Business Information Research Articles

Local Networks and New Business Formation

Local Networks and New Business Formation

ИССЛЕДОВАНИЕ ПУТЕЙ ПОВЫШЕНИЯ УРОВНЯ МОДЕРНИЗАЦИИ ПРОИЗВОДСТВЕННОЙ ЦЕПОЧКИ ПРЕДПРИЯТИЯ В УСЛОВИЯХ ЦИФРОВОЙ ТРАНСФОРМАЦИИ

In the era of the digital economy, new business formats such as digital technologies, digital platforms and digital industries are developing rapidly and are gradually becoming an important driving force for the modernization of industrial enterprise chains. This article discusses the topic of increasing the level of modernization of the production chain as a starting point and suggests a possible way to increase the level of modernization of the production chain of an enterprise against the background of digital transformation.

Data lake management using topic modeling techniques

With the rapid rise of information technology, the amount of unstructured data from the data lake is rapidly growing and has become a great challenge in analyzing, organizing and automatically classifying in order to derive the meaningful information for a data-driven business. The scientific document has unlabeled text, so it's difficult to properly link it to a topic model. However, crafting a topic perception for a heterogeneous dataset within the domain of big data lakes presents a complex issue. The manual classification of text documents requires significant financial and human resources. Yet, employing topic modeling techniques could streamline this process, enhancing our understanding of word meanings and potentially reducing the resource burden. This paper presents a comparative study on metadata-based classification of scientific documents dataset, applying the two well-known machine learning-based topic modelling approaches, Latent Dirichlet Analysis (LDA) and Latent Semantic Allocation (LSA). To assess the effectiveness of our proposals, we conducted a thorough examination primarily centred on crucial assessment metrics, including coherence scores, perplexity, and log-likelihood. This evaluation was carried out on a scientific publications corpus, according to information from the title, abstract, keywords, authors, affiliation, and other metadata aspects. Results of these experiments highlight the superior performance of LDA over LSA, evidenced by a remarkable coherence value of (0,884) in contrast to LSA's (0,768)

FAMILY BUSINESS IN UZBEKISTAN AND ITS ROLE IN PUBLIC LIFE OF THE PEOPLE (HISTORICAL AND SOCIAL ANALYSIS)

The article describes the history of the formation of family businesses in Uzbekistan, stages of development and opportunities created for entrepreneurs. The article talks about encouraging entrepreneurs and the role of the industry in the socio-economic development of the country. The role of small business and entrepreneurship in family entrepreneurship, the possibilities of its further expansion, as well as its social significance are described. The article analyzes the formation and development of family entrepreneurship and its role in the auxiliary industry in solving the problem of unemployment, its importance in ensuring employment of the population. Opinions were expressed on the continuation of the “Every Family is an Entrepreneur” program in order to create new jobs through family entrepreneurship, provide employment, and provide practical assistance to citizens who want to earn income through their own labor.

The inventory of E. F. Gollerbach. From the history of museumification of the Chinese Palace in Oranienbaum

The museification of the former Oranienbaum residence of the Mecklenburg-Strelitskys, nationalized by the decision of the Northern Labor Commune in 1918, is one of the little-studied pages in Russian museology. One of the documentary evidences of this process is the “Brief Inventory of the Chinese Palace in Oranienbaum”, 1920, currently stored in the Archive of the State Hermitage Museum. The compiler of this document was a senior employee of the Department for the Protection, Accounting and Registration of Monuments of Art and Antiquity, Erich Fedorovich Gollerbach (1895–1942), sent at the end of July 1920 to inspect and register art collections concentrated in the only Oranienbaum Palace-museum operating at that time. The involvement of E. F. Gollerbach, an art critic, an enthusiastic bibliophile and collector, who later became the author of the first post-revolutionary guide to the sights of Tsarskoye (Detskoye) Selo, in the work on the accounting of art collections in the Chinese Palace is a little-known fact, probably had episodic significance in his biography. However, the property inventory compiled by him, even in its unfinished version, is of undoubted interest to researchers of the history of the formation of museum business in Oranienbaum. The works of art included in this list belonged to the historical collection of the Oranienbaum palaces, and the authenticity of this collection was preserved until the official accession of the Administration of the Oranienbaum Palaces-Museums to the Peterhof in October 1925. This study, based on the analysis of the inventory of E. F. Gollerbach and the comments left by him, examines the main methods of work of employees of the Department for the Protection of Accounting and Registration of Monuments of Art and Antiquity when they inventory nationalized private collections. In addition, on the basis of the same document, the problem of the possibility of identifying objects of the historical collection of the Oranienbaum palaces-museums in the funds of the State Museum-Reserve “Peterhof ” is actualized.

ЦИФРОВІЗАЦІЯ ЕКОНОМІКИ ЯК НОВА РЕАЛЬНІСТЬ УКРАЇНИ В УМОВАХ СЬОГОДЕННЯ

The article provides a theoretical overview of the emergence of a new economic era – the digital economy. The features and prerequisites for the development of the digital economy are highlighted. The concept of the digital economy, its characteristics and features are revealed. The author substantiates the transition to the digital economy, which is a "fingerprint" of the transition from the third to the fourth industrial revolution, while the third industrial revolution represented the transition from analog electronic and mechanical devices to digital ones, and the fourth industrial revolution is digital. The author analyzes the peculiarities of economic modernization from the end of the 20th century to the beginning of the 21st century, namely, the large-scale replacement of assembly lines and tools with automated mechanisms. Different approaches to the definition of the digital economy, as well as prospects and trends of its development in Ukraine are presented. The institutional and economic prerequisites for the transformation of the world economy on the basis of digital technologies are considered. The author of the 1995 book "Digital", Nicholas Negroponte, who was the founder of the One Laptop per Child Association and described the digital economy as "bits instead of atoms", is analyzed. The article analyzes the concept of digital economy formulated by Nicholas Negroponte, within the framework of such a metaphor as "the transition from processing atoms to processing bits". Based on Thomas Mesenburg, the author identifies three key components of the concept of "Digital Economy", namely: e-commerce infrastructure, including hardware, software, telecommunications, networks, and human capital; e-business, which is a business model where business processes, information exchange and commercial transactions are automated in the form of information systems; and e-commerce – a type of economy where the key factors and means of production are digital data (binary, information, etc.) The concept of e-business is explained. The key technologies of digital transformation are listed. It is substantiated that digital technologies change the operating model of enterprises, namely, the methods and procedures for implementing corporate strategy in everyday activities, especially in the banking and telecommunications sectors, which increases the efficiency of investments and identifies new opportunities in the market. The author characterizes that the digital economy is characterized by several features that distinguish it from the traditional economy. The author studies the world experience which shows that the level of development of digital information technologies is becoming one of the key factors of economic competitiveness. The average annual values of the additional contribution of growth factors to the added value of economic sectors as a result of digitalization for the period 2019-2030 are analyzed. The contribution of the digital economy to GDP and its components, % of GDP in 2023, is analyzed. The challenges and threats to the development of society in the context of the digital economy are summarized. The economic effects of the digitalization of the economy are identified. The problems and prospects for the use of digital technologies in Ukraine are identified.

The innovation ambidexterity enabled through business process performance and information systems strategy: an empirical study by strategy-as-practice perspective

The innovation ambidexterity enabled through business process performance and information systems strategy: an empirical study by strategy-as-practice perspective

РЕИНЖИНИРИНГ БИЗНЕС-ПРОЦЕССОВ В ДЕЯТЕЛЬНОСТИ МАРКЕТИНГОВОГО АГЕНТСТВА

The activity of marketing agencies belongs to the sphere of services and consists in providing various marketing services to clients. The article characterises the activity of this agency, which includes conducting marketing research, developing marketing strategies, creating and promoting advertising campaigns, etc. This article considers the reengineering of business processes in the activities of the marketing agency. Business processes, business tasks of a marketing agency are described, their classification is given, organisational and logical and temporal links of business tasks solution, information flows and performance indicators are defined. The relevance of this study lies in the need for continuous improvement of marketing agency activities in the context of a rapidly changing market and technological innovation. Re-engineering of business processes in the activities of a marketing agency allows to increase the efficiency of work, optimise costs and improve the quality of services provided to customers. The results of the study can be useful for optimising the activities of marketing agencies and increasing their competitiveness in the service market.

DIGITAL LOGISTICS AS A TOOL FOR IMPROVING THE LEVEL AND QUALITY OF CONSUMER SERVICE

In the modern conditions of the digital economy and many force majeure events, both of an economic and social nature, the issue of providing production with the necessary material and informational resources and their effective use is gaining particular relevance; improvement of operational and strategic management of warehousing, product stocks, and differentiated transport flows, sales activities and customer experience. In order to ensure effective operations, enterprises should organize their activities in such a way as to achieve levelling of risks, minimization of losses and costs associated with the organization of the processes of material and technical support, production of products, transportation, logistic service and sales, as well as to maximize profitability from implementation. First, the above-mentioned tasks can be carried out by increasing the efficiency of the management of logistics activities of enterprises, taking into account the analysis of its components, their interconnection and the presence of an accelerated and uneven process of digitalization. With this in mind, today the problems of implementing digital logistics as a new paradigm of logistics management are being actualized. As a result of the study, it was established that to increase the level and quality of logistics service, it is advisable to implement a “physical” Internet based on the Internet of Things; to automate the processes of product delivery to consumers; use digital crowdsourcing platforms when delivering goods. This will allow obtaining a synergistic (economic, social and environmental) effect by ensuring the automation of logistics processes; significant increase in the level of cooperation between logistics companies; improving the quality of logistics service as a result of reducing delivery times; increase in the level of employment; reducing the load on transport and logistics infrastructure and the level of natural pollution by optimizing transport flows. Keywords: digital economy, digitalization of business processes, digital transformation, digital logistics, customer service, logistics service, information and communication technologies, crowdsourcing platform, efficiency.

ОРГАНІЗАЦІЯ ТА ЕФЕКТИВНІСТЬ МОНІТОРИНГУ ДІЯЛЬНОСТІ ПІДПРИЄМСТВА

In contemporary business settings, it's essential to establish a dynamic information and analytical framework to facilitate effective managerial decisions. This involves implementing a monitoring system to track internal processes and external factors, providing comprehensive and timely data for decision-making. The article aims to outline the theoretical and methodological underpinnings of such a monitoring system, focusing on its practical application in monitoring, diagnosing, modeling, and managing various aspects of a company's operations. Drawing from scholarly works and diverse sources, including periodicals and online materials, the study employs methods such as comparative analysis and content analysis. It argues that modern enterprise monitoring should not merely be an information system but should also serve as a vital support for informed decisionmaking. The article proposes a two-level monitoring system comprising an information base and methodological framework to fulfill evaluation, analytical, prognostic, and management functions. It identifies and examines the structural components of this system, including the database and knowledge base. Furthermore, it defines key elements such as goals, objects, subjects, principles, and functions, forming the conceptual foundation of the monitoring system. Building upon these foundations, the article presents a model for the enterprise's monitoring system as an integral part of the decision-making process. The practical significance of this conceptual model lies in its ability to develop a comprehensive system for monitoring, evaluating, and forecasting enterprise activities, thereby facilitating timely management decisions. Effective implementation of such a system requires robust technological infrastructure, skilled personnel, and organizational commitment to data-driven decision-making practices. Additionally, ongoing evaluation and refinement are necessary to adapt the monitoring system to evolving business environments and information needs. Overall, the integration of advanced monitoring capabilities into managerial processes enhances agility, resilience, and competitiveness in today's dynamic business landscape.

Цифрове планування в торгівлі: методологічні підходи до оптимізації бізнес-процесів підприємств

The purpose of the study is to study the impact of modern technologies on the efficiency of managerial processes in organizations. The main focus is on the analysis of the integration of information systems and their impact on decision-making and optimization of business processes. As a result of the study, it is found that the use of information systems increases the efficiency and accuracy of decision-making, which has a positive effect on the efficiency of organizations. It is also found that there are significant differences in the impact of technologies on different sectors of the economy, due to the specifics of activities and the level of technological maturity of enterprises. Prospects for further research include a more detailed analysis of the impact of specific types of information systems on the management of an organization. It is also necessary to develop recommendations for minimizing the risks associated with their implementation and determine the most effective strategies for integrating technologies into business processes. The practical significance of the present work lies in the possibility of using the results to improve the efficiency of managerial processes in real conditions. The results can be useful for business leaders and information systems developers. The originality of the study lies in the integrated approach to the analysis of the impact of information technology on management processes. This research makes a significant contribution to the development of knowledge in the field of management and information technology, proposing new approaches to improve the efficiency of organizations.

ОПТИМИЗАЦИЯ ИНФОРМАЦИОННЫХ ПРОЦЕССОВ ЧЕРЕЗ ЛИЧНЫЙ КАБИНЕТ ЕДИНОЙ ИНФОРМАЦИОННОЙ СИСТЕМЫ ПО ЗАКУПКАМ

The article considers the relationship between business processes and information processes. The most common processes subject to automation are listed. Optimisation of business processes using modern information technologies, namely the module of automation of information processes as part of information systems, is also considered. The authors propose a variant of increasing the efficiency of organisation management through the implementation of a personal client cabinet, which contributes to the optimisation of interaction between counterparties. Personal accounts in information systems can be realised in different ways. The main development of UIS (unified information system) for procurement is usually conducted in Java language. The authors propose to implement additional modules designed for specific functionalities of the program in the Python programming language, because Python has a simple and clear syntax, makes it possible to integrate the written modules into other subsystems, and is one of the most commonly used languages for text data processing, analysis and visualisation. Supplier and customer are bound by a bilateral relationship, which is confirmed by documents. The personal cabinet of the supplier and the customer gives the possibility to optimally adjust the work with documents on purchases and deliveries of goods. For the formation of delivery-acceptance documents through the services of the Unified Information System (electronic activation), prior authorisation is required to log in to the personal account by means of authentication in the EUIA. The work describes step-by-step actions, starting with the formation of the contract on the customer’s side in the UIS system and up to the formation of the acceptance document in the supplier’s personal cabinet. In the course of work the correctness and correctness of the entered data is controlled - informational (not interfering with saving and signing of the document) and blocking controls (blocking the process of signing the document). The final documents are signed with electronic signatures of a legal nature and sent to the Federal Treasury. Automating the work of counterparties through a personal cabinet will eliminate errors and the creation of unnecessary documents, which will optimise the work of the information system.

ОБЛІК І ВНУТРІШНІЙ КОНТРОЛЬ ЗОБОВ’ЯЗАНЬ ПІДПРИЄМСТВА ЗА РОЗРАХУНКАМИ З КОНТРАГЕНТАМИ

Accounting for a company's obligations in settlements with counterparties is an important and complex part of accounting that affects the company's material interests. This area of accounting is mandatory for any company and requires great attention and accuracy to ensure timely settlements. The article concludes that inventorying a company's obligations in settlements with counterparties is an effective tool that can be used in various cases depending on the circumstances and purpose of the operation. Additionally, inventorying is an effective tool for verifying the accuracy of debt accounting with suppliers and determining the actual state of settlements. It can also be a useful tool for reconciling debts with suppliers and reducing potential misunderstandings or conflicts. During inventorying, opportunities for cost optimization and negotiations with suppliers to reduce costs or revise payment terms can be identified. Furthermore, inventorying can be used as a basis for discussing new delivery terms or expanding credit lines with suppliers if the company plans to negotiate. It is also a useful tool for identifying overdue payments and developing strategies to reduce them. Digitizing the internal control of a company's obligations in settlements with counterparties through a digital platform contributes to increasing the efficiency of the procurement process. The proposed methodology aims to create an integrated internal control system that includes the following aspects: ensuring the availability of information channels, system interfaces, their accuracy, timeliness, and security; ensuring the accuracy, timeliness, completeness, and security of transaction processing within business processes, information channels, and system interfaces; ensuring information security and confidentiality control in accordance with legal requirements and internal standards, etc. The methodology aims to create a comprehensive internal control system that includes ensuring the proper functioning of information channels, system interfaces, transaction processing, information security, and confidentiality control, as well as risk management and ensuring the continuity of organizational activities.

Edge Computing and AI: Advancements in Industry 5.0- An Experimental Assessment

This empirical research evaluated, via experimentation, how Edge Computing and Artificial Intelligence (AI) work together in the context of Industry 5.0. With a high satisfaction rating of 88%, participants in the Edge Computing condition saw an astonishing 18% decrease in task completion times. Similarly, in the AI integration scenario, participants rated AI's value at 86%, and they saw a significant 12% reduction in task completion times and a noteworthy 7% drop in mistake rates. Significantly, with an astounding 21% gain in work completion times, the Edge Computing and AI combo had the largest performance boost. These results highlight how Edge Computing and AI may dramatically improve industrial efficiency and performance in the context of Industry 5.0, providing insightful information for businesses looking to use these technologies to streamline processes and spur innovation.

DEVELOPMENT OF ECONOMIC DIPLOMACY OF UKRAINE IN THE CONTEXT OF MODERN CHALLENGES OF INTERNATIONAL ECONOMIC RELATIONS

Nowadays, economic diplomacy is a very important component of modern international relations in different countries, so each state aims to defend and protect its own economic interests. Nevertheless, this requires diplomatic representation in the economic sphere, however some developed countries demonstrate a certain "economic nationalism" in their international economic relations with other countries, that is characterized using all known economic and legal instruments to increase their influence in various segments of international markets. In such circumstances, Ukraine needs to intensify the use of economic diplomacy, which is an effective tool for protecting national interests and strengthening its competitiveness in international relations. The article is devoted to the study of potential ways of developing economic diplomacy in Ukraine and propositions of its practical implementation in the context of modern challenges caused by globalization. The paper presents a study of the theoretical foundations of using economic diplomacy to strengthen the country's economic position. Furthermore, the study investigates Ukraine's foreign economic activity and the role of economic diplomacy as an instrument of influence. Outlining the shortcomings and issues in Ukraine's economic diplomacy, this article proposes viable solutions and methods to overcome them, aimed at stimulating development in essential areas and industries. The results of the survey are relevant for the development of state strategies for Ukraine's economic diplomacy in the foreign economic sphere and international economic relations. Besides, it also provides valuable information for businesses and enterprises to analyse current economic trends.

BENEFÍCIOS ECONÔMICOS DA MEDIAÇÃO EMPRESARIAL NO CENÁRIO BRASILEIRO

ABSTRACT This study aims to measure the economic benefits of business mediation in Brazil compared to lawsuits, investigating whether choosing mediation to resolve a business conflict is more economically advantageous than filing a lawsuit in the judiciary and whether opting for extrajudicial mediation to settle a business dispute is more economically advantageous than reaching an agreement in judicial mediation. The research, conducted in the Southeast region of Brazil after the implementation of the Brazilian Code of Civil Procedure in 2016, employed quantitative methods, analyzing 397 judicial processes. The results indicated that extrajudicial mediation is the most cost-effective option, while the judicial lawsuit is the most costly. This article provides essential information for businesses to make informed decisions in the resolution of business disputes

Information society: current trends and features of development

The article examines the essence of the information society and emphasizes that the information society in the context of development and transformational changes of the modern information and communication paradigm is at the stage of reformatting institutional relationships. It is emphasized that the development of information technologies and the strengthening of innovative factors directly affect the socio-economic processes in society. In modern economic conditions, information is an important key strategic resource, the competitive place and market value of any enterprise and organization, as well as the development of society, the state, and the individual, depend on its attraction, analysis, and effective use. Different views on the interpretation of the definition «information society» are considered. At the same time, it is noted that there is a lack of a single point of view regarding the definition of the essence of the information society and the key characteristics and features of development. It was concluded that when interpreting the definition of «information society» it is necessary to take into account its global nature and constant transformations in the field of formation of information networks and systems. The analysis of economic concepts and theories regarding the formation and development of new communication technologies was carried out. It is noted on the features of the information society from the point of view of sociology, humanitarian and technocratic concepts. The key factors influencing the functioning and development of the information society are analyzed. It is noted that the development of information and communication technologies has caused the multifaceted manifestations of the essence of the information society. The processes of globalization and digitalization contribute to a faster transition from a post-industrial society to an information society. The influence of digitalization on the format of business conduct, as well as the results of the economic activity of business organizations, was also investigated. It was concluded that information technologies change the values, views, priorities of all subjects of economic relations. Acute issues related to the protection of information and personal data on all subjects of economic relations at both the macro and micro levels are analyzed. It is noted that issues of data and information protection are primarily in the legal and law enforcement sphere. The impact of digital inequality on the economic development of various regions of the world and ways to reduce the digital divide in the information society are considered. It was determined that in countries with a high level of economic development, there are trends towards a wider use of information and communication technologies in the economic sphere of states and regions, as well as in the everyday lives of citizens. It is noted that in the conditions of digitization of all spheres of society, new transformational changes are taking place in the formation and development of the information society.

From catering for death rituals to establishing a restaurant – the journey of KSN Iyengar Catering Service

Learning outcomes The learning outcomes of this case study are to develop an understanding of informal business practices (IBP) from an economic and a behavioural perspective, identify the pros and cons of IBP and how they can hinder the realization of entrepreneurial aspirations, use the effectuation perspective to understand the entrepreneurial journey of the protagonist and apply the strengths, weaknesses, opportunities and threats (SWOT) analysis and effectuation theory to understand the need for transition from informal to formal business practices. Case overview/synopsis KSN Iyengar Catering Services (KSNICS) had gained popularity for cooking and serving traditional “Iyengar” cuisine during festivals, ceremonies and other auspicious occasions. With the passage of time, KSNICS slowly diversified into offering food carrier services, corporate catering and preparation of sweets/savouries during the Diwali festival. The enterprise managed to sustain itself without additional investments from external sources. KSNICS was managed in an informal manner by the protagonist, Krishna Kumar. After almost 30 years of KSNICS’s existence, in 2021, Kumar felt that they should diversify into the restaurant business by establishing an authentic “Iyengar” restaurant. In spite of the unpredictable market and the challenging times due to the COVID-19 pandemic, he had somehow managed to sustain his catering business. However, given the informal methods through which he operated his catering services and in the post-COVID-19 pandemic scenario, would it be prudent on his part to establish a restaurant? Complexity academic level This case study is suitable for post-graduate- and executive-level instruction in courses such as managerial skills, entrepreneurship and human resource management. In managerial skills course, it can be used for applying SWOT analysis from a particular perspective for effective decision-making. In entrepreneurship-related courses, it can be used to introduce aspects such as entrepreneurship orientation, effectuation and decision-making. In organizational behaviour and HR-related courses, it can be used to highlight how employees can be trained and motivated and how businesses can be sustained within the scale, especially during challenging times. Irrespective of the course, the IBP discussion would remain a constant point of reference because that was the context under which the current business was operating. Supplementary material Teaching notes are available for educators only. Subject code CSS 3: Entrepreneurship.

“The Commercial, Socio-Demographic and Legal Aspects Distribution of the Informal Business in The Urban Areas of Tanzania”

Urban areas worldwide are primarily home to the informal sector due to enormous potential for job and income generation. Despite of its massive contribution to the country’s economy, it has very little information about the socio demographic characteristics that are found and discovered in the literature. The sociodemographic, economic, and legal characteristics of the Informal sector and people associated are examined in this paper’s empirical profile of the sector in an urban setting in Mwanza. 80 respondents provided information as the data collected from the questionnaire. The study used the Cross-tabulation and descriptive statistics in data analysis. The findings display that men dominate in the industry, the education levels of people are low, that the majority of people are young (19–26 years old), married, and that family labor is used. Businesses are also willing to operate at times and places that are convenient for their clients. The report also exposes that 82.5% of running activities lacked a license, and that 55% of the activities received funding from the owners’ own sources. Also, the findings showed almost 70 to 80% of Tanzania depend on IS and approximately 75% Of Mwanza region has Informal sectors which contributed to more employment of people than formal sectors. Generally, the study concludes that the IS significantly develops urban people’ quality of life. Therefore, in order to improve performance and improve the standard of living for those involved, as well as to enable Local Government Authorities to receive revenue in the form of taxes, the study suggests that Local Government Authorities should address training needs and intervene in the Informal Sector’s operations in the region, country at large. The results will also be used for the monitoring the implementation of local authority, regional and national, commitments such as implementing the Tanzania Development Vision for 2035.

Exploring the influence of digitalisation on the formalisation process of informal businesses: a comparative strategic management in China and Peru

Exploring the influence of digitalisation on the formalisation process of informal businesses: a comparative strategic management in China and Peru