scholarly journals Information Management: the Key Driver of the Economic System’s Development

2019 ◽  
pp. 297-307 ◽  
Author(s):  
Robert Bacho ◽  
Rishard Pukala ◽  
Serhii Hlibko ◽  
Nataliya Vnukova ◽  
Peter Pola
Keyword(s):  
Information Management ◽  
Business Processes ◽  
Vector Autoregression ◽  
The State ◽  
Insurance Market ◽  
Regulatory Body ◽  
Distribution Law ◽  
Determination Coefficient ◽  
Key Driver ◽  
Granger Test

In the scientific article, an information management model was developed for assessing the influence of regulatory tools on business processes on the example of the insurance market of Ukraine. The main purpose of the research is to determine the role of information management as a key driver of business process development in economic systems (on the example of the Ukrainian insurance market). Systematization literary sources and approaches for solving the problem indicates that the development of innovative tools of public governance for the assessment of the regulatory influence of the state regulatory body on the business processes of insurance market is not completed and requires a more in-depth study. The formation of a system of indicators characterizing the business processes of insurance market, which take into account the influence of the Regulator's tools, is proposed to be implemented in the following sequence: to find out the causal links between the indicators of business processes of insurance market and the measures; to determine the existence of the reaction of business processes’ indicators of insurance market to the Regulator’s measures, taking into account the time gap, which determines the presence of lags in the process of applying the Regulator's measures; to define and formalize the variability of the business processes’ indicators of insurance market under the influence of the Regulator's measures. Then the scale of the state of insurance market was built: firstly, check for normality the distribution of the indicators’ values of these markets; secondly, in compliance with the distribution law to construct the scale of indicators according to the «three-sigma rule»; thirdly, in the case of nonconformance with the normal distribution law and presence of skewness, the method of «three sigma» may be used, but either the arithmetic mean, or the mode of the variation series, or its median, is taken as the reference point. The relevance of the decision of this scientific problem is that a set of models is developed for establishing causal relationships between the indicators characterizing the business processes of the insurance market and government regulation instruments, which are quantitatively determined, are theoretical and practical basis for their possible application for solving universal modeling problems of causal processes of estimating the influence of the taken decisions at any regulation of business processes. To solve the problem the Granger-test, the expanded Dickey-Fuller test, the Phillips-Perron test and the Kwiatkowski-Phillips-Schmidt-Shin test were applied. Time series distribution on stationarity and construction of vector autoregression models are implemented. In order to evaluate the adequacy of the models, a comparison of values of Fisher's, Student's criteria, determination coefficient and adjusted determination coefficient is used. Jarque-Bera criteria are used to test the model for stationarity, stability. The formalization of cause-and-effect relationships through the postulate of the theory of measurements and the construction of scales is performed. The built interval scales are based on the application of the three sigma rule, which made possible to specify the allowable boundary values of the indicators. The obtained results testify the influence of regulatory tools on the business processes of insurance market, which confirms the correctness of the use of this complex of models for the solution of weakly formalized problems of causal nature of universal type. The proposed innovative model can be used as a methodology for developing a set of rational methods for assessing informational influences of management decisions in production systems or marketing research. The results of the research can be used to evaluate the business processes of any market or system. Keywords: business processes, Granger test, informational management, informational model, insurance key driver, services market, regulation tools, scaling, vector autoregression.

Mathematical models forecasting the transformation of the tax path of large russian companies

2019 ◽  
Vol 5 (3) ◽  
pp. 193-203
Author(s):  
Kristina A. Bannova ◽  
Nurken E. Aktaev ◽  
Yulia G. Tyurina
Keyword(s):  
Information And Communication Technologies ◽  
Business Processes ◽  
Digital Economy ◽  
The State ◽  
Russian Society ◽  
Financial Flows ◽  
Business Entities ◽  
Object Of Study ◽  
Tax Changes ◽  
The Impact

Digital technologies have changed the relationship between the society and business entities, taxpayers and the state. Ceteris paribus, the ability to effectively manage financial flows and make administrative decisions depends on the correct and established interaction between the state and taxpayers. This study aims to form and develop a taxpayer’s understanding of the digital age with all its features and opportunities for information and communication technologies, including mathematical modeling methods that form the basis of the digital economy for building and sustaining business development, improving the systemic vision of business processes. The research hypothesis is that the further development of economic entities management in the digital context, as well as the coordination of these entities’ interests, is possible only in the partnership of the key economic participants, with the taxpayer at the forefront. That will allow identifying the areas for improving tax trajectories. Using polynomial approximation, the authors have obtained the models of tax trajectories of companies that allow predicting tax burden. The data for approximations are obtained using the previously constructed mathematical model of the optimal tax path. The main input data of the model are fixed assets and human resources, the totality of which form the production function. The analysis of the transformation of tax paths shows ways for achieving a balance of interests between both the state and the taxpayers. Finding this balance will help to overcome the crisis of confidence in the authorities, the development of adaptability and creativity of Russian society to new tax changes. A number of parameters determines the scale of this task. They include the complexity of the object of study, the long-term and multi-aspect nature of the impact which modeling the digital economy has on adaptation to the new digital realities of the state and taxpayers, as well as the absence of significant analogues of the solution to this problem in global and Russian economics.

scholarly journals ПІДВИЩЕННЯ КОНКУРЕНТНОЇ СТІЙКОСТІ СІЛЬСЬКОГОСПОДАРСЬКИХ ПІДПРИЄМСТВШЛЯХОМ ЇХ ДИВЕРСИФІКАЦІЇ

2014 ◽  
pp. 106-110
Author(s):  
Т. М. Лозинська ◽  
О. В. Чаговець
Keyword(s):  
Business Processes ◽  
Three Dimensional ◽  
The State ◽  
Causal Relationships ◽  
Agricultural Market ◽  
Morphological Classification ◽  
Agricultural Enterprises

Обґрунтовано актуальність здійснення аналізуготовності сільськогосподарських підприємств додиверсифікації з метою підвищення їх конкурентноїстійкості. Виявлено тенденції розвитку сільськогос-подарського ринку та встановлено спонукальні при-чини диверсифікації сільськогосподарських підпри-ємств. Наведено результати застосування методутривимірної морфологічної класифікації щодо вияв-лення стану готовності підприємств до диверсифі-кації. Охарактеризовано зміст причинно-наслідковихзв’язків, що виникають унаслідок поєднання госпо-дарських процесів із різними параметрами. Зверта-ється увага на суб’єктність сільськогосподарськихпідприємств у процесі диверсифікації. The topicality of the analysis of readiness to diversify agricultural enterprises has been grounded to improve their competitive sustainability. Tendencies of development of agricultural market have been explored and motives for diversification of agricultural enterprises have been established. The results of applying the method of three-dimensional morphological classification have been showed to identify the state of readiness of enterprises to diversify. The content of causal relationships resulting from the combination of business processes with different parameters has been characterized. Attention is paid to the subjectivity of the agricultural enterprises in the process of diversification.

scholarly journals Factors influencing and dynamics of the agricultural insurance market

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 42-49
Author(s):  
Nataliya Tanklevska ◽  
Vitalina Yarmolenko
Keyword(s):  
Crop Production ◽  
Agricultural Sector ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Agricultural Insurance ◽  
Agricultural Producers ◽  
Agricultural Enterprises ◽  
Insurance Sector ◽  
Factors Influencing

The article is aimed at identifying modern features of insurance in the agricultural sector of the Ukrainian economy and defining the factors of influence on the agricultural insurance market. The article discloses interpretation of the terms of «insurance» and «agricultural insurance» and also presents the types of possible risks arising in the activities of agricultural enterprises. The performance indicators of leading insurance companies in the field of agricultural insurance are analyzed. The current state and dynamics of insurance of agricultural risks, which arise both in the field of crop production and in livestock, are researched. This will allow predicting the future prospects of the market for insurance services and products, as well as finding possible optimal ways to solve the problems of product insurance, faced by the agricultural producers. The main factors influencing the efficiency of the insurance market in the agricultural insurance sector are allocated. The basic principles of insurance of agricultural products with the State support are analyzed. It is defined that the further development of agricultural insurance should be directed towards creating a profitable and safe environment for all participants in the agricultural market, which provides for the distribution of risks between agricultural producers, processing enterprises, banks, insurance companies and the State. The agricultural insurance of risks creates possibilities for advantageous harmonizing the interests of participants in the agricultural insurance market and the State as a party whose first priority is to ensure stable economic growth.

scholarly journals INNOVATIVE MANAGEMENT STRATEGIES BY ACTIVITIES OF INSURANCE COMPANIES: INTERNATIONAL AND NATIONAL CONTEXT

2021 ◽  
pp. 65-70
Author(s):  
Vilenchuk O.
Keyword(s):  
Business Processes ◽  
Insurance Coverage ◽  
Management Strategies ◽  
Insurance Market ◽  
Insurance Companies ◽  
Insurance Company ◽  
Investment Activity ◽  
Innovative Strategies ◽  
Innovative Management

This review article is devoted to the study of innovative strategies for managing the activities of insurance companies. In the condi-tions of risky environment, rather high probability occurrence of threats of natural and technogenic character, problems concerning the necessity of a scientific substantiation of the process of the insurance market stakeholders’ interaction aggravate. It is established that insurance in the world economic space is an indispensable financial and economic tool for neutralizing a variety of risks, especially given today’s the socio-economic, financial, epidemiological dangers. It is proved that despite the key parameters’ positive dynamics of the Ukrainian insurance market development for 2009-2019, there is a need to intensify business and investment activity of its participants. The competitive environment of the insurance market requires insurance companies to implement innovative management strategies focused primarily on solving two interrelated problems: firstly, the expansion of property risks’ insurance coverage, as well as risks related to citizens’ life, health and ability to work, secondly, the formation of the insurers’ solvency and ensuring an acceptable level of insurance operations’ profitability in terms of certain types of insurance. It is determined that one of the primary tasks of the insurance company’s management is the management of its business processes aimed at forming a model of customer-oriented behaviour in relation to potential customers. The article emphasizes the need to use a variety of innovative management strategies to achieve medium-term and long-term goals of the company in the insurance market. In particular, the expediency of diversification and the use of alternative pricing strategies for insurance services for long-term and general types of insurance is argued. Proposals aimed at digitalization of the insurance market and wide application of FinTech technologies in the field of insurance services are formulated: automated underwriting, IOT-technologies; blockchain in insurance. Summarizing the results of the study, the author’s vision of the further insurance relations’ functioning of in society is specified. Keywords: risks, insurance company, insurers, insurance protection, insurance market stakeholders, management. Статтю присвячено дослідженню інноваційних стратегій управління діяльністю страхових компаній. В умовах ризикогенного середовища, досить високої ймовірності виникнення загроз природного та техногенного характеру загострюються проблеми щодо необхідності наукового обґрунтування процесу взаємодії стейкхолдерів страхового ринку. Аргументовано, що страхування у світовому економічному просторі є незамінним фінансово-економічним інструментом нейтралізації найрізноманітніших ризиків, особливо зважаючи на соціально-економічні, фінансові та епідеміологічні небезпеки сучасності. Визначено, що одним із першочергових завдань менеджменту страхової компанії є управління її бізнес-процесами, спрямованими на формування мо-делі клієнтоорієнтованості відносно потенційних клієнтів. Наголошено на необхідності використання різноманітних інноваційних стратегій управління для досягнення середньострокових та довгострокових цілей компанії на страховому ринку. Зокрема, аргу-ментовано доцільність здійснення диверсифікації та використання альтернативних стратегій ціноутворення на страхові послуги з довгострокових та загальних видів страхування. Сформульовано пропозиції, спрямовані на цифровізацію страхового ринку та широке застосування FinTech-технологій у сфері страхових послуг: автоматизований андерайтинг, ІОТ-технології; блокчейн у страхуванні. Узагальнюючи результати проведеного дослідження, конкретизовано авторські підходи до подальшого функціонування страхових відносин у суспільстві.Ключові слова: ризики, страхова компанія, страхувальники, страховий захист, стейкхолдери страхового ринку, управління.

Tools of state regulation of the agricultural insurance market

Ekonomika APK ◽  
2021 ◽  
Vol 321 (7) ◽  
pp. 95-102
Author(s):  
Iryna Artimonova ◽  
Kateryna Tkachenko
Keyword(s):  
Research Methods ◽  
Agricultural Sector ◽  
Practical Experience ◽  
State Regulation ◽  
The State ◽  
Insurance Market ◽  
Practical Significance ◽  
State Support ◽  
Agricultural Insurance ◽  
Agricultural Producers

The purpose of the article is to develop practical recommendations for improving the tools of state regulation of the agricultural insurance market. Research methods. The research was based on general scientific research methods, scientific works of domestic and foreign economists on insurance in the agricultural sector of the economy, regulations and Internet resources. The application of the method of comparison, the monographic method in combination with the method of induction made it possible to systematize and generalize the foreign experience of state support for agricultural producers. Research results. The reasons for the need to improve the system of state regulation of the agricultural insurance market are systematized. The international practical experience of formation of systems of the state support of agricultural insurance is generalized. The normative-legal acts regulating relations in the field of insurance of agricultural products are considered. Emphasis is placed on existing programs to protect agricultural producers from the risks posed by the state. An assessment of the current state of the agricultural insurance market in Ukraine and identified prospects for its development using the tools of state regulation. Scientific novelty. It is proved that agricultural insurance is a new effective tool for state support of farmers in case of risks, which will help improve the economic performance of the agricultural sector of Ukraine. Practical significance. Measures to improve the instruments of state regulation of the agricultural insurance market are proposed. The introduction of state support for agricultural insurance will contribute to the growth of the domestic market of agricultural insurance, which will provide additional revenues to the state budget. Refs.: 13.

DRIVERS OF ECONOMIC GROWTH UNDER THE CONDITIONS OF THE CORONOVIRUS PANDEMIC

2021 ◽  
Vol 20 (1) ◽  
pp. 24-33
Author(s):  
Igor A. Prudnikov ◽  
A. M. Rotary
Keyword(s):  
Economic Growth ◽  
Health Care ◽  
Health Care System ◽  
Business Processes ◽  
Consumer Preferences ◽  
The State ◽  
Global Changes ◽  
Customer Base ◽  
The World ◽  
Almost All

The events that took place in 2020 in terms of the epidemiological component in the world entailed global changes in almost all sectors of the economy. The state in which the whole world is today, as well as business, receives new requirements for the health care system, education, economy, law, transport and so on. Today it has become clear that the usual business processes have changed and will no longer be the same, moreover, they will change faster than before. Companies have become even more closely monitoring modern trends and began to adapt to current consumer preferences, thus they will be able not only to maintain their position in the market, but also to increase their customer base.

Business Innovation and Information Management

2011 ◽  
pp. 356-391
Author(s):  
Eng K. Chew ◽  
Petter Gottschalk
Keyword(s):  
Information Management ◽  
Low Cost ◽  
Global Business ◽  
Business Innovation ◽  
Customer Expectations ◽  
Business Executives ◽  
Regulatory Changes ◽  
Technological Advances ◽  
The Status ◽  
Key Driver

The Global CEO Survey by IBM (2006) shows that two thirds of the CEOs anticipate significant change to their companies over the next two years. The inevitable change is attributed to changing market forces caused by intensifying competition and increasing customer expectations, which are further compounded by globalization, technological advances, regulatory changes, and workforce changes. The CEOs see innovation as the only way to survive and thrive in this rapidly changing industry landscape. Firms can no longer be satisfied with their current market performance, however superior they may be. They must constantly challenge the status quo and reinvent themselves to stay ahead of the curve to avoid being made obsolete by the competition. The 2005 McKensey Survey of Global Business Executives (Marwaha, Seth, & Tanner, 2005) also “identifies the increasing pace of technological innovation, the growing affluence of emerging economies and the low-cost offshore manufacturing (and now services) as the most important trends of global business.” Both the business and technology executives see innovation as the number one driver for growth. The Gartner (2007) Survey of Global CIOs show that 63% of enterprises expect to grow at a faster rate than the market, twice the percentage from 2006. Innovation is also rated as the key driver for growth.

scholarly journals From fragile to agile: marketing as a key driver of entrepreneurial internationalization

2019 ◽  
Vol 36 (2) ◽  
pp. 260-288 ◽  
Author(s):  
Birgit Hagen ◽  
Antonella Zucchella ◽  
Pervez Nasim Ghauri
Keyword(s):  
Business Processes ◽  
Functional Dependencies ◽  
Multiple Stakeholders ◽  
Content Type ◽  
Partner Interaction ◽  
Key Driver ◽  
Strategic Agility ◽  
The Many ◽  
Practical Implications

PurposeThe purpose of this paper is to conceptualize strategic agility in entrepreneurial internationalization and highlight the role of marketing “under particular conditions” – those of early and fast internationalizers.Design/methodology/approachThe study is based on in-depth case studies of four entrepreneurial internationalizers using an inductive approach. The role of marketing is studied along a set of four key business processes, i.e. sensing through selective customer/partner intimacy; business development through selective experimentation and testing; coordination and harmonization of multiple stakeholders; and creative extension of resources.FindingsStrategic agility is a composite of flexibility and selective responsiveness. Marketing thought, mainly through customer and partner interaction, plays a prominent role in achieving strategic agility. Customer- and market-centric thinking needs to be built in a key set of business processes. Marketing’s contribution to strategic agility means an ability to cope with time, relationship and functional dependencies. Strategic agility helps improve the risk profile of the entrepreneurial internationalizer. Entrepreneurial internationalizers are particularly suited to compete on and benefit from strategic agility.Practical implicationsThe findings show managers and entrepreneurs in early and fast internationalizing ventures a path to strategic agility which helps to overcome the many parallel challenges that come with firm foundation and internationalization.Originality/valueStrategic agility is a novel explanation for entrepreneurial internationalization. The study explains the prominent role played by marketing in achieving strategic agility and growth. Strategic agility is reconceptualized in the context of the young and small internationalizing firm.

Towards a Comprehensive Process Model for Transitioning MIS to KMS

2016 ◽  
Vol 12 (1) ◽  
pp. 1-17 ◽  
Author(s):  
Ricardo Anderson ◽  
Gunjan Mansingh
Keyword(s):  
Information System ◽  
Knowledge Management ◽  
Information Management ◽  
Management System ◽  
Process Model ◽  
Business Processes ◽  
Knowledge Management System ◽  
Developed Economies ◽  
Meaningful Information ◽  
Computing Infrastructure

Information Systems today are dominated by large amounts of computing infrastructure often mapping business processes to people and data. The conversion of this data into meaningful information is fairly well established, although these systems have not been extensively exploited within developing countries. Even in developed economies, where resources and experience flourish, many still struggle with moving from information management to knowledge management. Given that knowledge is posited as the new organizational wealth, it becomes important to integrate knowledge into improving the business and its operations. In this study, a comprehensive process model that guides the conversion of an existing information system to a knowledge management system is developed and evaluated. This is primarily applicable in the developing country context. The results indicate that the model sufficiently represents and organizes the activities to be carried out to meet the desired outcome of converting an existing information system into a knowledge management system.

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