Social Economics

CONTENT TRANSFORMATION OF THE CONCEPT OF COMPETITIVENESS IN THE CONTEXT OF DIGITALIZATION OF HIGHER EDUCATION INSTITUTIONS

2025-12-05T14:04:25+00:00

The article is devoted to the content transformation of the concept of competitiveness of higher education institutions in the context of digitalization and the search for conceptual foundations for its systematization. In contemporary scientific literature, the competitiveness of universities is defined as a multidimensional and integrative category that combines the ability for sustainable development, long-term performance, and meeting the expectations of key stakeholders. At the same time, a significant number of studies interpret this concept in an overly simplified manner, reducing it either to a resource-based approach or to the university’s position in international rankings. Such an interpretation does not consider the complexity of modern challenges and does not allow competitiveness to be used as an effective tool for strategic management. It is substantiated that the digitization of higher education changes the logic of forming competitive advantages of universities and necessitates rethinking existing approaches. The research proposes to distinguish between universal-essential approaches that determine the general characteristics of competitiveness and descriptive-sectoral approaches that specify the content of this concept in the educational and scientific environment. The multi-level nature of competitiveness is highlighted: national (the country’s higher education system), regional (the educational space of individual territories), institutional (a specific university), and programmatic (educational programs). It has been proven that considering competitiveness in the context of a digital university requires the integration of strategic vision, resource potential, competence capabilities, and social mission. Particular attention is paid to the role of stakeholders and their interests, which shape the environment of cooperative interaction. Harmonizing the needs of internal and external partners is a basic condition for achieving long-term sustainability and competitive advantages for the university. The key areas in which the competitiveness of a digital university manifests itself have been identified: access to resources, the creation of competitive educational products and services, the ability of graduates to compete in the labor market, the development of innovative solutions, and ensuring the social function of higher education. The results of the research systematize modern approaches to understanding competitiveness and offer a conceptual framework for creating integrated models for its assessment. Such models should take into account the specifics of the digital educational environment, the dynamics of the educational and scientific services markets, the impact of digital technologies on the organization of the educational process, and the prospects for sustainable development. The practical significance of the results obtained lies in the possibility of using the established provisions to develop strategies for the development of universities seeking to strengthen their competitive positions in the global educational space. Further research should focus on testing integrated models in the real-world conditions of digital universities, which will allow for an assessment of their effectiveness and adaptability to a changing environment.

ECONOMIC JUSTIFICATION OF THE CALCULATION OF THE COSTS OF DEFENSE OF DOCTOR OF PHILOSOPHY THESES (USING THE EXAMPLE OF OLES HONCHAR DNIPRO NATIONAL UNIVERSITY)

2025-12-05T14:04:46+00:00

The article presents an economic justification for the cost of organizing and conducting the defense of theses of PhD candidates who did not complete a full course of study within the educational and scientific program of a higher education institution. A comparative analysis of regulatory and legal support and financial mechanisms in Ukraine and abroad was conducted. It was found that for a higher education institution, the process of organizing and conducting a defense is associated with additional financial costs, since it includes financing the maintenance of information, library, and material and technical resources, payment for utilities and other services, checking dissertations for plagiarism, issuing diplomas, and also requires the involvement of official opponents and ensuring the work of technical and administrative personnel.

In international practice, two models are distinguished: if the applicant is not currently studying under the educational and scientific program, the institution or the state charges him a special fee, or covers all costs for certification procedures through budget financing or inclusion in the cost of the applicant’s third (educational and scientific) level of higher education.

Using the example of Oles Honchar Dnipro National University, an economic model of cost calculation was developed, taking into account direct and indirect costs associated with the certification procedure and defense of a PhD thesis by applicants who are not graduates of the educational and scientific program of this particular higher education institution.

A transparent approach to establishing the cost of paid services for organizing defense for third-party applicants of the third (educational and scientific) level of higher education is proposed, which ensures the financial stability of the higher education institution, the integrity and openness of the procedure for attestation and defense of the Doctor of Philosophy dissertation.

AI AND THE RECONSIDERATION OF WORKFORCES’ SKILLS

2025-12-05T14:05:06+00:00

Modern trends have clearly shown that artificial intelligence is no longer just a futuristic concept of the future. The dynamics of its development and the possibilities of practical application have already made it a powerful force that is fundamentally changing the way people work and function every day. Its impact on the labour market is growing day by day, it is redefining which skills are important, how these skills are formed, and what the future work ecosystem will look like. Many inaccessible tasks that were considered unattainable in the past are easily performed by algorithms and smart machines, which forces people to think about what makes work valuable in an era where technologies have gained more capabilities, speed, and often even lower costs.

This paper examines the changing global skills structure driven by artificial intelligence and what this could mean for developing countries like Georgia. Drawing on a wide range of international research, policy reports, and economic analysis, the article identifies five key trends that are already shaping the workforce of tomorrow.

First, there is the growing dynamic of skills polarization. Routine middle-level jobs, administration, predictable technical functions, basic data processing are increasingly at risk of automation, while highly skilled creative and low-skilled manual labour are relatively stable. Second, a new skills landscape is emerging, where not only technical competencies are becoming the most valuable, but also digital literacy, creativity, emotional intelligence, problem-solving skills, and the ability to adapt quickly. Third, the gap between the rapid development of technologies and the slow adaptation of human skills is widening. This creates a so-called “skills vacuum.” Fourth, education systems are increasingly out of step with the needs of the labour market, especially in countries like Georgia, where educational and vocational courses often fail to keep up with the digital and hybrid demands of the modern economy. Finally, the public policy response to all this is often fragmented and inconsistent. There are no long-term, national strategies whose main goal should be to prepare society for the transition period.

Such trends raise alarm bells, especially in countries where access to retraining and continuing education is limited, regional disparities are keeping people away from new opportunities, and public policies are not yet responding to the scale of technological transformation.

In Georgia, the above challenges are particularly alarming given the weak infrastructure and policies of the education system, where the involvement of labour market actors in the process is neglected, leading to inconsistent management of skills policies.

It provides a solid foundation for future research and highlights areas where timely action is vital to avoid negative impacts on the labour market. The article focuses on challenges that are not only caused by new technologies but are of a much deeper social, economic, and institutional nature. Preparing for the future requires a proactive and inclusive approach: better coordination between education and business, closer cooperation between the public and private sectors, wider access to lifelong learning, and a redefinition of which skills will be truly relevant in tomorrow’s world of work.

DEVELOPMENT OF HUMAN CAPITAL POTENTIAL IN AGRICULTURAL ENTREPRENEURSHIP: FROM STRATEGY TO ACHIEVED RESULTS

2025-12-05T14:05:32+00:00

The article investigates the theoretical foundations and practical aspects of personnel potential development in agricultural enterprises under the current conditions of martial law, globalization challenges, demographic changes, labor migration, and accelerated digitalization of the economy. It is substantiated that personnel potential serves as a strategic resource that directly determines the competitiveness and resilience of agricultural enterprises. The essence of personnel potential is defined as a multi-component system encompassing quantitative, qualitative, organizational, socio-psychological, and innovative characteristics of employees. A critical review of Ukrainian and international scientific publications was conducted, allowing the generalization of approaches to interpreting the concept of “personnel potential,” the identification of key factors influencing its formation and utilization, and the detection of a lack of comprehensive models for integrating HR strategies into business processes of agricultural enterprises. Particular attention is paid to the analysis of objective factors that determine the need for personnel potential development: structural imbalances in the labor market, the impact of war and crisis conditions, technological changes and digitalization of production, as well as regional disparities in access to human resources. Based on a systemic approach, a model of interconnection “strategy – tools – indicators – result” is proposed, enabling a logical transition from strategic tasks to concrete economic and social outcomes. The expected effects of implementing the model include productivity growth, increased profitability, reduced staff turnover, creation of a personnel reserve, development of digital competencies, strengthening of corporate culture, and improvement of the enterprise’s image in local communities. The practical significance of the research results lies in their potential use for improving HR policies of agricultural enterprises, designing sustainable development strategies, and enhancing the competitiveness of Ukrainian agribusiness in both domestic and international markets.

TALENT MANAGEMENT IN THE CONTEXT OF IMPROVING THE ENTERPRISE’S ACTIVITY EFFICIENCY

2025-12-05T14:05:45+00:00

The article presents a theoretical and methodological platform for talent management in the context of improving the enterprise’s activity efficiency. The study proves that talent management is recognized as one of the most progressive areas in the world. Noted, that recognizing the importance of talent as a source of sustainable competitive advantage contributes to the formation of an enterprise management system as an integral part of an innovative business strategy, based on a value-oriented approach to the intellectual abilities of employees. We clarified the essence of the category “talent management”. The paper highlights areas of human resource management where HR-Digital can be developed. The study examines talent management process from the perspective of its use for motivating and retaining high-potential employees. Notably, talent development and a high-caliber workplace culture are essential to helping employees realize their career potential in line with the company’s vision. The article presents a methodology for comprehensive assessment of corporate talent, taking into account important components, as well as the main methods for selecting and evaluating the talent efficiency in modern conditions. The paper presents a set of key indicators and tools that can be used to analyze the talent management efficiency. We systematized the indicators for assessing the talent management efficiency according to the key stages of the company’s HR department work. We develop and present recommendations for managing talented personnel in an innovation-oriented enterprise that is attractive to high-potential employees in a competitive environment. The results of scientific research and practical recommendations of the author, aimed at improving talent management in Ukrainian enterprises, contribute to the effective use of personnel policy, talent management strategy, and the implementation of an effective talent management system for making strategic management decisions in the context of improving enterprise’s efficiency.

TRANSFORMATION OF THE CONSULTING SERVICES MARKET IN UKRAINE UNDER THE INFLUENCE OF MILITARY CONFLICT

2025-12-05T14:05:51+00:00

The study examines the transformation of Ukraine’s consulting services market under the influence of military conflict. It analyzes external and internal factors affecting the market’s development during wartime and presents key statistical indicators of the consulting sector. The full-scale war has caused a sharp contraction in demand for consulting services in traditional segments as business activity was disrupted, while simultaneously stimulating new demand for crisis management, digital transformation, and risk management advisory. We assess the business environment’s response to instability: companies have been leveraging financial reserves, cutting costs, and revising management strategies to survive. Special attention is given to changes in the demand and supply for consulting services amid the conflict: the study identifies which market segments suffered the most and how client needs have shifted, with new requirements emerging due to elevated wartime risks. Our analysis finds that the war has heightened the need for consulting support in areas such as business relocation, supply chain reconfiguration, cybersecurity, and post-war recovery planning. The size and structure of the consulting market are examined based on statistical data and industry reports, revealing that the Ukrainian consulting industry, which was historically underdeveloped, faced severe setbacks but also accelerated changes. We identify current development trends and key factors affecting market performance during the war. Based on the findings, we propose strategic recommendations for strengthening the consulting sector and provide a forecast for its post-war development. The conclusions offer valuable insights for consulting professionals, business leaders, and government agencies involved in regulating or supporting the consulting services industry in Ukraine.

TRIADIC DECODING OF THE CONCEPT OF LOGISTICS SERVICE: A THEORETICAL AND METHODOLOGICAL APPROACH

2025-12-05T14:05:57+00:00

The article explores the conceptual foundations and strategic dimensions of logistics service management in the context of modern supply chain systems. Logistics service is viewed as a complex and dynamic system that integrates logistical operations, resource utilization, stakeholder interactions, and technological support to meet customer expectations and ensure competitiveness. The research is based on the triadic model of auxiliary concepts, allowing the synthesis of key categories such as logistics services, performers, resources, planning, execution, monitoring, customer satisfaction, flexibility, and strategic supply chain integration. These elements are grouped into synthesized concepts – integrated systems, management mechanisms, and results – providing a framework for understanding the holistic nature of logistics service management.

Through this framework, the paper identifies six strategic schemes (A–F) that represent different approaches to logistics service management, including strategic management, service delivery, integration and adaptation, logistics service organization, corporate logistics management, and strategic logistics leadership. Each scheme highlights the interaction of specific triads that reflect the essence, mechanisms, and outcomes of logistics activities. The analysis reveals that effective logistics service management requires not only operational excellence but also strategic foresight, stakeholder engagement, sustainable resource use, and quality management practices.

The article concludes that logistics service management is a core component of corporate governance, contributing to organizational resilience, customer value, and sustainable development. The proposed conceptual model provides a systematic basis for further academic research and practical improvement in logistics strategy, performance evaluation, and innovation.

THE CONNECTION BETWEEN DIGITAL MARKETING AND CUSTOMER RELATIONS FOR BUSINESS SUCCESS

2025-11-16T19:35:34+00:00

in particular, the consequences of customer relationship orientation and the use of CRM technologies as a support for analysis, data integration and access to business performance. Customer Relationship Management (CRM) is becoming increasingly important for organizations as a prerequisite for the survival of the company. According to the study, CRM should be considered strategically for organizations. Therefore, this study focuses on the effects of digital marketing on business performance, in particular, the effects of customer relationship orientation and the use of CRM technologies as a means of supporting analysis, data integration and access to business performance. The study is based on quantitative methods to test hypotheses. Data was collected from various organizations. The results show the relationship between CRM and customer satisfaction, market performance and profitability. CRM technologies significantly improve business performance. This study contributes to existing knowledge by shedding light on the complex relationships between CRM, customer relationship orientation, market performance, market profitability and customer satisfaction. Based on the research results, we offer practical recommendations to managers and decision-makers. The relevance of the topic is determined by the fact that digital marketing is one of the fastest growing areas in the world. It is relevant in developed countries, both small and large companies find it very convenient to use digital marketing, as it significantly reduces costs and increases the level of communication with the consumer. As a result, we get a new economic model, which is the basis for the creation of a modern digital world.

CONTROLLING AS A MANAGEMENT TOOL FOR ENTREPRENEURIAL ACTIVITIES ON THE BASIS OF CORPORATE SOCIAL RESPONSIBILITY

2025-11-16T19:49:36+00:00

The purpose of the article is to substantiate the role and determine the significance of controlling as an effective tool for managing entrepreneurial activities in the context of implementing the principles of corporate social responsibility. The paper identifies the main tasks, functions, and types of controlling, analyzing its impact on optimizing business processes, improving economic efficiency, and ensuring sustainable enterprise development. The article examines controlling as a key management tool based on the principles of corporate social responsibility. The research highlights the importance of controlling in supporting managerial decision-making through optimized information flows, improved monitoring, planning, and control. An analysis of the genesis of controlling and its implementation specifics in Ukraine is provided. The article systematizes the tasks, functions, and structure of controlling systems, encompassing goal setting, business process planning, management accounting, deviation analysis, and control. The role of controlling in the realization of corporate social responsibility principles is given particular attention. This includes ensuring the positive impact of enterprises on society, the economy, and the environment. It is noted that controlling can be applied not only as a tool for operational decision-making but also as a mechanism for managing the effectiveness of corporate social responsibility. The article explores the primary types of controlling ‒ strategic, tactical, operational, and dispositional ‒ and emphasizes their importance in achieving both short-term and long-term business goals. Strategic controlling focuses on generating information about potential development directions, tactical controlling addresses the tasks of strategic management, while operational and dispositional controlling coordinates daily business processes. The study also emphasizes the importance of controlling as a tool for assessing energy-saving programs, waste management, community impact, and ensuring ethical business standards.

CORPORATE CULTURE AS THE BASIS FOR ORGANISATIONAL DEVELOPMENT AND ITS CHARACTERISTICS IN GEORGIAN ORGANISATIONS

2025-11-16T19:56:46+00:00

A corporate culture is one of the most crucial components of each organisation, which promotes the creation of an efficient system for the production of goods and services and therefore is a benefit for the company. Organisations vary according to their business industries, with their needs for materials and activities, but they have one common issue, which is the need to have an effective corporate culture.

Organisations are spending a lot of effort and resources to survey which factors are most important for their corporate culture to become more effective. The article presents the results of the data analysis collected through a survey of construction companies operating on the Tbilisi construction market. The data is analysed using a quantitative research method and reveals the main factors which influence establishing effective corporate culture in construction companies.

Three main variables have been selected for the research such as leadership, communication, and security. The survey results indicate that while leadership style is recognised by employees and considered significant, it is not viewed as critical as the security factor. Although leadership style is relevant, its impact on shaping corporate culture within construction firms appears to be comparatively lower.

Following a thorough examination of the relevant data, it was determined that communication was the next most significant factor, with security ranking second. In the field of construction, effective communication is paramount. Absent effective communication, achieving objectives and ensuring project success becomes exceedingly difficult.

The survey’s findings generally support the proposed hypotheses. Leadership, communication, and security have been identified as pivotal variables in the cultivation of robust corporate cultures among construction companies operating within the Tbilisi market of Georgia. The study has practical importance for construction companies, to boost their working process in the field, which is weaker.

EMOTIONAL INTELLIGENCE AND SELF-AWARENESS AS DRIVERS OF EFFECTIVE LEADERSHIP IN HEALTHCARE INSTITUTIONS

2025-11-16T20:03:32+00:00

We examine the role of emotional intelligence (EI) and self-awareness as critical drivers of effective leadership in healthcare institutions. Our focus is on the specific nature of healthcare management environments, where leaders operate under constant emotional pressure, workforce shortages, and complex decision-making requirements. We argue that high levels of EI contribute significantly to emotional resilience, trust-building, interpersonal communication, and overall team productivity in medical settings.

We emphasize self-awareness as a foundational component of EI that enables healthcare leaders to engage in reflective practices, exercise ethical decision-making, and maintain composure under stress. Our analysis highlights the connection between self-awareness and a leader’s ability to cultivate an inclusive and transparent organizational culture—an essential condition for navigating uncertainty and maintaining performance in turbulent contexts.

We conduct a qualitative content analysis of contemporary scholarly literature and critically review both international and domestic practices in the development of emotional intelligence among healthcare managers. We identify key barriers to the development of EI in this sector, including lack of time for reflection, insufficient access to structured training programs, limited organizational support, and the general underestimation of the economic value of emotionally competent leadership.

To address these barriers, we propose a comprehensive framework of interventions, including coaching and mentoring programs, the use of EI and self-awareness assessment tools, the development of educational modules focused on reflective leadership, and the creation of feedback-rich organizational cultures. We also advocate for establishing dedicated spaces for reflection to support leaders’ emotional regulation and long-term decision-making capacity.

We conclude that the systematic integration of EI development into healthcare leadership strategies leads to measurable improvements in organizational performance, employee well-being, and service quality. Our findings are of practical relevance to healthcare managers, researchers, and educators aiming to strengthen leadership capabilities and promote sustainable organizational effectiveness in the healthcare sector.

PUBLIC FINANCE IN THE CONDITIONS OF WAR: CHALLENGES OF UNCERTAINTY AND PATHS OF ADAPTATION

2025-11-16T20:09:34+00:00

The purpose of this article is to study the peculiarities of the functioning of Ukraine's public finance system under martial law, identify key challenges associated with high levels of economic and social uncertainty, and justify possible ways of adapting budgetary and financial policy to ensure the sustainability, balance, and efficiency of public resource management. The article analyzes the current state of public finances in Ukraine under martial law, describes the main trends in the formation of revenues and expenditures of the state budget, the impact of military actions on the tax system, interbudgetary relations, and financial decentralization. It identifies the main challenges facing the state's financial system, including a sharp increase in military and social spending, a reduction in budget revenues due to a decline in economic activity, a growing budget deficit, and the need for external financing. Particular attention is paid to the role of international financial assistance in maintaining macroeconomic stability, ensuring the solvency of the state, and financing critically important sectors of the economy. The problems of effective public finance management during wartime are highlighted, in particular the issues of transparency of budgetary processes, targeted use of funds, risks of corruption, and restrictions in the area of financial control. Directions for improving public finance management mechanisms in conditions of uncertainty are substantiated, including the digitization of financial processes, strengthening anti-crisis planning, optimizing budget expenditures, improving the effectiveness of financial control, and developing strategic forecasting. Recommendations are proposed to improve the country's financial stability in the medium and long term, which include aligning domestic financial capabilities with external support, improving the efficiency of budget resource use, developing effective public debt management mechanisms, and enhancing financial security as a component of national stability.

SCIENTIFIC DISCOURSE IN THE FIELD OF DEVELOPMENT BUSINESS: BIBLIOMETRIC RESEARCH BASED ON DATA FROM THE SCOPUS SCIENTOMETRIC DATABASE

2025-11-16T20:14:31+00:00

In the current context, the development business functions as a strategic sector of the national economy, driving infrastructure growth in cities and regions. Its multiplier effect is explained by its comprehensive scope, which extends beyond construction to include design, financing, implementation, and management of real estate projects. The development business plays not only a significant economic role but also attracts considerable scholarly attention, necessitating a systematic bibliometric analysis.

The purpose of this article is to conduct a bibliometric analysis of scientific publications related to development business issues, enabling an assessment of research activity dynamics and the identification of dominant directions and current trends. The analysis is based on publications indexed in the international scientometric database Scopus. The main tools used for analysis and visualization include the “Analyze results” function in Scopus and the VOSviewer software environment.

A relevant set of keywords and their combinations was compiled to reflect the core aspects of the development business theme, namely: (1) construction and "real estate market"; (2) "real estate development"; (3) "real estate development" and business; (4) "real estate development" and finances. These were used as search queries in Scopus. The results revealed a substantial number of relevant publications and confirmed growing academic interest in the topic.

Visualization and analysis of keyword relationships using VOSviewer allowed the identification of thematic clusters and prevailing research directions. The study also highlighted key methodological approaches and tools used in examining real estate market processes and development activities.

The scientific discourse surrounding real estate development encompasses a wide range of research areas, including construction and project management, urban planning and territorial development, and the impact on socio-economic progress and environmental sustainability. Particular attention is given to development as a business activity and to the financial mechanisms behind project implementation.

THE ROLE OF STOCKBROKERS IN THE DEVELOPMENT OF THE STOCK MARKET AND THE PROMOTION OF GLOBAL INVESTMENT

2025-11-16T20:19:17+00:00

This study explores the evolving role of stockbrokers in the context of global financial market transformation and the rapid expansion of digital technologies. We examine how the traditional function of brokers as mere transaction intermediaries has shifted toward more complex roles, including analytical support, strategic advisory, and information intermediation, particularly in cross-border investment contexts. We analyze empirical data from diverse regulatory environments – including the United States, Canada, the European Union, Hong Kong, Japan, and South Africa – highlighting a global trend: while the number of brokerage firms is declining, the number of individual brokers is increasing, and so is the demand for analytical services. We argue that in regions where financial information is fragmented, regulatory frameworks are underdeveloped, or linguistic and cultural barriers impede investor decisions, brokers act as crucial facilitators of market transparency and information access. Our findings show that brokers, unlike financial analysts, are often better positioned to interpret local business conditions, communicate context-specific insights, and reduce informational asymmetries that discourage foreign capital inflows. This is especially significant for emerging and frontier markets. We further evaluate the challenges that brokers face as they assume analytical roles. These include the necessity of mastering digital tools, maintaining objectivity in financial reporting, and enhancing cybersecurity practices. Based on a mixed-methods approach that integrates content analysis, comparative market review, and basic statistical correlation, we have built a nuanced understanding of how the broker profession is adapting to fintech disruption and regulatory evolution. Our results suggest that brokers who successfully integrate traditional brokerage services with analytical competencies can enhance the quality of investment decisions, foster trust among international investors. We also analyzed the differences between the activities of classical financial analysts and stockbrokers engaged in analytical activities, as well as the gaps that the latter can fill, thereby improving the availability of necessary information for global investors.

IMPROVEMENT OF MONETARY LEVERS AND INCENTIVES TO INCREASE THE COMPETITIVENESS OF BUSINESS ENTITIES IN UKRAINE

2025-11-16T20:25:05+00:00

The study aims to justify the theoretical and methodological foundations and to develop an infological model for improving monetary levers and incentives to enhance the competitiveness of business entities in Ukraine. We find that the effective functioning of entrepreneurial structures largely depends on the predictability and adaptability of monetary policy, which integrates into the national strategy for sustainable development. We propose an infological model for improving monetary levers and incentives, which includes five interconnected blocks: input parameters, monetary levers, monetary incentives, transformation processes, and expected outcomes. We demonstrate that the effective use of the discount rate, reserve requirements, currency regulation, interest rates, and open market operations contributes to the stabilization of the financial environment and stimulates business development. We argue that, under conditions of war risks and global economic uncertainty, the strategic combination of a predictable monetary trajectory with targeted fiscal and investment programs reduces the cost of capital, expands long-term resources, and ensures sustainable recovery of entrepreneurial activity. We integrate international experience, particularly from EU countries, with national economic specifics to enhance the effectiveness of monetary transmission mechanisms and improve the predictability of the environment for investors and businesses. The study results have practical significance for designing strategic decisions in monetary policy, adapting fiscal instruments, developing the capital market, and implementing macroprudential mechanisms that support innovative transformations, ecological orientation, and expanded investment opportunities for business entities. The proposed model can serve to increase the efficiency of state regulation, ensure macroeconomic stability, and support the competitiveness of national business under economic and geopolitical challenges.

FINANCIAL ANALYSIS AS A TOOL FOR ENSURING THE ECONOMIC SECURITY OF SMALL AGRICULTURAL ENTERPRISES

2025-11-16T20:47:20+00:00

The purpose of the article is to investigate the application of financial analysis as a tool for ensuring the economic security of small agricultural enterprises in Ukraine, identify existing problems and define prospective directions for their solution. It is established that economic security is a fundamental condition for stable functioning, effective resource utilization, confronting numerous threats, and adapting to changes, thereby providing a foundation for the sustainable development of small agricultural enterprises, which play a system-forming role in ensuring the country’s food security and rural sustainable development. It is proven that financial analysis is an indispensable tool that allows not only to assess the current financial state of the enterprise but also to timely identify hidden risks, determine growth points, optimize cost structure, justify investment decisions, and form effective strategies for ensuring economic security. It is stated that most small agricultural enterprises in Ukraine experience significant difficulties in independently conducting quality financial analysis, which is due to limited financial resources for attracting highly qualified specialists in this field.

The article substantiates the important role of agricultural extension services, which are capable of providing small agricultural enterprises with comprehensive support on financial analysis issues, including conducting consultations, performing independent financial assessment, conducting express analysis of the financial state, assessing creditworthiness, identifying bankruptcy risks, and developing recommendations for strengthening economic security. Agricultural extension services can also contribute to the development of strategies for increasing solvency, profitability, business activity, and investment attractiveness, optimizing costs, diversifying entrepreneurship, attracting external investments, preparing documents for obtaining bank loans and grants, establishing contacts with investors, and advising on accounting and taxation issues.

To assess the level of economic security of agricultural enterprises, it is proposed to use a system of economic indicators covering indicators of liquidity, solvency, financial stability, business activity, and profitability, while emphasizing the need to consider industry specifics and use appropriate normative values. Attention is focused on the importance of establishing close and continuous cooperation between small agricultural enterprises and agricultural extension services as a key condition for ensuring their economic security through the quality implementation of financial analysis tools.

Prospects for further research are related to the use of modern information technologies to optimize the process of financial analysis.

FINANCIAL ASSETS AS DRIVER OF THE EFFICIENCY OF VARIOUS DIRECTIONS OF BUSINESS ACTIVITY

2025-11-16T20:53:39+00:00

In this article, we examine the role of financial assets as a key instrument for improving enterprise management efficiency, with a particular focus on marketing activities under the conditions of globalization, digital transformation, and increasing competition. We substantiate the relationship between financial asset management and the effectiveness of marketing decision-making, emphasizing that strategically managed financial resources strengthen enterprise adaptability, stability, and innovation capacity. We compare approaches to financial asset evaluation according to NAS 13 and IFRS, identifying major differences in classification detail, valuation methodology, and disclosure requirements. We also analyze key risks – credit, liquidity, and market – and develop recommendations for incorporating risk assessment into marketing budget formation and resource planning.

In our analysis, we identify the main functions of financial assets in marketing, including ensuring liquidity, financing promotional campaigns, supporting pricing strategies, and fostering customer relationship management, brand development, and digital transformation. We critically review domestic and international research to reveal the absence of a unified methodological framework for classifying and assessing financial assets and to justify the need for integrating financial and marketing analytics. We propose directions for improving financial asset management systems that align liquidity, profitability, and risk indicators with marketing performance metrics such as ROI and CLV. Our findings show that rational financial asset management enhances the return on marketing investments, stabilizes communication cycles, minimizes underfunding risks, and supports the creation of sustainable competitive advantages.

We argue that companies can use these approaches to react more dynamically to market changes, maintain brand continuity, and allocate financial resources more effectively to achieve sustainable growth in both national and global markets. Ultimately, we demonstrate that strategic financial asset management serves as a catalyst for increasing marketing effectiveness and strengthening the overall competitiveness of enterprises.

MEASURING THE ROI OF CONTINUING EDUCATION INITIATIVES IN BUSINESS ORGANIZATIONS

2025-11-16T21:00:10+00:00

The study investigates the Return on Investment (ROI) of Continuous Education (CE) initiatives in business organizations situated in the country of Georgia, focusing on their financial and non-financial impacts. Through qualitative research, including interviews with representatives from 18 companies across diverse industries, the study explores the benefits, challenges, and strategic implications of CE programs.

Findings show that CE initiatives contribute significantly to organizational performance through enhanced employee productivity, innovation, and skill acquisition. Financially, companies report revenue growth, cost savings, and improved operational efficiency as direct outcomes of CE investments. On the ither hand, these programs drive employee satisfaction, retention, and engagement, creating a positive organizational culture that supports long-term growth.

The study highlights key challenges in measuring CE ROI, including the attribution of outcomes to CE initiatives, delayed realization of returns, and the lack of standardized evaluation frameworks. It emphasizes the importance of a complex approach to ROI measurement that integrates quantitative financial metrics with qualitative evaluation of non-financial benefits.

To address these problems, the research proposes a comprehensive ROI framework tailored to organizational and industry-specific needs. Recommendations include leveraging advanced data analytics, fostering a culture of lifelong learning, and ensuring stakeholder collaboration in CE program design and evaluation.

Based on the research a comprehensive framework for continuing education has been developed to measure the ROI of continuing education in business organizations, considering both financial and non-financial indicators.

This paper contributes to the academic discourse on human resource development and organizational learning by providing practical insights into the evaluation and improvement of CE initiatives. The findings highlight the transformative potential of CE programs in driving innovation, competitiveness, and sustained success in dynamic business environments.

ASSESSMENT OF UKRAINE'S DEBT SUSTAINABILITY

2025-11-16T21:04:15+00:00

This study aims to assess Ukraine's debt sustainability and develop proposals for improving the organisational and methodological basis for such an assessment. Ukraine's debt sustainability is assessed as currently lacking (2022-2024) due to a significant increase in debt burden caused by full-scale military aggression. It should be noted that during 2015-2021, many measures were taken to manage public debt, which made it possible to characterize Ukraine's debt sustainability as satisfactory, based on the analysis of all calculated indicators. The level of organisational support for debt sustainability assessment in Ukraine is limited. The main regulatory act in force that defines economic security indicators and their critical limits until 2025 is the Economic Security Strategy of Ukraine for the period until 2025. Domestic practice and official government documents record a rather limited set of analytical tools, which mainly include research on the structure of debt and the basic indicator of the ratio of public debt to GDP. More complex international assessment methods are not sufficiently applied. Currently, the Methodological Recommendations for Calculating Ukraine's Economic Security Level, which provided for an expanded gradation of debt security assessment based on five indicators (with optimal, satisfactory, unsatisfactory, dangerous and critical values), are no longer in force. The assessment of debt sustainability in Ukraine should be based on a clear methodology, which should be enshrined in a regulatory act and used on a regular basis by the body responsible for managing public debt. The results of Ukraine's debt sustainability assessment should be made public and included in the public debt management strategy. It is not enough to set only a critical threshold for debt sustainability assessment indicators; to differentiate between levels of debt sustainability, it is necessary to introduce an expanded gradation of indicator assessment. It is advisable to return to the use of the gradation of values that was in the Methodological Recommendations (optimal, satisfactory, unsatisfactory, dangerous and critical values), as it considered international recommendations. International approaches and indicators for assessing debt sustainability should be used more actively. When assessing debt sustainability, due attention should be paid to the primary balance of the state budget (primary deficit/surplus), as is common in international studies.