Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.8
Margarita Išoraitė
This paper offers a review of the best Lithuanian practices in the area of clustering. Currently, cluster formation not only facilitates further economy growth in Lithuania but also boosts new jobs creation. It is argued that clustering is most needed for medium and small businesses, so that they can compete with what they can do best. Clustering, or grouping of companies in a particular geographical environment established to jointly create and sell new products or services, is one of the options for enhancing the region’s competitiveness. A cluster is a voluntary association between businesses and / or science and education institutions and other entities, operating within a partnership framework, whose participants work together to increase the added value created. The key functional areas of activities in Lithuanian cluster management involve information and communication, co-operation, training and re-training, technology and innovation, co-marketing, international development, partnerships with other clusters, etc. Clusters in Lithuania contribute to promoting economic growth and better employment as well as attract new technologies, skilled workers and investment in research. Close cooperation with entrepreneurship is becoming a must to achieve a competitive edge through curtailing costs by gaining new knowledge or technology, creating more learning opportunities, allows risk sharing and R&D development, encourages flexibility as well as helps to reduce time and ease the access to market for innovative products or processes. According to various data, there are currently about 70 clusters operating in Lithuania which range from a few to dozens of participants represented by mostly manufacturing and service companies. A great majority of Lithuanian clusters are still in their early development stages, however, they are mature enough finding their own niches and having an excellent track record in international markets, especially in the field of laser and biotechnology. Apparently, public clusters and their member-firms benefit from making more profits, thus increasing budget contributions. Clustering fosters successful cross-sectoral cooperation, in particular in such promising areas as food industry and information technology, medicine and tourism, laser and engineering technologies, etc. that boosts innovative products and services creation, promotes export and trade along with enhancing the country's competitiveness and repute in international markets. Clusters and clustering is a powerful tool and a critical driver for further economic development and the country's prosperity.
{"title":"TOWARDS BEST CLUSTER ENTREPRENEURSHIP DEVELOPMENT IN LITHUANIA: CASE STUDY","authors":"Margarita Išoraitė","doi":"10.30857/2413-0117.2019.1.8","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.8","url":null,"abstract":"This paper offers a review of the best Lithuanian practices in the area of clustering. Currently, cluster formation not only facilitates further economy growth in Lithuania but also boosts new jobs creation. It is argued that clustering is most needed for medium and small businesses, so that they can compete with what they can do best. Clustering, or grouping of companies in a particular geographical environment established to jointly create and sell new products or services, is one of the options for enhancing the region’s competitiveness. A cluster is a voluntary association between businesses and / or science and education institutions and other entities, operating within a partnership framework, whose participants work together to increase the added value created. The key functional areas of activities in Lithuanian cluster management involve information and communication, co-operation, training and re-training, technology and innovation, co-marketing, international development, partnerships with other clusters, etc. Clusters in Lithuania contribute to promoting economic growth and better employment as well as attract new technologies, skilled workers and investment in research. Close cooperation with entrepreneurship is becoming a must to achieve a competitive edge through curtailing costs by gaining new knowledge or technology, creating more learning opportunities, allows risk sharing and R&D development, encourages flexibility as well as helps to reduce time and ease the access to market for innovative products or processes. According to various data, there are currently about 70 clusters operating in Lithuania which range from a few to dozens of participants represented by mostly manufacturing and service companies. A great majority of Lithuanian clusters are still in their early development stages, however, they are mature enough finding their own niches and having an excellent track record in international markets, especially in the field of laser and biotechnology. Apparently, public clusters and their member-firms benefit from making more profits, thus increasing budget contributions. Clustering fosters successful cross-sectoral cooperation, in particular in such promising areas as food industry and information technology, medicine and tourism, laser and engineering technologies, etc. that boosts innovative products and services creation, promotes export and trade along with enhancing the country's competitiveness and repute in international markets. Clusters and clustering is a powerful tool and a critical driver for further economic development and the country's prosperity.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128749613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.1
Олена Антонівна Зінченко, Д. С. Зінченко
In market realia, the ultimate purpose for starting any organization, including transnational clusters, is to gain optimum return on financial investments. Currently, boosting investment in transnational clusters in effect depends mainly on the participants in this cluster. Thus, the issues of finding pathways to control the profitability and competitiveness against the financial and business performance of transnational clusters come within the competence of the top management of participating businesses. In this context, good management practices provide the framework for creating positive image of domestic enterprises and their investment attractiveness. The paper offers an overview of economic, legal and institutional premises to foster cross-border partnerships in terms of building an overall country’s investment attractiveness. The aim of this study is to identify the factors affecting investment attractiveness of Ukraine through the development of cross-border economic clusters and implementing international economic partnership projects with shifting a focus towards investing in innovation. The methods of system analysis and synthesis, logical structured analysis and scientific justification have been employed. The paper explores the investment climate of the European Union using the case studies from Estonia and the Czech Republic along with revealing the role of transnational economic clusters in building a country’s investment attractiveness and providing insights on legal framework regulating cross-border partnerships. The findings expand understanding of cross-border cluster development capacities. An emphasis is put on the need for more extensive application of intellectual and innovative potential of domestic cluster participants. It is argued that under cluster creation and functioning it is critical to change a vector towards achieving higher efficiency, quality assurance, greater profits and competitiveness of domestic businesses. A range of government programs focused on attracting international investment, in particular, the ones promoting the development of cross-border clusters have been discussed.
{"title":"ФОРМУВАННЯ ІНВЕСТИЦІЙНОЇ ПРИВАБЛИВОСТІ КРАЇНИ В АСПЕКТІ ЕКОНОМІЧНИХ КЛАСТЕРІВ ЯК ФАКТОР АКТИВІЗАЦІЇ ТРАНСКОРДОННОГО ПАРТНЕРСТВА","authors":"Олена Антонівна Зінченко, Д. С. Зінченко","doi":"10.30857/2413-0117.2019.1.1","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.1","url":null,"abstract":"In market realia, the ultimate purpose for starting any organization, including transnational clusters, is to gain optimum return on financial investments. Currently, boosting investment in transnational clusters in effect depends mainly on the participants in this cluster. Thus, the issues of finding pathways to control the profitability and competitiveness against the financial and business performance of transnational clusters come within the competence of the top management of participating businesses. In this context, good management practices provide the framework for creating positive image of domestic enterprises and their investment attractiveness. The paper offers an overview of economic, legal and institutional premises to foster cross-border partnerships in terms of building an overall country’s investment attractiveness. The aim of this study is to identify the factors affecting investment attractiveness of Ukraine through the development of cross-border economic clusters and implementing international economic partnership projects with shifting a focus towards investing in innovation. The methods of system analysis and synthesis, logical structured analysis and scientific justification have been employed. The paper explores the investment climate of the European Union using the case studies from Estonia and the Czech Republic along with revealing the role of transnational economic clusters in building a country’s investment attractiveness and providing insights on legal framework regulating cross-border partnerships. The findings expand understanding of cross-border cluster development capacities. An emphasis is put on the need for more extensive application of intellectual and innovative potential of domestic cluster participants. It is argued that under cluster creation and functioning it is critical to change a vector towards achieving higher efficiency, quality assurance, greater profits and competitiveness of domestic businesses. A range of government programs focused on attracting international investment, in particular, the ones promoting the development of cross-border clusters have been discussed.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"3 1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116810868","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.5
O. Arefieva, Iryna M. Miagkyh, Antonina M. Yashchuk
This paper seeks to explore the essence of financial activity and its principal objectives in the process of business functioning as well as the effects from changes in the capacity and structure of the company's equity and attracted capital. The study provides insights on the impact of financial management practices on the overall company performance and payment of financial liabilities to the government or other business entities along with identifying the key problems and barriers hindering successful development of modern enterprises. The nature of financial risk arising in the process of financial activities or financial transactions has been revealed. It is argued that the given classification of financial risks (systematic (market) / unsystematic (specific) risks) enables to take timely and relevant risk elimination or risk reduction measures, in particular, deploy risk mitigation methods to those risks which cannot be avoided. The purpose of financial risk management is to minimize financial loss. The paper offers an overview of the factors that negatively affect a company’s financial performance and discusses the types of risks that inhibit company’s good performance and further growth. The study findings suggest the priority areas in financial risk management and discuss the risk management strategies by disclosing the types of company financial stabilization mechanisms (operational, tactical and strategic), along with presenting the methods for financial risk minimization as well as a financial toolkit to enhance the company’s risk management policies to prevent possible negative implications.
{"title":"CHALLENGES AND PATHWAYS TO IMPROVE COMPANY’S FINANCIAL MANAGEMENT BY RISK MINIMIZATION","authors":"O. Arefieva, Iryna M. Miagkyh, Antonina M. Yashchuk","doi":"10.30857/2413-0117.2019.1.5","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.5","url":null,"abstract":"This paper seeks to explore the essence of financial activity and its principal objectives in the process of business functioning as well as the effects from changes in the capacity and structure of the company's equity and attracted capital. The study provides insights on the impact of financial management practices on the overall company performance and payment of financial liabilities to the government or other business entities along with identifying the key problems and barriers hindering successful development of modern enterprises. The nature of financial risk arising in the process of financial activities or financial transactions has been revealed. It is argued that the given classification of financial risks (systematic (market) / unsystematic (specific) risks) enables to take timely and relevant risk elimination or risk reduction measures, in particular, deploy risk mitigation methods to those risks which cannot be avoided. The purpose of financial risk management is to minimize financial loss. The paper offers an overview of the factors that negatively affect a company’s financial performance and discusses the types of risks that inhibit company’s good performance and further growth. The study findings suggest the priority areas in financial risk management and discuss the risk management strategies by disclosing the types of company financial stabilization mechanisms (operational, tactical and strategic), along with presenting the methods for financial risk minimization as well as a financial toolkit to enhance the company’s risk management policies to prevent possible negative implications.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132701496","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.9
Анатолій Іванович Ковальов, Олександр Сергійович Літвінов
Understanding of the enterprise intellectual capital development concept entails irreversible, targeted, regular, qualitative changes in the state of its objects. Therefore, the scientists face the problem of quantitative measurement of the state of intellectual capital and its changes. In turn, the measurement process involves the procedure of attributing the numbers to the characteristics of intellectual capital development subject to certain rules with the purpose of replacing the research of the of intellectual capital development by the study of its numerical model. This triggers the need to develop a theoretical and methodological framework for measuring the level of enterprise intellectual capital development through building a step-by-step analysis, identification of indices and indicators and their specific effects on intellectual capital development. To assess the degree of intellectual capital development, a taxonomic analysis should be used since it allows to account for a number of latent factors which may have a multi-directional relationship with the level of development as well as different units of measurement. Moreover, the taxonomy method helps to estimate the distance of the level of enterprise intellectual capital development from the standard and that of other companies and offers a possibility to reveal additional resources in intellectual capital development. The study attempts to explore theoretical and methodological premises to measure the level of intellectual capital development which consist of a sequence of 12 analysis stages. Thus, enterprise management gains a benefit to identify hidden, latent development characters of each of the four components of intellectual capital. As a result of the evaluation of particular components of intellectual capital development by means of classical, modified, and integrated algorithms we obtain an integral assessment of the enterprise intellectual capital development. Practical testing of theoretical and methodological foundations for measuring the degree of intellectual capital development was performed based on evidence from 14 domestic industrial enterprises.
{"title":"ВИМІРЮВАННЯ РІВНЯ РОЗВИТКУ ІНТЕЛЕКТУАЛЬНОГО КАПІТАЛУ ПРОМИСЛОВИХ ПІДПРИЄМСТВ УКРАЇНИ","authors":"Анатолій Іванович Ковальов, Олександр Сергійович Літвінов","doi":"10.30857/2413-0117.2019.1.9","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.9","url":null,"abstract":"Understanding of the enterprise intellectual capital development concept entails irreversible, targeted, regular, qualitative changes in the state of its objects. Therefore, the scientists face the problem of quantitative measurement of the state of intellectual capital and its changes. In turn, the measurement process involves the procedure of attributing the numbers to the characteristics of intellectual capital development subject to certain rules with the purpose of replacing the research of the of intellectual capital development by the study of its numerical model. This triggers the need to develop a theoretical and methodological framework for measuring the level of enterprise intellectual capital development through building a step-by-step analysis, identification of indices and indicators and their specific effects on intellectual capital development. To assess the degree of intellectual capital development, a taxonomic analysis should be used since it allows to account for a number of latent factors which may have a multi-directional relationship with the level of development as well as different units of measurement. Moreover, the taxonomy method helps to estimate the distance of the level of enterprise intellectual capital development from the standard and that of other companies and offers a possibility to reveal additional resources in intellectual capital development. The study attempts to explore theoretical and methodological premises to measure the level of intellectual capital development which consist of a sequence of 12 analysis stages. Thus, enterprise management gains a benefit to identify hidden, latent development characters of each of the four components of intellectual capital. As a result of the evaluation of particular components of intellectual capital development by means of classical, modified, and integrated algorithms we obtain an integral assessment of the enterprise intellectual capital development. Practical testing of theoretical and methodological foundations for measuring the degree of intellectual capital development was performed based on evidence from 14 domestic industrial enterprises.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121739696","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.3
M. Shkoda
This paper investigates the application of a contingency approach to managing meso-level public-private partnership projects. It is argued that situational management in implementing public-private partnership projects should rely on the so-called risk-contributing factors. It is emphasized that the contingency approach in the context of public-private partnerships is based on developing a set of indicators and integral index calculation used to rank both the projects themselves and their application in terms of territorial and sectoral aspects. It is proved that the integral coefficient at the meso-level reflects the most favorable environment for doing business, including basic frameworks for realization of public-private partnership projects. According to the calculations carried out within this study, at the regional level by selected indicators, the Mykolayiv region has demonstrated the most favorable conditions. Accordingly, the Donetsk region has the highest level of transaction costs and the highest rate of project implementation risk, i. e. the absolute risk value makes up 0.482. The high risk index for this region stems from military activities, low infrastructure development, lack of sufficient production capacity and, consequently, significant commercial and administrative costs for current operations. Thus, it is concluded that the assessment and multilevel analysis based on integral indicators, absolute and relative risk indicators are sufficient for the optimal selection of public-private partnership projects upon the criterion "the lowest project implementation risk – the greatest effects in different areas of activity.
{"title":"APPLYING A CONTINGENCY APPROACH TO PROJECT MANAGEMENT WITHIN MESO-LEVEL PUBLIC-PRIVATE PARTNERSHIPS","authors":"M. Shkoda","doi":"10.30857/2413-0117.2019.1.3","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.3","url":null,"abstract":"This paper investigates the application of a contingency approach to managing meso-level public-private partnership projects. It is argued that situational management in implementing public-private partnership projects should rely on the so-called risk-contributing factors. It is emphasized that the contingency approach in the context of public-private partnerships is based on developing a set of indicators and integral index calculation used to rank both the projects themselves and their application in terms of territorial and sectoral aspects. It is proved that the integral coefficient at the meso-level reflects the most favorable environment for doing business, including basic frameworks for realization of public-private partnership projects. According to the calculations carried out within this study, at the regional level by selected indicators, the Mykolayiv region has demonstrated the most favorable conditions. Accordingly, the Donetsk region has the highest level of transaction costs and the highest rate of project implementation risk, i. e. the absolute risk value makes up 0.482. The high risk index for this region stems from military activities, low infrastructure development, lack of sufficient production capacity and, consequently, significant commercial and administrative costs for current operations. Thus, it is concluded that the assessment and multilevel analysis based on integral indicators, absolute and relative risk indicators are sufficient for the optimal selection of public-private partnership projects upon the criterion \"the lowest project implementation risk – the greatest effects in different areas of activity.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"25 4","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121010482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.11
Наталія Сергіївна Приймак
Extractive industries (mining and quarrying, in particular) is a strategically important part of the primary sector of Ukraine. The current state of the extractive industries is characterized by a certain revival, however only in a few sectors. The purpose of this paper is to provide insights to the extractive industry performance and identify the main factors of change that will ensure growth in the primary sector. The analysis showed that as of today the extractive industry companies demonstrate low performance efficiency (a slowdown in production growth rate, fluctuations in cost effectiveness and profits, a significant share of unprofitable businesses), their technical and production capacity fail to meet the global trends which is underpinned by ineffective opportunity management in the given sector. For extractive industries, change management gains critical importance subject to their high environmental dynamism. Changes in the business environment in the mining and quarrying sectors are generated by the factors of space, time, consumer, safety, products, price – all of which initiate external changes; reduce (curtail) lag changes; trigger changes in the market infrastructure and the range of related services; promote government support extension; yet again prove the need for changes in extraction engineering and technology, raw materials processing and enrichment; assign changes in approaches to cost control and pricing methods. The key messages that make companies move forward to change should be: increasing difficulties in confronting the entropic effects of the external environment; crisis phenomena within companies; deterioration of market environment; company management or any stakeholders’ (their groups) initiatives of changes; contact group information on certain requirements for products, prices, resources cost, etc. The research findings have revealed the following headwinds that hamper changes: the lack of effective management and professional managers capable of implementing the entire cycle of changes; inefficient organizational structure, the presence of conflicts in the organization; resistance to change; undeveloped corporate culture of the enterprise.
{"title":"УПРАВЛІННЯ ЗМІНАМИ НА ДОБУВНИХ ПІДПРИЄМСТВАХ УКРАЇНИ ЯК ЧИННИК ЇХ РОЗВИТКУ","authors":"Наталія Сергіївна Приймак","doi":"10.30857/2413-0117.2019.1.11","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.11","url":null,"abstract":"Extractive industries (mining and quarrying, in particular) is a strategically important part of the primary sector of Ukraine. The current state of the extractive industries is characterized by a certain revival, however only in a few sectors. The purpose of this paper is to provide insights to the extractive industry performance and identify the main factors of change that will ensure growth in the primary sector. The analysis showed that as of today the extractive industry companies demonstrate low performance efficiency (a slowdown in production growth rate, fluctuations in cost effectiveness and profits, a significant share of unprofitable businesses), their technical and production capacity fail to meet the global trends which is underpinned by ineffective opportunity management in the given sector. For extractive industries, change management gains critical importance subject to their high environmental dynamism. Changes in the business environment in the mining and quarrying sectors are generated by the factors of space, time, consumer, safety, products, price – all of which initiate external changes; reduce (curtail) lag changes; trigger changes in the market infrastructure and the range of related services; promote government support extension; yet again prove the need for changes in extraction engineering and technology, raw materials processing and enrichment; assign changes in approaches to cost control and pricing methods. The key messages that make companies move forward to change should be: increasing difficulties in confronting the entropic effects of the external environment; crisis phenomena within companies; deterioration of market environment; company management or any stakeholders’ (their groups) initiatives of changes; contact group information on certain requirements for products, prices, resources cost, etc. The research findings have revealed the following headwinds that hamper changes: the lack of effective management and professional managers capable of implementing the entire cycle of changes; inefficient organizational structure, the presence of conflicts in the organization; resistance to change; undeveloped corporate culture of the enterprise.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"142 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123200779","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.7
Зоя Олегівна Іванова, Ольга Анатоліївна Мріх
The paper explores the existing concepts of sales, sales policy and sales promotion, in particular, specifies the definition of a marketing sales policy concept as well as provides insights about the role and significance of marketing sales promotion policy. The study discusses a range of issues related to challenges in enhancing company’s competitiveness, identifies advantages and disadvantages of sales promotion along with revealing the most effective distribution channels in terms of various marketing communication tools. Specific advantages and disadvantages of particular forms and methods of sales, such as personal selling and selling via the Internet are considered. Within the context of sales promotion, special emphasis is put on the effect of such market drivers as price increase, impulsive buying tendency, increased competition, dramatic socioeconomic tension, etc. It is argued that sales policy of enterprises should rely on their respective marketing strategies, viewed as a set of tactical measures and actions to generate demand. To understand the root causes and prerequisites for the active use of sales promotion instruments in the marketing promotion mix, their core benefits and limitations have been exposed. Among a vast range of sales promotion tools, their common specific characteristic is the focus for gaining rapid sales growth in a short period of time. Thus, the research findings have revealed that this type of marketing communication as an element of integrated promotion strategy seems promising and effective, given the prompt and positive significant outcomes in the short term, and with careful planning and regular application it can lay a good background for a long-term brand loyalty. To achieve the most effective results from the implementation of sales promotion techniques, it is critical to develop a clear and specific sales promotion strategy that will entail information about the ultimate goal, tools, characteristics and the budget of the sales promotion mi, as well as the results from the sales program testing, monitoring and assessment.
{"title":"ОСНОВНІ ПЕРЕВАГИ ТА НЕДОЛІКИ МАРКЕТИНГОВОЇ ПОЛІТИКИ СТИМУЛЮВАННЯ ЗБУТУ ПРОДУКЦІЇ","authors":"Зоя Олегівна Іванова, Ольга Анатоліївна Мріх","doi":"10.30857/2413-0117.2019.1.7","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.7","url":null,"abstract":"The paper explores the existing concepts of sales, sales policy and sales promotion, in particular, specifies the definition of a marketing sales policy concept as well as provides insights about the role and significance of marketing sales promotion policy. The study discusses a range of issues related to challenges in enhancing company’s competitiveness, identifies advantages and disadvantages of sales promotion along with revealing the most effective distribution channels in terms of various marketing communication tools. Specific advantages and disadvantages of particular forms and methods of sales, such as personal selling and selling via the Internet are considered. Within the context of sales promotion, special emphasis is put on the effect of such market drivers as price increase, impulsive buying tendency, increased competition, dramatic socioeconomic tension, etc. It is argued that sales policy of enterprises should rely on their respective marketing strategies, viewed as a set of tactical measures and actions to generate demand. To understand the root causes and prerequisites for the active use of sales promotion instruments in the marketing promotion mix, their core benefits and limitations have been exposed. Among a vast range of sales promotion tools, their common specific characteristic is the focus for gaining rapid sales growth in a short period of time. Thus, the research findings have revealed that this type of marketing communication as an element of integrated promotion strategy seems promising and effective, given the prompt and positive significant outcomes in the short term, and with careful planning and regular application it can lay a good background for a long-term brand loyalty. To achieve the most effective results from the implementation of sales promotion techniques, it is critical to develop a clear and specific sales promotion strategy that will entail information about the ultimate goal, tools, characteristics and the budget of the sales promotion mi, as well as the results from the sales program testing, monitoring and assessment.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"143 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127572859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.2
Олександр Борисович Злотенко
The paper seeks to explore a concept of enterprise economic security in the context of its investment activity. A special emphasis is put on the relationship between enterprise economic security and its performance efficiency subject to positive or negative effects from a particular environment. The state of danger is characterized by a potential threat of economic and hence investment security of an enterprise. From the perspective of enterprise investment security, internal and external threats arising from a range of systemic threats to enterprise economic security are discussed. It is proposed to consider enterprise economic security not as an absolute state but as a measure of its vulnerability from external and internal threats associated with the investment activity process. It is noted that while investing a company may attract additional funding or use internal sources of finance to generate profit. However, avoiding a threat of insufficient financing by attracting investment funds, an enterprise might face another threat, in particular a partial and, in some cases, a total loss of control over the enterprise management, resulting in a risk. It is concluded that the failure to develop universal threat mitigation techniques forces companies to use tools available to reduce the negative effects from individual impact factors, thus exposing business entities to other threats of a different nature. It is argued that investment risks are associated with other company risks, such as: the loss of a controlling block of shares, non-payment of loans, bankruptcy, loss of control over production and sales, loss of management control, loss of objects of property and non-property rights, loss of fixed assets, technological lag, loss of competitiveness, etc. The findings suggest that making relevant management decisions consistent with investment objectives is critical in ensuring the overall enterprise economic security.
{"title":"ФАКТОРИ ДЕСТАБІЛІЗУЮЧОГО ВПЛИВУ НА ПРОЦЕС ЗДІЙСНЕННЯ ІНВЕСТИЦІЙНОЇ ДІЯЛЬНОСТІ ПРОМИСЛОВИХ ПІДПРИЄМСТВ","authors":"Олександр Борисович Злотенко","doi":"10.30857/2413-0117.2019.1.2","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.2","url":null,"abstract":"The paper seeks to explore a concept of enterprise economic security in the context of its investment activity. A special emphasis is put on the relationship between enterprise economic security and its performance efficiency subject to positive or negative effects from a particular environment. The state of danger is characterized by a potential threat of economic and hence investment security of an enterprise. From the perspective of enterprise investment security, internal and external threats arising from a range of systemic threats to enterprise economic security are discussed. It is proposed to consider enterprise economic security not as an absolute state but as a measure of its vulnerability from external and internal threats associated with the investment activity process. It is noted that while investing a company may attract additional funding or use internal sources of finance to generate profit. However, avoiding a threat of insufficient financing by attracting investment funds, an enterprise might face another threat, in particular a partial and, in some cases, a total loss of control over the enterprise management, resulting in a risk. It is concluded that the failure to develop universal threat mitigation techniques forces companies to use tools available to reduce the negative effects from individual impact factors, thus exposing business entities to other threats of a different nature. It is argued that investment risks are associated with other company risks, such as: the loss of a controlling block of shares, non-payment of loans, bankruptcy, loss of control over production and sales, loss of management control, loss of objects of property and non-property rights, loss of fixed assets, technological lag, loss of competitiveness, etc. The findings suggest that making relevant management decisions consistent with investment objectives is critical in ensuring the overall enterprise economic security.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131351769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-05DOI: 10.30857/2413-0117.2019.1.6
Олена Дмитрівна Гуліна, Олена Михайлівна Ніфатова
The paper discusses a range of theoretical aspects related to marketing research of integrated structures with a focus on their specifics within vulnerable market environment. Insights are provided on the above marketing research concept evolution stages that entail the research topic definition, setting a goal and objectives, constructing working hypotheses, identifying the project team and the budget for accomplishing the research. According to the plan of this study, it is estimated that a demand research is to be performed through testing the working hypotheses which provide a rationale for each particular state of demand. It is argued that marketing research should be carried out subject to different types of demand (full demand, potential demand, lack of demand, negative demand, unstable demand, excess demand). The findings demonstrate that in the context of integrated structures marketing research substantiation should take into account the specific market-driven factors and peculiarities of marketing data processing system. Integrated structures can combine the functioning areas of participating enterprises that operate within the same level of the technological chain (horizontal integration) or at different levels (vertical integration). Integrated structures may potentially include companies focusing on raw materials, manufacturing, trade enterprises, research organizations and financial institutions. This study attempts to substantiate the expediency of applying the concept of marketing research on demand for products of integrated corporate structures. It is emphasized that the results of marketing research are the primary and critical information source for enterprises in developing and shaping their marketing strategies. Within the integrated structure framework, product demand analysis can be performed for a number of different demand types simultaneously, since the demand for products of individual structural units of a cluster is not homogeneous and cannot be characterized by a single general state. While selecting the research options under change of conditions, marketing research should be guided first and foremost by common corporate goals.
{"title":"ОСОБЛИВОСТІ МАРКЕТИНГОВИХ ДОСЛІДЖЕНЬ ІНТЕГРОВАНИХ СТРУКТУР","authors":"Олена Дмитрівна Гуліна, Олена Михайлівна Ніфатова","doi":"10.30857/2413-0117.2019.1.6","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.1.6","url":null,"abstract":"The paper discusses a range of theoretical aspects related to marketing research of integrated structures with a focus on their specifics within vulnerable market environment. Insights are provided on the above marketing research concept evolution stages that entail the research topic definition, setting a goal and objectives, constructing working hypotheses, identifying the project team and the budget for accomplishing the research. According to the plan of this study, it is estimated that a demand research is to be performed through testing the working hypotheses which provide a rationale for each particular state of demand. It is argued that marketing research should be carried out subject to different types of demand (full demand, potential demand, lack of demand, negative demand, unstable demand, excess demand). The findings demonstrate that in the context of integrated structures marketing research substantiation should take into account the specific market-driven factors and peculiarities of marketing data processing system. Integrated structures can combine the functioning areas of participating enterprises that operate within the same level of the technological chain (horizontal integration) or at different levels (vertical integration). Integrated structures may potentially include companies focusing on raw materials, manufacturing, trade enterprises, research organizations and financial institutions. This study attempts to substantiate the expediency of applying the concept of marketing research on demand for products of integrated corporate structures. It is emphasized that the results of marketing research are the primary and critical information source for enterprises in developing and shaping their marketing strategies. Within the integrated structure framework, product demand analysis can be performed for a number of different demand types simultaneously, since the demand for products of individual structural units of a cluster is not homogeneous and cannot be characterized by a single general state. While selecting the research options under change of conditions, marketing research should be guided first and foremost by common corporate goals.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122623197","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-31DOI: 10.30857/2413-0117.2019.3.3
Ірина Павлівна Отенко, Олена В. Птащенко
The paper explores the key approaches to shaping the methodology for the study of high technology international marketing. The theoretical background for the presented paradigm of high technology international marketing is the synthesis of the following concepts and theories: the informatization theory; the globalization theory; the property rights theory; the high-tech manufacturing concept; the concept of environmentally friendly goods and services; social and ethical marketing concept; the concept of high-tech marketing; the concept of knowledge economy; the concept of sustainable development; the marketing concept. Given the high complexity and challenges in managing a high-tech business development, a number of basic approaches have been suggested, in particular: systemic, functional, integrated, communication and information-based, dynamic and strategic. The basic principles of international high-tech marketing development have been identified, i.e. unity; proportionality; optimal correlation; adequacy; identity; objectivity; thoroughness; flexibility; levelling; disclosure and duality. The main research hypothesis presented argues that international high technology marketing facilitates a mechanism for ensuring the development of high-tech industries and successfully contributes to boosting the processes of globalization and integration within the Ukraine’s economy.
{"title":"МЕТОДОЛОГІЧНІ ОСНОВИ ДОСЛІДЖЕННЯ МІЖНАРОДНОГО МАРКЕТИНГУ ВИСОКИХ ТЕХНОЛОГІЙ","authors":"Ірина Павлівна Отенко, Олена В. Птащенко","doi":"10.30857/2413-0117.2019.3.3","DOIUrl":"https://doi.org/10.30857/2413-0117.2019.3.3","url":null,"abstract":"The paper explores the key approaches to shaping the methodology for the study of high technology international marketing. The theoretical background for the presented paradigm of high technology international marketing is the synthesis of the following concepts and theories: the informatization theory; the globalization theory; the property rights theory; the high-tech manufacturing concept; the concept of environmentally friendly goods and services; social and ethical marketing concept; the concept of high-tech marketing; the concept of knowledge economy; the concept of sustainable development; the marketing concept. Given the high complexity and challenges in managing a high-tech business development, a number of basic approaches have been suggested, in particular: systemic, functional, integrated, communication and information-based, dynamic and strategic. The basic principles of international high-tech marketing development have been identified, i.e. unity; proportionality; optimal correlation; adequacy; identity; objectivity; thoroughness; flexibility; levelling; disclosure and duality. The main research hypothesis presented argues that international high technology marketing facilitates a mechanism for ensuring the development of high-tech industries and successfully contributes to boosting the processes of globalization and integration within the Ukraine’s economy.","PeriodicalId":217561,"journal":{"name":"Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126986847","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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