Pub Date : 2023-01-01DOI: 10.32983/2222-4459-2023-9-241-248
Olha V. Рopelo, Maksym V. Dubyna, Artem V. Tarasenko
The development of innovative information technologies in the modern world has become a necessity for improving the efficiency of activities of financial institutions and improving the quality of financial services provided to economic agents. The State plays an important role in creating a favorable environment for the implementation of such technologies. However, the introduction of innovative technologies by financial institutions is associated with risks that require the State-based regulation to ensure the stability and reliability of functioning of a financial system. The article discusses the issues of improving the State-based regulation of the processes of development and introduction of information and innovative technologies by financial institutions in Ukraine. Particular attention is paid to the substantiation of the need for such regulation. It is determined that the construction of a model of such regulation should be based on the balance of interests of financial institutions, their desire to implement digital technologies for their own development, on the one hand and, on the other hand, their clients, who want to be sure that their personalized information will not be made public to third parties thus leading to a loss of financial resources. The article fragmentarily analyzes the current trends in the development of banking and non-bank financial institutions, describes the transformation processes that have taken place in the model of the State-based regulation of financial institutions in Ukraine. As a result, taking into account the current objective processes of digitalization of both the activities of financial institutions and public authorities that regulate them, measures for the formation and ensuring the effectiveness of the State-based regulation on the introduction of information and communication technologies by financial institutions are proposed, namely: creation of a transparent and open regulatory environment; ensuring a high level of cybersecurity and protection of the customers’ personal data; promoting active cooperation between the State-based regulators, financial institutions, and public organizations for the development and implementation of innovative solutions in the field of balanced use of such technologies.
{"title":"The State-Based Regulation of the Development of Innovative Information Technologies in the Sphere of Financial Services","authors":"Olha V. Рopelo, Maksym V. Dubyna, Artem V. Tarasenko","doi":"10.32983/2222-4459-2023-9-241-248","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-9-241-248","url":null,"abstract":"The development of innovative information technologies in the modern world has become a necessity for improving the efficiency of activities of financial institutions and improving the quality of financial services provided to economic agents. The State plays an important role in creating a favorable environment for the implementation of such technologies. However, the introduction of innovative technologies by financial institutions is associated with risks that require the State-based regulation to ensure the stability and reliability of functioning of a financial system. The article discusses the issues of improving the State-based regulation of the processes of development and introduction of information and innovative technologies by financial institutions in Ukraine. Particular attention is paid to the substantiation of the need for such regulation. It is determined that the construction of a model of such regulation should be based on the balance of interests of financial institutions, their desire to implement digital technologies for their own development, on the one hand and, on the other hand, their clients, who want to be sure that their personalized information will not be made public to third parties thus leading to a loss of financial resources. The article fragmentarily analyzes the current trends in the development of banking and non-bank financial institutions, describes the transformation processes that have taken place in the model of the State-based regulation of financial institutions in Ukraine. As a result, taking into account the current objective processes of digitalization of both the activities of financial institutions and public authorities that regulate them, measures for the formation and ensuring the effectiveness of the State-based regulation on the introduction of information and communication technologies by financial institutions are proposed, namely: creation of a transparent and open regulatory environment; ensuring a high level of cybersecurity and protection of the customers’ personal data; promoting active cooperation between the State-based regulators, financial institutions, and public organizations for the development and implementation of innovative solutions in the field of balanced use of such technologies.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135560498","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-9-174-185
Anastasiia O. Kurnosenko, Hanna V. Sytnyk
The negative nature of social capital, formed in the field of entrepreneurship, has a bad effect on the reputational component of the Ukrainian economy. At the same time, the unresolved issue of quantitative assessment of the social capital of enterprise makes it impossible to clearly identify its condition, problem areas and the formation of a management system. The aim of the work is to determine the structure and key indicators of the social capital of enterprise; to carry out an assessment of social capital of enterprises of Ukraine on the basis of the proposed methodology; to obtain practical results for further formation of the system of management of social capital of enterprise. The study was based on the principles of system approach and was carried out on the basis of a questionnaire survey using methods of analysis and synthesis, logical generalization, tabular and graphical methods of presenting information, as well as the method of grouping and systematization. A critical analysis of the literature on the issues under study allowed to allocate some comments on the existing proposals for assessing the social capital of enterprise: most of the indicators are data from a questionnaire survey; combining human capital and social capital indicators; too many indicators, which makes the assessment process quite time-consuming, etc. Taking into account the existing proposals of scientists and critical remarks on them, the authors have formed their own approach to assessing the state and efficiency of the social capital of enterprise, which is based on the following principles: hierarchy, structuring, dynamism, generalization, consistency, balance, integration and complexity. The current approach is more structured and succinctly describes the key system of indicators by assessment levels. The division of the social capital of the enterprise into states (potential or realized) allows to assess the impact of the social capital of the enterprise on the results of activity. The assessment is reduced to a complex indicator, but at the same time allows us to analyze individual components and structural levels of social capital. In the prospect of implementing this approach at the enterprise, we consider it expedient to ask some of the questions to employees, for example, regarding their views on trust in the team, and compare the answers obtained. Own observations show that employees often estimate the same situation differently, which leads to the deformation of social capital at the enterprise. In general, the obtained results are an important information source for the development of a system for managing the social capital of enterprise, which will be the subject of further scientific research by the authors.
{"title":"Assessing the State and Efficiency of Social Capital of Ukrainian Enterprises","authors":"Anastasiia O. Kurnosenko, Hanna V. Sytnyk","doi":"10.32983/2222-4459-2023-9-174-185","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-9-174-185","url":null,"abstract":"The negative nature of social capital, formed in the field of entrepreneurship, has a bad effect on the reputational component of the Ukrainian economy. At the same time, the unresolved issue of quantitative assessment of the social capital of enterprise makes it impossible to clearly identify its condition, problem areas and the formation of a management system. The aim of the work is to determine the structure and key indicators of the social capital of enterprise; to carry out an assessment of social capital of enterprises of Ukraine on the basis of the proposed methodology; to obtain practical results for further formation of the system of management of social capital of enterprise. The study was based on the principles of system approach and was carried out on the basis of a questionnaire survey using methods of analysis and synthesis, logical generalization, tabular and graphical methods of presenting information, as well as the method of grouping and systematization. A critical analysis of the literature on the issues under study allowed to allocate some comments on the existing proposals for assessing the social capital of enterprise: most of the indicators are data from a questionnaire survey; combining human capital and social capital indicators; too many indicators, which makes the assessment process quite time-consuming, etc. Taking into account the existing proposals of scientists and critical remarks on them, the authors have formed their own approach to assessing the state and efficiency of the social capital of enterprise, which is based on the following principles: hierarchy, structuring, dynamism, generalization, consistency, balance, integration and complexity. The current approach is more structured and succinctly describes the key system of indicators by assessment levels. The division of the social capital of the enterprise into states (potential or realized) allows to assess the impact of the social capital of the enterprise on the results of activity. The assessment is reduced to a complex indicator, but at the same time allows us to analyze individual components and structural levels of social capital. In the prospect of implementing this approach at the enterprise, we consider it expedient to ask some of the questions to employees, for example, regarding their views on trust in the team, and compare the answers obtained. Own observations show that employees often estimate the same situation differently, which leads to the deformation of social capital at the enterprise. In general, the obtained results are an important information source for the development of a system for managing the social capital of enterprise, which will be the subject of further scientific research by the authors.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135560692","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-9-117-122
Tetiana V. Shabelnyk
The aim of the publication is to develop a method of hierarchy analysis for choosing the optimal market strategy for the development of a pharmaceutical enterprise. The article substantiates the need for continuous improvement of the decision support system of a pharmaceutical enterprise, which operates in conditions of constant changes in the external environment, to ensure the processes of continuous and stable growth of the enterprise. The main components of the external destabilizing factors of the modern pharmaceutical market, which require the introduction of special mechanisms for ensuring the continuity of the process of managerial changes for the contemporary domestic pharmaceutical enterprises, have been allocated. It is determined that one of the effective mechanisms for choosing the optimal market strategy for the development of a pharmaceutical enterprise is the method of analytical hierarchy as one that is simple in terms of mathematical tools and at the same time gives consistency to the conclusions obtained. The key strategies for the development of a pharmaceutical enterprise include: expanding the range of export-oriented pharmaceutical products; expanding the range of generic pharmaceutical products for sale in the domestic market; building own network of pharmacies for the retail sale of pharmaceuticals both of own production and of other manufacturers. The main indicators of efficiency of the pharmaceutical enterprise in the modern market environment are defined as follows: increase in marginal income; stability of functioning and strengthening of competitiveness; share of the additional sales market. The practical implementation of the method of analytical hierarchy for choosing the optimal market strategy for development is carried out on the example of PJSC «Fitofarm» as a pharmaceutical production and trade enterprise, which occupies a leading position in the pharmaceutical market of Ukraine and needs to maintain and improve it, taking into consideration the influence of modern challenges
{"title":"The Method of Hierarchy Analysis as a Mechanism for Choosing a Development Strategy for a Pharmaceutical Enterprise","authors":"Tetiana V. Shabelnyk","doi":"10.32983/2222-4459-2023-9-117-122","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-9-117-122","url":null,"abstract":"The aim of the publication is to develop a method of hierarchy analysis for choosing the optimal market strategy for the development of a pharmaceutical enterprise. The article substantiates the need for continuous improvement of the decision support system of a pharmaceutical enterprise, which operates in conditions of constant changes in the external environment, to ensure the processes of continuous and stable growth of the enterprise. The main components of the external destabilizing factors of the modern pharmaceutical market, which require the introduction of special mechanisms for ensuring the continuity of the process of managerial changes for the contemporary domestic pharmaceutical enterprises, have been allocated. It is determined that one of the effective mechanisms for choosing the optimal market strategy for the development of a pharmaceutical enterprise is the method of analytical hierarchy as one that is simple in terms of mathematical tools and at the same time gives consistency to the conclusions obtained. The key strategies for the development of a pharmaceutical enterprise include: expanding the range of export-oriented pharmaceutical products; expanding the range of generic pharmaceutical products for sale in the domestic market; building own network of pharmacies for the retail sale of pharmaceuticals both of own production and of other manufacturers. The main indicators of efficiency of the pharmaceutical enterprise in the modern market environment are defined as follows: increase in marginal income; stability of functioning and strengthening of competitiveness; share of the additional sales market. The practical implementation of the method of analytical hierarchy for choosing the optimal market strategy for development is carried out on the example of PJSC «Fitofarm» as a pharmaceutical production and trade enterprise, which occupies a leading position in the pharmaceutical market of Ukraine and needs to maintain and improve it, taking into consideration the influence of modern challenges","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135559413","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-8-114-121
Oleksandr V. Bulakh
Artificial intelligence and machine learning have had a significant impact on e-commerce, allowing companies to analyze large amounts of data and make managerial decisions more efficiently. These technologies improve customer experience, sales, profitability, and business processes of companies in the industry. The aim of the article is to identify the key challenges for the e-commerce business in the part of artificial intelligence and machine learning with the formation of ways to overcome them. The article examines the key areas of influence of artificial intelligence and machine learning technologies on the state of e-commerce. It is noted that e-commerce has a significant weight in today’s global economy, as the global e-commerce market is projected to reach $6.4 trillion by 2024. The article also notes the existing gap between the developed models and their practical application in the industry due to their insufficient understanding by business, high costs and potential bias in the models. It is specified that the widespread use of algorithms can lead to undesirable consequences, i. e., it is extremely important to continue to develop models and create a framework for assessing their value and advantages in practical application. It is observed that ethical considerations are crucial when using artificial intelligence in e-commerce, as advertising personalization practices can violate privacy principles and manipulate customer behavior. An analysis of potential security measures that e-commerce companies can take in response to the risks of new technologies, such as data misuse or privacy breaches, is carried out. The key role of the expert function in the effective adaptation of new technologies in the industry is emphasized. The proposed study can be used in the work of e-commerce market analysts, specialized researchers, business associations, and other industry stakeholders. Prospects for further research involve studying the economic effect of the application of the researched technologies for companies in the field of e-commerce.
{"title":"The Global Impact of Artificial Intelligence and Machine Learning on the Efficiency of e-Commerce","authors":"Oleksandr V. Bulakh","doi":"10.32983/2222-4459-2023-8-114-121","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-8-114-121","url":null,"abstract":"Artificial intelligence and machine learning have had a significant impact on e-commerce, allowing companies to analyze large amounts of data and make managerial decisions more efficiently. These technologies improve customer experience, sales, profitability, and business processes of companies in the industry. The aim of the article is to identify the key challenges for the e-commerce business in the part of artificial intelligence and machine learning with the formation of ways to overcome them. The article examines the key areas of influence of artificial intelligence and machine learning technologies on the state of e-commerce. It is noted that e-commerce has a significant weight in today’s global economy, as the global e-commerce market is projected to reach $6.4 trillion by 2024. The article also notes the existing gap between the developed models and their practical application in the industry due to their insufficient understanding by business, high costs and potential bias in the models. It is specified that the widespread use of algorithms can lead to undesirable consequences, i. e., it is extremely important to continue to develop models and create a framework for assessing their value and advantages in practical application. It is observed that ethical considerations are crucial when using artificial intelligence in e-commerce, as advertising personalization practices can violate privacy principles and manipulate customer behavior. An analysis of potential security measures that e-commerce companies can take in response to the risks of new technologies, such as data misuse or privacy breaches, is carried out. The key role of the expert function in the effective adaptation of new technologies in the industry is emphasized. The proposed study can be used in the work of e-commerce market analysts, specialized researchers, business associations, and other industry stakeholders. Prospects for further research involve studying the economic effect of the application of the researched technologies for companies in the field of e-commerce.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135908015","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-8-138-148
Yuliia Yu. Kolomiiets, Valeriia Yu. Kochorba
The article is devoted to the study of the issue of banks’ risk management. Risk management is a complex but necessary process to ensure the financial stability of banks. Research and assessment of banks’ risks helps banks understand and manage risks, make more informed decisions about granting loans, investing and other operations. Risk modeling is an important part of risk management in banks, so the article proposes improving the methodology for assessing the level of risks of banking activities, which, on the basis of forecasting methods and simulation modeling, allows to improve the validity and quality of managerial decisions in the field of management of financial activities of a bank. The task of risk assessment is a central element of the risk management system in banks. In order to improve the methodological base, the article proposes a conceptual scheme of modeling the risks of banking activity, which includes four blocks: development of currency risk assessment models; development of credit risk assessment models; stress testing of banking risks; making decisions to stabilize the financial condition of the bank in each of the proposed scenarios of modeling the risks of banks’ activity. In accordance with this, on the basis of the carried out study of the bank’s financial statements and methods of assessment and analysis of risks of banking activity, the following simulation models have been developed: a model for assessing the level of currency risk; a model for assessing credit risk and determining the amount of its reserve according to national and international standards; a complex risk assessment model. After building and examining the models, the methods of system dynamics were used, namely: simulation modeling, stress testing, and sensitivity analysis. Simulation modeling has become an effective tool for studying the risks of banking activities, as it made it possible to create virtual models of banking operations and test them on various risk scenarios. Stress testing allowed to study the impact of shock events on the financial stability of the bank. Sensitivity analysis was used to identify the most sensitive parameters of the model and to determine how changing these parameters affects the model results.
{"title":"Risk Modeling of Banking Activities","authors":"Yuliia Yu. Kolomiiets, Valeriia Yu. Kochorba","doi":"10.32983/2222-4459-2023-8-138-148","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-8-138-148","url":null,"abstract":"The article is devoted to the study of the issue of banks’ risk management. Risk management is a complex but necessary process to ensure the financial stability of banks. Research and assessment of banks’ risks helps banks understand and manage risks, make more informed decisions about granting loans, investing and other operations. Risk modeling is an important part of risk management in banks, so the article proposes improving the methodology for assessing the level of risks of banking activities, which, on the basis of forecasting methods and simulation modeling, allows to improve the validity and quality of managerial decisions in the field of management of financial activities of a bank. The task of risk assessment is a central element of the risk management system in banks. In order to improve the methodological base, the article proposes a conceptual scheme of modeling the risks of banking activity, which includes four blocks: development of currency risk assessment models; development of credit risk assessment models; stress testing of banking risks; making decisions to stabilize the financial condition of the bank in each of the proposed scenarios of modeling the risks of banks’ activity. In accordance with this, on the basis of the carried out study of the bank’s financial statements and methods of assessment and analysis of risks of banking activity, the following simulation models have been developed: a model for assessing the level of currency risk; a model for assessing credit risk and determining the amount of its reserve according to national and international standards; a complex risk assessment model. After building and examining the models, the methods of system dynamics were used, namely: simulation modeling, stress testing, and sensitivity analysis. Simulation modeling has become an effective tool for studying the risks of banking activities, as it made it possible to create virtual models of banking operations and test them on various risk scenarios. Stress testing allowed to study the impact of shock events on the financial stability of the bank. Sensitivity analysis was used to identify the most sensitive parameters of the model and to determine how changing these parameters affects the model results.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"116 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135908022","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-7-219-224
Iryna O. Poita, Iryna V. Mosiichuk, Olena O. Kalinichenko
The article is aimed at studying and evaluating the current trends in digital marketing, as well as defining prospects for its development in Ukraine. The article analyzes the current state and perspective directions of development of digital marketing in Ukraine. The theoretical bases of digital marketing are considered; the use of its instruments is analyzed; the main trends and peculiarities of their implementation are examined. The application of marketing complex (4P) in the Internet is studied and analyzed. It is found that the level of efficiency and flexibility of development of digital marketing largely depends on how quickly an enterprise adapts to changes in the external environment and uses its internal potential. It is determined that enterprises and organizations, regardless of their size, form of ownership and sphere of activity, are forced to move to the online plane of doing business in order not to lose competitive positions in the market, develop connections, effectively promote their products and communicate with their real and potential consumers. The article analyzes the methods of optimization of enterprises in different spheres of activity, which have actively begun to develop their channels of digital promotion. The advantages of using digital marketing are given, including: priority of obtaining information; attracting a wide audience; repetitiveness of advertising information; low costs compared to other marketing instruments; the ability to analyze financial income and expenses. Enterprises are invited to abandon the traditional approach to marketing in favor of speed and efficiency of decision-making, use of social networks, timeliness of obtaining information, all this is possible when using digital marketing. Conclusions are drawn about the rapid development and transformation of digital marketing with the beginning of the COVID-19 pandemic and onset of the war in Ukraine.
{"title":"Digital Marketing: The Current State and Prospects for Development in Ukraine","authors":"Iryna O. Poita, Iryna V. Mosiichuk, Olena O. Kalinichenko","doi":"10.32983/2222-4459-2023-7-219-224","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-7-219-224","url":null,"abstract":"The article is aimed at studying and evaluating the current trends in digital marketing, as well as defining prospects for its development in Ukraine. The article analyzes the current state and perspective directions of development of digital marketing in Ukraine. The theoretical bases of digital marketing are considered; the use of its instruments is analyzed; the main trends and peculiarities of their implementation are examined. The application of marketing complex (4P) in the Internet is studied and analyzed. It is found that the level of efficiency and flexibility of development of digital marketing largely depends on how quickly an enterprise adapts to changes in the external environment and uses its internal potential. It is determined that enterprises and organizations, regardless of their size, form of ownership and sphere of activity, are forced to move to the online plane of doing business in order not to lose competitive positions in the market, develop connections, effectively promote their products and communicate with their real and potential consumers. The article analyzes the methods of optimization of enterprises in different spheres of activity, which have actively begun to develop their channels of digital promotion. The advantages of using digital marketing are given, including: priority of obtaining information; attracting a wide audience; repetitiveness of advertising information; low costs compared to other marketing instruments; the ability to analyze financial income and expenses. Enterprises are invited to abandon the traditional approach to marketing in favor of speed and efficiency of decision-making, use of social networks, timeliness of obtaining information, all this is possible when using digital marketing. Conclusions are drawn about the rapid development and transformation of digital marketing with the beginning of the COVID-19 pandemic and onset of the war in Ukraine.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134887561","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-7-128-134
Yuliya O. Harkusha
The article highlights the theoretical and practical foundations of management of international reserves of both Ukraine and Poland. The article characterizes the system of elements of management of international reserves of the National Bank of Ukraine, which include: goals and principles of management; organizational structure of management; risks of operations with international reserves; risk assessment. The stages of management of international reserves of the National Bank of Poland are allocated and characterized, the relevant structures are defined. It is noted that in the process of managing foreign exchange reserves in Poland, decisions are made and implemented directly by the central bank of the country, without the participation of external asset managing institutions. The investment process is based on guidelines approved by the Board of the National Bank of Poland, including a set of norms, regulations and procedures, in particular on the decision-making process, permissible asset classes, as well as rules for financial risk management, including the establishment of credit limits and criteria for selecting a contractor. The structure of international reserves of both the National Bank of Ukraine and the National Bank of Poland is analyzed in terms of currencies. The value of gold and the share of gold in the international reserves of the National Bank of Ukraine and the National Bank of Poland are evaluated in dynamics. On the basis of the carried out study, conclusions were drawn and concrete proposals were formulated for improving the process of managing international reserves, taking into account international experience, namely: to optimize the structure of international reserves by diversifying it and expanding the list of reserve currencies; to increase the share of monetary gold as a reliable asset; to expand the direction of investing international reserves, in particular, to consider the possibility of investing in securities of countries that demonstrate sustainable development of their economies.
{"title":"International Reserves: The Experience of Ukraine and Poland","authors":"Yuliya O. Harkusha","doi":"10.32983/2222-4459-2023-7-128-134","DOIUrl":"https://doi.org/10.32983/2222-4459-2023-7-128-134","url":null,"abstract":"The article highlights the theoretical and practical foundations of management of international reserves of both Ukraine and Poland. The article characterizes the system of elements of management of international reserves of the National Bank of Ukraine, which include: goals and principles of management; organizational structure of management; risks of operations with international reserves; risk assessment. The stages of management of international reserves of the National Bank of Poland are allocated and characterized, the relevant structures are defined. It is noted that in the process of managing foreign exchange reserves in Poland, decisions are made and implemented directly by the central bank of the country, without the participation of external asset managing institutions. The investment process is based on guidelines approved by the Board of the National Bank of Poland, including a set of norms, regulations and procedures, in particular on the decision-making process, permissible asset classes, as well as rules for financial risk management, including the establishment of credit limits and criteria for selecting a contractor. The structure of international reserves of both the National Bank of Ukraine and the National Bank of Poland is analyzed in terms of currencies. The value of gold and the share of gold in the international reserves of the National Bank of Ukraine and the National Bank of Poland are evaluated in dynamics. On the basis of the carried out study, conclusions were drawn and concrete proposals were formulated for improving the process of managing international reserves, taking into account international experience, namely: to optimize the structure of international reserves by diversifying it and expanding the list of reserve currencies; to increase the share of monetary gold as a reliable asset; to expand the direction of investing international reserves, in particular, to consider the possibility of investing in securities of countries that demonstrate sustainable development of their economies.","PeriodicalId":53291,"journal":{"name":"Biznes Inform","volume":"241 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134887563","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 : 2023-01-01DOI: 10.32983/2222-4459-2023-8-309-315
Olha S. Shumilo, Ganna V. Ievtushenko, Danylo O. Karetin
The article carries out a study of the theoretical foundations of marketing management of enterprise. The stages of development of marketing management have been studied, its three stages have been specified. A comparative analysis of the scientific definitions of the concept of «marketing management» is carried out, while it has been determined that there is no single understanding of the essence of the concept. Marketing management is understood as: a component of the overall management process at the enterprise; the process of analysis, planning, implementation and control; the process of identifying target markets in order to implement pricing policies, promote and distribute ideas, products, and services; the process of coordination and formation; planning process; social process; the process of achieving goals, managing all functions of the enterprise; a dynamic system with modern features and trends in development. The components of marketing management have been defined as follows: management, marketing, economics. It is noted that marketing management is manifested in the management of the enterprise’s activities, in demand and function. It is proved that the interconnection of management and marketing functions occurs in the process of functioning of enterprise through the implementation of marketing management functions. Methods of marketing management are classified into economic; organizational and administrative, social. The subject, object and main tasks of marketing management are defined. It is noted that marketing management is based on a certain group of principles: general (on which any management is based) and specific (belonging only to marketing management). It is also noted that the essence of marketing management is disclosed in its goals, which are divided into qualitative (formed in accordance with the company’s activities in order to satisfy the consumer) and quantitative (which are set to achieve the financial results of the enterprise, they are indicators of performance).
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