MODELING THE DEVELOPMENT OF THE ECONOMIC SYSTEMS

DETERMINATION OF STRATEGIC GUIDELINES OF THE REGIONAL POLICY FOR IMPROVING THE REGION'S INVESTMENT ENVIRONMENT

Ruslan BOIKO — 2025-02-27

In the study, the attention to the problems of formation and implementation of regional investment policy is updated. The purpose of the article is to identify the strategic guidelines of the regional policy of improving the investment environment of the region. It is argued that the regions of Ukraine, including the rear and the Lviv region in particular, in the conditions of military aggression and total destabilization of the economy, experience an acute lack of financial resources to guarantee economic security and development, which actualizes the issue of improving mechanisms for attracting foreign investments, search for new sources of investment infusions, improvement of the financial and economic environment of the country and its regions. It has been proven that taking into account the development potential of the region is critically important when forming a proactive regional investment policy, because it allows defining a coherent and consistent strategy aimed at economic and social growth, strengthening the security and stability of territories in the face of the latest challenges. Strategic solutions are indicated, the practical approbation of which will improve the investment environment of the region. The possibilities of investment development of the region are shown, as well as its threats are identified, among which the need to overcome and eliminate such threats to the further development of investment processes in the region is emphasized. These are: the prolongation of the war and the aggravation of security challenges; demographic crisis, depopulation of territories, loss of human capital; tinization and withdrawal of capital from the country; high level of external migration activity of business; loss of basic components of innovative and technological potential; strengthening of structural and spatial disparities, sectoral and sectoral disintegration; socio-political uncertainty, preservation of institutional instability.

FORMATION OF THE MANAGEMENT MECHANISM OF INNOVATIVELY ORIENTED PHARMACEUTICAL ENTERPRISES

Nataliya PROKOPENKO — 2025-02-27

The article argues the study of the essence of the mechanism of management of innovative development, based on the fundamental principles and regularities of this process. It contributes to the improvement of existing theories of innovation management and the development of new conceptual approaches that take into account modern conditions. From a practical point of view, such research allows you to create effective models of innovation management that can be used to develop strategies for the development of enterprises and industries including pharmaceuticals, as a high-tech field.

It has been found that in the modern theory of management, the concept of "mechanism" is used to designate a system complex of elements, the interaction of which ensures the achievement of the set management goals. It is fundamental in understanding the principles and processes of organization and coordination of activities of both individual departments and the enterprise as a whole. In the context of management, a mechanism is a kind of architecture that integrates resources, tools, methods and management decisions into a single functional system.

The unified functional management system is detailed in the context of the mechanism of functioning of innovation-oriented enterprises in the high-tech sphere. Achieving an efficient system management as a functional mechanism, taking into account its internal and external characteristics including pharmaceuticals, as a high-tech field. The existing theoretical and practical methods of determining the components of the management mechanism of innovation-oriented enterprises are systematised and analysed, and the need to study the mechanism of management of high-tech enterprises is established. It is argued that the innovative development of enterprises is becoming not only a factor in increasing their productivity, but also a tool for solving global challenges, such as climate change, digitalisation, energy transformation, etc. In this regard, the mechanism of management of innovative development should take into account not only economic, but also social, environmental and technological aspects, which requires deep theoretical justification and practical recommendations.

It has been studied in a practical aspect that enterprises often face problems during the implementation of innovative projects. Among them, one can highlight the lack of financial resources, resistance to change from personnel, insufficient integration of innovations into strategic plans, weak interaction with external partners, etc. The study of the essence of the management mechanism will allow for the formation of tools that will help enterprises overcome these barriers and enhance the efficiency of innovation activities. Furthermore, the mechanism for managing innovative development is a dynamic system that is constantly changing under the influence of new challenges and opportunities. For example, in the modern world, digital technologies play an important role, changing the nature of innovation activities. Exploring the essence of this mechanism will allow us to consider current trends, such as automation, the use of big data, artificial intelligence, and blockchain, which open up new opportunities for enterprises.

PUBLIC WELFARE: POST-WAR RECONSTRUCTION OF UKRAINE

Iryna KRAVETS — 2025-02-27

The article reveals the essence of social welfare, its components, factors of formation and ways of ensuring it. Social welfare, as a positive physical, social and mental state of the population in the state, is impossible without solving the problem of post-war reconstruction of Ukraine. Social welfare is a complex manifestation of socio-economic reality, which requires the application of adequate approaches to its provision, taking into account external and internal challenges and threats.

It is noted that an important role in the modern globalized world is played by the strengthening of integration processes, the result of which is the construction of a new holistic system focused on social welfare. The situation on the political and military fronts in Ukraine has significantly influenced the vision of citizens regarding the development of integration processes in our country in the direction of the country's membership in the EU.

European integration processes involve an orientation towards progressive civilizational values and principles, which becomes especially relevant given the need for military development in Ukraine and an increase in the level and quality of life of the population. It was emphasized that in the post-war reconstruction of Ukraine, the main task is to restore and develop economic opportunities, which will form the foundation for social development and increased well-being of the population. Among Ukraine's goals is to support reforms that meet European standards in many social areas.

It was noted that on the path to European integration, it is also necessary to preserve and develop those achievements that already exist in Ukraine and that contribute to the formation of a favorable living environment.. The post-war recovery of Ukraine is closely related to the creation of favorable conditions for the formation of social welfare, human development, and ensuring sustainable development in general, based on the effective use of the unique national potential and social responsibility of an individual, business, and the state.

STRATEGIC MANAGEMENT AS A TOOL FOR ENSURING THE STABLE DEVELOPMENT OF THE ENTERPRISE

Iryna BILETSKA — 2025-02-27

The article substantiates the importance of implementing strategic management at enterprises in view of the need to constantly solve a number of key tasks in ensuring stable development. It is emphasized the need to implement the principles of analysis, initiation, design and others, the observance of which involves the transition of the enterprise management system from current and operational regulation to strategic, including the development of plans, forecasts or other strategic documents. The key elements of strategic management to ensure the stable development of the enterprise are defined - analysis of the external environment, analysis of internal opportunities, strategic planning of competitive positions, analysis of the influence of factors on strategic development, constant updating of the strategic management system. It has been proven that strategic management is a key tool for ensuring the stable development of an enterprise, as it allows you to determine long-term goals and means for adapting to a changing business environment, effectively use your resources and achieve competitive advantages. It is substantiated that in the conditions of constant changes in the external environment, strategic management helps to ensure stability and growth even in difficult and unpredictable conditions. Clearly, there is no universal strategy, and each enterprise must create its own model of change to ensure sustainable development. Thus, the system of strategic management should be dynamic, integrated and aimed at ensuring the stable and sustainable development of the enterprise in the conditions of a constantly changing market. It is important that in order to ensure stable development, the management of the enterprise should focus on the development of tools in accordance with specific conditions, taking into account the specifics of the industry, strategic goals, resources and the competitive environment.

INNOVATIVE STRATEGIES OF ORGANIZATIONAL DESIGN IN THE CONTEXT OF CHANGE

Lesia SAKUN — 2025-02-27

The article examines the impact of martial law on the organizational design and management strategies of Ukrainian enterprises, focusing on the adaptation of traditional approaches to new challenges. Martial law requires careful design of organizations' activities, clear goals, and the use of appropriate technologies that meet the new conditions: traditional methods may not be effective enough in the context of military conflicts, forcing the consideration of new strategies and approaches to organizational design. The study analyzed various methods of work redesign, including expanding responsibilities, creating autonomous workplaces, introducing quality circles, and flexible work schedules. It was found that these methods can significantly increase employee satisfaction and productivity, but to achieve optimal results, they must be adapted to the specific context of the organization, its goals, culture, and structure. Particular attention is paid to the introduction of digital tools and innovative technologies that facilitate the organizational design process. In particular, new-generation ERP systems (ERP II) allow organizations to manage resources more efficiently, integrate with contractors, and coordinate business processes. Designing business processes using the SADT, IDEF and ABC methodologies helps to improve management efficiency, optimize resources and increase the sustainability of enterprises in an unstable environment. The article also discusses the issue of efficiency in IT companies, where it is important to combine internal and external indicators. For large IT corporations, the use of social comparison with competitors remains relevant, which allows assessing efficiency by such criteria as market share, customer feedback, and the ability to quickly adapt to changes, and proves the feasibility of using an integrated method.

POTENTIAL FOR UKRAINE'S SOCIO-ECONOMIC RECOVERY: IMPACT OF MIGRATION LOSSES

OLHA MULSKA — 2025-02-27

The article presents an original methodology for assessing Ukraine’s socio-economic recovery potential based on Big Data. This methodology is grounded in an economic growth model that encompasses four key resource factors: capital, labor, innovation, and entrepreneurship. The complementary impact of youth migration losses on the country’s resource potential (financial, industrial, demographic, labor, intellectual-innovative, and entrepreneurial) and subsequent economic growth has been identified.

It has been established that Ukraine’s demographic and labor potential demonstrated an upward trend during the study period, with significant declines observed during crisis periods (2008, 2014, 2020) and critical declines during the war years (2022-2023). The empirical indicator of the ‘Labor’ resource in Ukraine decreased by 0.103 percentage points during the war period (compared to an increase of 0.032 percentage points in 2020-2021). It has been proven that the decline in labor and demographic potential has a direct dynamic impact on the socio-economic recovery potential, with a time lag of 2-3 years. It has been found that between 2005 and 2021, Ukraine’s financial potential grew at an average annual rate of 3.08 percentage points, which is three times higher than the growth rate of industrial potential. The war negatively affected the stability of the financial sector and triggered a weakening of financial potential amid limited financial, industrial, and investment resources. Between 2021 and 2023, industrial potential declined by 4.7 percentage points, while financial potential decreased by 7.9 percentage points. The financial-industrial potential has a permanent one-year impact on the socio-economic recovery potential, serving as the foundation for economic growth and ecosystem sustainability. The research findings can be used to develop recovery strategies for Ukraine and its regions, focusing on effective resource potential management in the post-crisis period.

PECULIARITIES OF FORMATION AND IMPLEMENTATION OF THE INVESTMENT STRATEGY OF ENTERPRISES AT THE REGIONAL LEVEL

Valerii BONDARENKO — 2025-02-27

In Ukraine, there are practically no scientifically based approaches to the development of a marketing strategy for agricultural enterprises, its formation and practical use in the market environment. The paper provides a list of the main types of marketing strategies that form the strategic level of an agricultural enterprise. Strategy formation is the main stage in the process of strategic management of an agricultural enterprise.

The article determines that the basis for developing a marketing development strategy should be a strategic analysis, planning and forecasting of the market potential of the industry as a dynamic characteristic which combines production and marketing capabilities, taking into account possible changes in the external environment in which an agricultural enterprise operates.

Knowing that it is important for each agricultural enterprise to choose a marketing strategy that would maximize the producer's profit, in the process of developing marketing strategies, depending on the type of development of agricultural enterprises, three interrelated tasks are identified to solve.

The article describes in detail the investment strategy, which requires periodic adjustment to take into account changing external conditions and new opportunities. The right choice of investment strategy will allow concentrating efforts and resources on realization of investment potential and effective development of an enterprise in the market conditions.

When developing an investment strategy, it is necessary to take into account the factors that influence its formation, first of all, the availability of financial resources, the ability of regional enterprises to attract external financing, the investment potential of regional enterprises and the socio-economic development of the region, we have identified the factors of formation of the investment strategy of the enterprise. And since the investment strategy should be based on the principles, the article proposes them. Also, to implement the investment strategy at the enterprises of the region, the algorithm of its implementation is presented, which includes five stages.

It is emphasized that the investment strategy for regional enterprises is an effective and modern tool for managing investment activity, which takes into account regional development features and allows coordinating the actions of federal and regional authorities, investors and representatives of business circles.

LONG-TERM EQUILIBRIUM RELATIONSHIPS BETWEEN CRYPTOCURRENCIES AND THE ENERGY MARKET

Kyrylo TROIAN — 2025-02-27

This study examines the long-run equilibrium relationships between cryptocurrency prices and energy futures by employing a comprehensive cointegration analysis. Using daily closing prices from 401 cryptocurrency series and 10 energy futures contracts, the investigation focuses on the systematic evaluation of long-term interdependencies across these distinct asset classes. Prior to analysis, stationarity was confirmed via the Augmented Dickey-Fuller test, ensuring that only series integrated of order one were considered. A series of pairwise cointegration tests was conducted, with the resulting statistics stored in a PostgreSQL database for subsequent retrieval and analysis.

The Johansen cointegration framework, a multivariate method capable of detecting multiple cointegrating relationships, was applied to the data. The analysis modeled the dynamics of asset prices in an error correction form, and the cointegration rank was determined using eigenvalue decomposition. Two test statistics, the trace and maximum eigenvalue statistics, were computed and compared against 95% critical values. The findings indicate that 1965 statistically significant cointegrated pairs were identified, corresponding to an overall cointegration rate of 49%. Notably, RBOB gasoline futures exhibited cointegration with nearly 100% of the cryptocurrency series, while the degree of cointegration varied across cryptocurrency categories, with metaverse tokens showing 100% cointegration, NFT/Gaming tokens 65.52%, stablecoins 63.46%, utility tokens 58.06%, and payment tokens 55.45%.

These results provide robust empirical evidence that, despite high short-term volatility, cryptocurrency prices are intrinsically linked to energy market dynamics. The differential cointegration across cryptocurrency categories further highlights the heterogeneous nature of digital asset markets. The findings challenge the prevailing view of cryptocurrencies as isolated speculative instruments and underscore the influence of fundamental economic factors, particularly energy costs, on long-run price behavior. The implications of this study extend to risk management, asset allocation, and the development of predictive models, thereby contributing to a more integrated understanding of digital and traditional asset markets.

FINANCIAL MANAGEMENT AS A TOOL FOR ENSURING THE EFFICIENCY OF INTERNATIONAL INVESTMENT PROJECTS IN THE CONTEXT OF GLOBALIZATION PROCESSES OF THE INTERNATIONAL ECONOMY AND FINANCIAL MARKETS

Inesa VERBITSKA — 2025-02-27

The article explores the concept of financial management as a key tool for ensuring the efficiency of international investment projects in the context of globalization processes of the international economy and financial markets. It is determined that economic globalization leads to increased integration of national markets and intensification of international capital flows, which creates both new opportunities and additional challenges for investors implementing strategies in an unstable environment. The article discusses the key financial management tools that allow for effective risk management and resource allocation in international investment projects. It has been found that financial management should take into account global flows of foreign direct investment, which are indicators of economic stability and structural changes in world markets. It is established that these flows directly affect the choice of investment projects, their risks, and profitability, and therefore require special attention when developing financial strategies. The study also showed significant fluctuations in the volume of foreign direct investment in the global context for the period 2019-2023. It is established that the COVID-19 pandemic had a negative impact on the volume of foreign direct investment, but subsequently there was a recovery in investment, although the level of 2019 was not reached. Particular attention is paid to the analysis of global indicators of foreign direct investment profitability, which are important for assessing the effectiveness of international investment projects. It is determined that high rates of return in a stable economic situation can change under the influence of geopolitical and economic challenges, such as inflation and fluctuations in financial markets. It has been found that financial management in Ukraine, as a country that is largely dependent on foreign investment, needs to be optimized to reduce the risks of capital outflow and increase investment attractiveness. The mechanisms of risk management and resource allocation adapted to global changes that help to improve the sustainability of national investment projects are considered.

MANAGEMENT OF THE FINANCIAL STABILITY OF AN ENTERPRISE IN THE MODERN CONDITIONS OF ECONOMIC DEVELOPMENT

Ivanna SYDORCHUK — 2025-02-27

The article explores the content and clarifies the essence of "financial stability of an enterprise" as a complex concept. The mechanism for managing the financial stability of an enterprise is presented in terms of five interconnected blocks. Factors that affect the effectiveness of the enterprise's activities and financial stability are considered. Directions for improving financial stability management based on improving the enterprise's financial policy are proposed.

In our opinion, the financial stability of an enterprise should be understood as the state of the sources of financial resources of the enterprise, their qualitative distribution and use, which contributes to the effective development of the business entity based on the growth of its profit and capital, provided that solvency and creditworthiness are maintained in the conditions of a possible level of financial risk. Thus, the mechanism for managing the financial stability of an enterprise can be presented as a set of interrelated blocks: elements of financial stability management ( financial methods, market mechanism, legal regulation, regulatory support, information support); goals of the management mechanism (profit growth, prevention of bankruptcy and major financial failures, consolidation of the enterprise in a certain market, improvement of the welfare of employees and management); analysis of the enterprise management policy (asset management, capital management, cash flow management, cost and sales management, financial risk management); methods and tools for managing financial stability (general economic, forecasting and analytical, special); results of financial stability management (optimization of activities, increased competitiveness, development of a financial strategy, cost reduction, increased profit).

The proposed algorithm for managing financial stability will allow the management of the enterprise to ensure the optimal level of its financial stability, based on rational management of capital, cash flows and financial risks, taking into account internal and external factors.

THE ROLE OF AGRICULTURAL ENTERPRISES LENDING IN AGRICULTURAL BUSINESS DEVELOPMENT AND ACHIEVING SUSTAINABLE DEVELOPMENT GOALS OF UKRAINE UNDER MARTIAL LAW

Katerina LARIONOVA — 2025-02-27

The article delves into the essence and challenges of managing Ukraine's sustainable development under the complex conditions of war. It emphasizes that, in light of current events, the global community is compelled to reassess the global sustainable development goals, particularly focusing on the socio-economic aspects of the development process. In the context of ensuring Ukraine's sustainable economic development, the growth of the agricultural sector and the diversification of its funding sources through effective lending mechanisms have gained critical strategic importance. The article underscores the need for robust state support for preferential lending aimed at strengthening the country’s economy and securing food security in the region. The key support programs available to agricultural producers are also identified, highlighting their role in fostering the resilience of the agricultural sector. Furthermore, the article explores the factors that underline the significance of developing a comprehensive agricultural business lending system, which is crucial for the sustainable economic development of Ukraine. The research highlights how the efficiency of credit support in the agricultural sector directly influences the pace of technological modernization, productivity enhancement, and the potential for expanding exports. These factors, in turn, shape the strategic development prospects of Ukraine’s entire agro-industrial complex, positioning it as a major player in the global food market. In addition, the article presents a series of key measures designed to improve the lending system for domestic agricultural enterprises. These measures are aimed at strengthening the capacity of agricultural businesses to adapt to the challenges posed by wartime conditions and to ensure long-term sustainability, growth, and competitiveness on both the domestic and international fronts. The findings of the article provide essential insights into the critical role of agricultural lending in Ukraine's post-war recovery and future development.

CURRENT PRIORITIES FOR IMPROVING THE INVESTMENT ATTRACTIVENESS OF THE AGRI-FOOD SECTOR OF UKRAINE

RUSLAN Zubkov — 2025-02-28

Ukraine's agri-food sector is one of the leading sectors of the national economy, and it plays a key role in ensuring the country's food security and building its export potential. Developing effective models of state support, investment attraction tools, and active promotion of Ukrainian agricultural products are key areas that can contribute to the sustainable development of the industry. Successful resolution of these tasks will allow the agricultural sector to become an important driver of Ukraine's economic growth and ensure its food independence in the face of global challenges.The study's purpose is to analyze the main directions of state support for the agri-food sector, through subsidies, tax benefits, financing, and other programs, as well as to study the role of promoting Ukrainian agricultural products in international food markets, etc.

It has been established that improving Ukraine's agri-food sector's investment attractiveness requires a comprehensive approach, mainly through legislative reform, new financial mechanisms, and the protection of investors' rights. Under such conditions, the agri-food sector will realize its investment and natural resource potential and become an important driver of the country's economic growth. The success of these reforms depends on the interaction of the government, business, and society as a basis for creating stable and favorable conditions for intensifying investment processes. One of the key tools for supporting the agri-food sector is state investment programs (subsidies, tax benefits, affordable loans, etc.) aimed at modernizing agri-food production, increasing its productivity, and ensuring food security. At the same time, the active promotion of Ukrainian agricultural products internationally is an important factor in attracting investment and expanding export opportunities where the competitive advantages of Ukrainian agricultural products (high quality, safety, sustainable development, and affordability) create prerequisites for their successful promotion in the global food and agricultural raw materials markets. We identify the main directions of investment in the latest technologies and modernization of agri-food production, as well as the primary strategic priorities of its sustainable development. In the current development conditions, the agri-food sector is a fundamental component of the national economy of Ukraine, which ensures food security, forms a significant share of exports, and creates large-scale jobs. However, in the context of the country's martial law and global challenges, this sector of the economy needs systematic investment support to maintain its competitiveness and sustainability. At the same time, increasing the investment attractiveness of the agri-food sector requires reforming legislation, introducing new financial mechanisms for implementing agri-food programs, and ensuring the protection of investors' rights.

FINANCIAL SECURITY OF ENTERPRISES IN THE CONTEXT OF ANTI-CRISIS MANAGEMENT AND STRATEGIC RISK MANAGEMENT

Tetyana BLYZNYUK — 2025-02-28

The article analyzes the theoretical and practical aspects of ensuring enterprises' financial security in the context of anti-crisis management and strategic risk management. Financial security is considered a key element of an enterprise's overall economic stability, its impact on competitiveness, and its ability to withstand crisis phenomena. The main internal and external factors influencing financial security are identified, including financial stability, capital structure, management efficiency, macroeconomic conditions, and market risks.

Special attention is given to developing a structural-logical scheme that illustrates the relationship between anti-crisis management and strategic risk management in ensuring an enterprise's financial security. Three main approaches to anti-crisis management are substantiated: preventive, adaptive, and reactive. The preventive approach focuses on early threat detection and implementing preventive mechanisms. The adaptive approach involves a prompt response to changes in the business environment and financial strategy adjustments. The reactive approach is applied in cases where a crisis has already occurred and includes financial restructuring and enterprise stabilization measures.

An integrated financial security management model is proposed, which combines short-term anti-crisis measures (cost optimization, debt restructuring, and additional financing) with long-term strategic risk management measures (income diversification, early warning systems, and financial planning).

The research results confirm that the comprehensive application of anti-crisis management and strategic risk management enhances enterprises' financial security and resilience to economic fluctuations. The proposed recommendations can be used to improve financial management systems in enterprises and develop state policies for regulating business financial stability in an unstable economic environment.

ORGANISATIONAL FRAMEWORK FOR THE IMPLEMENTATION OF METALLURGICAL CLUSTERS AND RESTORATION OF UKRAINE'S INDUSTRIAL POTENTIAL BASED ON THE DEVELOPMENT OF HYDROGEN TECHNOLOGIES

Volodymyr KUKHAR — 2025-03-01

The article is devoted to substantiating the directions of restoring the industrial potential of Ukraine and increasing the competitiveness of the metallurgical sector through the introduction of hydrogen technologies. The article analyses current trends in the development of the hydrogen economy, in particular, the creation of hydrogen clusters and their role in reducing the cost of hydrogen due to economies of scale and centralised logistics. The key advantages of the cluster approach for metallurgy are identified, including reduction of CO₂ emissions, energy efficiency and compliance with international environmental standards. Based on the analysis of the technical condition of enterprises, the article suggests optimal locations for the creation of a hydrogen cluster based on Metinvest Group's assets that have the necessary infrastructure for the integration of hydrogen technologies. Three scenarios for the implementation of the hydrogen cluster are proposed: basic (minimal investment), optimal (medium level of modernisation) and innovative (complete transformation of production). The economic efficiency of the project is calculated, including the expected amount of investment (EUR 2.0-2.5 billion), the projected payback period (8-10 years), and the main factors affecting financial sustainability. The article also considers the issues of hydrogen logistics and transportation, and suggests the use of specialised pipelines to reduce costs. Particular attention is paid to military risks and the need for additional security measures to ensure the stable operation of metallurgical enterprises in the context of military aggression. The organisational framework for the creation of metallurgical clusters was developed and presented in the form of a ten-year programme. The results of the study can be used to develop strategic programmes for the modernisation of Ukrainian metallurgy, attract foreign investment, and formulate state policy to support the hydrogen economy.

SIGNS AND TRENDS OF THE DEVELOPMENT OF THE TRANSFER POTENTIAL OF COMMERCIAL ENTERPRISES

Yaroslava MOSKVYAK — 2025-03-01

The article examines the peculiarities of the transfer of innovative technology. It was determined that strategic cooperation in the financial and production spheres of the enterprise is not enough to ensure its competitiveness on the world market and integration into the global economic space. Attention is drawn to the development of transfer potential. International transfer potential provides the maximum return from their implementation and provides companies with the following strategic opportunities: development of the domestic market; development of new industries; adaptation and transfer of achievements of developed countries; entry into the transnational infrastructure.

Directions are presented in the development of technology transfer for various fields, and it is also important that compliance with the principles of transparency and legality of technology and equipment transfer, honest behavior of participants. The technology transfer market is an important factor in the further civilizational development of Ukraine.

The relevance of the study lies in the fact that transnational corporations (TNCs) should be considered not only as enterprises organized in any legal form, consisting of parent companies and controlled foreign enterprises located in the country of origin and other countries, but also as international companies , which have business units in at least two countries and manage them from one or more centers. These centers make decisions that ensure a coherent policy and overall strategy, including the allocation of resources, technology and responsibilities to achieve profit.

The purpose of the study is to study the theoretical foundations of the activities of transnational corporations and determine their impact on the development of the world economy.

GLOBAL EXPERIENCE OF THE STATE POLICY OF IMPROVING THE INSTITUTIONAL PROVISION OF THE TECHNOLOGICAL COMPETITIVENESS OF THE NATIONAL ECONOMY

Yaroslav BEREZIVSKYI — 2025-03-01

The focus of the research is the issue of the formation and implementation of a public policy of regulation of innovative and technological activity, development and ensuring the technological competitiveness of the national economy. The purpose of the article is to generalize the world experience of the state policy of improving the institutional support of the technological competitiveness of the national economy. The global experience of state policy on the formation of institutional support for innovative technological development and competitiveness of the national economy is summarized. Based on it, it has been proven that only a systemic comprehensive approach is capable of critically qualitatively changing the situation with the effectiveness of state management of the development of innovative and technological activities and strengthening the technological competitiveness of the national economy of Ukraine. It is based on six vectors of implementation of mechanisms, tools and means of regulation: (1) formation of a full-fledged system of public management in this area; (2) improvement of planning and programming of the policy of strengthening the technological competitiveness of the national economy; (3) promotion of effective implementation of innovative and technological projects; (4) development of a full-fledged innovative and technological infrastructure; (5) improvement of financial and resource support of innovative and technologically active business entities; (6) building multi-level cross-functional cooperation and cooperation in the way of supporting and stimulating the development of innovative and technological activities in order to strengthen the technological competitiveness of the country's economy.

MECHANISMS OF MODERNIZATION OF THE SYSTEM OF FORMATION OF FINANCIAL AND RESOURCE PROVISION FOR THE IMPLEMENTATION OF PROJECTS FOR THE DEVELOPMENT OF THE ECONOMY OF UKRAINE

Oleksandr HLAZOV — 2025-03-04

The article identifies key aspects of building a policy of financial and resource support for the implementation of projects for the development of the country’s economy, taking into account a number of challenges and threats, adaptation to which requires the use of a new approach to managing resource sources and needs. In conditions of constant upheavals and shocks that are not subject to regulation and cannot be reliably predicted, adherence to approaches to systemic and comprehensive regulation of financial and resource support processes allows for the formation of a necessary set of mechanisms capable of effectively and efficiently modernizing the state regulatory system for managing resource flows. It is proven that modern challenges associated with post-war reconstruction, global economic changes and Ukraine’s integration into the world market require the adaptation of financial and resource support mechanisms to new conditions. It is the application of a comprehensive approach to determining mechanisms for modernizing the system of forming financial and resource support for project implementation that allows for the creation of a solid foundation for sustainable economic development, contributes to the modernization of the Ukrainian economy, increases its competitiveness at the international level and ensures socio-economic stability. The significance, content, main tasks and expected results of the implementation of mechanisms for modernizing the system of forming financial and resource support for the implementation of national economic development projects, which involve institutional and organizational, financial and economic, innovative and technological, integration and information and analytical changes, are substantiated. The effective formation and use of financial resources ensures the financing of priority areas of economic development, the creation of new jobs, strengthening infrastructure and attracting foreign investment.

DEALING WITH SALES OBJECTIONS: THEORY AND PRACTICE FOR THE ARCHITECTURAL AND CONSTRUCTION MANAGER

Anastasiia MYKHALKO — 2025-03-04

The study examines the theoretical and practical aspects of the work of managers of architectural and construction companies with client objections. The importance for the competitiveness of companies in the market of architectural and construction services of the ability of a modern manager to work effectively with clients’ objections is demonstrated. The article considers the peculiarities of a modern manager’s communicative competence, which is the basis of his/her professionalism and includes the ability to effectively interact with clients, understand their needs and motives, and find optimal solutions for the resolution of objections. The article analyses the types of client objections, in particular true, false and conditionally objective, and suggests approaches for dealing with them effectively. A number of effective techniques for dealing with objections are considered, such as active listening, empathy, clarifying questions, turning objections into questions, using evidence and statistics, rephrasing objections in your own words, suggesting alternatives, etc. Examples of typical objections raised by architectural and construction clients (financial, stylistic, time related, technical, legal) are given and approaches to resolving them are suggested. Special attention is given to the creation of a positive communication context in which the client objections are not perceived as an obstacle, but rather as an opportunity to offer additional benefits and alternative solutions. The importance of investment in training and development of managers in effective handling of client objections, development of their communication skills and marketing strategies is emphasised. The result will be an increase in customer satisfaction, an increase in sales and a strengthening of the company’s reputation in the marketplace. In order to deal effectively with client objections, the article formulates a number of practical recommendations for managers of architectural and construction companies. Implementing these recommendations will help to build trusting relationships with clients, increase selling efficiency and strengthen the company’s competitiveness.

PUBLIC WELFARE: POST-WAR RECONSTRUCTION OF UKRAINE

Iryna KRAVETS — 2025-03-04

ANTI-STRESS TRAINING OF PERSONNEL IN THE SYSTEM OF SELF-MANAGEMENT AND ANTI-CRISIS MANAGEMENT OF THE ENTERPRISE

Larysa FEDORYSHYNA — 2025-03-04

The purpose of the article is to substantiate the role and importance of anti-stress training of personnel in the system of anti-crisis management of the enterprise and self-management.

Anti-stress training of personnel is a set of measures, methods and strategies aimed at forming stress resistance, increasing the level of adaptability and reducing the negative impact of stress factors on employees.

The main goal of anti-stress training of personnel is to teach personnel to cope with stress, maintain productivity and psychological health in difficult conditions. The main tasks of anti-stress training are: forming adaptive thinking and stress management skills, teaching methods of self-regulation and emotional stability, improving team interaction in stressful situations, providing psychological support for employees, increasing motivation and the level of staff involvement.

The functions of anti-stress training of personnel are determined - adaptive, preventive, compensatory, motivational, educational, social, corrective, productive. It has been established that anti-stress training is carried out through organizational (flexible personnel management, anti-crisis training, optimization of work processes, creation of psychological relief zones), psychological (coaching and mentoring, training in self-regulation techniques, development of emotional intelligence, psychological support), physiological (healthy lifestyle, rational nutrition, provision of a comfortable environment) and social (team building and support of the team, corporate responsibility programs, social guarantees) methods.

It has been proven that anti-stress training of personnel is an important element of anti-crisis management of the enterprise, therefore its place in the anti-crisis management system is outlined. It helps managers and employees to maintain productivity, adapt to changes and effectively overcome challenges, which is the basis of successful anti-crisis management.

The advantages of anti-stress training for an individual employee (as a direction of self-management) and the enterprise (as a component of anti-crisis management) are substantiated.

EVOLUTION OF THE CONCEPTUAL FOUNDATIONS OF LOCAL GOVERNMENT FINANCE FUNCTIONING IN THE CONTEXT OF OVERCOMING THE CONSEQUENCES OF WAR

Roman YEROMENKO — 2025-03-04

This article examines the evolution of scientific views on the role and functions of local government finance in the context of overcoming the consequences of war. The main idea of the article lies in conducting a thorough theoretical analysis of the development of conceptual approaches to this issue over the last 200 years, with the aim of deepening the theoretical understanding of local finance functioning under the conditions of military threats and post-war recovery. The purpose of the article is to deepen the theoretical understanding of the role of local government finance in overcoming the consequences of war. In accordance with this purpose, the article addresses three tasks: to conduct a retrospective analysis of the evolution of scientific views on the role of local finance during war; to systematize theoretical approaches to determining the functions of territorial community finances in wartime; and to clarify the key features of the modern scientific, methodological, and financial context using the real example of contemporary post-war Ukraine for studying local government finance in the context of wartime and significant uncertainty. Based on a retrospective analysis of the evolution of scientific thought and a generalization of modern challenges, the author proposes his own systematization of the functions of territorial community finances in wartime, which includes fiscal-supportive, stabilization-regulatory, recovery-developmental, social-protective, and democratic-consolidating functions. It is substantiated that the identification of precisely these functions allows for the formation of a holistic understanding of the multifaceted role of local self-government in adapting to the challenges of conflict and ensuring post-war recovery. The scientific novelty of the study lies in the further development of the theoretical foundations of local finance functioning through the development of an updated functional classification based on a comprehensive consideration of security, economic, social, and institutional criteria. It is concluded that the scientific, methodological, and financial context of studying local finance under the conditions of the Russian-Ukrainian war and post-war recovery requires a departure from traditional approaches and linear models that do not take into account new realities and challenges.

HUMAN RESOURCES OF AN ENTERPRISE: WAYS OF IMPROVEMENT AND EFFECTIVE USE

Anatolii HATSKO — 2025-03-04

The paper considers strategic directions for improving the personnel management system, increasing the professional competence of employees, and developing effective mechanisms for attracting and retaining highly qualified specialists. In today's unstable economic environment and fierce competition, the human resource potential of an enterprise is becoming one of the key factors for its effective functioning and long-term development. The labor market requires enterprises to ensure a balance between the professional development of employees and the creation of conditions for well-being and job satisfaction. A high level of professional training, competence, and motivation of employees provide the enterprise with competitive advantages, contribute to the introduction of innovations, and increase productivity. However, in the context of dynamic changes in the labor market, digital transformation, and globalization of the economy, there is a need to find new ways to improve and effectively use human resource potential. Developing the enterprise's human resource potential is one of the key factors in ensuring its competitiveness, efficiency, and sustainability. In the context of globalization, digitalization, and rapid technological changes, it is important to implement strategic approaches to human resource management. The development of the organization's human resources potential is a complex function in the human resources management system, which involves direct investments in employees to strengthen them and, therefore, their competitiveness. The relevance of researching ways to improve human resources potential is due to several factors: modern business increasingly needs qualified employees who can use digital technologies effectively, adapt to innovative changes, and quickly make strategic decisions; the problem of staff turnover and insufficient level of staff involvement negatively affect the efficiency of the enterprise, which makes it necessary to implement new models of human resources management; the development of the knowledge economy requires companies to create conditions for continuous staff training, advanced training and the formation of a corporate culture focused on self-development and innovation.

TRANSFORMATION OF BUSINESS PROCESS STRUCTURE IN MODERN CONDITIONS OF ECONOMIC DEVELOPMENT

Andriy PAKKI — 2025-03-04

The article aims to study the transformation of business process structure in the context of dynamic changes in the external environment, using modern transformation tools such as digitalization, automation, business analysis, and process reengineering. The article examines the prominent trends that influence the formation of business processes in the face of modern economic challenges. It is shown that one of the key trends is digitalization, which includes the introduction of innovative technologies such as artificial intelligence, big data, blockchain, and the Internet of Things. These technologies enable the automation of processes, increase forecasting accuracy, and reduce dependence on the human factor, which significantly improves business efficiency.

The second significant trend is sustainable development, which involves integrating environmental, social, and managerial aspects into the business process system. Sustainable development contributes to increasing the trust of investors and consumers and includes ESG principles, which are important for ensuring environmental responsibility and efficient resource use.

It has been established that today, businesses face new challenges, such as changes in the demographic structure, urbanization, and growing social inequality, which require adaptation to new market conditions. Among the main trends of economic development are выделяются digitalization, globalization, environmental initiatives, changes in the employment structure, and innovation in the financial sector. These processes significantly change the structure of business processes, forcing companies to revise their management strategies and optimize their activities to ensure sustainable development. Particular attention is paid to the classification of business processes, which includes core, supporting, and management processes. This allows for a better understanding of the interrelationships within the enterprise and optimizes the use of resources, increasing the effectiveness of management decisions. Integrating advanced technologies into business processes is an integral part of the development of modern enterprises, as it allows them to quickly adapt to market changes, increase competitiveness, and ensure long-term sustainability. The necessity of continuous improvement of business processes in the context of globalization, technological innovations, and economic instability to maintain economic development and ensure the high efficiency of enterprises in a competitive environment is determined.

INSTITUTIONAL MECHANISMS TO ENSURE THE EFFICIENCY OF RENEWABLE ENERGY: CURRENT STATE AND PROSPECTS FOR REGIONAL DEVELOPMENT

Tetiana VLASENKO — 2025-03-04

The article examines the problem of the insufficiently studied essence, structure, and socio-economic significance of the use of energy from renewable sources (RES). Based on the analysis of a wide range of fundamental and applied scientific works, as well as the experience of developed countries, the author substantiates the relevance of RES development in the context of limited fossil fuel resources, the need to comply with international obligations to reduce greenhouse gas emissions (Kyoto Protocol) and ensure energy security. The specific characteristics and types of renewable energy resources are systematized, considering the level of their integration into the economic activity of regional systems. The energy potential of the regions of Ukraine for the introduction of innovative technologies for the use of renewable energy sources is assessed. It is emphasized that the unsatisfactory state of the environment and energy deficit of the regional energy systems of Ukraine necessitate theoretical substantiation and practical implementation of measures aimed at overcoming the problems of energy supply to the population and industry using RES. It is argued that the effective implementation of RES in Ukraine requires the formation of its own national model, which includes the creation of a separate energy sector with effective regulatory instruments for each type of RES, the development of an incentive state policy, which refers to a set of measures and regulations designed to encourage the development and use of renewable energy and the search for sources of financing. Achieving a balance of key technical and economic indicators of traditional and renewable energy is considered possible if the pricing system in traditional energy is reformed, given that price is one of the determining factors in the internalization of global energy markets. Priority areas for the implementation of renewable energy have been identified, including intensification of scientific (fundamental and applied) research, as well as research and development and exploration work; creation of an educational base for training highly qualified specialists in the field of renewable energy; modernization of the existing industrial and professional infrastructure to ensure theoretical and practical activities in the field of renewable energy; simplification of access of renewable energy facilities to the electricity and heat networks of energy companies on the basis of relevant regulatory frameworks.

DEVELOPMENT OF PERSONNEL POTENTIAL OF AGRICULTURAL ENTERPRISES UNDER THE CONDITIONS OF MARTIAL STATE

Viktor ZAMLYNSKYI — 2025-03-04

The article examines the essence and trends in the development of the human resource potential of agricultural enterprises in conditions of increased risk of martial law. The article aims to form practical tools for maintaining the current state and strengthening resource provision, developing a strategy for countering risks, and restructuring the existing HR model of an agricultural enterprise. Human resources are the human resource potential of the country's economy and a strategic priority for the success of agro-industrial enterprises in critical conditions, without which they lose their viability. A significant and stable resource of experienced and motivated personnel plays a leading role in ensuring the competitiveness of agricultural enterprises, however, technological advances optimize processes and lead to the transfer of personnel to more attractive positions, therefore this should be taken into account in coaching programs, retraining and obtaining related professions, therefore it is necessary to focus on the development of reputational skills and promoting adaptation and long-term employment. In the agricultural sector, there is an urgent need for radical changes in personnel policy at all levels, especially in martial law and post-war reconstruction, when the importance of efficiency and effectiveness of labor resource management is increasing. In rural regions of Ukraine, there is an annual deterioration of the demographic situation against the background of shortages and rising food prices and the forecast of increased competition between agricultural producers, which will depend on the fertility of land resources and access to water resources. Integrating sustainable technologies into personnel development significantly changes strategies, but their impact on the efficiency of use and availability of resources remains controversial. Modern professional activity is characterized by the ability to adapt to the realities of current socio-economic, technological, and digital requirements of a global and regional nature, is high-risk, flexible, and sometimes without alternative, but with effective mechanisms, it increases employee productivity and enterprise efficiency, ensuring rhythmic functioning. Without organizational culture and reputational interaction, diversity, and inclusion, the impact on staff retention is significantly reduced by their search for more favorable working and career conditions.

JUSTIFICATION OF RISKS IN AGRICULTURE AND WATER USE UNDER MODERN CONDITIONS

Nataliia LAGODIIENKO — 2025-03-04

This article is dedicated to studying agricultural and water use risks under the current economic conditions of agricultural enterprises. The research aims to comprehensively analyze risks in agriculture and water resource management during wartime, assess their impact on the agricultural sector, and justify approaches to minimizing their negative consequences.

The article examines the evolution of agricultural and water use systems, reflecting a gradual transition from empirical methods to scientifically based systems, from extensive to intensive resource use, and in modern conditions—to rational resource utilization through innovative technologies and sustainable agricultural practices. It has been determined that modern agricultural and water use systems are characterized by the rational use of water and land resources, the implementation of precision farming, water resource monitoring, digital technologies, environmentally safe farming methods, and resource optimization.

Existing approaches to classifying agricultural and water use risks have been analyzed. Based on the analysis, a systematization of Ukraine's agricultural and water use risks is presented, including natural, economic, social, environmental, political, and military threats. The key challenges faced by the agricultural sector due to military actions are substantiated, including mining agricultural lands, water pollution, destruction of agricultural and irrigation infrastructure, decline in land productivity, resource shortages, and workforce deficits.

The study justifies the necessity of applying modern approaches to risk management in agriculture and water use based on the principles of precision farming, digital technologies, and integrated agroecological management systems. Based on the findings, the article proposes directions for risk mitigation, including the implementation of adaptive farming technologies, monitoring, and management of soil and water conditions, the use of remote sensing systems and digital data analysis, and the expansion of government support programs and international assistance for the recovery of the agricultural sector.

The research findings can be used to develop strategies for agricultural production recovery, improve land resource management policies, and establish adaptation mechanisms for the agricultural sector to address modern challenges.

INSTITUTIONAL FRAMEWORK FOR REFORMING REGIONAL ELECTRICITY MARKETS TO STIMULATE AN INCREASE IN ENERGY GENERATION USING RENEWABLE ENERGY SOURCES: STRATEGY, MECHANISMS, RISKS

Svitlana BORTNIK — 2025-03-05

Competitiveness in the electricity generated from renewable sources is based on consumers' free choice of suppliers and the absence of administrative and economic barriers to entry into the energy supply and sales market. The modern European model of the renewable (alternative) electricity market, characterized by integration and globalization, poses new challenges and potential threats to business entities in this sector, especially newly established enterprises. This concerns ensuring transparency and objectivity of the conditions for access to consumption and operation of energy networks, as well as impartial and accelerated market development in line with the dynamic needs of the economic system and growing consumer demands. The emphasis on transparency in market relations should reassure stakeholders about the fairness of the market. Compliance with European standards and norms is also an important aspect.

Reforming the electricity sector involves achieving interrelated goals: organizational, economic, technical, technological, social, and environmental. However, integrating these goals can lead to ambiguous consequences and risks, especially in the context of cost optimization and ensuring the financial stability of enterprises. Potential conflicts of interest between stakeholders, such as large market players and independent suppliers, should be considered.

The definition of strategic goals and objectives requires a systematic analysis of the energy market in the following main areas: identification of reform priorities, taking into account national peculiarities, a detailed analysis of potential benefits and risks for all market participants, as well as an assessment of possible threats caused by external factors, such as fluctuations in energy prices, the emergence of new renewable energy generating facilities, and changes in regulatory policy.

While an important step, strengthening the system operator's role does not guarantee its complete independence from external risks and the influence of large market players. The liberalization of the electricity market provides access to the wholesale market for other participants, including independent suppliers, who can enter into direct contracts with generating companies and sell electricity generated using renewable sources in the retail market to end consumers. Such participants are usually large industrial consumers and associations of smaller consumers. On the supply side of the retail market, a competitive environment is being formed that is an alternative to existing regional energy supply and generation companies and encourages them to improve efficiency. The formation of consumer choice will ultimately determine the price parameters, quality of services, reliability of supply, and transparency of competitive relations in the market.

INFLUENCE OF COMPONENTS OF ECONOMIC POTENTIAL ON THE EFFICIENCY AND COMPETITIVENESS OF AN AGRICULTURAL ENTERPRISE

Sergiy KALINICHENKO — 2025-03-05

The issue of ensuring the country's food security based on a steady increase in the volume of production of agricultural products involves increasing the efficiency of the economic potential of enterprises in the agrarian sector of the economy. The potential of the enterprise and its competitiveness are important aspects of the modern business environment. The potential of the enterprise describes its possibilities for achieving the goal, development, and success in the future. This capacity may include a variety of resources, such as financial, human, technical, material, and intellectual, and the ability to use them effectively. The enterprise's competitiveness determines its ability to compete successfully in the market, attract customers, and ensure stable profits. This means that the company skillfully uses its potential to create innovative products or services, develop an effective marketing strategy, optimize production processes and resource management, and respond to changes in the competitive environment. A successful enterprise can maximize its potential to ensure a high level of competitiveness, which in turn allows it to conduct successful activities in the long term. Effective use of the economic potential of organizations provides for the most stable position of the business entity, characterized by the most effective use of all types of resources. The components of the economic potential of the enterprise have a significant impact on its success and competitiveness. Economic potential is formed and functions under various economic, social, technological, and political factors. Managing this potential requires understanding and managing all these aspects, as well as considering their interaction and impact on the organization's activities..

DEVELOPMENT OF HUMAN RESOURCES POTENTIAL IN THE CONTEXT OF THE EVOLUTION OF HR MANAGEMENT

Natalia MOSKALENKO — 2025-03-05

The article explores the evolution of Human Resource Management (HRM) and its transformation from a purely administrative function into a company's strategic asset. It examines the key stages of HRM development, highlighting the shift from traditional personnel management to a modern approach focused on developing human potential as a core source of an organization's competitive advantage. By analyzing the classical works of Michael Armstrong and Gary Dessler, the article sheds light on the changes in the object, scope of responsibility, and strategic focus of HR. Special attention is given to the four-wave HRM model proposed by Dave Ulrich, which illustrates the transition of HR from traditional personnel administration to the role of a strategic business partner. The contribution of leading theorists — Dave Ulrich and John W. Boudreau — is also examined, emphasizing how they expanded the conceptual boundaries of HRM by integrating it with business strategy and underscoring the importance of HR analytics in decision-making related to human and talent potential. Furthermore, the article analyzes contemporary trends in HRM, such as the digitalization of HR processes, the use of artificial intelligence and data analytics for predicting workforce needs, the shift in performance evaluation paradigms, and the increasing emphasis on soft skills development and employee adaptability. The research highlights the transformation of personnel management approaches, where a key aspect is creating an organizational environment that fosters the full realization of employees' potential. This involves optimizing HR processes and implementing innovative HR technologies and strategies that enhance employee engagement, motivation, and well-being. The findings emphasize that modern HR extends beyond its traditional internal personnel management function and is crucial in business transformation. Its function is no longer limited to workforce administration but rather encompasses the creation of a humane, resilient, and adaptive organization capable of effectively responding to future challenges. By strategically developing talent potential, HR contributes to long-term business sustainability, innovation, and the overall competitive strength of the organization.

INNOVATIVE MANAGEMENT TECHNOLOGIES IN ENSURING ECONOMIC SECURITY: MOTIVATIONAL ASPECTS

Olha OSTAPCHUK — 2025-02-27

The article is devoted to the study of innovative management technologies in ensuring economic security and the analysis of motivational aspects accompanying this process. The aim of the article is to analyze, systematize, and improve the theoretical and methodological foundations of economic security by implementing innovative management technologies and developing a motivational policy to overcome barriers to their adoption.
Economic security of an enterprise is understood as its ability to function effectively in a dynamic external environment while minimizing risks and threats that could negatively impact its operations. The research presents an analysis of modern digital tools that enhance companies' resilience to external threats and mitigate risks. It has been determined that Big Data technologies and predictive analytics contribute to the efficient collection, processing, and analysis of large datasets in real time. Automated budgeting and financial control systems improve the transparency of financial operations, reduce fraud risks, and ensure effective cost control. Blockchain technologies provide secure storage of confidential data and reduce the risks of unauthorized interference. CRM systems and automated marketing platforms help increase customer loyalty and enhance business competitiveness. The Internet of Things and cloud technologies optimize resource management and reduce operational risks. Early risk warning systems enable enterprises to detect threats in advance and develop effective response strategies. Information security is ensured through the use of artificial intelligence in cybersecurity, multi-level user authentication, data encryption, and blockchain technologies.
The study identified key obstacles to the digital transformation of enterprises, including employee resistance to change, insufficient financial and non-financial motivation, lack of effective communication between management and employees, and the absence of an innovation culture in companies. The research revealed that the effective implementation of innovative management technologies is possible only through a comprehensive set of motivational measures aimed at overcoming these barriers. In particular, the use of financial and non-financial incentives, the development of an innovation culture, employee involvement in decision-making, and the creation of corporate innovation hubs will facilitate the successful adoption of innovative management technologies in ensuring the economic security of enterprises.

THE ROLE OF SMALL AND MEDIUM-SIZED BUSINESSES IN THE ECONOMIC STABILIZATION AND RECONSTRUCTION OF UKRAINE AFTER THE WAR

Halyna CHEKALOVSKA — 2025-02-27

This article explores the crucial role of small and medium-sized enterprises (SMEs) in the economic stabilization and reconstruction of Ukraine in the aftermath of the war. The author asserts that the post-war recovery of Ukraine’s economy cannot be achieved without fostering the development of SMEs, which serve as a fundamental pillar for the restoration of production capacities, the creation of jobs, and the assurance of overall economic stability. Given the challenges posed by the war, SMEs have demonstrated an extraordinary ability to adapt to the rapidly changing conditions through innovative approaches, flexibility, and resilience, making them an essential component of Ukraine's recovery efforts.
The article highlights the importance of government support for SMEs, particularly through tax incentives, financial grants, and other forms of assistance aimed at stimulating entrepreneurial activity. Such support is vital to offset the economic strain caused by the war and to enable SMEs to contribute effectively to the country's rebuilding. Furthermore, the author emphasizes the need to address several critical issues facing SMEs, such as access to financing, staff development, and the improvement of market conditions, all of which are essential for ensuring long-term sustainability and growth in the post-war period.
A key aspect of the recovery process is the digital transformation of businesses, which has proven to be instrumental in optimizing business processes and enhancing efficiency. The article underscores how the integration of digital technologies not only helps businesses cope with current challenges but also provides a foundation for future innovation and competitiveness. The author also presents comprehensive statistical data, which offers insight into the performance and resilience of SMEs during the war and their potential to contribute to the post-war economic recovery.
The statistical analysis reveals a significant decline in the number of business entities, particularly in 2022, as a direct result of the war. The destruction of infrastructure, the economic crisis, and the unstable security situation have severely impacted many businesses, leading to closures and a reduction in economic activity. Despite these setbacks, SMEs continue to play a vital role in the recovery process, with significant capital investments being made to rebuild operations and infrastructure.
In conclusion, the article stresses the importance of a multifaceted approach to ensuring the sustainable development of SMEs. This includes providing increased financial support, fostering human capital development, and encouraging the adoption of innovative business practices. By addressing these needs, Ukraine can harness the full potential of small and medium-sized businesses to drive economic recovery and lay the foundation for long-term prosperity.

THE ROLE OF DIVERSIFIED INVESTMENTS IN THE FIGHT AGAINST INFLATION

Roman ANDRUSHKIV — 2025-02-27

The objective of this article is to define the content and characteristics of diversified investments in counteracting inflationary processes, as well as to determine the key priorities for incorporating real assets into an investment portfolio to enhance its efficiency compared to a baseline portfolio composed exclusively of standard stocks and bonds. The study employs various research methods, including induction, deduction, synthesis, comparison, graphical analysis, and modeling. The analysis reveals that, despite significant conceptual differences, all examined investment portfolio performance indicators lead to the same conclusions. This finding is crucial for investors beyond the scope of this particular study, as the choice of a specific metric among numerous similar indicators is not decisive.
The article focuses on three of the most commonly recommended liquid real assets: commodities, real estate, and infrastructure. It is demonstrated that in order to assess whether investments in liquid real assets can improve the diversification properties of a traditional stock and bond portfolio, it is essential to first identify the conventional asset classes already available to investors. The study suggests considering indices representing the aforementioned real assets, as all of them are based on liquid investment instruments. By analyzing these assets, the article emphasizes how each of them can be strategically integrated into an investment portfolio to counteract inflationary pressures while improving overall returns. The analysis not only highlights the benefits of real asset inclusion but also illustrates how such investments can offer a hedge against inflation and provide a buffer against market volatility, thus enhancing the resilience of an investor’s portfolio.
The study concludes that integrating real assets such as commodities, real estate, and infrastructure into an investment strategy can be a powerful tool for managing inflation risks. However, it stresses that successful diversification requires a careful evaluation of the risk-return tradeoff and a clear understanding of the investor’s long-term goals. As inflation continues to pose a challenge to traditional investment strategies, the incorporation of real assets offers an effective means to navigate such economic uncertainties.

METHODS OF ASSESSMENT AND DEVELOPMENT OF HUMAN RESOURCES IN CRISIS CONDITIONS

Тetiana LARINA — 2025-03-11

In today's conditions of instability and economic turmoil, the issue of assessing and developing human resources is becoming particularly relevant. Human resources are a strategic resource of any enterprise, on which its competitiveness, resilience to external challenges, and ability to adapt to crises depend. In times of crisis, the need for rapid response to changes, optimization of personnel management, and effective use of human resources increases. The importance of human resources in a crisis period is because it is the human factor that determines the organization's ability to overcome difficulties, recover, and develop. The crisis may be accompanied by staff reductions, reduced funding for training and development programs, and increased psychological stress among employees. At the same time, it stimulates companies to search for innovative methods of personnel management, implement new approaches to assessing employee performance, and develop strategies to improve their professional level. Methods of assessing human resources in times of crisis aim to identify the strengths and weaknesses of personnel, determine the level of competence, and assess the productivity and adaptive capabilities of employees. Among the main assessment methods, one can single out personnel certification using KPIs (key performance indicators), 360-degree feedback, testing of professional and psychological qualities, etc. Regarding the development of human resources, in times of crisis, enterprises are forced to use flexible and cost-effective methods, such as online training, mentoring, personnel rotation, the introduction of non-material motivation, and psychological support for employees. The role of managers in creating a favorable environment for personnel development and forming a culture of adaptability and innovation is vital. Practical assessment and development of human resources during a crisis are key factors for the survival and success of an enterprise. Competent personnel management allows for minimizing the negative consequences of the crisis and using it as an opportunity for renewal and strategic growth.

PECULIARITIES OF MANAGING THE PROFESSIONAL IMAGE OF AGRICULTURAL ENTERPRISES IN THE CONTEXT OF HUMAN RESOURCES DEVELOPMENT AND SERVICE LEADERSHIP

Tetiana VORONKO-NEVIDNYCHA — 2025-03-11

The article substantiates that managing the professional image of business entities is important for improving the performance and successful implementation of innovations that support the sustainable development of the agricultural sector. It is determined that the effectiveness of professional image management contributes to increasing the competitiveness of enterprises, improving their reputation, as well as attracting new and highly qualified personnel, leaders of a new generation. The modern understanding of leadership, which has undergone significant changes, is considered. It is established that the traditional approach, which focuses on hierarchy and team control, is giving way to the concept of service leadership. The focus of this concept is on the leader's “service” to his/her team, supporting its development and achieving common corporate goals. The key stages and factors that influenced the change in the professional image of enterprises in the agrarian sector of the economy are investigated. It is proved that one of the main factors of socio-economic development and increase of competitiveness of an enterprise is the formation of human resources of the enterprise. The influence of managing the professional image of enterprises in the agricultural sector of the economy on the adaptation of employees to changes, support for sustainable development and the creation of a new institution of a modern leader, leadership potential is analyzed. The prospects for further changes in the professional image of agricultural enterprises, which provide for an in-depth consideration of climate change and technology, are presented. In the coming years, further adaptation of agricultural enterprises to the challenges of climate change and new agricultural technologies is expected. In general, enterprises that are actively working on developing human resources and implementing service leadership can not only improve their reputation but also ensure sustainable growth in the face of global competition.

THEORETICAL AND IDEOLOGICAL FOUNDATIONS FOR THE ADAPTATION AND FUNCTIONING OF THE BUDGETARY SYSTEM UNDER CONDITIONS OF ARMED CONFLICTS

Denys SОLOVIOV — 2025-03-12

This article examines the integration of traditional economic models of budgeting—namely, the Keynesian, neoclassical, and institutional approaches—with a contemporary analysis of ideological discourse amid armed conflicts. The central idea of the work is to determine the feasibility of adapting classic budgetary policy frameworks by incorporating state ideology, national values, and political priorities that assume heightened importance during crisis situations. The study employs a comprehensive interdisciplinary approach that combines insights from economic theory, political economy, institutional analysis, and crisis management. The author demonstrates that the Keynesian model, which emphasizes active fiscal policy to stimulate aggregate demand, encounters significant challenges due to uncertainty and rapid external shocks that complicate its application during wartime. In contrast, the neoclassical approach, which relies on market self-regulation and resource optimization, loses its relevance when market mechanisms are disrupted by extraordinary state needs. Meanwhile, the institutional approach, focusing on formal regulatory mechanisms, often overlooks the impact of informal norms and ideological factors that determine resource mobilization and political legitimacy in crisis conditions. A review of historical examples—from the budgetary policies of Nazi Germany to contemporary fiscal transformations in Russia and Iran—illustrates that state ideology and political priorities become the key drivers of budgetary decisions under conflict. The article underscores the necessity of synthesizing classical economic theories with methods of political economy analysis, the theory of public choice, and scenario analysis to develop an adaptive budgetary mechanism capable of flexibly responding to external shocks while ensuring efficient resource allocation. The proposed approach will enable the formulation of practical recommendations for the post-crisis restoration of Ukraine’s budgetary system, taking into account the imperatives of national security, social justice, and transparent public governance. The research has significant applied potential for constructing a resilient economic mechanism in times of armed conflict and for the subsequent post-war recovery.

SOCIAL RESPONSIBILITY MANAGEMENT OF HIGHER EDUCATIONAL INSTITUTIONS

Liudmyla KRYMCHAK — 2025-03-12

The article is devoted to the consideration of the issue of social responsibility of universities. The main directions of social responsibility of higher education institutions are determined. The need for systematic scientific research and the implementation of new approaches to managing social responsibility of universities was identified. The evolution of the main concepts of social responsibility is studied in the context of key communiqués of conferences of ministries of education of European countries. The provisions of the Prague Communiqué, Berlin, London, Yerevan, Rome and other communiqués are considered. The key thesis of all the provisions of the communiqué is equal access for all citizens to higher education, as well as strengthening the role of universities in the cultural, social and technological development of any society, open student mobility, creation of individual student trajectories, increasing opportunities for graduates' employment and knowledge transfer and strengthening the development of regions. It is found that an important stage in the development of social responsibility was the adoption of the international ISO 26000 Standard on social responsibility, which clearly outlines the general concept of social responsibility for organizations and institutions of various forms and types. The essence of the social responsibility of universities is determined, which consists in creating value in the form of knowledge and its dissemination in society in order to create public good. The article highlights the change in the vector of social responsibility management of domestic higher education institutions under martial law. The importance of the role of social responsibility in the post-war reconstruction of the country is substantiated.

DIGITAL TECHNOLOGIES AS THE MAIN TOOLS OF BUSINESS TRANSFORMATION IN THE CONDITIONS OF GLOBALIZATION

Viktoriia CHOBITOK — 2025-02-27

The current stage of development of the world economy is characterized by the active introduction of digital technologies, which are becoming key drivers of business transformation. In the context of globalization, enterprises are faced with the need to adapt to new digital realities, which necessitates a review of traditional business models, optimization of operational processes and increasing their competitiveness in domestic and foreign markets.
Digital transformation entails the active development and implementation of innovative technological solutions for business development. Digital innovations are becoming basic tools for the functioning of enterprises in the context of a changing business space. The changes have affected management systems, competition rules and mechanisms, processes for forming value chains, etc. There is a change in the structure and erasure of boundaries between industries and types of activity - a transformation of interaction processes, which means not changing traditional rules and approaches and replacing them with new ones, but the emergence of innovative development opportunities and their integration with existing ones in the context of digitalization.
One of the priority and effective solutions in the modern digital space can be called the interaction of business entities, which is the basis for the implementation of innovative business models. A business that is actively built on digital platforms has a significant transformational impact on both the global and domestic economies through the use of innovative methods of expansion, conquest and formation of new markets, as well as on the functioning and strategic development of the enterprises themselves. Therefore, studying the features of digital transformation is an important area of scientific and practical research.
The purpose of the work is to theoretically substantiate the relevance of digital technologies as the main tools for business transformation in the context of globalization.
In the context of rapid technological development and increasing globalization processes, digital technologies are becoming a key factor in business transformation, their use allows enterprises to adapt to the endogenous and exogenous environment, which is dynamically changing, increasing the level of competitiveness.
Digitalization has a comprehensive impact on various aspects of business activity. Through the implementation of artificial intelligence, cloud computing, big data processing and the Internet of Things (IoT), it contributes to increasing management efficiency, reducing costs and creating new opportunities for the development of new business vectors. An important trend is also the use of blockchain technologies to increase the transparency and security of transactions.
Globalization accelerates the processes of digital transformation, creating a single information environment in which enterprises can carry out their activities on a global scale. As a result, digital platforms are becoming important tools for doing business, providing access to new markets and improving interaction between various participants in economic activity. One of the key areas of digital transformation is the automation of business processes, which, through the use of robotic systems and machine learning algorithms, allows you to significantly increase labor productivity and minimize the human factor in operational processes, which is especially relevant for areas such as logistics, finance, and production. Thus, digital technologies are the main drivers of business transformation in the context of globalization, their implementation contributes to increasing competitiveness, developing innovative solutions and adapting enterprises to permanent, rapidly changing market conditions. In the future, the further development of digital tools will determine new vectors of evolution of the world economy and entrepreneurial activity. Therefore, digital technologies are not just a tool, but a strategic factor in business transformation in the context of globalization, enterprises that do not adapt to the digital environment risk losing competitiveness and giving way to more innovative and creative market players.

STRATEGIES FOR PREVENTION AND MECHANISMS FOR COUNTERING TAX EVASION IN AN INTERNATIONAL CONTEXT

Tetyana MEDYNSKA — 2025-02-27

This article is dedicated to the study of strategies and mechanisms for countering tax evasion in the international context, with a particular focus on the experiences of EU countries, the OECD, and Ukraine. The main elements of combating tax abuses, including legislative, administrative, and technological aspects, are examined. The paper analyzes key mechanisms for combating tax evasion used in EU and OECD countries. Special attention is paid to the BEPS (Base Erosion and Profit Shifting) initiative, which is a crucial tool for international cooperation in this area. The main elements of the "BEPS pillars" and their implementation tools are discussed, enabling the identification of the most effective approaches to countering tax abuses. An analysis of tax evasion combat methods in EU countries with developed tax systems is conducted. Key features and advantages of international experiences that can be utilized by Ukraine are identified. Particular attention is paid to the problems of tax evasion, which are especially relevant in the face of contemporary challenges and threats. The main challenges and opportunities for Ukraine in the context of international cooperation and the implementation of international standards are examined. The main elements of combating tax evasion in Ukraine are identified and analyzed. The article is based on an analysis of a wide range of literary sources, including data from international organizations, scholarly articles, legislative acts, and analytical reports. Comparative and systems analysis, as well as empirical research methods, are used.

ECONOMIC DIAGNOSTICS OF THE PRE-WAR STATE OF HUMAN RESOURCE AND PERSONNEL MANAGEMENT AT THE MACRO, MESO, AND MICRO LEVELS

Inna IRTYSHCHEVA — 2025-03-21

The war has significantly impacted the field of human resource and personnel management. Mobilization processes have introduced adjustments in business entities' personnel management systems and created a shortage of human resources. However, to develop a comprehensive human resource management system, it is necessary to analyze the pre-war state of management spheres, which will allow for a deeper understanding of the causes and shortcomings. Examining human resource management before the onset of hostilities makes it possible to assess initial conditions, strengths and weaknesses of the system, and identify potential challenges and growth opportunities. Therefore, the economic diagnostics of the pre-war state of human resource and personnel management at the macro, meso, and micro levels is a relevant area of research in today's conditions.

The aim of this study is to conduct an economic diagnostics of the pre-war state of human resource and personnel management at the macro, meso, and micro levels. The analysis of the pre-war state of human resource and personnel management in Ukraine revealed that unemployment had already been rising before the war started. This indicates problems in the social protection sector, which require improvements in employment policies, support for the working population, and the development of effective digital employment programs. The conducted analysis also highlighted the significant potential for further development and modernization of human resource and personnel management in Ukraine.

The study has identified the necessity of implementing reforms in the public administration system (reducing bureaucracy, increasing transparency, and combating corruption), investing in education and healthcare (improving access to education and healthcare, enhancing workforce qualifications, and ensuring reliable social protection), developing the IT sector (creating favorable conditions for IT sector growth, preparing skilled professionals, and attracting investments), and tackling the shadow economy (establishing favorable conditions for business operations, reducing tax burdens on businesses, and strengthening tax compliance control).

HUMAN CAPITAL AS A FACTOR OF ECONOMIC DEVELOPMENT

Olena USENKO — 2025-03-21

The article is devoted to the analysis of the role of human capital in ensuring sustainable economic development. The starting point of the study was the understanding of human capital as a key factor that determines labor productivity, internal innovative activity, and the ability to implement technological innovations through technology transfer. The role of human capital is revealed through the contours of direct economic impact, as well as broader social and environmental effects that ensure an increase in the quality of life and sustainable development of society. Externalities of human capital development are highlighted. Among them: improved health, increased life expectancy, reduced crime and inequality, civic activity and democratic nature of society, increased environmental awareness, transformation of attitudes towards the rational use of natural resources and support of ecosystems. One of the central aspects of the study was the impact of human capital on economic growth. The article considers theoretical models that describe the impact of human capital on economic growth, in particular exogenous and endogenous models. Particular attention is paid in the work to modifications of classical models that include human capital. In particular, the R. Solow model, modified to take into account human capital, allowed us to consider the impact of investment in education on labor productivity and economic growth. Various approaches to measuring human capital through proxy indicators, such as education spending, the average level of education of the population and other indices, are considered. Attention is paid to studies that show that human capital accounts for a significant part of the difference in per capita income in different countries. An important part of the article is the consideration of the gender aspect in the context of the impact of education on economic growth. Studies have shown that investment in women's education contributes to a decrease in fertility and demographic changes, which, in turn, has a positive effect on economic growth. Women with higher education usually postpone having children, have fewer children and provide them with better education. This demographic transition contributes to the growth of the economically active population and reduces dependence on child labor.

THE QUALITY OF MEDICAL SERVICES IN ENSURING THE DEVELOPMENT OF THE NATIONAL ECONOMY

Nataliia SHELIEMINA — 2025-02-27

The article explores the quality of healthcare services in Ukraine and its impact on economic development. The aim is to analyze the relationship between healthcare expenditures, the quality of medical services, and macroeconomic indicators such as GDP, the level of spending on health care as a percentage of GDP, and life expectancy. The study examines the dynamics of healthcare spending, financial accessibility of services, and the mutual influence of economic indicators on the quality of healthcare, providing a comprehensive assessment of the healthcare system's efficiency and sustainability.
A key focus of the research is on the structure of healthcare financing, including public and private expenditures, and the role of out-of-pocket payments in shaping access to medical services. The analysis highlights that a high share of direct household spending on healthcare creates financial barriers for a significant portion of the population, leading to disparities in access to medical services and worsening public health outcomes. The study also considers the impact of healthcare funding reforms, assessing whether recent policy changes have led to improvements in service delivery and overall health indicators.
The results show that despite an increase in public health expenditures in 2020–2022, life expectancy in Ukraine declined, suggesting inefficiencies in the allocation of resources and the need for further systemic reforms. The findings underscore the importance of optimizing healthcare funding mechanisms to enhance financial accessibility and ensure more equitable distribution of resources.
The article provides practical recommendations for improving healthcare financing, increasing the efficiency of resource allocation, and strengthening financial protection for the population. The proposed measures aim to enhance the quality of healthcare services, reduce disparities in access, and support the development of a sustainable and inclusive healthcare system. These insights contribute to the formulation of effective public health policies and the promotion of long-term economic stability and growth in Ukraine.

MODERN APPROACHES TO THE MANAGEMENT OF IT PROJECTS AND STARTUPS UNDER THE CONDITIONS OF THE DIGITAL ECONOMY

Yanina KOLODINSKA — 2025-04-03

The article considers innovative approaches to IT project and startups management in view of the current challenges. A comparative analysis of existing IT project management methodologies is carried out. Attention is focused on the use of flexible methodologies such as Agile, Scrum, Kanban and the possibilities of their use depending on the tasks and specifics of projects. Different project management frameworks' features, disadvantages, and advantages in the face of uncertainty, dynamic market changes, growing competition, and globalization are identified.

The methods of managing the processes of the IT project life cycle and aspects of the use of digital tools and artificial intelligence technologies that help to increase team productivity, optimize resources, reduce costs in project management, create, develop, and scale IT products and startups are considered. An important aspect of the study is the possibility of integrating artificial intelligence and digital automation depending on the stage of the IT project life cycle. The proposed digital solutions include services for generating ideas, systems for planning, task management, team communications, business intelligence tools, reporting, etc. The author notes that the use of generative artificial intelligence allows to automate routine tasks, improving teamwork, and supporting real-time decision-making. In addition to analyzing existing approaches, the article explores unresolved aspects of IT project management, including the integration of innovative technologies into all stages of the project cycle, the development of digital team skills, and tools for effective communication between stakeholders.

The results obtained are of practical value for project managers, startups, researchers, and IT professionals seeking to implement innovative technologies to optimize management processes. The article lays the groundwork for further research to improve models and methods for managing IT projects and startups in the digital economy.

IMPROVEMENT OF BUDGETARY FINANCING INSTRUMENTS FOR GENERAL SECONDARY EDUCATION IN UKRAINE IN THE CONTEXT OF ENSURING THE DEVELOPMENT OF THE KNOWLEDGE ECONOMY

Marina DMYTRIIEVA — 2025-02-27

The aim of this article is to analyze the existing budgetary financing instruments for general secondary education in Ukraine and to develop recommendations for their improvement to ensure the sustainable development of the knowledge economy. Budgetary financing plays a key role in providing accessible and high-quality secondary education, which serves as the foundation for the development of a knowledge-based economy in Ukraine. Investments in education contribute to the enhancement of human capital, increased labor productivity, and long-term economic growth. However, insufficient funding and its inefficient allocation remain major challenges hindering the development of the education sector. The dependence of HDI on the share of research and development (R&D) expenditures in the GDP of OECD countries and Ukraine was studied, which made it possible to assess the impact of investments in science and innovation on the quality of education, income level and life expectancy of the population. The relationship between the average score in three subjects in the PISA study and GDP per capita (PPP) in countries with different levels of R&D funding is analyzed. It has been established that countries with higher R&D expenditures demonstrate higher levels of human development and economic growth. The study also explores the mechanism of budgetary financing for general secondary education in Ukraine and the main sources of its formation. The key participants in the financing process have been identified, including the government, the Ministry of Education and Science of Ukraine, the Ministry of Communities and Territories Development of Ukraine, local budgets, educational institution founders, international partners, and student representatives. Directions for improving the financing mechanism of secondary education in Ukraine have been proposed, including the implementation of participatory budgeting, improvement of the verified accounting of teachers and students in the SHC “AICEM”, and the use of the franchising mechanism. The main approaches to participatory budgeting in educational institutions have been identified, covering various options for power distribution, participant engagement, and project implementation. Key stages of implementing the franchising mechanism in secondary education have been proposed as a means of enhancing its quality and efficiency.

BANKING ECO-CREDIT AS AN INSTRUMENT FOR SUSTAINABLE DEVELOPMENT FINANCING

Svitlana BATAZHOK — 2025-02-27

The article explores the essence of bank eco-lending as one of the key instruments for financing sustainable development amid global environmental transformation. It examines the main forms and mechanisms of eco-lending implementation, outlines international experience and Ukrainian practices of its deployment. The article identifies barriers to the development of eco-lending in Ukraine and outlines prospects for its activation in the transition to a "green" economy. Eco-lending is considered a form of targeted financing aimed at supporting projects that reduce negative environmental impacts, enhance energy efficiency, promote the use of renewable energy sources, and implement environmentally safe technologies. The mechanisms of eco-lending implementation in the banking sector are revealed, including the specifics of environmental risk assessment, provision of preferential lending conditions, and interaction between banks, government agencies, and international financial institutions. The article analyzes the international experience of green financing, particularly the practices of the EU, USA, and China, which could be adapted to Ukrainian realities. Key barriers to the development of eco-lending in Ukraine are identified: insufficient regulatory framework, limited financial resources of banks, low awareness among borrowers, and the lack of a comprehensive state strategy. The article outlines prospects for activating green lending through the introduction of incentive mechanisms, including tax benefits, loan guarantees, and subsidies. It emphasizes the importance of consolidated actions by the banking sector, the state, and international partners to form an effective and sustainable green financing system. A comprehensive approach to creating an effective green financing system involving banks, the state, and international partners is substantiated.

INTEGRATED ASSESSMENT OF FINANCIAL SECURITY OF AN ENTERPRISE AND ITS IMPACT ON THE FORMATION OF A MECHANISM FOR STRATEGIC FINANCIAL MANAGEMENT

Nila KHRUSHCH — 2025-02-27

The article substantiates that the financial strategy of an enterprise is a component of the overall strategy, which defines long-term financial goals, formulates relevant tasks, and is the basis for building a high-quality and efficient mechanism of strategic financial management to ensure sustainable development. It is proved that an essential stage in the development of an enterprise’s financial strategy is an assessment of its efficiency and effectiveness of implementation by a set of indicators of liquidity and solvency, financial stability, business activity, and efficiency (profitability) of activities, which allows a comprehensive assessment of its status, as well as establishing their weight shares by components of financial security to conduct an integrated assessment. The article is intended to minimise threats to the financial security of the enterprise and thus proposes a financial strategy for sustainable development and a mechanism for its implementation as an effective financial management system capable of ensuring a compromise between the interests of enterprise owners, availability of sufficient financial resources and ensuring solvency and security.

MODERNIZATION OF DIGITAL ANALYSIS TOOLS IN THE ACTIVITIES OF SERVICE ENTERPRISES

Inna SYSOIEVA — 2025-02-27

This article undertakes an extensive and detailed examination of contemporary methodologies employed in digital analysis within the operational frameworks of service-oriented enterprises, specifically within the evolving landscape of economic digital transformation. The central thesis underscores the pivotal role of digital analytics as a strategic imperative for effective management, asserting its capacity to furnish organizations with a profound and nuanced comprehension of multifaceted market dynamics, the intricate and often evolving needs and preferences of customers, and the granular performance metrics of core business processes.
The discourse meticulously delineates the preeminent instruments and technologies that constitute the arsenal of modern digital analytics. This includes a thorough exploration of sophisticated business intelligence (BI) systems, customer relationship management (CRM) platforms augmented with robust analytical modules, the transformative potential of big data technologies for extracting valuable insights from voluminous datasets, the scalability and accessibility offered by cloud-based services, the efficiency gains realized through automated reporting mechanisms, and the burgeoning applications of artificial intelligence (AI) solutions in predictive modeling and pattern recognition.
A critical aspect of the analysis involves a dedicated focus on the inherent challenges and obstacles that often impede the seamless and effective implementation of digital analytics initiatives within service enterprises. These barriers are systematically categorized and discussed, encompassing issues such as the prevalence of fragmented and siloed data repositories that hinder a holistic view, the significant constraint posed by a scarcity of personnel possessing the requisite specialized skills and expertise in data science and analytics, the limitations imposed by restricted financial resources that may curtail investment in necessary infrastructure and tools, and the often-underestimated internal resistance to the fundamental shifts in organizational culture and workflows necessitated by digital change.
In response to these identified challenges, the author articulates a set of strategic and actionable directions aimed at the modernization and enhancement of digital analytical tools and processes. These proposed pathways include the seamless integration of real-time analytics capabilities to enable immediate insights and responsive decision-making, the automation of key performance indicator (KPI) monitoring to ensure continuous performance tracking and proactive identification of areas for improvement, the establishment of a centralized and unified data architecture to overcome data fragmentation and facilitate comprehensive analysis, the development of intuitive and user-friendly data visualization dashboards to empower stakeholders with readily digestible information, and a concerted effort towards the enhancement of the digital literacy and analytical capabilities of all relevant employees within the organization.
Ultimately, the study provides compelling substantiation for the assertion that the judicious and effective deployment of digital analysis methodologies acts as a significant catalyst for bolstering the competitive standing of service enterprises within the dynamic marketplace. Furthermore, it underscores the crucial role of digital analytics in fostering enhanced agility in decision-making processes, enabling organizations to respond swiftly and strategically to evolving market conditions and customer demands. Finally, the research concludes that the strategic application of digital analysis is instrumental in supporting the evolution and refinement of a customer-centric business model, thereby fostering stronger customer relationships, enhancing customer satisfaction, and driving long-term organizational success.

IMPLEMENTATION OF INNOVATIVE COMMUNICATION TECHNOLOGIES INTO THE SPHERE OF SOCIAL RESPONSIBILITY OF BUSINESS AND THE COUNTRY

Anna PAVLOVSKA — 2025-02-27

Modern social management faces numerous challenges related to the need to increase the efficiency of state regulation, ensure transparency of management processes, and improve the quality of social services. Traditional management mechanisms in the context of global digitalization often turn out to be insufficiently flexible, which complicates rapid adaptation to changing socio-economic conditions and growing needs of the population. The purpose of this article is to study modern approaches to the implementation of innovative and communication technologies in social management, analyze their impact on the efficiency of state regulation, and determine the prospects for further development of digital solutions in this area.
The purpose of this article is to study modern approaches to the implementation of innovative communication technologies in social management, analyze their impact on the effectiveness of state regulation and determine the prospects for the further development of digital solutions in this area.
The article examines the role of innovative communication technologies in social management as a key tool for increasing the efficiency of state management and the quality of social services. The interdependence of social management in the context of digital transformation is considered, key trends and innovative approaches to management activities are identified. Modern digital solutions are considered, such as artificial intelligence, blockchain, big data and e-governance, which contribute to the automation of processes, transparency and interactive interaction between citizens and state bodies. The main challenges of implementing these technologies are identified, including issues of cybersecurity, digital inequality and the need to adapt the regulatory framework. The prospects for the development of social management based on digital platforms, personalized services and integrated monitoring systems to increase social justice and public trust are outlined.
The results of the study indicate the importance of a strategic approach to the digital transformation of social governance, including both technological and legal aspects, to ensure sustainable development and improve the quality of life of citizens.

LOGISTIC APPROACH TO INVESTMENT PROJECT MANAGEMENT

Valentyna LUKIANOVA — 2025-02-27

The article considers some aspects of the application of the concept of logistics management in the context of managing the investment and innovation activities of an enterprise. The feasibility of expanding the scope of the logistics approach to managing not only purchasing and sales activities, but also financial, investment and innovation, personnel management, etc. (including investment project management) is substantiated. The features of the application of the logistics approach, analysis and synthesis of the studied system as a management tool are highlighted. The application of the logistics approach to managing innovation and investment activities involves solving certain tasks at different levels of management: strategic, tactical and operational. Strategic logistics includes long-term planning, coordination and optimization of processes, allows you to form long-term competitive advantages of the enterprise. Tactical logistics combines strategic goals with operational activities, ensuring effective functioning within the project. Operational logistics is aimed at ensuring flexibility and adaptability, minimizing risks and losses due to rapid response to changes. The main directions and tasks of strategic, tactical and operational logistics in the management of investment projects are highlighted and detailed. The main attention is paid to the following areas: resource provision, effective supply chains, flexibility and adaptability, digitalization and analytics, risk and cost management, coordination, control and adjustment, response to challenges and threats. Five key stages of logistics management of investment projects are highlighted: analysis and planning, organization of resource provision, coordination and interaction, monitoring and control, implementation and evaluation of results. The prospects for applying the logistics approach in the management of investments and innovation processes are highlighted.

DIRECTIONS FOR ENSURING THE ECONOMIC SECURITY OF THE STATE IN THE CONTEXT OF IMPLEMENTING THE CONCEPT OF IMPORT SUBSTITUTION

Volodymyr PANCHENKO — 2025-02-27

The article substantiates the importance of combining aspects of ensuring the economic security of the state and import substitution, which should be included in the state policy for the development of the national economy. It is emphasized that state administration bodies need to solve the task of reducing the import dependence of the domestic market, which involves strengthening competitiveness, increasing demand for domestic goods (products and services), increasing production capacities and realizing innovative potential. The parameters of ensuring the economic security of the state in the context of implementing the concept of import substitution include the following: economic activity in basic industries and expanded reproduction of capital, rational ratios of key structural features of the market functioning, innovative development of the stages of social reproduction (production, distribution, exchange and consumption), compliance with the basic conditions of the competitive and regulatory environment, balance between national market segments, infrastructure and resources. Successful ensuring the economic security of the state in the context of implementing the concept of import substitution is achieved provided that several key tasks are fulfilled: (1) ensuring dynamic growth in the volume of commodity supply of domestic production; (2) reducing the gap between the value and physical volumes of foreign trade turnover; (3) increasing population incomes, which stimulates domestic demand for goods and services and creates favorable conditions for the development of national production and investment in the domestic market; (4) improving the resource and functional capabilities of domestic producers, in particular through technological renewal, improving the skills of employees, access to cheap loans and state incentive programs, etc. Strategic priorities of the import substitution concept have been identified, which include: expanding the capacity of the domestic market, forming optimal structural relationships, ensuring high innovative activity in the real sector of the economy, creating a high-quality business environment in the domestic market, forming and implementing the potential of import substitution to strengthen the spatial and structural competitiveness of territories and segments of the domestic market.

ANALYSIS OF THE FORM AND TYPES OF THE ECONOMIC MECHANISM FOR STIMULATING THE DEVELOPMENT AND MOBILITY OF SMALL AND MEDIUM BUSINESSES IN THE REGION IN THE CONDITIONS OF UKRAINE'S EUROPEAN INTEGRATION

Taras VASYLTSIV — 2025-02-27

The article examines aspects of state policy to stimulate the development of small and medium-sized businesses in Ukraine (using the example of Lviv region). The forms and types of stimulation of the development and mobility of small and medium-sized businesses in war conditions, as well as the accelerated European integration of Ukraine actualized by it, are analyzed. The purpose of the study is to analyze the forms and types of economic mechanisms for stimulating the development and mobility of small and medium-sized businesses in the region in the context of Ukraine's European integration. The general logic of analyzing the forms and types of economic mobility of SME entities in the region is determined. The general results of the analysis of the dynamics of the number of SMEs in Ukraine and Lviv region in 2010-2023, the performance indicators of SMEs in Ukraine and Lviv region in 2010-2023, the SSC rate and its minimum size for SMEs in Ukraine in 2011-2025 are presented, structure of SME entities by size and status of legal and physical entities in Ukraine and Lviv region in 2010-2023. Conclusions are drawn regarding the quality of the economic mechanism formed in the region to stimulate the development and mobility of small and medium-sized businesses in the region in the context of Ukraine's European integration. It is indicated that some indicators from macro analysis with interpretation on the regional dimension allow to draw conclusions about organizational, functional and spatial mobility. Organizational mobility is revealed by data on flexible forms of employment, functional mobility - by the activities of SMEs in various types of economic activity and by special aggregations (for example, “technology and knowledge”, which characterize the innovative component of activity). Spatial mobility, unfortunately, for compelling reasons, allows us to analyze the available indicators of enterprise relocation, although they do not always contain information about their size. Therefore, it is relevant to investigate the economic mobility of SMEs during the war in order to identify the features of their adaptation to new challenges.