Social economics

SUSTAINABLE DEVELOPMENT OF CITIES AND TERRITORIES: STRATEGIC DEVELOPMENT THEORY AND MEASUREMENT METHODOLOGY

Dmytro Anfilov — 2024-06-30

We aim to systematize the elements of sustainable development of cities and their social and ecological components in the theoretical and methodological basis of measuring the effectiveness of post-war reconstruction of the country. We study the theoretical and practical aspects of the economic growth of cities, and we systematize the components of implementing the strategy for achieving sustainable development of cities in the post-war period. We present the main characteristic features of the effective regional policy of the EU and Ukraine, highlighting the revitalization of polluted land plots in cities, the modernization of industrial facilities, the integrated regeneration of urban and rural areas, the development of environmentally friendly urban transport, and the development of residential construction.

We indicate the key aspects of the industrial waste management system in the city and the main directions: production-oriented, socially-oriented, and marketing management approaches. We find that organizational decisions should reflect the harmonious interaction of enterprises in handling industrial waste from the city-forming, city-maintenance, and city-building spheres. We characterize the key aspects of the industrial waste management system in the city and describe a set of methods for evaluating the sustainable development of cities.

We substantiate the importance of applying the scientific and methodological foundations of Zipf’s Law, considering it universal for measuring the effectiveness of the functioning of local communities and territories. We note that for the benefit of future generations, the strategy of sustainable development of cities should satisfy their own needs, covering social, economic, and ecological dimensions. We highlight the interrelationship of the components and present a scientific and methodological approach to determining the level of urbanization of the city, taking into account the index of sustainable development of the city based on Zipf’s law, which we have developed.

FEATURES OF THE FUNCTIONING OF THE NATIONAL LABOR MARKET IN CONDITIONS OF MILITARY THREAT AND INTERNAL POPULATION DISPLACEMENT

Liudmyla Akimova — 2024-06-30

The article presents a comprehensive study of the peculiarities of the functioning of the Ukrainian labour market in the context of modern challenges. The objective is to identify existing problems and transform the state policy in the labour market. The study was conducted based on data from the State Employment Service, the online job search portal Work.ua, and various sociological surveys of labour market participants and experts. The results of the analysis demonstrate that the Ukrainian labour market has undergone significant transformations during the war compared to peacetime. These include: 1) A notable decrease in the number of registered unemployed individuals. 2) A reduction in the proportion of unemployed individuals receiving unemployment benefits. 3) A sharp decline in the number of vacant jobs and employers informing the State Employment Service (SES) about available vacancies. 4) A high burden on vacant jobs. It can be posited that there was a considerable surplus of labour and considerable tension in the registered labour market during the war.

According to the online job search resource Work.ua, the following trends have been identified in the general labour market of Ukraine: ) A «shock» state of the general labour market in 2022, with a gradual stabilisation in 2023. 2) The professional structure of labour demand in the most popular occupations did not change significantly during the war. The most popular occupations in the labour market are sales managers and sales consultants, accountants, and drivers. 3) A decrease in labour demand during the war occurred in several occupations, but the most significant decrease in labour demand occurred in the IT sector. In the majority of western regions, the ratio between professions with an increase or decrease in the number of vacancies favoured the former. In contrast, in the vast majority of eastern and central regions of Ukraine, the balance of changes in the number of vacancies is negative. Furthermore, in the face of threats to life and health, there is an increase in the supply of remote work. It can be stated that the main problems faced by employers when hiring employees are a lack of candidates for positions and an insufficiently qualified applicant pool. In this paper, we prove that the main problems of job seekers in the current conditions are unsatisfactory remuneration, a reduction in the scope of labour application, and age discrimination in the labour market. According to a survey of experts

EMERGING GAMBLING MARKET OF GEORGIA (ECONOMIC DIMENSION)

Besik Bolkvadze — 2024-06-30

There are many different views on gambling in the history of mankind, which leads to constant debate about the advantages and disadvantages of gambling. In particular, one group of people sees it as a way to have fun and rejuvenate; the second group considers it as a category of moral decline of human beings; the third group views it as social evil and crime-prone behavior; another group deems gambling as a business activity and supports its legalization. Gambling has negative as well as some positive impact on the economy of the country and the society general. The paper considers the challenging issues of the gambling policy of Georgia in recent years from pragmatic as well as conceptual point of view, where the social losses and economic benefits of gambling are presented.

In a purely economic sense, gambling is as much a business as any other business in the business sector, but it differs radically from all other areas of business in the following specifics for the state and the society living in this field: 1. a «set» of extremely high social risks is created, the partial neutralization of which is possible only in case of its best organization; 2. In any country, the gambling business is associated with the ugly and difficult-to-control practice of money laundering, which states are struggling with through various monitoring levers and mechanisms.

The work deals with analysis and discussion of the role of gambling business and its importance in economy, objective and subjective factors of increase and development of the gambling segment, effects of its positive and negative influence on stakeholders, fiscal determinants, financial-economic and social-economic problems of the sector, proper recommendations have been developed on the basis of the theoretical and empirical analysis and conclusions.

SOME ASPECTS OF THE ANALYSIS OF CYCLICAL FLUCTUATIONS IN THE ECONOMY (IN THE CASE OF THE CORONAVIRUS PANDEMIC CRISIS)

Kamoliddin Jabbarov — 2024-06-30

The global economy is characterized by cyclical fluctuations, often leading to periods of economic crises. The COVID-19 pandemic, which began in December 2019 in Wuhan, China, has caused a significant economic downturn, exacerbating pre-existing vulnerabilities and introducing new challenges. This paper delves into the intricate dynamics of these cyclical fluctuations, focusing on the recent pandemic crisis and its profound impacts on global economies. It examines the underlying causes and manifestations of economic crises, drawing on historical data and theoretical frameworks from renowned economists such as J.M. Keynes, G. Soros, and contemporary researchers.

The study employs a systematic methodology encompassing comparative analysis, statistical observation, and scientific abstraction to dissect the causes and effects of the pandemic-induced crisis. The research categorizes crisis causes into natural, fundamental, instrumental, and behavioral groups, attributing the COVID-19 crisis primarily to natural causes. The analysis reveals that, before the onset of the pandemic, the global economy was already teetering on the brink of a crisis due to factors such as sharp economic fluctuations, declining gross demand, rising external debt, and the intensification of trade wars.

The paper further explores the chronology of economic crises from the 19th century to the present, highlighting the recurrent nature of these downturns and their varied triggers. Historical crises such as the Great Depression, the 1997 Asian financial crisis, and the 2008 global financial crisis are analyzed to draw parallels and contrasts with the current situation. The study emphasizes the role of pre-crisis conditions and the exacerbating effects of the pandemic, noting that crises often result from a confluence of multiple stressors rather than a single cause.

Results from the analysis indicate that the economic policies implemented by major economies such as the United States, European countries, and China during the pandemic have had mixed outcomes. While measures like quantitative easing and fiscal stimuli have provided temporary relief, they have also led to significant imbalances, such as the ballooning of public debt and the overreliance on monetary policy tools. The study highlights the differential impact of the crisis on various sectors, with tourism, transportation, and energy investments being particularly hard-hit, while digital technologies and remote working solutions have seen accelerated growth.

The paper concludes with a set of policy recommendations aimed at mitigating the adverse effects of the pandemic and fostering economic recovery. Key suggestions include expanding digitization, maintaining strict public health measures, gradually resuming economic activities with appropriate safety protocols, and fostering international cooperation to ensure a coordinated response to the crisis. The study underscores the importance of learning from past crises and adapting policies to address the unique challenges posed by the COVID-19 pandemic, ultimately aiming for a more resilient and inclusive global economic recovery.

COUNTRY-BY-COUNTRY REPORTING OF LEADING EU-UKRAINE FORESTRY COMPANIES: ENVIRONMENTAL CAPITAL DISCLOSURE COMPARATIVE STUDY

Zhanna Oleksich — 2024-06-30

This study aims to analyze the activities of forestry companies in both the European Union countries and Ukraine through an examination of their non-financial reports. By scrutinizing these reports, the study seeks to unveil aspects of social responsibility and assess the degree of implementation and achievement of Sustainable Development Goals. Special attention is given to the disclosure of ecological information by forestry enterprises, aimed at identifying potential risks and enhancing investor and consumer trust. The article underscores the significance of ecological responsibility within the strategies and operations of these companies. It highlights the sustainability report as a pivotal tool for modern forestry firms, fostering improved management practices, collaboration, and development based on sustainability principles. The push for non-financial information disclosure, driven by EU Directives, incentivizes enterprises to refine their strategies, incorporating ecological and social considerations and fostering responsible conduct towards stakeholders. The authors conduct an in-depth analysis of transparency levels, ecological responsibility, and the extent to which ecological aspects are integrated into the operations of forestry enterprises. Companies that effectively implement and expand non-financial reporting in the forestry and wood processing sectors are better positioned to attract investments from funds and consumers prioritizing sustainability and ethics. Consequently, this fosters a positive public perception and enhances competitiveness. The relevance of this research lies in its contribution to environmental preservation and the establishment of a sustainable economy. The findings are expected to provide valuable insights into environmental management practices and guide efforts towards enhancing ecological sustainability in forestry.

ECONOMIC WELFARE AND SOCIAL WELL-BEING OF THE POPULATION OF UKRAINE IN THE POSTWAR YEARS

Natalia Riabinina — 2024-06-30

In difficult times of the country, the state is trying to fulfill its socio-economic obligations to society. A significant burden on the implementation of the budget policy is borne by the economic and financial sector of business in cooperation with the authorities. The implementation of the priority goals of sustainable development, which envisages improving the standard of living of the population and overcoming poverty, is also manifested in the economic burden and moral and ethical norms of each person. The analysis of economic well-being and social well-being in a single concept of social capital highlights the main directions of the state’s work, which are manifested not only in social assistance and targeted support, but also in the desire of every Ukrainian for self-realization and initiative. The chain of interaction "state-business-society", based on respect and trust, is the main driver of development, innovative progress in the reconstruction of the post-war country. The chain of interaction "state-business-society", based on respect and trust, is the main driver of development, innovative progress and recovery of post-war countries. Ukrainian society needs attention and assistance in a difficult time for the country: raising the subsistence minimum and minimum wage, regulating pricing policy and food security, reducing unemployment and migration, strengthening the areas of education and healthcare reform, etc. The article highlights the understanding and division of socio-economic development in two directions, which is based on economic welfare (objective economic welfare, subjective economic welfare and contrived economic welfare) and social well-being (social well-being of society and social well-being of the individual), proposes a definition and analysis of the qualification features of these concepts. Objective economic welfare is the main component of economic welfare, which is responsible for the level of availability of priority goods and services for the population, and state assistance in this direction is extremely necessary. The effectiveness of state institutions in terms of forecasts and specific assistance and developments of low-income segments of the population is evaluated. Statistical and comparative analysis of the dynamics of consumer prices during the war gives hope for the stabilization of pricing policy and food security. The food market is a rigid project of the real path of socio-economic development of the state, which, on the basis of purchasing power, reflects the capabilities of the population, the level of satisfaction of the necessary needs.

ENTROPY INDICATORS FOR AN ESTIMATION OF CURRENCY RISKS

Valeria Yatsenko — 2024-06-30

As the world’s largest by-turnover financial market, foreign exchange market is undoubtedly an open, dynamic system. A wide range of variables influence it, i.e., political and economic factors, global shocks. Simultaneously, currency distress also affects the countries’ financial and real sectors. It determines the crucial importance of maintaining a stable, predictable exchange rate and, in the opposite case, effective currency risk management, requiring proper measurement. Since statistical methods of currency risk assessment do not always guarantee a reliable reflection of potential threats due to the noise in financial time series or irrational agents’ behaviour, it is necessary to search for alternative risk measurement methods. One way is by using tools of the theory of dynamic nonlinear systems, namely entropy indicators, such as Shannon and Renyi. Because of the high economic, or rather trade, openness, besides the hryvnia itself, we investigated currency fluctuations of the leading imported markets for domestic products. The reason is the potential transmission of shocks from these countries to Ukraine via various mechanisms. Counter-intuitively, a high entropy, implying more significant uncertainty, complexity, and unpredictability, simultaneously indicates more mature, efficient, self-organized systems. In contrast, lower entropy values would indicate inefficient markets exposed to shocks and even bifurcations, particularly crises. Moreover, we propose considering entropy as a reliable indicator of risks based on the statistical and economic significance of correlation coefficients with other qualitative characteristics of distributions of exchange rate returns - skewness and kurtosis. The results may help investors and portfolio managers better understand exchange rate dynamics, make effective managerial decisions, and minimize losses from unfavourable volatility.

MARKETING AUDIT AS A TOOL OF MARKETING ANALYTICS

Valentyna Litynska — 2024-06-30

The article systematizes the existing approaches to the interpretation of the concept of «marketing audit». In particular, scientists study marketing audit depending on the analysis process, research method, analysis tool, content of marketing diagnostics, management process. In addition, the factors that have a significant impact on the definitions of «marketing audit» are identified: speed of change, digital transformation, customer focus, integrated approach, data analysis.

Based on the generalization of approaches to the interpretation of the concept of «marketing audit» and factors that have a significant impact on this concept, it is proposed to define marketing audit as an improved tool used by companies for in-depth analysis of their marketing activities in order to identify opportunities for increasing efficiency and competitiveness. A marketing audit is not only an analysis of a company’s marketing strategies and actions, but also a systematic review of its marketing activities taking into account changing market conditions and internal factors.

Taking into account the peculiarities of today’s situation in Ukraine, the article defines the actual tasks of marketing audit as an element of marketing analytics. The characteristic features of marketing audit are also formed: completeness, systematicity, independence, regularity. It was determined that marketing audit has a positive effect on marketing analytics.

In the article, special attention is paid to distinguishing cases in which it is advisable to conduct a marketing audit immediately, that is, in the case of a change in the assortment, in the event of a significant increase in sales volumes, insufficient information about the market or vice versa, and in cases of impossibility to plan purchases and predict financial results in the absence of appropriate information.

INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES

Roman Sherstiuk — 2024-06-30

The article deals with the peculiarities of formation and implementation of the enterprise development innovation strategy. The research substantiates the demand for adapting innovation processes to modern challenges, including the use of digital platforms and the transition to a corporate or open innovation model. The fundamental principles of an effective enterprise development strategy based on a new management paradigm are highlighted. A new understanding regarding the essence of the category “innovation strategy” is proposed. The conditions for successful implementation of the enterprise innovation strategy are determined: defining the mission, goals and objectives of the enterprise innovation activity; breaking the process into stages and determining the expected results; applying flexible models of the innovation process; developing indicators for objective evaluation of the innovation activity results; improving the innovation culture; identifying and developing creative talents; introducing and implementing innovative initiatives; maintaining customer feedback; inter-organizational cooperation. An algorithm for building inter-organizational cooperation in the innovation activities of enterprises is designed. The experience of developing and applying innovative strategies is highlighted on the example of well-known innovative companies. It is proved that the success of their implementation depends on the concentration of financial, material, informational and intellectual resources in the context of innovation development priorities. It is emphasized that in the process of forming an innovative strategy for the development of enterprises, it is necessary to take into account a number of factors, such as the enterprise’s market position, its technical and technological potential, management system, ethics and business culture, as well as research capabilities. A properly chosen and justified innovation strategy has shown itself to be the key to the successful development of an enterprise in the future. The authors’ research findings and practical recommendations contribute to the effective use of the enterprise’s innovation strategy for the sustainable development of business organizations and their network associations.

CRYPTOCURRENCY MARKET CYCLES

Oleksii Dotsenko — 2024-06-30

This article is dedicated to a detailed analysis of market cycles in cryptocurrencies and their impact on investment strategies. The article thoroughly examines various stages of these cycles, their characteristics, and their interconnections with other economic factors. It explores the factors influencing the duration and intensity of these cycles, as well as methods of utilizing them to develop successful investment strategies. The research findings highlight the importance of understanding psychological factors such as FOMO (fear of missing out) and FUD (fear, uncertainty, and doubt), as well as the impact of halving on the cryptocurrency market. Investors who comprehend these aspects and adapt their strategies to the volatile market conditions can achieve success in their investments.

The article also emphasizes the importance of in-depth analysis of market cycles for developing effective investment strategies. Special attention is given to the stages of accumulation, markup, distribution, and markdown in the cryptocurrency market, each of which has its unique characteristics and can be leveraged for profit maximization. The influence of regulatory changes, technical innovations, and global financial events on these cycles is examined. The authors also analyze the interaction of supply and demand, particularly how the reduction in mining rewards (halving) affects cryptocurrency values.

The study shows that understanding market cycles allows investors to better predict market movements and make more informed decisions. Examining the impact of psychological factors on investor decisions is crucial for avoiding unjustified losses and maximizing gains. Additionally, the article considers long-term investment strategies that take into account halving periods, which can lead to significant increases in asset values.

Based on the analysis of cryptocurrency market cycles and the influence of various factors, the work concludes that a deep understanding of these processes is necessary for successful investing. The recommendations provided in the article can be useful for investors looking to develop resilient and effective strategies in the highly volatile cryptocurrency market.

DEVELOPMENT OF DIGITAL SALES CHANNELS OF BANKING PRODUCTS AND SERVICES

Dmitro Mangushev — 2024-06-30

The article examines the main stages of the development of digital channels for the sale of banking products and services. In particular, such stages as traditional banking, development of digital channels, multi-channel service and dominance of digital sales channels are highlighted. At the stage of traditional banking, the predominant sales channel for banking products and services are physical bank branches. At the second stage, banks begin to master electronic sales channels, their share in sales increases. At the third stage, banks begin to actively apply and build a balanced model of traditional and alternative sales channels, along with Internet banking, mobile banking is becoming widespread. In the fourth stage, digital sales channels prevail over traditional ones, and only complex banking products are sold in branches. Neobanks are characterized as a business model for banks at the stage of dominance of digital sales channels. The trend is for neobanks to expand into new markets, such as SME lending and investment services, as well as partnerships with traditional financial institutions. Alternative approaches to structuring the stages of development of digital sales channels are considered. The main characteristics of Internet and mobile banking as the main digital sales channels are summarized. It found that banks should continue to improve the value proposition of digital sales channels by focusing on developing the online banking experience, rather than just looking at phasing it out in favor of mobile banking. One of the most common trends in mobile banking is the extraordinary functionality of the application. Mobile banking should not be an additional alternative application with a minimum of functions that complement Internet banking. Rather, it is a full-fledged access channel to all banking products.

THE IMPACT OF SOCIAL MEDIA ON CONSUMERS: ANALYSIS OF TRENDS AND MARKETING STRATEGIES

Natalia Nazarenko — 2024-06-30

This scientific article offers a comprehensive analysis of the impact of social media on consumers in the modern world. By illuminating various aspects of this phenomenon, it explores the relationship between social media activity and consumer practices. The authors focus on the influence of social media on shaping consumer preferences, decision-making processes regarding purchases, and the formation of perceptions about brands and products. The article analyzes various theoretical approaches and concepts related to this topic, encompassing psychological, sociological, and marketing aspects. The research is based on an extensive analysis of current data and scientific literature in this field. The results confirm the significant impact of social media on consumer practices and brand perception, underscoring the importance of studying this issue for modern marketing and business development. The analysis allows for understanding trends in marketing communication and developing strategies for effective use of social media in the contemporary business environment, contributing to the development of innovative approaches to audience interaction.

The study also focuses on the influence of social media on shaping consumer identity and social behavior. It highlights the mechanisms through which social media affect self-perception and one’s place in society, as well as decision-making regarding consumption of goods and services. The authors analyze how social media serve as platforms for shaping social norms and values, which impact consumer practices and interaction with brands.

Additionally, the article thoroughly examines the tools and methods of marketing communication in social media. The authors analyze the effectiveness of various strategies for promoting goods and services through social media, including the creation of video content, advertising campaigns, and interaction with influential personalities and brand ambassadors. Significant attention is paid to analyzing the effectiveness of targeted advertising on social media.

The results of the study reveal the issues of consumer interaction with social networks, which will help businesses to use this communication channel to promote their goods and services. Considering the rapid development of digital technologies and the growing influence of social networks on society, further investigation in this area is crucial for the development of effective marketing strategies and the support of successful commercial activities of enterprises.

NON-FINANCIAL REPORTING IN THE CONTEXT OF EUROPEAN INTEGRATION: TRANSFORMATION, CHALLENGES AND PROSPECTS

Oksana Nesterenko — 2024-06-30

The purpose of this article is to identify the key areas for further improvement of the organizational, methodological and regulatory support for the preparation and submission of non-financial reporting by Ukrainian enterprises in the context of European integration. To achieve this goal, the study provides for the solution of the following tasks: research and characterization of the methods of preparation of non-financial reporting; development of an algorithm for preparation, formation and disclosure of integrated reporting; identification of the main problems and challenges arising in the preparation of reporting in accordance with international standards and recommendations for their leveling. It is substantiated that users of accounting and reporting information today are interested not only in financial performance indicators of enterprises, but also in sustainable development as an integral part of business, which is measured mainly by non-financial indicators, which is ensured by the formation of integrated reporting. The paper proves that the introduction of integrated reporting in Ukraine is an essential proof of the country’s integration into the global and European society, since joining the European Union not only requires fulfillment of a number of certain criteria, but also obliges the candidate country to achieve and maintain a certain level of economic, social and environmental well-being. The author develops an algorithm for preparation, formation and disclosure of integrated reporting, at each stage of which the main functions and tasks to be solved by the management apparatus are indicated. The features of the formation of integrated reporting according to the international standards of the Global Reporting Initiative and the Sustainability Accounting Standards Board are disclosed. The characteristics of a sociological survey on the prevalence of the use of reporting standards among leading companies are presented. The mechanism of joint use of GRI and SASB standards in the formation of sustainability reports is substantiated, which will allow obtaining a comprehensive characterization of corporate activities, which will disclose information on the achievement of sustainable development goals and organized financial information. Prospects for further research in the subject matter of this article are related to the development of a mechanism for improving the quality and international comparability of non-financial reporting to assess the contribution of the corporate sector to the achievement of sustainable development goals.

DIGITAL TRANSFORMATION AND THE USE OF ARTIFICIAL INTELLIGENCE IN SOCIAL INSURANCE AND INSURANCE

Elizaveta Pletneva — 2024-06-30

The goal of writing this article is to explore the impact of artificial intelligence on enhancing efficiency and ensuring the competitiveness of insurance companies, as well as to uncover the opportunities and advantages, downsides, and challenges of using digital technologies in social insurance and insurance. Digitalization in this field occurs under the influence of globalization, technological innovations, and changes in demographic trends. The study pays special attention to the impact of digital technologies on insurance processes, including the use of big data and artificial intelligence for personalizing insurance products and optimizing risk assessment and claim processing procedures. The research also focuses on analyzing the effects of these changes on social equity and the accessibility of insurance services for different population strata. This article provides a comprehensive view of the trends and prospects for the development of social insurance and insurance, highlighting both theoretical and practical aspects of reforming these systems in the context of modern socio-economic challenges. The research shows that companies that reject innovation will face higher costs in the future compared to those actively implementing new developments. These companies will also face challenges in attracting high-risk clients, whereas innovations help attract more reliable clients who benefit from personalized products. This article demonstrates that through digitalization of insurance, clients become more satisfied and interested in insurance services, which leads to increased insurance premium revenues. Moreover, digital technologies help reduce costs by optimizing decision-making and reducing risks, thereby enhancing the efficiency of insurance operations and strengthening the competitive advantages of insurers. The advantages of digitization and the use of AI include improved accuracy of risk assessment, process automation, product personalization, fraud detection, and enhanced investment decision-making. The downsides may include data confidentiality issues, the exclusion of the human factor, the risk of algorithm bias, implementation complexity and high costs, and the threat of unemployment.

PROMOTION OF PRODUCTS IN THE COURSE OF FOREIGN ECONOMIC ACTIVITY OF THE ENTERPRISE

Viktor Rozhko — 2024-06-30

The purpose of this article is to study and reveal the essence of the methods of effective internationalization of products; to study the key nuances of international marketing; to consider modern distribution channels and ways of using digital technologies to promote products internationally.

The article examines the role of marketing in the context of modern progressive development of economic conditions, and also studies scientific and Internet sources on the basis of which the author researched the history of the concepts of marketing and marketing mix, and the importance of constant correlation between the company's goals and the requirements and needs of product consumers in today's conditions. The author also considers the elements of the marketing mix, determines the importance of Internet marketing in the present day, and studies in detail the tools for Internet marketing. The stages of creating an effective system for managing the marketing activities of an enterprise in case of its entry into the international market are outlined, the main organizational structures for organizing the management of the company's marketing activities are allocated. The favorable reasons for entering the international market are highlighted, the details that should be taken into account when planning the entry of an enterprise into the international market are indicated. The author also identifies the results that an enterprise will receive by entering the international market.

Effective marketing activities for any company are a direct way to achieve its goals. Creating an effective system for managing international marketing activities is a difficult task, but a properly designed and implemented system can be a key factor in the success of an enterprise in the international market.