Collection of research papers «ECONOMIC STRATEGY AND PROSPECTS OF TRADE AND SERVICES SECTOR DEVELOPMENT»
TYPOLOGY OF ENTERPRISE DIGITAL TRANSFORMATION STRATEGIES IN THE CONTEXT OF RISK RESILIENCE MANAGEMENT
In the rapidly evolving landscape of Industry 4.0 and 5.0, digital transformation has shifted from being a competitive advantage to a fundamental imperative for business survival. However, empirical evidence suggests a growing "digital vulnerability paradox," where accelerated technological adoption without a corresponding evolution in risk management systems leads to operational fragility rather than efficiency. Consequently, this paper addresses the critical scientific and practical problem of justifying a typology of digital transformation strategies through the lens of risk resilience management. The study employs a structural-logical approach to synthesize two key dimensions: the intensity of digital innovation and the depth of risk resilience integration. By analyzing the differentiation of strategies, the authors propose a multi-dimensional matrix that correlates organizational architecture levels with functional domain coverage. Based on this framework, the research identifies and characterizes four distinct strategic archetypes of digital transformation. The "Defensive Strategy" focuses on maintaining current positions and protecting assets through isolated risk management practices, primarily located within IT departments. The "Adaptive Strategy" is characterized by flexible, iterative implementation of changes with cross-functional coordination, allowing for tactical adjustments. The "Proactive Strategy" utilizes "predictive intelligence" to identify threats early and convert them into strategic insights. Finally, the "Transformational Strategy" represents the highest level of maturity, where risk resilience acts as a driver for value creation, involving a fundamental rethinking of the business model. A significant theoretical contribution of the study is the conceptualization of risk resilience levels – ranging from operational and fragmented to strategic and systemic. The authors argue that high-level strategies require the formation of specialized dynamic capabilities, such as an adaptive response architecture and strategic transformation ability. Furthermore, the paper introduces the Digital Value Resilience Ratio (VRR), a mathematical formalization designed to measure the relationship between preserved value and newly created value relative to the initial value at risk. This metric quantitatively validates the shift from a risk-avoidance paradigm to one of risk-based value generation. The study concludes that successful digital transformation requires a holistic integration of risk resilience mechanisms into the corporate DNA, where moving from a Defensive to a Transformational strategy necessitates an organizational evolution where risk management ceases to be a control function and becomes a strategic resource for navigating uncertainty.
Copyright (c) 2025 Collection of research papers «ECONOMIC STRATEGY AND PROSPECTS OF TRADE AND SERVICES SECTOR DEVELOPMENT»
OPEN INNOVATION CONCEPT: IMPLEMENTATION IN FOOD INDUSTRY ENTERPRISES
The article examines the specific features of implementing the open innovation concept in Ukrainian food industry enterprises. Given the growing role of innovation-driven interaction and inter-firm cooperation in ensuring competitiveness, an assessment was conducted of the activity level of food industry enterprises in adhering to the principles of open innovation. The study compares the indicators of innovation activity in the food industry with similar indicators of innovation-active enterprises across the economy and by types of economic activity. For a comprehensive evaluation, indicators were calculated that reflect the scale of open innovation adoption, the share of employees involved in innovation activities, labour productivity levels, and the volume of sold products. The analytical basis of the study was formed using data from the State Statistics Service of Ukraine. The results of the comparative analysis indicate that food industry enterprises demonstrate a relatively high level of inter-firm cooperation and are active users of external sources of knowledge, technologies, and partnership-based interactions. Compared to an average innovation-active enterprise and firms from other sectors, the food industry is characterised by broader application of open innovation principles. At the same time, it was found that the share of employees engaged in innovation activities, as well as labour productivity in innovation-active food enterprises, is lower than in more technologically intensive industries. The findings highlight the presence of structural constraints in the development of the innovation potential of food enterprises and underscore the need to modernise production processes, strengthen human resource capacity, and enhance institutional support to foster sustainable open innovation models.
BRAND MANAGEMENT AND MARKETING PROMOTION OF HIGHER EDUCATIONAL INSTITUTIONS
The higher education system of Ukraine is facing unprecedented challenges. In the regions close to military operations, particularly in Kharkiv, higher education is at risk of losing its student body, scientific and pedagogical potential, as well as its material and technical base. Thanks to digital technologies, institutions in these regions have switched to online learning and continue to operate. However, to develop further, they require additional competitive advantages and increased attractiveness. Under these conditions, the university brand becomes a strategic asset that significantly affects competitiveness. Therefore, effective brand management is necessary to enhance recognition, improve attractiveness for all stakeholders, and adapt to current challenges. The purpose of this article is to develop theoretical foundations and practical recommendations for brand management and the marketing promotion of higher education institutions. Given the specifics of educational services and stakeholder relations, the multidimensional nature of a university brand is highlighted. It manifests itself in three aspects: orientation toward several target audiences; promotion of diverse products; and implementation of educational, scientific, commercial, non-commercial, managerial, and marketing activities. A model of the university branding process is proposed, which includes the following stages: brand building, materialization, implementation, promotion, and interaction. These stages reflect the logic and sequence of practical actions: forming a value proposition; defining meanings and attributes; and communicating information while interacting with target audiences. The uniqueness of the value proposition is emphasized as a key factor in the success and development of higher education institutions. It is determined by the ability to combine relevant educational programs, innovative teaching methods, modern technologies, updated infrastructure, strong scientific and pedagogical potential, and research achievements – and to promote all this under a single strong idea. The importance of adapting the brand of a higher education institution to a changing environment is substantiated; thus, brand management is proposed as the final stage. Its task is to ensure competitiveness, responsiveness to challenges, and long-term sustainability by regularly updating and strengthening all brand components. General practical recommendations are provided in the context of creating a holistic image, developing a communication strategy, and building partnerships. In addition, specific recommendations for brand management are proposed, depending on the location of the institution and the level of risk it faces.
THEORETICAL AND PRACTICAL ASPECTS OF MANAGEMENT OF FINANCIAL SUPPORT OF BUSINESS ENTITIES
Financial support is a prerequisite and determining factor for the creation, existence, prospects, and directions of development of socio-economic systems at various levels. Scientists are trying to solve the following problems: the essence of financial support as an economic category; its manifestation at various levels of the economy; the components of this system (methods, forms, principles, levers of influence, and control instruments); differences and interrelationships with financing, financial mechanisms, financial relations, financial regulation, financial security, and more. Our systematization of scientific approaches revealed: the predominant use of systemic, process-based, and comprehensive approaches; insufficient or flawed reasoning by researchers; results acceptable for creating a financial support management system. The concept of financial support for business entities (their projects, areas and types of activity, innovative development, crisis management, competitiveness, viability, etc.) consists of a system of principles, goals, subjects, objects, methods, and channels of creation. They are oriented toward certain levels of economic relations and the corresponding financial mechanism for achieving the declared goals. The practical aspects of financial management are closely linked to the state and prospects of national entrepreneurship. The investment climate in the country has been deteriorating recently, as confirmed by businesses and the international community. This is due to military actions, economic destruction, and imperfect actions by the state. Investment lending is being hampered by: the NBU's high discount rate; risks associated with solvent borrowers; a large share of non-performing loans; and the predominance of short-term deposits. The main investment tool for domestic enterprises has been and remains their own funds (equity capital, profits, depreciation, additional contributions from founders/owners). The reasons for insufficient bank financing are the following: high interest rates; collateral requirements; complex procedures for formalizing agreements; lack of certain financial products; poor credit history or advanced age of the borrower-entrepreneur; operations in frontline territory; insufficient awareness of existing opportunities on the part of the entrepreneur. The activities of government organizations to remove these obstacles and the state of national budget support have been analyzed. A truly effective financial management system is impossible without: the introduction of European standards and norms; harmonization with European legislation; broad access to international assistance without special state support; improving the financial literacy of entrepreneurs; stimulating the introduction of factoring, leasing, crowdfunding, and microfinance, as well as state and private guarantee programs; and strengthening financial transparency requirements.
APPLICATION OF ARTIFICIAL INTELLIGENCE IN AUTOMATED FINANCIAL RISK MANAGEMENT SYSTEMS
The article is aimed at studying the use of artificial intelligence in automated financial risk management systems to improve the accuracy, efficiency, and effectiveness of managerial decision-making in the financial sector. The study consists in a comprehensive study of the theoretical and methodological foundations of the use of artificial intelligence in management systems, analysis of modern approaches to the classification and assessment of financial risks using machine learning algorithms, formation of the architecture of the decision support system based on forecasting models, as well as evaluation of the effectiveness of the built models based on the results of simulation modelling. Within the framework of the study, a model predicting the credit risk of bank customers has been developed, which allows assessing solvency based on historical data and modern machine learning methods. The research method is modelling using machine learning tools, including neural networks and ensemble learning techniques, as well as data analysis using platforms to visualise results and evaluate the performance of models. Particular attention is paid to data preparation, selection of appropriate features, evaluation of model accuracy, and construction of interpreted visualisations such as SHAP graphs, ROC curves, etc. The result of the study was the creation of an effective model for predicting credit risk, which demonstrates a sufficiently high level of classification accuracy and the ability to adapt to changes in input conditions.
FINANCIAL SECURITY AS A KEY POINT OF VIEW IN BUILDING A MODERN FINANCIAL ARCHITECTURE
The purpose of the article is to substantiate the influence of a multi-vector complex of external and internal factors on the financial security of an enterprise, to identify key elements of the formation of a reliable mechanism and to characterize the constituent determinants of the system of ensuring the financial security of business entities as a key reference point for the development of modern financial architecture. Financial security can be characterized as a certain level of independence, stability, and stability of the development of internal and external financial and economic systems, their ability to adapt in conditions of uncertainty and the impact of risks, the ability to ensure effective current functioning and prospective economic growth of business entities, taking into account the multi-vector influence of exogenous and endogenous factors. The level of financial security directly affects the level of financial condition of enterprises, determines the effectiveness of their financial and economic activities, therefore, special attention is required to study the complex of factors that affect the level of financial security, thanks to which it is possible to develop effective and justified management decisions. For successful and stable development in the long term, in order to protect, prevent and neutralize the effects of adverse and threatening factors, economic entities must systematically carry out a thorough analysis and forecast of the impact of exogenous and endogenous factors on the level of internal and external financial security. Financial security is an integral part and an important element of the formation of modern financial architecture, the purpose of which is to build an effective system to ensure a sufficient level of protection of the enterprise from the impact of internal and external threats. The article identifies and characterizes the key determinants of an effective system for ensuring the financial security of business entities, aimed at its formation, strengthening and further development: financial resources management subsystem; financial status and financial results management subsystem; financial, economic and investment and innovation potential management subsystem; market and specific risk management subsystem. The key guidelines for the formation of a reliable system for ensuring the financial security of Ukrainian enterprises in the conditions of war and post-war recovery of the national economy are identified. The development of an effective system of financial security of an enterprise as a key guideline in the concept of developing a modern financial architecture depends on a comprehensive approach that combines strategic planning and management, tactical and operational measures to respond to changes in the external and internal environments, monitoring and control of the effectiveness of the functioning of the constituent determinants of the security system, substantiation of alternatives and adjustment of management decisions, proactive response to risks and threats in conditions of uncertainty.
PRACTICAL ASPECTS OF REGULATING ACCOUNTING AND AUDITING OF RENT IN ACCORDANCE WITH NATIONAL AND INTERNATIONAL STANDARDS
The article is devoted to the study of the issues of organising accounting and auditing of lease transactions by a lessee, based on the analysis of the requirements of international financial reporting standards and national accounting regulations (standards). The paper analyses the key differences between the national and international standards. The criteria applying IFRS 16 to the lease agreement are analysed, and examples of situations in which the concluded agreement does not correspond to the concept of "lease" under IFRS are given. It is proposed to develop an internal policy for determining the lease term, the grounds for revising the term, sources of information at the enterprise, and the criteria for determining the lease term in accounting policies. The analysis of the right to early termination of the contract showed that in IFRS 16, the concept of materiality remains unclear and requires further clarification; therefore, it is proposed to fix specific criteria in the standard itself that determine the level of high costs or penalties. The main innovation of IFRS 16 is the introduction of a single model that requires lessees to recognize the “right to use an asset” and the associated “lease liability” on the balance sheet. The authors have formed a conceptual Single Model for Accounting for Leases by Lessees. In practice, information from the NBU statistics is most often taken to discount lease payments, so the authors propose to record in the accounting policy which NBU rate is used and for what period. A general model for assessing the lease liability and the right-of-use asset has been formed. The authors have identified audit procedures that are appropriate to perform in the process of auditing lease transactions by lessees, which are a real embodiment of the application of relevant methods and techniques, a certain sequence of which forms the verification methodology.
APPLICATION OF ARTIFICIAL INTELLIGENCE IN FORECASTING RIGHT-TAIL VAR FOR INTEREST RATE RISK MANAGEMENT
The study addresses the problem of forecasting the right-tail Value at Risk (VaR) of short-term interest rates in Ukraine during a period of heightened financial market volatility from January 3, 2020, to February 23, 2022, encompassing pre-crisis stability, the COVID-19 pandemic shock, and the initial phase of geopolitical escalation. Under conditions of financial uncertainty, the application of formalized quantitative risk assessment methods capable of capturing extreme interest rate losses and ensuring forecast stability becomes necessary. The objective of the research is to demonstrate the effectiveness of a hybrid approach to right-tail VaR estimation through the integration of classical econometric models (Historical Simulation, GJR-GARCH), machine learning algorithms (XGBoost), and long short-term memory (LSTM) recurrent neural networks into an ensemble structure. The dataset comprised daily interest rates on loans to corporate clients, published by the National Bank of Ukraine, with preliminary processing including logarithmic transformation, stationarity verification using the augmented Dickey-Fuller test, and heteroskedasticity assessment via the ARCH-LM test. Classical VaR methods showed adequacy during stable periods but exhibited inertia during sharp volatility changes, whereas GJR-GARCH provided more precise tail-risk assessment accounting for distribution asymmetry. Machine learning models XGBoost and LSTM captured nonlinear dependencies and complex temporal patterns, enhancing forecast adaptability to structural market shifts. The ensemble, formed as a linear combination of base model forecasts with weights inversely proportional to NRMSE, achieved the lowest breach rate (0.87%), minimal residual volatility (σ = 0.007), and high consistency of forecasts with actual log-returns. The scientific novelty lies in developing an integrated methodology for forecasting right-tail VaR in the Ukrainian short-term credit market characterized by high volatility, while practical significance is reflected in its applicability for implementation in bank risk management systems and corporate finance departments for effective interest rate risk management in post-crisis and conflict-affected environments. The proposed hybrid approach minimizes forecast errors, stabilizes VaR dynamics, and provides a balance between accuracy, stability, and risk assessment adaptability.
THEORETICAL AND METHODOLOGICAL BASIS FOR FORMING ACCOUNTING INFORMATION ON BANK CREDIT OPERATIONS
The article examines the theoretical and methodological foundations of forming accounting information on bank credit operations within the framework of modern digital transformation processes in the financial sector. The study emphasizes the importance of developing an integrated accounting architecture that ensures the reliability, consistency, and analytical depth of credit-related data throughout the entire credit life cycle – from issuance to repayment or recognition as uncollectible. The proposed architectonics of accounting information arrangement provides a structured approach to recording, classifying, and analysing credit operations, which enhances the transparency of financial reporting and supports effective decision-making by banking institutions. This substantiates the need to integrate analytical modules into accounting systems to automate data processing and enable real-time monitoring of credit portfolios. Particular attention is paid to the harmonization of national accounting practices with international financial reporting standards (IFRS), that promote comparability, accuracy, and compliance in credit risk assessment. The implementation of digital visualization tools for credit flows is proposed as a means of improving reporting transparency, analytical efficiency, and stakeholder confidence. The study highlights the role of modern information technologies in the optimization of accounting processes and risk management in banking. It is argued that the formation of accounting information should be based on the principles of continuity, transparency, and analytical integrity, which are essential for ensuring the stability and credibility of the banking system. The results of the study can be used to develop methodological recommendations and digital tools aimed at improving the quality, reliability, and analytical potential of accounting information on credit operations in banks.
ANALYSIS OF THE CURRENT STATE AND PROSPECTS OF HOTEL INDUSTRY DEVELOPMENT IN KHARKIV
The article conducts a comprehensive study of the current state and prospects of development of the hotel industry in Kharkiv in the context of the ongoing socio-economic and security challenges caused by the war in Ukraine. The authors analyze in detail the main changes that have occurred in the structure of the hotel market of the city, in particular, the reduction in the number of operating hotels, the transformation of the customer profile and the reorientation of hotel establishments to the needs of internally displaced persons, volunteers and the military. Based on data from online resources, a quantitative analysis of the types and level of service in Kharkiv hotels was carried out, the main indicators of quality, advantages and disadvantages of hotel services were determined. A separate section presents a comparative description of five Kharkiv hotels of different levels, which allows us to assess the overall level of adaptation of the industry to wartime conditions. The authors emphasize the importance of strategic planning for the further development of the hotel business in the region, in particular through attracting investment, developing domestic tourism, supporting international partnerships and reforming the security policy in the hospitality sector. The work has a practical orientation and can be useful for representatives of the tourism business, analysts, investors and local authorities in the formation of policies for the restoration and development of the tourist infrastructure of the city. The article also emphasizes the importance of using crisis conditions as an opportunity to modernize the hotel service, improve business models and actively form new formats of interaction with customers in the post-war recovery of the Ukrainian economy.
Copyright (c) 2026 Collection of research papers «ECONOMIC STRATEGY AND PROSPECTS OF TRADE AND SERVICES SECTOR DEVELOPMENT»
ASSESSMENT OF THE PRICE FACTOR IMPACT ON THE FOREIGN TRADE INCOME CHANGE
Foreign trade in base metals is an important part of the development of the economy of Ukraine. The products of the metallurgical industry are in demand on the world market, and their export ensures the formation of a significant part of foreign trade revenues. The purpose of the article is a quantitative analysis of the impact of the price factor on changes in foreign trade revenues of the leading group of Ukrainian export goods – base metals. This goal is defined in the hypothesis that the price factor has a significant impact on the volume of trade revenues in foreign economic activity. The methodological basis of the study is the determination of price "terms of trade" based on price indices, as well as the use of the index method to assess the impact of the price factor on trade profit (loss). A number of trends in the development of Ukraine's foreign trade have been identified, in particular, the rapid growth of the negative balance in the main groups of commodity exports and the predominance of the growth rates of import prices compared to the growth rates of exports. Based on the calculations, it was established that in 2023 trade loss from trade in base metals amounted to 390.8 million USD, and in 2024 – 386.4 million USD, respectively. It is proved that the trade loss in the base metals group was largely due to the influence of the price factor in the ferrous metals group. In 2023, the trade loss in trade in ferrous metals amounted to 386.0 million USD, which is 98.7% of the total trade loss in the base metals group. In 2024, the trade loss in the commodity subgroup "ferrous metal products" amounted to 183.7 million USD, or 98.4% of the total trade loss. The calculation of trade losses made it possible to outline the scale of losses to the Ukrainian economy from the deterioration of the "terms of trade." The study made it possible to identify the prospects of the studied goods in foreign trade from the point of view of state regulation of the development of the national economy.
SALES PROBLEM OR CONSUMER RELATIONSHIP: DETERMINANTS OF FUNCTIONAL FOOD MARKET PROMOTION
The marketing of functional foods is examined through the case study of muffins fortified with buckwheat fibre. The primary factors contributing to effective promotion have been identified. The utilisation of an integral indicator to evaluate the product's worth and formulate a pricing strategy is hereby proposed. The results obtained can be used in further research to adapt sales strategies.
THE IMPACT OF MODIFYING MARKETING APPROACHES ON THE LEVEL OF BUSINESS RESILIENCE IN THE FACE OF CHANGING CONSUMER PATTERNS
The article presents a detailed study of the impact of the transformation of consumer behavior on the change in the marketing approaches of enterprises and their role in shaping business resilience in an unstable market environment. The author analyzes in-depth the key factors that cause changes in consumer patterns, including social, economic and technological challenges arising from the global crises of recent years, such as pandemics, economic fluctuations, geopolitical tensions and changes in the climate situation. These factors are driving significant changes in consumer behavior, including in their priorities, ways of interacting with brands, and expectations for products and services. Attention is focused on the need for an integrated approach to the adaptation of marketing strategies of enterprises, in particular in the context of ensuring business sustainability through the introduction of flexible marketing models. The author considers adaptation tools such as omnichannel communications, personalization of content and offers for different consumer segments, integration of digital technologies into sales and customer service processes. These tools allow companies not only to interact effectively with modern consumers, but also to quickly adapt to changing market conditions, reducing the risks associated with external shocks. One of the important aspects of the study is the analysis of the adaptive potential of marketing strategies as a basis for the formation of enterprise sustainability. The article emphasizes that in conditions of high instability it is important not only to maintain competitiveness but also to actively seek new opportunities for development by adapting strategies to new realities emerging in the market. By integrating the latest marketing technologies, such as process automation and big data analytics, businesses can ensure effective customer relationship management and respond quickly to changes in demand. The paper examines in detail specific examples of companies that have successfully transformed their marketing strategies, while maintaining their competitiveness and ability to respond quickly to changing market conditions. Based on these practices, the author identifies the main principles that helped companies stay afloat during crises, including ensuring transparency of communications with customers, the ability to quickly reorient product portfolios and pricing strategies, and the use of the latest technologies to optimize internal processes. The paper also formulates a number of practical recommendations for improving the effectiveness of management decisions in the field of marketing. In order to achieve long-term viability and sustainability of a business in conditions of high uncertainty, it is necessary to implement strategic planning mechanisms that take into account both global trends and local challenges that can significantly change the business environment.
METHODOLOGY FOR ASSESSING THE IMPACT OF DIGITALIZATION ON THE ECONOMIC EFFICIENCY OF ENTERPRISE BUSINESS PROCESSES
This research aims to develop and empirically validate a methodological approach for assessing the impact of digitalization on business process economic efficiency and determining the optimal level of digital transformation investment. The study employs a mixed-methods approach combining quantitative analysis of data from 47 Ukrainian enterprises across manufacturing, retail, and service sectors with expert evaluations. An Integrated Digitalization Maturity (IDM) indicator was developed with industry-specific weighted coefficients for various digital technologies. The research established statistically significant correlations between the IDM indicator and key economic performance metrics: return on sales (r=0.723), labor productivity (r=0.684), and asset turnover (r=0.512), with correlation strength varying by industry (strongest in services at r=0.78). A one-unit increase in digital maturity corresponds to an average 2.94 percentage point increase in sales profitability. The research introduces a novel integrated approach to assessing digital maturity that accounts for industry specifics and enterprise scale. The developed economic-mathematical model addresses the non-linear relationship between digital investments and economic returns, determining optimal digitalization levels of 3.75 for manufacturing, 3.92 for retail, and 3.84 for service enterprises. The digital initiatives prioritization matrix classifying technologies into "quick wins," "strategic projects," "infrastructure projects," and "low-priority initiatives" provides practical guidance, enabling enterprises to optimize digital transformation investments based on quantifiable economic criteria rather than technological trends alone.
OPTIMIZATION OF STRATEGIC ENTERPRISE PROCESSES IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT PROVIDING
The article substantiates theoretical and methodological approaches to the optimization of strategic processes of an enterprise in the context of sustainable economic development providing. It is determined that the strategic processes of enterprises require improvement, taking into account the challenges of digital transformation and the need to integrate social and environmental priorities into strategic management. An algorithm for optimizing strategic processes is proposed, which is based on the sequence of stages, the application of digital technologies, information and analytical systems, and the possibility of cyclic adjustment of managerial decisions in case of their inefficiency. It is proved that the implementation of an integrated approach to the optimization of strategic processes contributes to the formation of a resilient enterprise management system and ensures the achievement of economic, social and environmental development goals. It is emphasized that the use of digital solutions in strategic process management is a necessary condition for increasing the efficiency of strategic management and achieving sustainable development goals in a dynamic economic environment. The purpose of the article is to substantiate approaches to the optimization of strategic processes of the enterprise, taking into account the concept of sustainable economic development and digital transformation possibilities. The relevance of the research topic is due to the need to implement integrated approaches to strategic enterprise management based on the use of digital technologies and aimed at ensuring economic, social and environmental sustainability. For achieving the set goal, systemic and process approaches, methods of strategic analysis, structural and logical modeling, and elements of process management were applied. The proposed algorithm for optimizing strategic processes can be adapted to the specifics of enterprises in various industries and used as a methodological basis for improving the effectiveness of strategic management in the context of digital economic transformation. Prospective directions for further research are identified, which include the development of practical methodologies for assessing the effectiveness of strategic process optimization, taking into account sustainable development criteria.
RISK ASSESSMENT METHODOLOGY IN THE PROCESS OF SUBSTANTIATING BUSINESS PROJECTS
The article explores current scientific and practical aspects of the methodology for assessing risks that arise in the process of justifying business projects. The growing level of uncertainty in the internal and external environment, the impact of global crises, the instability of financial markets, dynamic changes in legislation, climate and technological challenges necessitate the formation of effective mechanisms for identifying, analyzing and managing risks at the planning stage and making management decisions regarding projects. The risk management methodology, implemented in the project management system, allows you to increase the level of project justification, reduce the likelihood of erroneous investments and contribute to the strategic sustainability of enterprises. The work systematizes the stages of the risk management process in the context of business design: identification, qualitative and quantitative analysis, impact assessment, ranking, selection of response measures and monitoring. The features of using qualitative methods (SWOT, expert assessments, scenario analysis) in combination with quantitative methods (sensitivity analysis, Monte Carlo model, decision tree) are considered, which allows achieving a more accurate and comprehensive assessment of risk factors. Special attention is paid to the formation of a risk matrix as a tool for visualizing risk priorities on a scale of probability and impact. The feasibility of using digital tools, such as RiskyProject, @Risk, Microsoft Project, for scenario modeling, automation of assessment and visualization of analysis results is substantiated. In the process of project implementation, it is proposed to implement a systematic approach to training personnel in risk management and stimulating team interaction, which contributes to high-quality decision-making, prompt response to changes and increased adaptability of project teams. Recommendations are given for regular monitoring of risks, their review throughout the project life cycle and adaptation to environmental dynamics. The results of the study have applied significance for enterprises in various industries and can be used in the process of developing investment projects, business plans, strategic development programs and modernization of management systems.
MACROECONOMIC POLICY OF UKRAINE IN THE CONTEXT OF EUROPEAN INTEGRATION: WARTIME CHALLENGES AND STRATEGIC PRIORITIES
The article explores the transformation of Ukraine’s macroeconomic policy in the context of full-scale war, taking into account the challenges caused by Russia’s armed aggression, global economic instability, and internal structural imbalances. Key macroeconomic indicators for 2020–2024 were analyzed, including government revenues and expenditures, their structure, inflation dynamics, the state of the balance of payments, and the impact of external and internal shocks on economic stability. Key risks were identified, such as the budget’s dependence on external support, the limited fiscal space, and the difficulty of forecasting under conditions of wartime uncertainty. Special attention was devoted to the analysis of fiscal, monetary, exchange rate, and debt policies, as well as their alignment with the goals of sustainable development and the EU economic convergence criteria. The study highlights the role of the European integration trajectory as a strategic anchor for strengthening macroeconomic discipline, stimulating structural reforms, and improving regulatory efficiency. The positive experience of Central and Eastern European countries in using EU integration as a driver of long-term stabilization was summarized. The article outlines key policy measures aimed at enhancing macroeconomic resilience, including: strengthening the independence of the National Bank of Ukraine and maintaining inflation targeting in coordination with fiscal policy; the gradual phasing out of monetary financing of the budget deficit; broadening the tax base without raising rates by reducing the shadow economy; institutional strengthening of budget transparency and auditing in line with EU standards; reforming the public investment system with a focus on critical infrastructure and industrial recovery; improving conditions for exporters (logistics, risk insurance, port infrastructure development, export credit agencies); and the use of scenario-based macroeconomic modeling that accounts for various conflict evolution scenarios. The article substantiates the need to enhance the institutional capacity of macroeconomic governance in the context of post-war recovery and integration into the EU internal market.
SYNERGY OF STRATEGIC MANAGEMENT AND LEADERSHIP IN UNCERTAIN CONDITIONS
The article explores the relevance, essence and practical significance of the synergy of strategic management and leadership in uncertain conditions. The approaches of leading scientists to the role of leadership in supporting strategic initiatives are summarized. It is shown that it is the integration of strategic management with adaptive, transformational and servant leadership that ensures the sustainability and innovativeness of enterprises. A model of synergy is proposed and five significant managerial conditions for its effective implementation are formulated.
MODELING OF ACCOUNTING SUPPORT IN THE E-BUSINESS MANAGEMENT INFORMATION SYSTEM
The article considers topical issues of modeling accounting support and automated generation of indicators in e-business management information systems. Given the growing role of digital technologies in ensuring the competitiveness of enterprises, the conceptual foundations of integration of accounting and management accounting are studied, which contributes to improving the efficiency of business processes and management decision-making. The author proposes a conceptual model of accounting and analytical support based on the use of modern information technologies that provide prompt access to relevant data, their analysis and visualization for management needs. In the context of the digital transformation of the economy, the integration of accounting information systems is critical to improving the efficiency of financial management, reducing risks and ensuring the transparency of accounting processes. The developed model provides for the use of an integrated approach to data generation and processing, which includes automated collection, structuring, analysis, and presentation of information for different levels of enterprise management. It is based on the principles of an integrated approach to accounting, management and strategic accounting, which avoids duplication of information, reduces the likelihood of errors and increases the speed of data processing. The key components of this model are identified, including the data structure, information processing algorithms, mechanisms for integrating different types of accounting, and analytics tools. The data structure includes the division of information into financial, operational, and non-financial indicators, which allows for the generation of comprehensive analytical reports. Mechanisms for integrating different types of accounting include a combination of financial statements with operational and strategic indicators, which facilitates a comprehensive analysis of the company's activities and the generation of analytical information for making effective management decisions. Analytical tools include data visualization, the use of interactive dashboards, cloud solutions, and blockchain technologies to ensure transparency and security of information. The features of the relationship between accounting, management and strategic accounting in the context of digital business transformation are characterized. Particular attention is paid to the mechanisms for ensuring the sustainability of the strategic development of e-commerce enterprises by improving information systems and adapting accounting methods to the conditions of the digital economy.
CONTROL AS AN INDICATOR OF MINIMIZING INTERNAL RISKS OF BUSINESS ENTITIEST
The article reveals the substantive essence of management internal control, defines its characteristic features and purpose in the system of management of business entities. The theoretical aspects of interpretation of management internal control by various scholars are considered and the author's own definition of this category is given. Management internal control should be understood as a systematic process of assessing actual performance results, comparing them with planned (benchmark) indicators with a view to minimizing the risks of business entities' activities and taking measures to eliminate deviations. The author highlights the main features of the organization of internal control according to the COSO model and the COSO Enterprise Risk Model. The COSO model defines internal control as a process carried out by the board of directors, management and other personnel of a company designed to provide “reasonable assurance” regarding the achievement of objectives in such categories as efficiency and productivity of operations, reliability of financial reporting, and compliance with laws and regulations. Risk management is becoming an important task for business entities on the way to their overall sustainable development. Effective risk management helps business entities to minimize possible losses, optimize the use of resources and increase the efficiency of their activities even in the context of a prolonged war. The author proposes a model of methodological tools for internal management control to identify and assess the risks of business entities, which allows identifying, assessing and mitigating the risks associated with the internal processes of business entities to monitor the control environment, identifying factors that have a negative impact on the preparation of financial and management reports so that managers or owners of an enterprise receive balanced, reliable and adequate information. It is proved that risk assessment is a prerequisite for the existence of an internal control system and a key management principle that ensures the efficiency, reliability and safety of an enterprise. An integrated model of an information system for managing internal risks of business entities has been developed, which provides a comprehensive approach to identifying, assessing, monitoring and responding to risks within the internal control system of an enterprise.
DIGITAL TECHNOLOGIES AS A DRIVER OF TRANSFORMATION OF ACCOUNTING FOR ECONOMIC ACTIVITY OF ENTERPRISES
The article investigates the transformative impact of digital technologies on accounting practices within modern enterprises operating in the digital economy. It focuses on advanced tools such as cloud computing, artificial intelligence (AI), blockchain, and robotic process automation (RPA), which are revolutionizing traditional methods of recording, processing, and analyzing financial information. These technologies significantly improve the accuracy, speed, and reliability of accounting operations, enabling real-time reporting, automation of repetitive tasks, and enhanced financial decision-making capabilities. The study emphasizes the cross-sectoral implications of digital transformation, illustrating how businesses in manufacturing, retail, services, agriculture, hospitality, construction, and transportation are adopting these innovations to optimize resource allocation, stream-line financial workflows, and strengthen competitiveness. For example, AI facilitates predictive analytics in retail and service industries, while blockchain improves transparency and security in supply chains and construction project financing. In agriculture and transportation, digital solutions support cost control and asset tracking, respectively. Despite the substantial benefits, the transition to digital accounting is accompanied by numerous challenges. Key issues include heightened cybersecurity risks, data privacy concerns, and the need to develop digital competencies among accounting professionals. The author underscores the critical importance of implementing secure digital infrastructures – such as data encryption, cloud backups, and multi-factor authentication – to mitigate potential threats and safeguard sensitive financial data. Furthermore, the article advocates for comprehensive employee training and continuous professional development to ensure effective integration of new systems. Real-world case studies demonstrate successful applications of digital tools, including AI-based revenue forecasting, blockchain-enabled transaction verification, and RPA-driven accounts payable processes.
RESEARCH OF CONSUMER PROPERTIES OF BUCKWHEAT PORRIDGE AT THE CUSTOMS EXAMINATION
The aim of the article is to expand the limits of the application of physico-mathematical methods of evaluating the quality of cereals during their customs examination and to develop the possibilities of exporting buckwheat groats based on the commodity evaluation of its quality. The object of the study is buckwheat groats of different manufacturers.
ENSURING PRODUCT COMPETITIVENESS BASED ON SAFETY INDICATOR MONITORING
The modern economy is increasingly focused on improving the quality of human life, which is intrinsically linked to the safety and consumer value of food products. During cultivation, plants are known to accumulate various substances, including nitrates, nitrites, toxins, and heavy metal salts, which significantly impair their quality. Among these, heavy metal salts (e.g., Rb, Sr, Ga, Pb, Cd) pose the greatest risk due to their potential to bioaccumulate in the human body, disrupt biological processes such as metabolism and tissue protein structure, and induce mutations. Environmental degradation further exacerbates this issue by increasing the concentration of toxic substances in soil and water, subsequently affecting crops and diminishing their market competitiveness. Regular monitoring of heavy metal accumulation in plant products is therefore critical to ensuring their safety and suitability for a healthy diet, particularly those rich in biologically active substances. Pumpkin is a notable example due to its nutritional value and widespread use. This study investigated the accumulation of heavy metals in various economically significant pumpkin varieties, including Chudovyi, Zhdana, Slavuta, Stolovyi zymovyi, Khersonskyi, Khutoryanka, Marmurovyi, Arabatskyi, and Ukrainskyi mnohoplodnyi. The objective was to identify potential risks associated with heavy metal content and ensure the provision of safe, high-quality food. Atomic absorption spectroscopy, following state standard 30178-96, was used for quantitative measurements based on calibration graphs. Analysis revealed the presence of heavy metals (e.g., cadmium, lead, copper, and zinc salts) in the selected pumpkin varieties. Notably, the maximum permissible concentration (MPC) for lead salts was exceeded in the fruits of Chudovyi and Zhdana varieties. The study also identified genotypic differences influencing the accumulation of specific heavy metals, varying according to metal type and fruit variety. Regarding anatomical structure, the highest concentrations of toxic elements were found in the exocarp, while the mesocarp consistently demonstrated the lowest levels across all varieties. This pattern likely reflects the deposition of excess ions and unused metabolic ions in the exocarp. The results emphasize the need for strategies to reduce toxic substances during pumpkin processing. Effective quality management in plant-based food production is essential for minimizing toxic substance content and ensuring the delivery of safe products to consumers. Such measures will enhance the financial performance and competitiveness of agricultural enterprises, promote sustainable practices, and reduce environmental pollution, aligning with the principles of sustainable development.
IMPLEMENTATION OF INTERNATIONAL EXPERIENCE IN THE DEVELOPMENT OF WINE TOURISM IN UKRAINE
The article analyzes gastronomic tourism, particularly its wine segment, which integrates the economic, social, and cultural aspects of regional development. The experience of leading wine-producing countries—Italy, France, and Spain—alongside emerging players such as Australia, Argentina, and Chile, is examined. Key success factors for wine tourism are identified: integration of regional traditions, eco-friendly production practices, innovative technologies, development of tourist infrastructure, and the use of digital marketing tools. Wine tourism promotes brand recognition, boosts sales, and attracts tourists through the organization of tastings, guided tours, sports, and cultural activities. Special attention is paid to the role of UNESCO sites, national strategies, and a cluster-based approach in advancing the sector. The prospects for developing wine tourism in Ukraine are considered in the context of post-war recovery. The resource potential of regions such as Zakarpattia, Northern Black Sea Coast, and Odesa is analyzed. Challenges related to wartime disruptions are highlighted, but so is the adaptability of Ukrainian producers, who are introducing new formats for tourism services. Recommendations for Ukraine include developing marketing strategies that leverage digital platforms, expanding service offerings, modernizing infrastructure, implementing eco-friendly standards, and launching educational initiatives in wine tourism. Integrating wine routes with cultural and gastronomic events, along with fostering international partnerships, is crucial. The article concludes that wine tourism in Ukraine can become a driver of economic growth, enhance international competitiveness, and contribute to the promotion of Ukrainian culture and winemaking.
DEVELOPMENT OF SMALL HOTELS IN UKRAINE: PROBLEMS, PROSPECTS, ADAPTATION TO NEW REALITIES
The article discusses the problems and prospects for the development of small hotels in the current market conditions. Small hotels face a number of challenges, but at the same time have significant potential for growth and development. Problems related to competition, financing and service quality management require constant attention and innovative approaches to solving. Effective development strategies include optimizing a hotel's website for search engines, being active on social media, and using online booking through popular travel sites. In addition, it is important to emphasize the unique features and benefits of the hotel, such as personalized service, special atmosphere, or exclusive services. It has been established that the uniqueness and personalization of services are key success factors for small hotels. They allow you to stand out from the competition by creating a unique experience for guests who value individual approach and authenticity. Adapting to market conditions and responding flexibly to changes in customer demand and preferences determine the sustainability and competitiveness of small hotels. Collaboration with local communities and businesses allows to expand the offer for guests, integrating the hotel into the cultural and economic life of the region, which not only promotes local tourism but also strengthens the hotel's position in the market. Sustainability and environmental responsibility are becoming increasingly important as modern consumers pay attention to the environmental aspects of their vacation destinations. The ability of small hotels to quickly adapt to changes in the market, attention to detail in service delivery, and focus on creating a unique experience for each guest can be crucial factors for success in the hospitality industry. Small hotel businesses have significant potential for growth, which can be realized with a creative approach to management, marketing and customer service. Understanding the needs and preferences of modern travelers, as well as focusing on sustainability and integration with the local community, can be key success factors for small hotels in an ever-changing market environment.
DEVELOPMENT OF ECOLOGICAL PRODUCTION AND ECO-BRANDING IN MODERN CONDITIONS
The article investigates the ecologization of agricultural production. It underlines the production of ecological products to be an innovative trend in the development of all economic entities in the agricultural sector. The process of transitioning agricultural enterprises to environmental management principles is highlighted. It includes a transition period, production certification, development of an environmentally-oriented marketing complex for the sale of eco-products, and economic stimulation of eco-production by the state. It is highlighted that the ecologization of agricultural production is embodied in organic production. The indicators of the development of organic production in the country and the structure of its domestic market of organic products are characterized. It is noted that organic production in Ukraine, although export-oriented, nevertheless there is a positive trend in the total volume of sales of organic products on the domestic market of Ukraine. Channels for selling environmentally-oriented products in Ukraine are revealed. They are supermarkets and specialized networks of healthy food stores that are well-developed, as well as online stores and stores at eco-farms that are under development. The importance of applying effective marketing approaches to the promotion of organic products is described, and the activity of introducing the latest tools and techniques of Marketing Communications, the use of which brings positive expected results in the functioning of agricultural enterprises is indicated. It is substantiated that agricultural producers need marketing support in the process of economic activity through studying the state of development of the organic sector and the market of organic products, improving its quality, managing sales channels, marketing tools for product promotion, where branding takes a central place. Ecological branding to promote organic products is considered, and the most recognizable environmental brands of Ukraine, which are leaders in sales and have a significant impact on the organic market, are highlighted. The development of eco-branding in domestic agricultural enterprises was indicated to be possible through the implementation of brand management.
FORMATION OF A CUSTOMER-ORIENTED DEVELOPMENT STRATEGY FOR ORGANIC OPERATORS
The study analysed various scientific approaches to the problem of forming a customer-oriented strategy for enterprise development. Thus, the study has identified several key approaches that contribute to the creation of an effective customer orientation strategy. The stages of formation of a customer-oriented development strategy for operators in the organic market. The main components of the customer-oriented development strategy of operators in the organic market are identified in terms of key aspects: development and innovation in the product range; introduction of effective marketing communication; improvement of service quality; development of partnerships.
ON THE ORGANISATIONAL AND ECONOMIC MECHANISM OF GOVERNMENT SUPPORT FOR THE DEVELOPMENT OF UKRAIN‘S AGRO-INDUSTRIAL COMPLEX
With Russia's full-scale war against Ukraine, government support for the agricultural sector is critical and economically viable for the survival of agricultural enterprises. It is also vital for ensuring internal and external food security. An organisational and economic system of government support consists of forms, elements, and economic instruments. An effective combination of all the components of the system allows to support the development of the Ukrainian agricultural sector. The article systematises information on state policy measures and financial instruments aimed at supporting the agro-industrial complex. Effective instruments include budget subsidies, grants, compensation programmes, tax breaks, loans, and portfolio guarantees. As of 2024, the government has implemented a set of government measures to support agribusiness. These measures partially contribute to the stabilisation and recovery of the agro-industrial sector, which was affected by the war. The government's programmes include financial assistance for small businesses and farmers, compensation for land demining, restoration of land reclamation systems, purchase of agricultural machinery, loan guarantees to reduce collateral, government grants for the development of gardens and greenhouses, starting a business, including for veterans, and tax benefits for businesses whose land is located in the war zone. Current government programmes still do not address a number of agricultural problems that have been exacerbated by the war, including: lack of human resources, including a shortage of men; expansion of logistics, selection of alternative supply chains for agricultural products; accelerating the demining of agricultural land; restoration of soil fertility by developing the production of biologicals, microbiological and bacterial preparations that activate the reserves of nutrients necessary to increase fertility; development of organic production and approximation to sustainable development; development of bioenergy by converting part of the harvest into gas; development of the agricultural processing industry; diversification of products, reorientation to more profitable crops: growing cotton, flax, soybeans, legumes, walnuts, garlic, etc, support for Ukrainian farmers through the introduction of targeted grant programmes aimed at restoring livestock and reconstructing livestock farms; expanding the terms of leasing and credit programmes aimed at purchasing domestic agricultural machinery; attracting investors to develop agriculture, including the purchase of new machinery and infrastructure; adaptation of the national agri-food policy to the provisions of the EU's Common Agricultural Policy and harmonisation of the national legislation in this area with the EU requirements.
ASSESSMENT OF THE COUNTRY'S INVESTMENT CLIMATE AS A PREREQUISITE FOR PLANNING AND PROJECT ACTIVITIES OF BUSINESS
An assessment of the investment climate of any country is a prerequisite for determining the feasibility of business investment. The results of the investment climate study reflect not only the current state, but also the directions of its prospective changes. This is important for sound planning of future activities, development and selection of investment projects. The following arguments can be made in favor of this: the indicators calculated by international organizations are comprehensive, taking into account both individual aspects of the investment climate and their interrelationships; the parameters and indicators of the assessment have a clear meaning; research results allow comparing the state and certain aspects of the investment climate in a particular country; information on investment climate parameters is available and can be used by all business entities regardless of their size. The study of the main economic processes and the state of the environment that characterize the investment climate is based on statistical information and assessments of domestic business and foreign experts. This contributes to a more objective assessment. Ukraine's investment climate has been on the downward slope for the last few years, as confirmed by business and the international community. This situation is caused by military operations and related economic devastation, as well as imperfect state institutions. Despite the difficult situation, there are optimistic expectations of positive changes in the investment climate. Certain steps in this direction have been taken by the approved amendments to Ukrainian legislation, designed to create favorable conditions for attracting a wide range of foreign and domestic investors for the implementation of large investment projects at the national and regional levels. The government also continues to provide budget support to attract investment in the real sector of the economy, increase non-primary exports, and further develop domestic production and consumption. With the support of the government, businesses intend to invest not only in the reconstruction but also in the development of the Ukrainian economy.
PREREQUISITES FOR THE IMPLEMENTATION OF THE ESG-STRATEGY AGRICULTURAL ENTERPRISES
ESG values have transformed into strategic priorities for companies striving to adhere to the principles of Sustainable Development and aiming to be responsible, resilient, and progressive. This transformation is especially critical for agribusinesses in Ukraine, which face numerous challenges due to ongoing military aggression and must ensure their survival and sustainability. It is imperative to replace conservative management models and outdated agricultural technologies with modern approaches. A management framework based on three primary components ‒ environmental (E), social (S), and corporate governance (G) ‒ is essential for addressing contemporary challenges. It has been established that the key prerequisites for implementing ESG strategies in agribusiness include global trends in Sustainable Development and domestic Ukrainian factors such as economic, political-legal, social, ecological, scientific-technical, and cultural conditions. The necessity of implementing ESG strategies stems from the economic benefits they provide to agribusinesses, including increased competitiveness and access to investments and financing. Compliance with international standards through ESG strategies enhances trust among foreign partners and investors, thereby strengthening the global market position of Ukrainian agribusinesses. The adoption of ESG strategies is also driven by the need to adapt to climate change and mitigate its impact on agriculture, alongside a heightened responsibility for resource usage and environmental impacts. The challenges posed by military aggression have acted as a catalyst for socially-oriented initiatives within ESG strategies, helping agribusinesses support local communities, maintain social stability, and build trust among the population. Additionally, the growing consumer demand for eco-friendliness necessitates enhanced social responsibility from Ukrainian agribusinesses. A proposed step-by-step ESG strategy plan aims to enhance post-war recovery and growth, focusing on innovation to boost production efficiency and reduce environmental harm. Integrating ESG practices can minimize risks, improve adaptability, and ensure sustainable development during Ukraine’s recovery.