 2 3 ) determine the degree of impact of a particular type of capital expenditure (Ij) on the development of factors (Ki) and characterize the rate of dynamic growth of efficiency and reduction of the expense of operating activity of the enterprises of the hotel and restaurant type at the expense of carrying out investment-innovation activity. The obtained indicators of progressive and reserve dynamic economic development factors determine the coefficients of sustainable economic development of the enterprise, based on the regularities of dynamic changes of the studied processes and take into account the projected directions and rates of economic efficiency of production and commercial activity of enterprises of the hotel and restaurant economy under the influence of reserve potential. The obtained results make it possible to predict and plan the volume of investments in the areas of investment-innovation activity, as well as the level of growth of efficiency of activity on its basis, which, in turn, allows for further formation of the economic growth strategy and model of management of sustainable economic development of the enterprise.

Evaluation of reserve economic development of production potential of the enterprise of the hotel and restaurant industry in Dnipropetrovsk region

The purpose of the research. The purpose of this work is economic and mathematical modeling of features of interaction of production resources at the hotel and restaurant business and assessment of reserve development of their potential on the basis of coefficients that reveal the possibility of increasing the economic efficiency of the resource consumption process. Methodology. The methodology of the research is based on fundamental principles of enterprise economics, econometrics, mathematical statistics, as well as publications of domestic and foreign scientists on the problems of economic development of enterprises. To analyze and evaluate the reserve economic development of the productive potential of the hotel and restaurant business based on the coefficients and indicators of economic development of factors of production used general scientific and special research methods, including grouping, statistical, stochastic, correlation-regression analysis, methods of economic and mathematical modeling, mathematical statistics. Tabular technique was used to clearly present the results of the study. Results. In the work by means of economic and mathematical modeling, models of multiple regression of production activity, variable costs and production efficiency are constructed. On the basis of the mathematical equations obtained, the regularities of the mutual influence of factors of production are explained, the estimated coefficients and indicators of the reserve economic development of the production potential of the hotel and restaurant enterprise are determined. With the help of the calculated estimation parameters, the power of indirect and direct action of a particular factor on the efficiency of the business entity's performance, the contribution of the factor to the cumulative influence of all factors, the possibility of revenue growth due to the development of resource potentials have been established. By interpreting certain estimated coefficients, a mathematical formula is proposed to calculate the indicators of a reserve economic development of an enterprise, which allow establishing reserves of growth of a productive indicator due to the development of a certain resource, taking into account the share of its contribution to the integrated effect of factors. On the basis of the models of multiple regression of production activity of the enterprises of the hotel and restaurant industry the regularity of mutual influence of the studied economic indicators is established, the coefficients and indicators of economic growth and reserve development are calculated, as well as their quantitative parameters by which the differentiated and integrated influence of the elements of the investigated elements is determined, an assessment of the reserve economic development of production potential. Practical meaning. The proposed methods of analysis and evaluation of indicators were used in the formation of the organizational structure of the system of management of economic growth and development of the enterprise. The prospects for further research are to create a model for managing the sustainable economic development of hotel and restaurant businesses.

Discussion on Effective Strategies for Improving Enterprise Operation and Management Abilities

In the current socialist market economy, if an enterprise wants to grow and develop, it must do all kinds of management for its enterprise, and the most important thing for strengthening management of enterprises is to strengthen their own operation and management abilities. Whether it is financial management, management of personnel efficiency, or management of talents, it is necessary to protect from the infrastructure, so as to fundamentally improve the economic benefits of the enterprise, and vice versa if it is not properly managed, it will affect the development of the enterprise. Therefore, improving the operation and management abilities of enterprises at present is an important factor to promote the economic development of enterprises. This paper analyzes the management problems of enterprises and the definition of enterprise operation and management abilities, and analyzes how enterprises can reform and innovate, thus strengthening the operation and management abilities and economic benefits of enterprises.

KEY PROBLEMS OF STAFF MANAGEMENT AT ENTERPRISES AND THEIR SOLUTIONS WAYS

The article is devoted to the research of the problem of staff management in modern enterprises. The impact of efficient human resource management on economic development of enterprises is considered. The peculiarities of the formation of the management system of labor resources of the organization in the conditions of uncertainty of demand and sales of goods are revealed.

IMPLEMENTATION OF THE POLICIES ON STUDENT AFFAIRS AND SERVICES AMONG STATE UNIVERSITIES AND COLLEGES IN THE ISLAND OF SAMAR: FOR PROGRAM ENHANCEMENT

This study assessed the status of implementation of the policies on student affairs and services among state universities in the Island of Samar, as basis for program enhancement. This determined the status of implementation of the following student welfare programs and services, vis-à-vis the policies of SUC’s in Samar Island with respect to admission, career and placement service, economic enterprise development, food services, guidance and counseling, health services, information and orientation service, international student service, research, monitoring and evaluation of student affairs and services, safety and security, scholarship and financial assistance, services of students with special needs, student discipline, student handbook and student housing. The four (4) SUC’s in Samar Island were selected as the locale of this study. These were the University of Eastern Philippines Main Campus (Catarman), North West Samar State University Main Campus (Calbayog City), Samar State University Main Campus (Catbalogan City) and Eastern Samar State University Main Campus (Borongan City) with the university presidents, deans/directors of the Student Affairs and Services, personnel, and students as respondents. Frequency counts, percentages, and weighted mean computations were used to analyze the descriptive data obtained from the respondents of the study who were chosen through complete enumeration for presidents, deans/directors and personnel and random sampling for the students, respectively. The status of implementation of the student welfare programs and services as well as student development program and services in different state universities in the Samar Island, were both rated as “very satisfactory” which means that these programs and services were much implemented. Hence, an action plan was prepared for further enhancement of the student affairs and services in state universities as an offshoot of this study.

Study of economic development reserves of the hotel enterprises and restaurant industry under the systems analysis method

The purpose of the research. The purpose of this paper is the determination based on the method of system analysis of reserves of economic development of the enterprises of hotel and restaurant services by constructing multiple regression models of industrial and commercial activities and calculation on the basis of factors that characterize development reserves resource potentials and directions of growth of efficiency of business entities. Methodology. The methodology is based on the fundamentals of business Economics, econometrics, mathematical statistics, and publications of domestic and foreign scientists on the problems of economic development of enterprises. To identify, assess and substantiate the results of the study used methods of theoretical justification, grouping, economic-mathematical modeling, factorial, statistical, stochastic, correlation and regression analysis, etc. Results. In the work on the basis of the objective function the model of multiple regression of industrial and commercial activities, which mathematically described the communication patterns and quantitative relationships of its elements (factors or input intensities), defined a differentiated and integrated the impact of costs of operating activities on the profitability of hotel and restaurant management. By calculating βKi-coefficients set share changes standard deviation values of the resultant variable due to changes in relevant economic indicators regression equation on the value of its standard deviation. According to the calculated βKicoefficients that characterize the degree of a variation factor parameter defined by reserves economic development and possibilities of improving the productive performance of enterprises, as reflected in economic and mathematical models. It is proved that the increase in the costs of labor resource development and administrative expenses increases the level of income of the enterprise, and the increase of material costs and expenses on the basic production funds have a negative impact on the efficiency of functioning and, consequently, the development of economic entities. It has also been found that the largest reserves for raising the income level of the hotel and restaurant business are laid down in the cost of OVF and administrative and marketing activities. Practical meaning. The proposed research method-ology was used in forecasting and planning the results of the enterprises. The prospects for further research are to identify trends and to form an effective mechanism for sustainable economic development of hotel and restaurant businesses.

Impact of Microfinance on Multi-dimensions of the Women Empowerment: A Case Study of Southern Sri Lanka

This paper examines the impact of microfinance programmes on women empowerment of borrowing households of Southern Province in Sri Lanka. The women empowerment is one of major target variables in Microfinance programmes which are intended to benefit low-income people and better way to achieve Millennium Development Goals including reducing poverty, supporting gender equity. The study is based on the sample survey of 405 microfinance recipients of four national level leading institutions: Thrift and Credit Cooperative Societies, Samurdhi Banking Societies, Ruhuna Development Bank and Sarvodaya Economic Enterprise Development Societies for 2017.For analysing purpose, a comparison group has been selected from the existing recipients whom membership duration with is no longer than one year to compare their empowerment capabilities with that of existing members whom membership duration with microfinance programmes is longer than one year. Three dimensions of women empowerment: economic, socio-political and well-being of the household are used for assessing the impact. Based on data analysis, the study found that outreach of microfinance towards women is remarkably higher and it has benefited to increase the number of women ownership-business in the Province. However, these women controlled enterprises are not growing but stable and evolving with the challenge of sustainability. Integrating these findings, in regional context of Sothern Sri Lanka, it can be concluded that although the microfinance has benefited the borrowing women to enhance the well-being of their households, other two dimensions of women empowerment: economic and socio - political have not been reach as it was expected.

Discussion on Environmental Protection and Enterprise Economic Development

2018 is the 40th anniversary of the reform and opening up. Today, people’s lives are getting richer and the country is becoming stronger and stronger. These are the results of the rapid development of social economy, and the development of enterprise economy has made an important contribution to the development of social economy. At the time of rapid economic development, the natural environment has been destroyed and polluted, which is caused by the lack of adequate attention to environmental protection in the process of enterprise development. Environmental protection has become a social problem that needs to be solved urgently nowadays. It is also the responsibility and important motive force that enterprises should have. This paper discusses environmental protection and enterprise economic development from the causes of environmental deterioration, the relationship between environmental protection and enterprise development, and the obstacles to the implementation of enterprise environmental protection management.

INNOVATIVE ENHANCEMENT OF THE PERSONNEL AS A BASIS FOR THE ECONOMIC DEVELOPMENT OF THE ENTERPRISE

The role of innovative susceptibility of the personnel of the company as the main factor of innovation production and the basis of modern economic development of enterprises of Ukraine is determined. The approach to management of economic development of the enterprise is formed on the basis of increase of innovative susceptibility of the personnel of the enterprise. Innovative susceptibility of the personnel of the company is defined as a characteristic of employees, which reflects their activity in innovation activities to ensure a certain level of competitiveness and obtain high finite financial and economic outcomes. It is determined that the formation and development of innovative susceptibility of the personnel of the enterprise is provided at the expense of three main components: educational-professional level, motivation of personnel and working conditions. The formed groups of factors of formation of the components of the innovative susceptibility of the personnel, namely: the level of education, qualification level, personnel experience, innovative values and ability to development, level of communication, flexibility and adaptability of the personnel influence the educational-professional level; the motivation of the staff is influenced by - the level of satisfaction with material remuneration, the level of satisfaction with the content of work, the level of satisfaction with the status of the enterprise, the level of satisfaction with the recognition of the results achieved, the level of satisfaction with the conditions of work; the working conditions are influenced by the technological and technological level of the enterprise development, the level of information of production processes, management and marketing activities, ergonomic conditions at workplaces, the level of development of organizational culture, moral and psychological climate in the team. An assessment of the innovative susceptibility of the personnel of the enterprise is proposed to be carried out using the integral index of innovative susceptibility of the personnel of the enterprise. To select the direction of personnel development and the formation of measures to increase the innovative susceptibility of the personnel of the enterprise, it is proposed to use a cube of innovative susceptibility of the personnel of the enterprise. An approach was also developed to monitor the innovative responsiveness of the personnel of the company, which will help to timely identify shortcomings in the field of innovative susceptibility of the personnel of the enterprise and develop measures to improve the efficiency of the use of labor potential

Economic development of industrial enterprises: motivation-oriented management methods

The article explores the main approaches to the concept of “motivation-oriented management”. The importance of applying motivation-oriented management for the economic development of industrial enterprises is proved. It is determined that the economic development of enterprises is an extremely important factor for the development and competitiveness of the state as a whole. It is noted that in present unstable economic conditions, an innovative approach is necessary for the development of industry. The main and secondary processes that arise in the process of introducing motivational activities in the enterprise are described. It is noted that when managing the economic development of an enterprise, one should focus only on improving its condition, which should be confirmed by certain achieved results. It is indicated that the performance indicators of motivation affect all economic indicators of the enterprise, in particular the level of financial development of industrial enterprises. Conclusions are made regarding the feasibility of introducing motivation-oriented management at Ukrainian enterprises for their economic development.

MECHANISM OF STRATEGIC MANAGEMENT BY FLEXIBLE ECONOMIC DEVELOPMENT OF IRON AND ORE ENTERPRISES

The article is based on the idea of forming the conceptual foundations of strategic management of flexible economic development of iron and ore enterprises. It is based on the definition of the optimum size of sales of products on the domestic and foreign markets, taking into account their perspective and ensuring the maximum possible level of profitability of business entities. The article emphasizes that today almost all domestic business entities operate in a crisis or after-crisis syndrome. It is noted that economic crises occur cyclically, but each time the depth of the crisis becomes larger, and the post-crisis period is ever greater. As a result, all enterprises and individuals who are experiencing the consequences of such crises are more and more difficult, and for the post-crisis period, more and more diversified resources are spent that could be directed to projects for their own development. It is determined that the main obstacles of flexible economic development of the enterprise are the high degree of deterioration of fixed assets, low productivity, low quality of personnel, imperfection of the system of pricing on products, low investment activity of enterprises, etc. The key principles of the system of strategic management of flexible economic development of iron and ore enterprises are formed. It is proved that in today's world economy the importance of reformatting the structure and content of the strategic management system with flexible economic development of industrial enterprises and adapting their business directions to the conditions of transformational transformations of modern competitive markets becomes increasingly important. The mathematical model describing the system of division of manufactured products for realization on several markets is developed. It is found out that the classical approach to solving such a task, which is to maximize profits, is not absolutely correct in this case. It is shown that the solution of this task is to maximize the profit from sales with the simultaneous preservation of the minimum allowable volumes of sales of products in promising markets, provided they provide the minimum reasonable profitability. It is noted that in the strategic planning it is necessary to implement a certain part of own products in the markets which are not currently the most profitable, but in the long run may have a decent place among others for the particular enterprise. It is determined that the problem of optimization is to calculate the specific volumes of products that need to be implemented in each of the markets. Taking into account the current transformation of market space and the need for constant adaptation of strategic management methods, the article proposes approaches to the formation of a complex system of strategic management of flexible economic development of iron ore enterprises.

Формування адаптивної стратегії економічного розвитку підприємств в контексті євроінтеграції

Purpose. The paper purpose is to research the ways of the formation of adaptive strategy of the economic development of enterprises in the context of integration and globalization processes. For this goal the following main tasks were set and solved: - the position of Ukraine in the world ranking rating according to the Global Competitiveness Index is researched; - the range of negative affection factors of economic development of domestic enterprises is determined; - the attributive filling of the adaptive strategy of economic development of the enterprise is deepening; - the scheme of adaptive concept of economic development of the enterprise in the conditions of European integration challenges is given. Design/methodology/approach. For the achievement of the mentioned purposes the general scientific methods of cognition have been used: comparison, theoretical substantiation, methods of generalization and systematization, comparative method, method of analysis and synthesis. Findings. Тhe subject of the study is theoretical and methodological aspects of the formation and implementation of an adaptive strategy of economic development of enterprises. The relevance of the question researched is coursed by the urgent need to increase the efficiency of economic development of enterprises referring to the decisive role of adaptive facilities of the enterprise in the development processes of the national economy. Today, enterprises are the key element of the national economy, whose economic development defines the level of material security of the country, satisfaction of the needs of the consumer sector, the growth of the national economy as a whole and the level of its integration into the European Union. Despite of a number of negative tendencies of European integration processes, Eurointegration will outline strategic priorities for the global economy development in the 21st century. As a conclusion, the obligatoriness of the implementing adaptive strategy of economic development of the enterprise is substantiated, which will ensure the implementation of the priority goals of its economic development in the European integration context. Research limitations/implications. The attributive filling of the adaptive strategy of economic development of the enterprise is deepened and the scheme of its realization is given in the research. Originality/value. Such knowledge will help to provide the implementation of the priority goals of economic development of the enterprise in the context of European integration. The prospect of further research is the development of a mechanism for implementing the economic potential of enterprises on the adaptability basis, that coursed by scale up of European integration processes and the integration of Ukraine into the global economic system.

ПІДПРИЄМНИЦЬКА ДІЯЛЬНІСТЬ КНЯЗІВ ІЗ РОДУ САНГУШКІВ У XIX – НА ПОЧАТКУ XX СТОЛІТТЯ НА ВОЛИНІ

The article deals with the entrepreneurial activity of Sangushki in Volyn, first of all, their contribution to the industrial development of the region, the application of advanced technologies in their estates, and the peculiarities of the management of the family’s representatives and their enterprises. The branch affiliation of the factories of their Slavutsky ordination and methods of increasing the efficiency of work on them is considered. The place of enterprises of the Sangushki family in the structure of industry of Volyn province, the contribution of the princes in stimulating expansion of the network of financial and credit institutions in the region is described. The place of Sangushki at the time of the financial-industrial circles of the Ukrainian provinces of the Russian Empire in the 19th and the beginning of the 20th centuries was highlighted. The activity of the Sangushko princes is considered in order to reorganize the landowner's latifundias for their transformation into modern agrarian enterprises. The influence of political events in Ukrainian provinces on the economic development of enterprises owned by representatives of this kin is highlighted. The main sources of income of Slavuta ordination in the late nineteenth and early twentieth centuries are described. The author made a wide coverage of economic development in the vicinity of the princes Sangushko during the nineteenth and early twentieth centuries. It was noted that the main sources of income at the beginning of the nineteenth century were agricultural products (grain, fruits, vegetables, cattle, and forest), then, due to the use of modern technologies, mechanization of production using steam engines, processing of own products, obtained here at the end of the XIX century, Sangushkos managed to create an economically strong company with diversified sources of profit, since a significant part of the products was processed by local factories (paper, candle, soap, sugar, cloth, beer pitch, lumber, porcelain, refined) and distilleries, mills. The main resource base for the success of the princes as entrepreneurs served large land masses that they owned. Significant role in the achievement of economic success of Sangushkos played the application of modern technologies and methods of production, withdrawal from the traditional system of using serf labor, attracting foreign specialists. Sangushkos also created enterprises that produced the products needed to service their enterprises and the local population, among such iron ore, vinegar and paint plants. In addition, in order to stimulate the development of trade and business in the native land, Sangushkos established a system of credit pay offices, which provided loans to local residents, with preferential treatment for those who traded and serviced the needs of the population (for shoemakers, bakers, barkeepers). In addition, Sangushkos were involved in the creation of the Slavuta Commercial Bank, which served the needs of not only local residents, but even foreigners. Sangushkos also managed to open businesses that did not directly engage in the production of goods and served the needs of the population, among such the author mentioned medical institutions. For the sale of products Sangushkos actively participated in local fairs, signed contracts for the supply of products to the markets of cities of the central provinces of the Russian Empire and abroad. The author reviews the historiography devoted to the issues of entrepreneurship development in the 19th century on the territory of the Right-Bank Ukraine and in particular among representatives of the Polish-Lithuanian nobility, including representatives of the Sangushkos family. Also, the researcher used in the study the archival materials and the results of local lore explorations devoted to studying the history of the Sangushko family in Volyn. The Polish revolts of 1830-1831 and 1863-1864, economic crises in the Russian empire at the end and the beginning of the 20th century, as well as fires, which caused significant damage to the city and the buildings of enterprises, influenced negatively the economic development of the enterprises of the Sangushkos. In general, a direct active participation in the economic life of the princes of Sangsushko turned their estates and town of Slavuta into one of the main industrial centers of Volyn at the beginning of the 20th century.

Marketing Tools for Improving Enterprise Performance in the Context of Social and Economic Security of the State: Innovative Approaches to Assessment

The paper summarizes the arguments for a scientific discussion on solving the problem of improving the efficiency of the enterprise in the context of social and economic security of the state. The main purpose of the study is to evaluate the effectiveness of the enterprise and on its basis to identify innovative measures and methods, effective marketing tools to improve it. The systematization of literary sources and scientific approaches showed that, based on a comprehensive assessment of the activity of the enterprise, there remained several unsolved problems regarding the improvement of the social and economic security of the state. The urgency of solving this scientific problem lies in ensuring social and economic security that is an extremely important problem in the current conditions of the country’s development. Methodical tools of the study are such methods as a logical generalization, systematic, comparison, mathematical calculations, graphical, method of expert assessments. The study period is 2014-2018. The object of the study is the sanatorium and resort enterprise since the social and economic security of the state on the micro-level is formed based on the activity of such enterprises. The research of the identified problem in the paper is carried out in the following logical sequence. The significance of the activity of enterprises as an integral part in shaping the country's economy in market conditions is outlined. The important role of domestic enterprises in ensuring the employment of the country's population, the formation of social relations and support of social stability, the social and economic security of the state at the micro-level is noted. The problems of provision of enterprises economic development as a component of socioeconomic security of the state in need of research are highlighted. The list of risks, which domestic enterprises are subjected to in daily activity, is described. It is noted that the economic development of enterprises is one of the components of securing social and economic security of the country at the micro-level. In this context, the theoretical basis for the formation of economic security of enterprises is investigated based on the evaluation of the efficiency of the activity on the example of sanatorium and resort institutions. An evaluation of the efficiency of activity of sanatorium-resort enterprises from the standpoint of the economic entity efficiency based on the calculation of integral index and directly by consumers with the help of an expert method is conducted. Based on the estimation of the integral coefficient of efficiency of the sanatorium and resort services provision on the example of the past five years, the unevenness of the fluctuations of the main economic indicators of activity, reduction of the coefficient of financial and economic activity efficiency has been proved. Based on surveys of consumers, the average mark of the effectiveness for the provided sanatorium services was set at 3.7 points, which at the five-point scale proves the need for improving the activity of sanatorium and resort facilities under present conditions and developing special events using effective instruments stimulating the development of such enterprises. To significantly improve the efficiency of sanatorium and resort enterprises and the impact on the improvement of social and economic security in the country, a set of actions and marketing tools based on the innovative technologies at the enterprise, regional and state level. The results of the conducted research can be used by sanatorium and resort establishments in practical activity and public authorities, local self-government bodies at the level of regions and territorial communities in developing projects of development of territories and taking measures to ensure social and economic security in the country. Keywords: economic security, efficiency, measures, innovative approaches, marketing tools, assessment, sanatorium and resort establishments, social and economic security.

Role of Micro, Small and Medium Enterprises in Economic Development

Micro, Small and Medium Enterprises (MSMEs) are the largest segment of an economy. They accounts for 25 percent of Bangladesh GDP and employed 87% of civilian population. MSMEs are playing a very important role in employment generation, resource utilization and income generation to a large segment of the society. Therefore; they are vital for economic development of any country. As a result the government of Bangladesh provided significant importance to MSMEs in National Industrial Policy 2016, SME Policy Strategies 2005 and upcoming drafts of both the policies. Bangladesh Small and Cottage Industries Corporation (BSCIC) was established in 1957, Small and Medium Enterprise Foundation (SME Foundation) was established in 2007 and a significant number of development projects were implemented to facilitate establishment and promotion of MSMEs in Bangladesh.

Economic development enterprises: Theoretical aspects of definition and assessment of impact factors

Economic development enterprises: Theoretical aspects of definition and assessment of impact factors

Diagnosis of the crisis possibility and its effectiveness to maintain the financial stability of entrepreneurs

Introduction. Transformational changes in the national economy, its high level of dependence on the development trends of developed countries, and unstable financial situation require the search for effective tools for identifying and minimizing regulatory, financial, tax and reputational risks in business entities. The diagnosis of probability of crisis and bankruptcy is an effective tool for maintaining the financial stability of enterprises. Despite the large number of researchers and their achievements, the large number of methods and models for predicting the likelihood of bankruptcy, this problem is relevant, because no model can predict such external factors as political instability, natural disasters, worsening social- economic situation, or even the global economic crisis, as well as internal factors such as poor planning or inefficient management of the enterprise. Bankruptcy forecasting models (E. Altman model, model R and Tereshchenko model) have many disadvantages besides many advantages. The enterprise should choose a model that takes into account all the peculiarities of the economic development of the enterprise and trends in the markets in which it is presented. In addition, the assessment of bankruptcy should be performed not only in cases where the enterprise already has crisis phenomena, but also in order to prevent them from being diagnosed in a timely manner and preventing bankruptcy. Method (methodology). Methods of analysis of structure and series of dynamics were used in the research of the current state and tendencies of development of the business sector. Investigation of existing approaches to analyze the likelihood of a crisis in the enterprise and to identify the most effective of them was carried out using methods of synthesis, analysis and systematic approach. The study of the probability of bankruptcy at the enterprise is based on discriminant analysis (using the four-factor model R, five-factor Altman model, six factor Tereshchenko model). Results. Under the conditions of economic instability in Ukraine, there is a need to improve the financial stability and solvency of Ukrainian enterprises. This is possible by timely diagnosis of the likelihood of a crisis and, as a consequence, bankruptcy of enterprises. It is advisable to carry out the diagnostic process using the following stages: rapid analysis of early signs of crisis at the enterprise; economic evaluation and analysis of financial statements of the enterprise; analysis of the financial condition of the bustle of management; rating of enterprise activity; discriminant analysis of the probability of bankruptcy at the enterprise. Of the many existing models, the most effective models are proposed to be used: Altman model (in three modifications – for joint stock companies, for private companies that do not place shares in the stock market, for non-productive enterprises), model R and the Tereshchenko model. Bankruptcy forecasting models, in addition to their many advantages, also have their disadvantages. So the company should choose a model that takes into account all the peculiarities of the enterprise's economic development and trends in the markets in which it is presented. In addition, the assessment of bankruptcy should be performed not only when the enterprise is already in crisis, but also for financially sound enterprises in order to diagnose crisis events in a timely manner and prevent bankruptcy.