The Essence and Main Differences of Consumer Societies from Credit Consumer Cooperatives in the Light of Attracting Citizens' Funds

2021 ◽  
pp. 51-55
Author(s):  
O. Yudina
Keyword(s):  
Financial Literacy ◽  
Consumer Credit ◽  
Consumer Society ◽  
Household Finances ◽  
Foreign Companies ◽  
Advantages And Disadvantages ◽  
Cooperative Tasks ◽  
Credit Cooperatives ◽  
Main Regulator ◽  
Xix Century

The article is devoted to the comparative analysis of the essence of consumer and credit cooperatives in the context of attracting citizens' funds, the transformation of their economic processes and functions in the genesis of microeconomic development. The research is based on the analysis of historical documents and Russian publications, as well as on statistical conclusions of economic data. The aim of the study was to study the evolution of consumer societies and credit cooperatives as instruments for attracting household finances on the example of Russian and foreign companies since the middle of the XIX century. Semantic definitions of the categories consumer society and consumer credit cooperative, tasks and historical stages of the development of the studied communication tools in the field of attracting the means of the population are determined. The author's experience of comparative characteristics of the analyzed economic entities is proposed, reflecting the risks, advantages and disadvantages of the studied communication objects. The functions of the Bank of Russia as the main regulator of consumer credit cooperatives are disclosed. The final results of the study substantiate the importance of financial literacy and present an algorithm that allows the population to distinguish the legal activities of consumer credit cooperatives from fraudsters.

scholarly journals Credit counseling: a substitute for consumer financial literacy?

2015 ◽  
Vol 14 (4) ◽  
pp. 466-491 ◽  
Author(s):  
RICHARD DISNEY ◽  
JOHN GATHERGOOD ◽  
JÖRG WEBER
Keyword(s):  
Financial Literacy ◽  
Consumer Credit ◽  
Safety Net ◽  
Financial Situation ◽  
Financial Advice ◽  
Credit Counseling

AbstractIs financial literacy a substitute or complement for financial advice? We analyze the decision by consumers to seek financial advice in the form of credit counseling. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. Our analysis accounts for the endogeneity of an individual's financial situation to financial literacy, and the endogeneity of financial literacy to exposure to credit counseling. Results show counseling substitutes for financial literacy. Individuals with better literacy are 60% less likely to use credit counseling. These results suggest that credit counseling provides a safety net for poor financial literacy.

scholarly journals Management of organizational culture in the conditions of enterprises digitalization

Upravlenie ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 33-38 ◽  
Author(s):  
I. V. Groshev ◽  
A. V. Zheregelya ◽  
D. V. Shkolnyi
Keyword(s):  
Organizational Culture ◽  
Synergetic Effect ◽  
Digital Environment ◽  
Human Communication ◽  
Vital Activity ◽  
Foreign Companies ◽  
Advantages And Disadvantages ◽  
Information Products ◽  
Domestic Practice ◽  
The One

Global digitalization processes are transcontinental and trans-industry in nature. There is no sphere vital activity, that does not feel the influence of digital institutions. Economic activity of agents is most sensitive to digital innovations and market shifts.The process of integrating digital innovations into the activities of large foreign companies, based on the study of foreign sources, has been considered. The dignities, advantages and disadvantages of this practice have been adduced. The consequences of the ill-conceived unbalanced policies of companies in the context of following fashion trends, happening in the digital environment, have been analyzed separately. The conclusion about the need to customize Russian companies to the modern requirements of the global digital market has been made. It is noted, that the domestic practice lags behind not so much in the mechanism of implementation of modern digital practices, but in the efficiency of their use and qualitative growth of the organizational structure due to the synergetic effect of digitalization of production and all related procedures and processes.The authors have concluded, that the management of a modern company should be based on the interaction of all stakeholders, and not due to the dominance of processes and hierarchy, which in turn, will require changes in the management of organizational culture. At the center of this interaction there are digital social tools, the useful functions of which are obvious, on the one hand, determining the dynamics of interaction (openness, sincerity, human communication), on the other - expanding the area of awareness of participants in the interaction. Herewith it has been noted, that the use of modern information products is necessary in a certain balance with standard offline work tools.

scholarly journals Prospects for cooperation between the financial corporation and companies, working in the field of digital technologies

Upravlenie ◽  
2019 ◽  
Vol 7 (2) ◽  
pp. 57-64 ◽  
Author(s):  
V. S. Efremov ◽  
A. S. Pilishvili
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Business Processes ◽  
Rapid Development ◽  
Digital Technologies ◽  
Open Architecture ◽  
Financial Industry ◽  
Digital Products ◽  
Advantages And Disadvantages ◽  
Main Regulator

The problems, associated with the development of new digital technologies, which, in turn, have an impact on the activities of large financial institutions of the Russian Federation, have been examined in the article. The aim of the study is to analyze the current situation in the economy, related to the growth of the market for digital products, their integration into the existing model of providing financial services to clients, as well as finding solutions to the joint activities of financial corporations and financial and technological companies. The definitions and main activities of financial corporations and fintech startups have been given in the article. The advantages and disadvantages of a large financial corporation and developing companies, operating in the field of digital technologies, as well as the positive results of combining their resources, have been highlighted. Positive examples of world experience in cooperation between the two types of these organizations and the attitude of the main regulator of the Central Bank of Russia to the development and implementation of financial technologies in the country’s economy have been adduced.The problems and opportunities of high competition in the struggle for the modern consumer, which lead to the rapid development of the entire financial industry market, have been analyzed. The results of the study have showed, that every day, worldwide, fintech companies test a significant number of digital products, various open architecture tools, methods of transferring information through blockchain technologies, and optimize and integrate into the existing systems new client base programs, that completely change the main business processes of large enterprises and have a significant impact on the main consumer - a person. This indicates the need for further research aimed at studying and analyzing the integration of financial corporations with technology companies, changing the existing business model, finding new approaches to the modern consumer and creating a new organization development strategy in the digital economy of the country.

scholarly journals A System to Support the Transparency of Consumer Credit Offers

2020 ◽  
Vol 13 (12) ◽  
pp. 317
Author(s):  
Bożena Frączek
Keyword(s):  
Financial Markets ◽  
Interest Rates ◽  
Financial Literacy ◽  
Consumer Credit ◽  
Calculation Methods ◽  
Financial Decisions ◽  
Low Level ◽  
Lack Of Information ◽  
Responsible Lending ◽  
Human Thinking

The development of financial markets and the low level of financial literacy does not facilitate consumer protection. A significant problem is the lack of information or unclear information regarding financial offers, including consumer credit. Financial protection for consumers can be increased by using systems that support consumers faced with a lack of transparency of consumer credit offers. The theoretical objective of the research is to identify the completeness of information allowing for verifying the annual percentage rate (APR) in the consumer credit offers presented and compared on websites of financial intermediaries and banks as well as the identify of APR calculation methods. After analysis of different credit offers (document analysis), a prototype of the system regarding credit costs measured at the appropriate interest rates (APR and AER) calculated in the correct manner was created. This may facilitate practices for informing consumers about the characteristics of consumer credit and at the same time support the implementation of the concept of responsible lending. The system developed uses a computer to simulate human thinking and to augment it with artificial intelligence. It facilitates the elimination the behavioral biases during the taking of financial decisions, which are the result of a low level of financial literacy.

scholarly journals Motivating component in the remote form of employment of the staff

2020 ◽  
pp. 93-100
Author(s):  
V. Kryvosheieva ◽  
L. Vasyurenko
Keyword(s):  
Social Relations ◽  
Labor Relations ◽  
Personal Communication ◽  
Remote Work ◽  
Foreign Companies ◽  
Advantages And Disadvantages ◽  
Remote Employees ◽  
The Right ◽  
Transport Problems ◽  
Social Labor

Conditions of innovative development of economy make significant changes in the system of social – labor relations, their new forms appear, which accompany the transition of social – labor relations from collectively – contractual to more individual and socially vulnerable. In this regard, new challenges are emerging for the whole system of regulation of social and labor relations. The most significant form of manifestation of changes in this area of ​​social relations is remote social – labor relations, which focus on providing the ability to perform work responsibilities without being in the workplace due to modern technologies. Compared to our country, telework is well developed in foreign countries. Foreign companies have already experienced the benefits of remote employment: saving time to get to work, solving transport problems, reducing environmental tensions, reducing unemployment, increasing time for family communication and leisure. The concept of remote employment, the main problems of this form of employment and ways of their solution, practical application of it in modern organizations, all advantages and disadvantages of working in a remote format are analyzed. The prospect of further spread of remote employment in the country, methods of motivation of workers working remotely were evaluated. The peculiarities of personnel management with regard to remote employment in organizations were identified and a strategy for remote employment management was proposed, which would allow to understand the problems related to remote work, which management needed to solve: finding the right balance between work and personal life, overcoming isolation at work in place, compensation for lack of personal communication and compensation for lack of employee visibility. Ways to increase the efficiency of work of remote employees, motivate them to work, as well as increase their level of adaptation in the company and involvement in the workforce. Key words: motivation, control, personnel, remote work, flexible work, flexible schedule, remote work, innovation.

scholarly journals Social, Economic, and Sociocultural Aspects of Innovative Approach to Management and Motivation of Personnel

2019 ◽  
Vol 3 (1) ◽  
pp. 42-48
Author(s):  
Галина Билюченко ◽  
Galina Biljuchenko ◽  
Владимир Золотухин ◽  
Vladimir Zolotukhin
Keyword(s):  
Comparative Analysis ◽  
Social Economic ◽  
Economic Behavior ◽  
Main Attention ◽  
Organization Management ◽  
Modern Management ◽  
Foreign Companies ◽  
Sociocultural Environment ◽  
Advantages And Disadvantages ◽  
Effective Organization

The paper features social, economic, and sociocultural aspects of innovative processes in management of various organizations. The research involved a comparative analysis of the main parameters of modern management methods and their advantages and disadvantages. The authors formulated some management solutions of several large organizations. The research features modern methods of organization management and the effect of the sociocultural environment on various methods of labor motivation. The main attention is given to the transformation of various fields of activity connected with use of digital technologies since there is a change of valuable stereotypes and various criteria of economic behavior. The research studied modern management conditions and revealed the best practices of effective organization management. The authors employed a system and comparative analysis, the causative-consecutive analysis, and such methods as observation, comparison, grouping, and scientific induction and deduction. The research featured small, medium, and large businesses at all stages of their development to create an effective model of human resource management. Thus, the most successful domestic and foreign companies apply non-standard, innovative approaches to management and motivation of personnel, which allows them to develop more effectively in comparison with those organizations which apply standard approaches to personnel management and motivation.

scholarly journals Peningkatan Literasi Keuangan melalui Inovasi Si Apik bagi UMK Desa Tanjung Raya Kabupaten Lahat

2020 ◽  
Vol 4 (1) ◽  
pp. 117
Author(s):  
Yuliani Yuliani ◽  
Rasyid Hs Umrie ◽  
Samadi W Bakar
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
General Public ◽  
Financial Knowledge ◽  
Small Enterprises ◽  
Financial Reports ◽  
Household Finances ◽  
Technology Innovations ◽  
Micro And Small Enterprises

ABSTRACTFinancial literacy is one of the keys to success for an entrepreneur. The classic problems that arise in Micro and Small Enterprises (MSEs) are the lack and difficulty of accessing capital in financial institutions, obstacles in preparing and recording financial reports, keeping the business growing and developing. This service aims to provide financial knowledge about increasing financial literacy and assisting people who have MSEs to conduct financial records and produce financial reports. This activities was implemented at Village Head’s Office of Suka Merindu, Lahat Regency. The method of delivering material through counseling in the form of education about saving, investment, insurance. The activity continued with assistance in making financial reports with the Android Si Apik technology innovations issued by Bank Indonesia. The number of target audiences is 40 MSEs. The results of this activities is MSEs know the types of savings, investment and the importance of insurance protection. MSEs experienced difficulties when using Si Apik because the recording of single bookkeeping was not yet owned. This activity is expected by the general public and MSEs to be able to manage household finances and business so that financial prosperity is achieved in the future. ABSTRAKLiterasi keuangan merupakan salah satu kunci keberhasilan bagi seorang entrepreneur. Permasalahan klasik yang muncul pada Usaha Mikro dan Kecil (UMK) adalah kurangnya dan kesulitan mengakses modal pada lembaga keuangan, hambatan dalam menyusun dan mencatat laporan keuangan, promosi penjualan dan menjaga agar usaha terus tumbuh dan berkembang. Pengabdian ini bertujuan untuk memberikan pengetahuan keuangan tentang literasi keuangan dan mendampingi masyarakat yang memiliki UMK dalam melakukan pencatatan keuangan hingga menghasilkan laporan keuangan. Kegiatan ini dilaksanakan di Kantor Kepala Desa Suka Merindu Kabupaten Lahat. Metode penyampaian materi melalui penyuluhan berupa edukasi tentang menabung, investasi, asuransi. Kegiatan dilanjutkan dengan pendampingan membuat laporan keuangan dengan metode inovasi Si Apik berbasis Android yang dikeluarkan oleh  Bank Indonesia. Jumlah khalayak sasaran adalah 40 UMK. Hasil kegiatan ini adalah UMK mengetahui jenis tabungan, investasi dan pentingnya perlindungan asuransi. UMK mangalami kesulitan saat menggunakan Si Apik karena pencatatan pembukuan tunggal belum dimiliki.  Kegiatan ini diharapkan masyarakat pada umumnya dan UMK mampu mengelola keuangan rumah tangga dan usahanya sehingga tercapai kesejahteraan dalam keuangan di masa mendatang.

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