Individual Business Research Articles

FORECAST IFRS FINANCIAL STATEMENTS IN CONDITIONS OF MARITIME

Extremely difficult conditions for the management of domestic enterprises due to large-scale military aggression by russia have led to extremely uncertain environmental conditions under the influence of unpredictable dynamics of events of a militarypolitical nature. Enterprises face the task of finding opportunities to implement and apply planning and forecasting with further improvement of forecasting methods and budgets to increase business activity in the future. The purpose of the study is to substantiate the feasibility and choice of methods fo r forming indicators of projected financial statements in accordance with IFRS in order to increase the investment attractiveness of enterprises. Projected financial statements as a source of information data for the development of enterprise development plans and assess the impact of management decisions on performance and financial condition provides the formation of information about projected indicators for investors. Against the background of Ukraine's future candidate status for EU membership, the urgency of preparing consolidated projected financial statements based on the requirements of IFRS wil l increase. The basic aspects of the formation of projected financial statements in accordance with IFRS, which allows to form an array of information about the financial results of the enterprise and possible trends in its economic development. In order to increase the investment attractiveness of individual business entities in the future, the importance of preparing forecasted financial statements according to IFRS with a detailed description of the business environment in conditions of hostilities or their absence has been proven. The key aspects for the formation of the indicators of the forecasted financial reporting in 2023 have been identified: a review of approaches to reducing the utility of assets, in particular financial ones, a detailed disclosure of financial risks, taking into account the factors of martial law, a search for reserves and an assessment of the prospects for intensifying business activity.

The role of local government in marketing small city retailing: Examining the gap between perception and reality

ABSTRACT The role of local government in ensuring cities and town centres are attractive options for shoppers is well documented in the international literature. However, there is a paucity of research on the role and responsibility of local governments in tackling the complex marketing issues facing town and city retailing, particularly in regional and rural areas in Australia. Australian retailing differs markedly from retailing in the UK, U.S.A and Europe in a number of ways including fewer large, global retail stores, fewer large shopping centres and malls, and a slower uptake of online shopping. This paper reports a set of findings from a larger published study on consumer and retailer perceptions of the role of local government in the marketing of city-centre shopping and improving the overall experience for visitors in a regional Australian city. This research was commissioned by the local council. Traders and shoppers (N = 367) were surveyed on their perceptions of various aspects of city shopping. Qualitative data were analysed using the software program Leximancer to extract themes and concepts regarding specific actions the local council should take to improve city shopping and market the CBD to better attract shoppers and visitors. Findings show four main themes requiring council attention, as well as four additional and important retail-related factors identified by participants as the responsibility of the local city council, but which are actually not within the remit of local government. The findings of this study extend existing literature on town centre and small city retail marketing and are valuable for local governments, business associations, marketing organisations and individual business owners. Findings will assist efforts in two crucial activities: the marketing of cities and towns as attractive destinations for shoppers and visitors and improving and enhancing communication between councils and key stakeholders about the role of local government in marketing city-centre retail places

Quantifying Social Value Information Using Analytical Hierarchy Process Method

This study aims to develop a methodology that can quantify social value at the practical level, considering that it is difficult to quantify the social value information of individual businesses despite the importance of social value both in practice and academia. As people’s living standards rise, the gap between rich and poor has widened, and this phenomenon is broadening the scope of the social welfare projects that central and local governments must carry out. In this context, quantifying the social value information that each project will have is extremely important. However, the reality is that the social value quantification work undertaken in academia has up until now been carried out on an abstract level, because the methodology has not been established. In addition, established social value quantification methodologies embody a problem: it is difficult for policymakers to utilize them, because they represent difficult processes that, in respect of each individual project, require large amounts of professional knowledge, data, time and money if they are to be carried out satisfactorily. Against this background, this study aims to present a single social value quantification methodology that policymakers can employ easily in all circumstances. If the social value quantification method presented in this study, the Analytical Hierarchy Process (AHP) method, is properly applied, then, since it is information and data -based methodology, it should prove meaningful as a practical alternative to existing methods.

Different people, different pathways: Human capital redeployment in multi‐business firms

AbstractResearch SummaryMulti‐business firms redeploy human capital to strengthen individual business units. However, we know little about the antecedents of such redeployments and their effects on unit outcomes. Contributing to the resource redeployment and strategic human capital literatures, we test the relationships between parent–unit industry relatedness, the direction of redeployment (parent‐to‐unit and unit‐to‐parent), the type of human capital, the likelihood of redeployment, and post‐redeployment unit closure. Using Norwegian population‐level microdata of spinouts, we find that parent–unit industry relatedness increases the likelihood of human capital redeployment and that this effect is stronger for generalists than for specialists. Further, we find that parent‐to‐unit and unit‐to‐parent redeployment of generalists and specialists have distinct effects on unit closure, largely because of differences in post‐redeployment unit performance.Managerial SummaryFirms with multiple business units often transfer employees between units to strengthen them. However, we do not know which employees are more likely to be sent and which employees, if any, affect the receiving unit's survival and performance. Analyzing over 9000 spinouts in Norway between 2004 and 2015, we find that employees are more likely to be sent when the parent and the unit are in related industries. We further show that employees with specialized professional knowledge are sent regardless of relatedness, while generalists are sent when industries are related. Regarding post‐transfer unit survival, we find that parent‐to‐unit and unit‐to‐parent redeployment of generalists and specialists have distinct effects on survival, largely because of differences in the impact on post‐transfer unit performance.

Comportamento empreendedor e estratégia: Uma revisão sistemática da literatura

Study objective: identify the gaps and theoretical axes of international scientific production related to the Entrepreneurial Behavior (EB) of the individual business owner as well as the strategies adopted, in different contexts, in addition to providing insights for future research. Methodology/approach: descriptive and qualitative study, based on a systematic review of 56 articles collected in June/2021 in the Scopus and Web of Science databases, with the support of the StArt tool, and the content analysis with aided by the Atlas.ti software. Main results: consolidation of the methodological profile of the studies and the topics addressed, identifying that both the EB and the strategy have fragmented definitions, even after numerous research. There is a positive relationship between EB and strategy, and the EB influences decision making and contributes to raising organizational performance. The success of an enterprise can therefore be determined by the ability and speed to respond effectively to changes in context. Theoretical/methodological contributions: advancement of research in the fields of entrepreneurship and strategy, with the identification of EB categories and strategies adopted (especially with regard to the understanding of EB and its influence on strategy), and consolidation and recommendation of a future research agenda. Relevance/originality: the theoretical articulation between entrepreneurship and strategy focuses on the EB, in the search for opportunities and competitive advantage, which are indispensable for business growth. Social/management contributions: contribute with managers and entrepreneurs in the identification of behavioral issues and strategic choices adopted in the most diverse contexts, including the sustainable development of organizations.

Network-based measures of systemic risk in Korea

The authors estimate systemic risk in the Korean economy using the econometric measures of commonality and connectedness applied to stock returns. To assess potential systemic risk concerns arising from the high concentration of the economy in large business groups and a few export-oriented sectors, the authors perform three levels of estimation using individual stocks, business groups, and industry returns. The results show that the measures perform well over the study’s sample period by indicating heightened levels of commonality and interconnectedness during crisis periods. In out-of-sample tests, the measures can predict future losses in the stock market during the crises. The authors also provide the recent readings of their measures at the market, chaebol, and industry levels. Although the measures indicate systemic risk is not a major concern in Korea, as they tend to be at the lowest level since 1998, there is an increasing trend in commonality and connectedness since 2017. Samsung and SK exhibit increasing degrees of commonality and connectedness, perhaps because of their heavy dependence on a few major member firms. Commonality in the finance industry has not subsided since the financial crisis, suggesting that systemic risk is still a concern in the banking sector.

CAPACITY BUILDING TOT (TRAINING OF TRAINER) PENERAPAN APLIKASI KEUANGAN SIAPIK PADA KOMUNITAS UMKM BREGAS (BREBES, TEGAL DAN SLAWI) DALAM RANGKA OPTIMALISASI PEMBUKUAN UMKM YANG APLIKATIF DAN AKUNTABLE

Siapik is a financial information application system that recording every financial transaction for SMEs business. This application can record simple types of transactions for individual businesses / micro businesses or small – medium scale businesses. The recording standards themselves refer to standards that have been prepared by Bank Indonesia together with the Indonesian Institute of Accountants (IAI). The recording system in this application is standardized, recognized and accepted by various financial institutions in Indonesia. The purpose of this Capacity Building is that MSMEs can implement this application in their business activity transactions so as to produce reports about their business conditions in an accountable and transparent manner. Besides that, the report can also be used as a basis for submitting credit financing to financial institutions. The capacity building activities and the application of the Siapik application were attended by 40 participants, all of whom are MSMEs who are members of the Bregas community (Brebes, Tegal, and Slawi). The activity received enthusiasm from the Head of the Tegal Regency Cooperative and UMKM Office, Mrs. Dra. Supriyanti, MM. The event was held on Saturday and sunday 25-26 February 2023 at the Pujasera of the PMI Building, Tegal Regency, Central Java...

К ВОПРОСУ ОБ ИСПОЛЬЗОВАНИИ ТЕРМИНОВ «ФОРМА» И «МЕТОД» КАК КАТЕГОРИЙ ПРАВОВОГО РЕГУЛИРОВАНИЯ В ПРЕДПРИНИМАТЕЛЬСКОМ ЗАКОНОДАТЕЛЬСТВЕ

The article raises the question of the lack of terminological unification in the legislation that regulates business relations. Using the example of the form and method, the author demonstrates some legislative decisions concerning the use of these terms as a verbal expression and the consolidation of certain permissive regimes (mandatory requirements) addressed to entrepreneurs. At the same time, the position on the use of the term "form" in relation to the name of a specific permissive regime (mandatory requirement) applied to individual business entities is substantiated.

Analysis of the Stages of Establishing an Individual Business in the City of Medan

The development of medium-scale individual businesses that were established aims to increase the potential and seek profits from running one's own business. The method used in this study is the method of direct interviews with business owners to achieve the results of the interview. From the interviews that have been conducted, several things were obtained, namely individual businesses have their own target market and express ideas, and their own innovation for the sustainability of the business being run. Individual businesses that are run must be well developed with good marketing and strategies to achieve maximum business.

Digital technology usage and entrepreneurship in Africa

In relation to actual digital usage, empirical research is limited on whether digital technology promotes entrepreneurial development in African economies. This study, therefore, investigates the impact of digital technology usage on entrepreneurship in selected African countries. This study contributes to the literature by using 20 selected African countries over the period of 2012–2016. Unlike existing studies, this paper differentiates between the impact of business, government and individual usage of digital technology by employing the 6th, 7th and 8th pillars of the Network Readiness Index. The study employs panel least square and instrumental variable (IV) estimating techniques and panel corrected standard errors (PCSEs) to analyze the data. The results show that digital technology usage has a positive and significant impact on entrepreneurship in Africa. Further analysis shows that individual usage and business usage have a positive and significant impact on business creation. Social media network usage has a positive and significant impact on entrepreneurial development. The study suggests that the growth of entrepreneurship can be enhanced through an ICT usage enabling environment. Individual usage and business usage including social media usage of digitalization are the main drivers of entrepreneurial development in the region.

Prospects for an innovative scenario for the long–term economic development of the Russian Federation

The article draws an analogy between progressive and innovative development, presents an understanding of the innovative potential of development, analyzes and compares the main scenarios for the country’s long–term economic development, which are reflected in current regulatory legal acts. Based on the comparative characteristics reflected in the Forecast of the long–term socio–economic development of the Russian Federation for the period up to 2030, which were already indicated in the Concept for the long–term socio–economic development of the Russian Federation for the period up to 2020, scenarios for long–term economic development and the analysis of modern socio–economic development, it is substantiated that that the innovative scenario is a moderate and, at the same time, a progressive direction for the long–term economic development of our country. The innovative development potential is considered at the level of the country, industry and individual business entity. In conclusion, it was noted that innovative development should move from the form of an declarative–administrative form to an initiative–active one, and the need for the formation at the state level of indicators for the development of innovative activity, a system for its support and development, infrastructure, and development directions is reflected.

DETINIZATION OF THE FUNCTIONING OF THE PRIORITY INDUSTRIES OF THE NATIONAL ECONOMY IN THE CONTEXT OF ENSURING ITS FINANCIAL AND ECONOMIC SECURITY

The modern realities of the functioning of enterprises in various branches of the national economy testify to the presence of a significant number of negative impact factors that significantly affect not only individual business entities, but also the economic security of the state as a whole. Such a situation requires a thorough study of the sources of influence and means of its minimization through the use of modern management tools, which allow to ensure a sufficient level of financial and economic security at the macro, meso, and micro levels. The article identifies the priority sectors of the domestic economy from the point of view of post-war recovery. It is precisely such industries as: military-tech, metallurgy, mining industry and engineering, agriculture, food industry, and the IT industry that are able to provide conditions for the growth of GDP and stabilization of the financial and economic situation in the country in the future. This is a guarantee of financial and economic security at the national level and should be a reference point for making appropriate management decisions by the top management. It has been proven that metallurgy, mining industry and mechanical engineering are traditionally under the influence of financial and industrial groups, and financial flows within such spheres are quite strongly dependent on market conditions and the vision of company management regarding the legal reflection of the state of affairs. In other areas, the level of business shadowing is also quite high. This is evidenced by the results of the assessment of the impact of the factors restraining industrial production. Even before the war, there was no formation of a positive business environment and rapid growth of investment flows in domestic industries at the national level. It is proven that the financial and economic security of the state depends, first of all, on the political will of the top management and compliance with the legislation by all participants of the socio-economic systems, which ultimately leads to the gradual detinization of the functioning of the vast majority of industries and the economy as a whole.

Searching for inclusive artificial intelligence for social good: Participatory governance and policy recommendations for making AI more inclusive and benign for society

AbstractWhile artificial intelligence (AI) has begun to transform individual lives, business operations, and public services, there has been a lack of discussion concerning its role in contributing to social good. Both academic research and practical evidence have often compellingly predicted and suggested AI's potential impact on the labor market, industry, and services, as well as the risks and benefits of disruptive technologies. With an emphasis on understanding the complex and uncertain nature of AI as well as the disparities in its benefits, in this article, the logic of participatory governance is examined, and it is posited that this governance is an appropriate governing mechanism for an inclusive AI that contributes to social good. This study also offers a set of policy recommendations by reviewing selected cases and the challenges that policy‐makers face at the national and global levels.

Democracy and law in the new American antitrust

There is an inverse relationship between those who argue that judges, guided by economists, are well suited to the task of determining the ultimate social value of an individual merger or business practice, and those who believe that antitrust law plays a central role in the protection of human freedom and democracy. The more one is concerned with private sector threats to freedom, the more one treats antitrust as a public enterprise and seeks simple, administrable, publicly legible rules, with less discretion for judges, and a limited role for case-specific economic analysis. Conversely, if one is relatively unconcerned with democratic threats from the private sphere (or takes as a prior that only campaign finance law can address such threats), the more one understands antitrust as a microeconomic technical enterprise and seeks a single standard that is methodologically legible to economists, with a significant role for case-specific economic analysis. The Biden administration’s extraordinary re-invigoration of American antitrust in the name of democracy, workers, and macro-economic vitality should be understood in these terms.

Network dynamics and action space

PurposeIn today’s business settings, most firms strive to closely integrate their resources and activities with those of their business partners. However, these linkages tend to create lock-in effects when changes are needed. In such situations, firms need to generate new space for action. The purpose of this paper is twofold: analysis of potential action spaces for restructuring; and examination of how action spaces can be exploited and the consequences accompanying this implementation.Design/methodology/approachNetwork dynamics originate from changes in the network interdependencies. This paper is focused on the role of the three dual connections – actors–activities, actors–resources and activities–resources, identified as network vectors. In the framing of the study, these network vectors are combined with managerial action expressed in terms of networking and network outcome. This framework is then used for the analysis of major restructuring of the car industries in the USA and Europe at the end of the 1900s.FindingsThis study shows that the restructuring of the car industry can be explained by modifications in the three network vectors. Managerial action through changes of the vector features generated new action space contributing to the transition of the automotive network. The key to successful exploitation of action space was interaction – with individual business partners, in triadic constellations, as well as on the network level.Originality/valueThis paper presents a new view of network dynamics by relying on the three network vectors. These concepts were developed in the early 1990s. This far, however, they have been used only to a limited extent.

Competitiveness—the engine that boosts economic growth and revives the economy

Competitiveness is a concept that shows up in all aspects of human life, both at the micro level, in personal, social, and professional life, and at the macro level, linked to organizational and national competitiveness with long-term effects on global competitiveness. In this paper, we aim to address competitiveness in Romania in the current context, before and after the COVID-19 pandemic, highlighting its role in reviving the economy. While until the onset of the pandemic Romania’s competitiveness performance was growing, more recently, because of the global health crisis, it dropped a few places, according to the Global Competitiveness Index report. In order to have a clear picture of the degree of competitiveness in Romania, we have presented a series of statistical data for the most relevant macroeconomic indicators for our study for the 2017–2022 timeframe: the global competitiveness index, the minimum wage, labor productivity, the evolution of real labor productivity per employed person, the economic growth rate, the unemployment rate, the inflation rate, the European innovation index, gross domestic expenditure on research and development, export of goods and services as a share of GDP, etc. The methodology used involves the use of quantitative techniques, performing an econometric analysis, and correlating how the most important macroeconomic indicators can influence the degree of competitiveness at both the national and international level. For the post-pandemic timeframe, the analysis switches focus, just as the economic reality did, looking at energy costs and energy use as determinants of competitiveness. Since notions like circular economy and sustainable development correlate being energy-efficient with being competitive, however, at the same time, the high cost of investments necessary for individual businesses and countries to switch from polluting energies to clean energies impedes or at the very least heavily impacts their ability to compete with entities that don’t make that same switch, it becomes apparent that the energy market impacts competitiveness metrics. Competitiveness promotes valuable contributors and underpins performance at group and company level, and the effects from the micro level will propagate, with an emission effect, to the entire national economy with obvious implications at the international level, through real growth in macroeconomic indicators, increased labor productivity, increased economic performance (market share, export share, return on capital), raising living standards and economic and social wellbeing (life expectancy index, human development index, poverty rate), education (skills, knowledge, abilities, managerial and marketing skills, corporate culture), competitive potential (innovation, R&D, promotion), and in raising the Global Competitiveness Index by focusing on factors of production, efficiency, and innovation, etc.

Taming Housing and Financial Market Instability: The Effect of Heterogeneous Banking Regulations

As a response to the latest financial crisis, the Basel Committee published the Basel III accords which intensify micro- and introduce macro-prudential instruments to enhance the resilience of the financial market. One crucial aspect that the regulatory reforms do not address is the diversity of the banking sector. We introduce a heterogeneous agent-based model that develops a housing and a capital market to assess the ability of Basel III rules to mitigate mutual feedback effects and dampen instability. Computational experiments reveal that the most stable markets are achieved if the financial market is diversified and consists of different types of financial intermediaries that need to comply with type-specific capital adequacy requirements. The results point out that capital adequacy requirements are, in principle, effective in stabilizing the banking sector. However, the stability of housing and share prices and the solidity of the banking sector can be increased if capital adequacy requirements are aligned to the individual business models of financial intermediaries and their institutional frameworks. These findings advocate in favor of a diversified banking sector and heterogeneous capital adequacy requirements.

Peningkatan Produktivitas UKM Lontong Plastik Mini Modern di Desa Kolam


 
 SMEs are small and medium enterprises owned by individuals or individual business entities. Small and Medium Enterprises (SMEs) have an important role in supporting the national economy. Therefore, SMEs need to get attention from the government and academics. Various processed food products are produced by SMEs. Lontong is one of the staple food products that we often encounter and consume. Lontong is made from rice wrapped in plastic, banana leaves and boiled. The majority of Lontong business owners continue to produce their goods using firewood and improvised tools. As a result, the quality and production capacity remain low. However, on this occasion the researchers conducted research on the mini Lontong UKM located in the village of Pond, Kab. Deli Serdang Kec. Percut Sei Tuan here, researchers see the production process for making rice cake at Mrs. Risna's house. The manufacturing process is very modern because it uses modern cooking utensils, namely using a gas stove and the cooking process takes 6 hours faster. The mini size of the lontong and the cheap and economical price makes it attractive for the public to buy the product and the owner distributes it to markets and online media such as social media and other online media.
 Keywords : Lontong UKM, Productivity, Production Marketing

Foresite of Restaurant Business Development

Topicality. Domestic economic environment has been in a state of turbulence since the start of the coronavirus pandemic, additionally reinforced by the risks of a full-scale war escalation. The uncertainty of the crisis timeframe, as well as significant threats of physical destruction and financial losses cause the necessity of searching reference points for adaptation and revitalization of activities. The sphere of service activity, in particular the restaurant business, turned out to be the most vulnerable to the external influence of political and legal, social and cultural, technological tendencies, as well as fluctuations in economic conditions. The significance of this study is argued by the latter’s contribution to overcoming the shock of the Russian military invasion, which became decisive and drew attention to its social and economic role not only as an organizer of catering and leisure for the population, but also as a guarantee of food security. Therefore, the development of the restaurant business is an important aspect of supporting the country’s economy both in war and post-war realities. The prospects of startups should be supported by thorough calculation regarding the high level of its investment attractiveness. Therefore, the relevance of this research lies in the elaboration of oriented principles and prospects for the restaurant business development, which is based on scientific assessments, in particular thanks to foresight. The aim of the article. The aim of this study is to conduct a foresight research of the restaurant business in Ukraine, and to substantiate the oriented principles for development, taking into account market trends and tendencies. The specified topic determined the use of general scientific methods, which contributed to the elaborating key definitions and forming operational research tools. Research methods. The horizon scanning method was used to evaluate the restaurant business development scenarios; it revealed the main tendencies and trends of the restaurant services market and deterministic consumers’ needs. The modelling method helped to determine how communications could be formed in the process of implementation of foresight sessions for the restaurant business development. To assess the prospects for the development of the restaurant business, aspects of the pre-crisis (pre-quarantine and pre-war) as well as expectations (customers’, investors’ and subjects’ of the restaurant business) of the post-war periods were compared. Results. The key term “foresight” and its main predictors were defined. The components of the complex monitoring and prognostication mechanism were worked out: political, economic, technological and market foresight. An overview of the most important tendencies and trends in the national and global business environment was presented in order to identify and detail the problems and challenges facing restaurant establishments in future. Prospects for further research base on the elaboration of alternative scenarios for the restaurant business development through the foresight methodology. Conclusions and discussion. Restaurant business foresight studies use sophisticated methods, still, they rarely involve all stakeholders, including consumers. The authors pay special attention to the monitoring of political, economic, technological and market environment, as well as to digital technologies, which are already significantly changing approaches to business development. The analysis of Ukrainian subjects of the restaurant business makes it possible to evaluate strategic maps as a foresight tool, which is complemented by active prognostic methods. Based on the peculiarities of the restaurant business and market tendencies, four scenarios are defined: crisis experience (“freezing and adaptation”); anti-crisis benchmarking (“global expectations”); breakthrough innovations (“motivational attack”); resuscitation scenarios (“struggle and recovery”). All these scenarios describe oriented principles for the development of the restaurant business. They are practical for scientists and practitioners, as they provide a basis for elaborating and evaluating development strategies for both individual business entities and the restaurant industry in total.

Optimization of business processes in investment using automation technology, financial calculations, and risk assessment methods

This work considers the optimization and development of business processes in investment. The conditions for the digitalization of the economy actualize the issue of introducing information technologies at all its levels and links. It is proved that information technology is an effective tool for reducing the time for the implementation of individual business processes and in investment. Its use expands the possibilities of exchanging information and its dissemination to the general public, improves the quality of investment tasks and the objectivity of investment decision-making results. Experimental studies have confirmed that the result of its application is the efficiency of obtaining, processing, and analyzing information when making management decisions. The visual content of the results of investment analysis, obtained using automation technologies, facilitates the perception of information, improves the quality of its transmission, and the value of ideas. The continuous development of information technologies in the field of investment is the basis for further scientific and practical research in this area. Based on such considerations, the feasibility of modifying the methodical toolkit of financial calculations in the process of analyzing the effectiveness of investment implementation is justified. Models of the modified internal rate of return on investment and the rate of return on financial management are proposed. Based on their definition, the objectivity of evaluating investments increases, the effectiveness of cash flow management during their implementation is proved. Strengthening the manifestation of crisis phenomena actualize the study of the nature of the occurrence of risks and the degree of their controllability. The approach to assessing investment risks using the β coefficient, the calculation technology, which is a universal tool for assessing the impact of systemic risks at the macro and micro levels, is substantiated.