Management Of Economic Entities Research Articles

ОБЛІКОВО-АНАЛІТИЧНЕ ЗАБЕЗПЕЧЕННЯ УПРАВЛІНСЬКИХ СИСТЕМ ПІДПРИЄМСТВА: КОНЦЕПТУАЛЬНИЙ БАЗИС ТА НАПРЯМКИ РОЗВИТКУ

The article reveals the functional role of accounting and analytical support in the management of economic entities, the place of this management toolkit in the general information system of the enterprise. At enterprises of any industry, the practical implementation of management processes (making management decisions) relies on information grouped and systematized in a certain way, the basis of which in Ukrainian practice traditionally consists of data from accounting and analytical systems combined into a single accounting and analytical model. The main functional purpose of the accounting and analytical system is noted, which consists in presenting complete information (synthesized in it by its subsystems) in a form suitable for making effective management decisions. The content and informational parameters of this management toolkit and its compliance with modern management needs have been studied. The problem of the traditional Ukrainian practice of the system of accounting and analytical support is noted, which consists in its excessive emphasis on completed (past) financial and economic processes and the absence of instrumental means for displaying information that is not expressed by financial indicators. The significance of the development of the system of accounting and analytical support is argued and the necessity of introducing an informational and analytical system adaptive to economic conditions at domestic enterprises is substantiated. The formulated aspects of improvement (adaptation) of the concept of accounting and analytical support are based on the actual dependence of the processes of stabilization of the functioning of domestic enterprises on foreign investments (prerequisites for the post-war reconstruction of the national economy). It is substantiated that the expected changes in the economic environment will require the adoption of decisions adequate to the situation, as well as the demonstration of the effectiveness of one's activities according to the criteria accepted in the world space, which are established on the basis of a wide array of information flows. In conditions of significant changes in the economy, this system requires the selection of a basic (key) criterion adequate to these changes as a management guideline. The expediency of creating this type of system, which will inform users about the real economic value of the enterprise and its changes, has been proven. It was determined that the well-known indicator of the weighted average cost of capital may be the most suitable for the stabilization of Ukrainian enterprises.

The sustainable development of enterprises in Poland during the war in Ukraine geopolitical and socio-economic crises – PESTEL and SWOT analysis

Purpose – The paper’s main aim is to discuss opportunities and threats to the sustainable development of enterprises in Poland in the era of geopolitical and socio-economic crises connected with the war in Ukraine. Research method – The main research hypothesis is as follows: “Sustainable development is a chance for enterprises that want to meet market challenges and build their competitive position during geopolitical crises”. Implementing the research goal required a retrospective and critical review of selected Polish and English-language literature and the PESTEL analysis. The publication’s review was based on the Scopus, Web of Science and BazEkon databases. Results – The results of the analysis indicate that sustainable development eliminates negative phenomena in crises, prevents the degradation of the natural environment, supports social inclusion and integrates the organisation and management of economic entities. Originality / value / implications / recommendations – The added value of the paper is the use of the PESTEL and SWOT tools to assess the prospects for sustainable development of enterprises. The research results are original, up-to-date and important for the theory and business practice. Therefore, business managers should implement tasks for sustainable development, and state authorities should create conditions to support green initiatives.

FINANCIAL SUPPORT OF THE ADAPTIVE MANAGEMENT SYSTEM OF CONSTRUCTION ENTERPRISES

The article examines the impact of financial support on the management of economic entities and develops a methodical approach to assessing the level of financial support of the system of adaptive management of construction companies. It is noted that today the introduction of modern management systems into the practical activities of construction companies, capable of adapting business entities to the existing conditions of doing business, is of particular importance. It is the financial support that needs special attention in the system of adaptive management of construction companies. The main existing approaches of Ukrainian and foreign scientists to the definition of «financial security» of economic entities are considered. It is established that the financial support of construction companies has certain features related to the specifics of production and economic activities and existing management systems. It is emphasized that the financial support of construction companies significantly affects the overall management system and effective management decisions, due to the possibility of creating certain conditions to maximize net cash flow, the growth of which will increase the self-financing of the entity and reduce its dependence on external sources. The key characteristics and features of financial support of the system of adaptive management of construction enterprises are highlighted. It is concluded that the proposed methodical approach to assessing the level of financial support of the system of adaptive management of construction companies allows to build a universal reliable simulation model with a predetermined level of efficiency and the ability to make additional changes. It is proposed, in the future, to assess the level of financial security of construction companies as an element of adaptive management, which will certainly allow you to make effective management decisions on all activities of the business entity.

СМАРТ-КОНТРАКТЫ В УПРАВЛЕНИИ ЛОГИСТИКОЙ БИЗНЕС-СИСТЕМ ИНДУСТРИИ 4.0

The problem of managing logistics supply chains in the business processes of interaction of economic entities using smart contracts in economic practice is considered. The objects of the study are the business processes of the movement of commodity-material (physical products) and intangible (digital products) values created by Industry 4.0 factories that carry out activities in the industrial segment of the economy. The purpose of the study is to synthesize an economic management system containing smart contracts in local and global circuits and regulating intra- and inter-company business relations of digital (product development), smart (product production) and virtual (product maintenance) factories. A feature of the regulatory processes applied to the management of economic entities is the deep digitalization of information and communication channels of interaction between factories, through which the mechanism of economic influence on the material and service flows of the logistics movement of products is implemented. The scheme is proposed and the management principle is described, based on cost, time and other criteria and providing end-to-end economic regulation of material, service, financial and information flows that characterize the logistics movement of products in the course of its full life cycle and its individual stages. The novelty of the research results lies in the complementary use in the management system of the advantages of economic regulation of logistics business processes implemented jointly by means of physical and virtual (digital) control circuits.

Definition of the main ways of recovery of the hospitality industry

The object of research in this work was the tourism industry. The main emphasis was placed on hotel enterprises, which suffered heavy losses during the knockdown period, as well as in the post-clown period. The conditions of the pandemic lockdown have prompted economic agents to restructure in accordance with the new communication and operational rules. The sphere of hotel services, the main purpose of which is the organization of recreation, has suffered the most from quarantine, because it was completely banned. Therefore, small hotels could not recover, they closed. Subsequently, the government was allowed not to close the domestic hotel industry, but to continue to operate subject to specially developed temporary recommendations for the operation of hotels. These recommendations relate to hotel reservations, accommodation and meals for tourists in rooms, hotel disinfection conditions and room disruption before and after guest accommodation, hotel staff working conditions, and the like.
 The creation of hybrid hotels or combo hotels and concept hostels as integration forms of enterprises in the hospitality industry has been proposed as one of the possible ways out of the hospitality enterprises. The study used an empirical method of research. By comparing different periods it was possible to draw conclusions about the financial losses of the hotel industry. Due to the analysis of the issue, changes in the organization of hotels, working conditions of the hotel industry, which occurred due to the introduction of quarantine, were investigated and revealed. The article examines the problems and difficulties of the hotel industry in a pandemic. Mitigation of quarantine has helped to revitalize activities, but it is legitimate within the protocols and regulations of local and state authorities to prevent the spread of viral infections. Therefore, the management of economic entities introduces compliance control for compliance and compliance with the rules, another name for compliance control – «compliance risk management». This function is assigned to special employees or even entire divisions of the company. Large enterprises introduce a department or service responsible for compliance. 
 The research results obtained can be useful in studying issues related to man-made disasters, environmental disasters and their impact on the tourism industry.

THE NEED OF THE BALANCE OF RISKS AND PROTECTION OF STAKEHOLDERS INTERESTS IN STRATEGIC MANAGEMENT OF FINANCIAL AND ECONOMIC SECURITY OF BUSINESS ENTITIES

The necessity of balancing the processes of ensuring the maximum level of satisfaction of interests of stakeholders of business entities and risk management during the realization of the tasks of strategic management of financial and economic security is substantiated. The definition of strategic management of financial and economic security is proposed, according to which its concept is interpreted as a process of using the entrepreneurial capabilities of a business entity to ensure the stability of its operation and to achieve long-term goals in the conditions of the constant need to protect corporate resources from the negative impact of external and internal threats and risks. The role of the stakeholders interests have been established in the processes of strategic management, risk management and financial and economic security management. The interests of stakeholders of business entities and the risks to financial and economic security that arise during their satisfaction are critically assessed and summarized. According to the results of the questionnaire of experts — representatives of business owners and top managers of a number of companies that carry out financial and business activities in the Ukrainian market, quantitative indicators of managers that would decide on the adoption of economic risk to meet the interests of stakeholders in the strategic perspective were made. A map of stakeholders of business entities for the needs of strategic management of financial and economic security of business structures is offered. It is proposed to initiate the process of forming risk catalogs taking into account the probability of their occurrence, depending on the level of stakeholders interests and needs satisfaction. The necessity of combining mechanisms of stakeholder management, strategic management, risk management and financial and economic security management in the integrated system of security-oriented management of economic entities in the conditions of financial instability characteristic of the post-crisis period of recovery and development of the Ukrainian economy is proved.

Digital Transformation of Business Structures in Ukraine: The Barriers and Drivers

In recent decades, one of the main trends in the development of economy and society has been the penetration of information technologies into various spheres of human activity. The digital transformation of the economy poses challenges to economic science and management, as the socio-economic institutions of society change dramatically, the same holds for the conditions and methods of doing business under the influence of technological changes in the economy. The problem is that traditional economic laws (economies of scale, value chain) are no longer functioning, and new economic actors (digital companies) are emerging that do not fit into traditional models of performance and business indicators. In addition, in the context of digitalization of the economy, the management of economic entities is the relevant issue. In order to play a dominant role in the global computer economy, a country must pay special attention to the production of innovations and to the domestic employment opportunities. For each country, the production and support of technical skills is an important component of economic development, employment, economic growth and development. The article analyses the development trends and the size of the digital economy in Ukraine and in other countries of the world. Key trends that will determine the direction of this type of economy are identified. It is proved that digitalization should be carried out in accordance with the principles of equal access, creating benefits, economic growth, promoting the development of the information society and the orientation towards cooperation. The advantages of digitalization of the Ukrainian economy are presented, as well as the threats and risks that will arise as a result of this process are specified. Thus, the developmental role of many countries, including Ukraine, is associated with unlimited access and transformation of new forms of economic development, taking into account the use of intellectual skills.

ОСНОВНЫЕ НАПРАВЛЕНИЯ РЕШЕНИЯ НАУЧНОЙ ПРОБЛЕМЫ ФОРМИРОВАНИЯ И ОЦЕНКИ СТОИМОСТИ ПРОФЕССИОНАЛЬНОГО ПОРТФЕЛЯ АРЕНДНОГО ЖИЛЬЯ

The article presents a comparative fundamental and statistical analysis and forecast of the professional rental housing segment development in Russia. According to the authors, the rental housing market development and the growth of its capitalization will lead to the reduction of system risks of the Russian market by limiting the volatility of housing market prices. Thus, the development of professional rental business, including companies with state participation, may become a promising direction in the new institutional environment. After researching factors that limit the development of the professional rental housing and evaluation of the influence of rental business on the housing markets, the authors make some proposals for stimulating rental segment of the market. Development of the professional rental business requires solving such scientific problems in the sphere of evaluation of housing development projects and financial management of economic entities’ as: theoretical substantiation of approaches to form and evaluate rental housing value, development of methodological tools and practical recommendations on value management of rental housing projects portfolio.

АНАЛІЗ ПОТЕНЦІЙНИХ ЗАГРОЗ ДІЯЛЬНОСТІ СУБ’ЄКТІВ ГОСПОДАРЮВАННЯ

У статті розглянуто різні підходи до визначення поняття «фінансова безпека підприємства» та запропоновано узагальнюючий підхід до питання безпеки підприємства, згідно з яким, сутність фінансової безпеки підприємства може бути охарактеризовано як такий стан фінансів підприємства, який дозволяє протистояти ідентифікованим і потенційним загрозам шляхом ефективного управління ризиками в процесі своєї діяльності. Проаналізовано сукупність класифікаційних ознак екзогенних та ендогенних потенційних загроз економічній безпеці підприємства. Метою статті є дослідження потенційних загроз для успішної діяльності підприємств в сучасних умовах господарювання. Визначено, що в залежності від різних економічних факторів, ризики та загрози які впливають на економічну безпеку, можуть змінюватись, тому єдиного підходу до класифікації та визначення загроз та ризиків, не існує. Доведено, що актуальність упровадження комплексної системи заходів з організації бухгалтерського обліку зумовлена необхідністю правильної організації облікового процесу, що здійснюється з метою збереження облікових даних для забезпечення економічної безпеки підприємства. Розглянуто вплив пандемії коронавірусу на економічну активність підприємств в сучасних умовах кризи.

Improvement of industrial development management as a basis food security: an integrated approach

The current stage of economic development in Russia is characterized by a new mainstream in management theory – the promotion of management technology to leading roles in the management of economic entities, priority is given to managers. It is believed that they are able to bring enterprises to the desired level of financial efficiency. Management developments of previous generations of managers, especially Russian ones, are not sufficiently taken into account. The article considers the formation of industrial development management, the contribution, first of all, of Russian economists and practitioners to the formation of the management paradigm. It is shown that the General principles of an integrated approach were developed in the first quarter of the twentieth century and Russian scientists and statesmen played a significant role in this. The main directions of formation of management tools, the increasing role of science-based planning in it are revealed.

On the Problem of Systematization of External Factors in the Restructuring of Machine-Building Enterprises

The presented study examines the role of machine-building enterprises in the national economy and the effects of development factors on their performance. Aim . The study aims to determine the degree of influence of external factors on the operation of machine-building enterprises. Tasks . The authors identify various effects of external and internal development factors of machine-building enterprises in the system of macro-, meso-, and micro-levels. Methods . This study uses general scientific methods of cognition to examine the role of machine-building enterprises in the national economy in various aspects. Some problems are solved using the methods of comparison and analysis. The information base of the study includes provisions of Russian and foreign theory of management of economic entities under market conditions; factual materials describing various aspects of operation of Russian machine-building enterprises; data from statistics agencies. Results . Machine-building enterprises are presented at three structural levels: first, as a key segment of the national economy, a foundation of modern industry and a source of innovative development of the economy as a whole; second, as a sophisticated complex consisting of twelve large integrated industries and over a hundred specialized sub-sectors; third, as a machine-building enterprise that is now a part of an integrated business structure (corporation). In modern economics, the three structural levels mentioned above correspond to three groups of scientific research in machine-building: macro -, meso-, and micro-economic. The concepts of external and internal operating environment of machine-building enterprises are substantiated. The authors note that in the restructuring of machine-building enterprises it is important to take into account the diversity and specific effects of these factors on enterprises and to neutralize negative and enhance positive external forces affecting the economic entity under restructuring. Conclusions . A comprehensive examination of machine-building enterprises as a part of the macro -, meso-, and micro-level of the national economic system makes it possible to determine the major effects of external factors on their development.

A company's financial risk assessment and management: The practical aspects of implementation for small and medium-sized businesses

Subject. This article deals with the issues of financial risk assessment and management of economic entities. It also considers the application and implementation of risk assessment techniques by small and medium-sized enterprises. Objectives. The article aims to develop applied aspects of the original methodology of stepwise assessment of a company's total financial risk using mild conditions of software maintenance. Methods. For the study, we used the methods of SWOT and scenario analyses, scoring, expert assessment, index numbers and ratio analysis methods, and the tabular, graphical, financial risk map, and event tree techniques. Results. Using the SME subject as a case study, the article reveals the applied aspects of the implementation of the total financial risk assessment methodology steps. By analyzing the performance and operating conditions of the company, it identifies the main risk components of financial risk, assesses the probability and cost of losses from their implementation, and determines risk indices and total financial risk. The article presents certain proposals for the financial recovery of the organization on the basis of internal changes and standards of indicators that ensure financial stability. A subsequent assessment of the effectiveness of the proposed measures shows the positive dynamics of the forecast financial indicators. Conclusions. Providing insight into the original methodology use at SMEs helps assess the potential for its practical application using relatively moderate data volumes and no specialized software.

BUDGETING AS A BASIC FINANCIAL PLANNING

Based on the strategic objectives of the enterprise, has been determined relevance of budgeting and has been identified as essential to the effective development of operation activities. It`s proven, that budgeting – the process of organization the financial and economic management of economic entities, which based on the development of budget for responsibility centers and activities, monitoring of their implementation, analysis of budget anomalies and regulation of economic activity to harmonize and achieve results at all management levels. The rationale for the role of budgeting in financial planning is treated differently by scientists: establishment budget milestones without assigning lead; formation of the financial structure of an instrument of financial planning and controlling; that the budget is a management technology. It has been determined that budgeting, as a management technology, should include three interrelated constituent parts: technology (targets and standards, budget types, budget consolidation schemes, formats), organization (liability centers, budgeting and budgetary control regulations, distribution of roles and responsibilities between different management levels, slotting systems) and automation of financial calculation. Main causes of necessity for implementation budgeting in domestic enterprises are: lack of information on real costs, expenses and income in the enterprises; misuse of organization resources; significant financial loss; foreclosure crisis. Scientifically based budgeting principles established the practical application of which is a prerequisite for effective budgetary planning. The role of budgeting in financial planning was justified as well as its benefits for domestics’ enterprises. A number of problems need to be solved to realize of benefits of enterprises budgeting, namely: economic, technical, organization, social and information.

Обоснование формирования системы информационного обеспечения антикризисного управления экономическими субъектами

Обоснование формирования системы информационного обеспечения антикризисного управления экономическими субъектами

MANAGEMENT CONSULTING AS A FACTOR OF SERVICE ECONOMY

Modern conditions of management require from managers deep theoretical knowledge and practical skills that are advantageous to acquire, inviting consultants in economics and management. Management consulting is a rapidly growing field of consulting services that require the preparation of high-level professionals, which main purpose is the transfer of knowledge to managers engaged in management of economic entities of different ownership forms. The author considered the main problems hindering the further spread of consulting activities in Russia.