scholarly journals Changing approaches to the methodology of comprehensive analysis of banking services in the current economic conditions

Servis plus ◽  
2017 ◽  
Vol 11 (3) ◽  
pp. 39-46
Author(s):  
Анна Костоварова ◽  
Anna Kostovarova
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Business Processes ◽  
Business Environment ◽  
Comprehensive Analysis ◽  
Economic Conditions ◽  
Potential Cost ◽  
Organization Effectiveness ◽  
Other Information ◽  
Cost And Benefit Analysis

In the current economic conditions, banks pay attention not only to the basic functions associated with handling and increment of the capital, but also additional functions, such as financial services to individuals and legal entities. In this regard, the development strategy of banks significantly changes – it must be aimed not only at ensuring Bank liquidity, but economic sustainability, which components are efficiency and competitiveness. To develop a new strategy banks need the other information that requires a revision not only of the data collection, but also processing and synthesis, that means the methods of analysis. This urgent challenge facing the banking community is the main content of this article. The author proposes to consider the possibility of changing approaches to methodology of a comprehensive analysis of the banks. According to the author, a comprehensive analysis should include two parts: the first involves the strategic positioning of the Bank, the second is the assessment of the organization effectiveness. The first block combines analysis of the main strategic alternatives based on the identification and assessment of the influence degree of external business environment factors and business processes. The second block, in particular, assesses the resource potential; cost and benefit analysis; financial condition; quality of services and level of service. Personal contribution of the author to the improvement of comprehensive analysis techniques is clarifying composition of economic indicators to assess strategic position, competitiveness, business processes, and their interpretation.

scholarly journals КОНСОЛІДОВАНО-АНАЛІТИЧНА СИСТЕМА ОЦІНЮВАННЯ РОЗВИТКУ ПІДПРИЄМСТВ ЯК ОСНОВА УПРАВЛІНСЬКОЇ ЕФЕКТИВНОСТІ: ДОЦІЛЬНІСТЬ ЗАСТОСУВАННЯ ДИВЕРСИФІКАЦІЙНО-ІНТЕГРАЦІЙНОГО НАПРЯМУ

2020 ◽  
Vol 147 (3) ◽  
pp. 83-97
Author(s):  
Христина Ярославівна Залуцька
Keyword(s):  
Development Strategy ◽  
Process Optimization ◽  
Business Processes ◽  
Development Trend ◽  
Business Environment ◽  
Business Development ◽  
Evaluation Framework ◽  
Analytical Evaluation ◽  
Current Position ◽  
Modern Development

In the context of neo-technological reproduction, the diversification and integration development strategy will contribute to ensuring long-term effective business performance through extensive use of available business capacities necessary for creating products which foster transformational process cycling within their operating environment. The diversified integrative development is a unique development paradigm that triggers optimally rational use of the enterprise current position specifics, opportunities for diversification, identification of business units within business operational activity structure as well as offers benefits of its integration with attractive stakeholders. In turn, this translates into the need to build a certain consolidated framework for evaluating the above development trend which would enable to determine the feasibility, expediency, and the relevance of such development. This ideally should be grounded upon the promising business processes in the current and strategic periods and thus driving the priority of their efficiency evaluation alongside the opportunity for rationalization of the number and structure of particular business processes to ensure enterprise effective functioning in the neo-technological reproduction settings. The purpose of this article is to build a consolidated analytical framework to evaluate the diversified integrative business development as the core for its managerial efficiency. The research has been carried out by employing the methods of classification; analogy; abstraction; grouping; analysis; synthesis and morphological analysis. The developed consolidated analytical evaluation framework is based on the principles that enable to explore the relevance and the applicability of using the diversification and integration development strategy and to assess its implementation effectiveness. The findings provide rationale for selecting indicators to assess the relevance of implementing the diversification and integration development strategy by using a development trend criterion, since the evaluation results obtained for each unit will facilitate the possibility and specify the need for its application, subject to enterprise business environment specifics as well as its further development prospects. To attain better effectiveness in selecting a promising development trend, a corresponding evaluation framework has been suggested based on performance efficiency indicators, optimality, and the maximum possible effectiveness of the interaction between enterprise business processes, identified within its structural components which boosts these process optimization to ensure successful business development in conditions of rapidly changing environment. It is argued the proposed consolidated analytical evaluation framework will contribute to assessing the enterprise current position, its compliance with modern development trends and opportunities for increasing performance efficiency through rationalization of enterprise business structure (business process optimization), along with providing implications that help selecting an effective area for further successful strategic development.

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.

A Comparison of Implementation Resistance Factors for DMSS Versus Other Information Systems

2004 ◽  
pp. 315-332 ◽  
Author(s):  
Kristina Setzekorn ◽  
Vijayan Sugumaran ◽  
Naina Patnayakuni
Keyword(s):  
Decision Making ◽  
Information Systems ◽  
Business Processes ◽  
Support Systems ◽  
Business Environment ◽  
Executive Information Systems ◽  
Resistance Factors ◽  
Knowledge Based ◽  
Other Information ◽  
Effective Decision Making

Effective decision-making within and across organizations is of strategic importance as the global business environment becomes more complex. Business processes and their related computer based information systems (CBIS) must support integrated decision-making. While decision support systems (DSS), executive information systems (EIS), and knowledge-based systems (KBS) have been independently used to support problem solving and decision making activities, they are still not widely implemented and accepted by a broad spectrum of organizations. Identifying the reasons for the lack of widespread use, as well as integration of these technologies would enable organizations to better design and implement these support systems. Using 41 narratives, we have compared decision-making support systems (DMSS) resistance factors with those of other CBIS to better understand these factors and their impact on DMSS implementation.

Lessons learned in intellectual capital management in Germany between 2000 and 2020 – History, applications, outlook

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Manfred Bornemann ◽  
Kay Alwert ◽  
Markus Will
Keyword(s):  
Development Strategy ◽  
Intellectual Capital ◽  
Business Models ◽  
Business Processes ◽  
Lessons Learned ◽  
Strategy Development ◽  
Management Approach ◽  
Content Type ◽  
Over Time ◽  
Made In

PurposeThis article reports on the background, the conceptual ideas and the lessons learned from over more than 20 years of IC Statements and Management with a country focus on Germany and some international developments. It calls for an integrated management approach for IC and offers case study evidence on how to accomplish this quest.Design/methodology/approachReport on the German initiative “Intellectual Capital Statement made in Germany” (ICS m.i.G.). A brief review of the literature describes the background and theoretical foundation of the German IC method. A short description of the method is followed by four detailed case studies to illustrate long-term impact of IC management in very different organizations. A discussion of Lessons Learned from more than 200 implementations and an outlook on current and future developments finalizes the article.FindingsIC Statements made in Germany (ICS m.i.G.) was successful in providing a framework to systematically identify IC, evaluate the status quo of IC relative to the strategic requirements, visualize interdependencies of IC, business processes and business results as well as to connect IC reporting with internal management routines and external communication. However, ICS is not an insulated method but delivers the maximum benefit when integrated with strategy development, strategy implementation, business process optimization accompanied by change management routines. Strong ties to human resource management, information technology departments, quality management, research and development teams as well as business operations as the core of an organization help to yield the most for ICS m.i.G. Over time, the focus of managing IC changes and maturity leads to deutero learning.Practical implicationsICS m.i.G. proved easy to apply, cost efficient for SMEs, larger corporations and networks. It helps to better accomplish their objectives and to adjust their business models. The guidelines in German and English as well as a software application released were downloaded more than 100,000 times. A certification process based on a three-tier training module is available and was successfully completed by more than 400 practitioners. ICS m.i.G. is supporting current standards of knowledge management, such as ISO 9001, ISO 30401 or DIN SPEC PAS 91443 and therefore will most likely have a continuing impact on knowledge-based value creation.Originality/valueThis paper reports lessons learned from the country-wide IC initiative in Germany over the last 20 years initiated and supported by the authors. Several elements of the method have been published over time, but so far no comprehensive view on Lessons Learned had been published.

ANALYSIS OF THE STRUCTURAL DYNAMICS OF THE DIGITAL ECONOMY IN TODAY'S REALITIES

2021 ◽  
Vol 14 (1) ◽  
pp. 40-47
Author(s):  
Tatуana Ivanovna LOMACHENKO ◽  
Keyword(s):  
Structural Dynamics ◽  
Digital Technology ◽  
Business Strategy ◽  
Production Management ◽  
Production Efficiency ◽  
Business Processes ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Evolutionary Stage

Nowadays, there is no consensus that digitalization is a threat to business security or an opportunity to comprehensively manage the entire chain of business processes in real time, taking into account incoming data from all assets. However, political and economic instability, demand volatility, and competition are all a set of global challenges that digital transformation has responded to. In industry, the competitive advantage has become not the ownership of the enterprise, the firm, but access to digital technology, on which the efficiency of work with specific resources depends. The processes of forming individual business segments related to production management based on modern digital technology have already been launched and most companies are focused on this direction. The article reveals the features of the evolutionary stage of digital economy development, presents the relationship of this process with the formation of the conceptual framework from the theoretical foundations, substantiated in the 1990s by foreign and domestic scientists to modern approaches in the interpretation of digital economy definitions. The article proposes the structural dynamics of the digital economy in today's realities, revealing internal problems, opportunities for economic growth, maturity and readiness of the state to new ways of doing business in the digital economy and digital transformation, to form the country's national strategy. In addition, the conditions under which digital transformation opens up new opportunities for the business environment, the public sector and society as a whole are presented. Changes in business strategy, organizational forms, business process capabilities, new approaches in working with clients, competitive advantages, increase in profit sources are analyzed. As a result, the efficiency of the whole system increases, which allows to reach a fundamentally new level of production efficiency in a short time.

scholarly journals Training and Development Strategy and Its Role in Organizational Performance

2011 ◽  
Vol 1 (2) ◽  
pp. 42 ◽  
Author(s):  
Brig(Retd) Abdus Sattar Niazi
Keyword(s):  
Competitive Advantage ◽  
Organizational Performance ◽  
Development Strategy ◽  
Learning Organizations ◽  
Training Programs ◽  
Business Environment ◽  
Training And Development ◽  
Global Level ◽  
Value Addition

In the FMCG industry at global level, the business environment has changed with intense pressure on organizations, to become ‘Learning Organizations’  and stay ahead of their competitions by bringing innovation/reinvention in training and development strategy while emphasizing on planning, designing, implementing and evaluating the training programs. Carry out an analysis that the objective of training and development is to create learning organizations which ensure that employees through value addition can effectively perform their jobs, gain competitive advantage and seek self growth: this measurable performance resulting from good training and development, shall enhance organizational performance.  

scholarly journals UNCERTAINTY AND RISKINESS OF SMART CONTRACTUAL RELATIONSHIPS IN THE GLOBAL BUSINESS

Management ◽  
2018 ◽  
Vol 27 (1) ◽  
pp. 66-78
Author(s):  
Andrii V. GRONA
Keyword(s):  
Business Processes ◽  
Business Environment ◽  
Business Activity ◽  
Competitive Advantages ◽  
Global Business ◽  
Theoretical Substantiation ◽  
World Markets ◽  
Contractual Relationships ◽  
Modern Economic ◽  
Business Entities

Introduction and Objective of the Research. According to the modern economic theory, compliance in the global business and its support occupy a certain, moreover, indefinite place among the heaviest burdens for global business entities. The objective of the article is to cover the issue of smart contractual relationships (SCR) as a way to increase the business activity of global business entities by minimizing compliance risks (CR).Hypothesis of Research Studies. With current technology solutions available today, it is expected that SCR will allow minimizing the burden of global business entities by widespread CR. The most important role among such solutions is played by the latest distributed ledger technologies (DLT). In the medium term, these technologies will reach such a level of development, at which the transition of contractual relationships from ordinary to intelligent ones will not only lead to the decrease in business activity in world markets, but will also contribute to its substantial increase.Objective. To prove that CR substantially overburden global business processes; to substantiate the urgency of the issue of the transition of the global business to SCR, as a way to a possible lack of CR in the global business environment.Research Methods:- theoretical substantiation for proving the significance of CR as factors of the global business environment and the necessity of using DLT in SCR;- statistical analysis for conducting a normative monetary valuation of CR and representing the degree of awareness by global business entities (GBE) of the competitive advantages of SCR over ordinary ones.Results: the significance of compliance risks in the global business is defined; the importance of smart contractual relationships in the way of eliminating compliance risks essential for entrepreneurship is theoretically grounded. The existence of advantages of the activities of global business entities within one or more sectors according to the cluster principle has been proved:- the cluster economy is a set of solely smart contractual relationships with the use of blockchain technologies;- using these technologies, entrepreneurship in the cluster is accompanied by minimal compliance risks.Conclusions. The article outlines the economic essence of SCR using DLT. Accordingly, theoretically, DLT will promote the spread of SCR to the entire global business environment, since business processes that are not accompanied by CR are possible then. Further research will cover the essence of DLT, due to which all the main advantages, as well as all existing deficiencies of the technology and defects for their active introduction in SCR in the world.

scholarly journals Adaptive model to support business process reengineering

2021 ◽  
Vol 7 ◽  
pp. e505
Author(s):  
Noha Ahmed Bayomy ◽  
Ayman E. Khedr ◽  
Laila A. Abd-Elmegid
Keyword(s):  
Business Process ◽  
Success Factors ◽  
Business Processes ◽  
Business Environment ◽  
Process Time ◽  
Critical Success ◽  
Proposed Model ◽  
Before And After ◽  
Time Cycle ◽  
The One

The one constant in the world is change. The changing dynamics of business environment enforces the organizations to re-design or reengineer their business processes. The main objective of such reengineering processes is to provide services or produce products with the possible lowest cost, shortest time, and best quality. Accordingly, Business Process Re-engineering (BPR) provides a roadmap of how to efficiently achieve the operational goals in terms of enhanced flexibility and productivity, reduced cost, and improved quality of service or product. In this article, we propose an efficient model for BPR. The model specifies where the breakdowns occur in BPR implementation, justifies why such breakdowns occur, and proposes techniques to prevent their occurrence again. The proposed model has been built based on two main sections. The first section focuses on integrating Critical Success Factors (CSFs) and the performance of business processes during the reengineering processes. Additionally, it implements the association rule mining technique to investigate the relationship between CSFs and different business processes. The second section aims to measure the performance of business processes (intended success of BPR) by process time, cycle time, quality and cost before and after reengineering processes. A case study of the Egyptian Tax Authority (ETA) is used to test the efficiency of the proposed model.

scholarly journals Transformation of digitalization system of business processes at VTB Bank, PJSC

2021 ◽  
Vol 2021 (2) ◽  
pp. 70-79
Author(s):  
Viktoria Valerievna Mandron ◽  
Nikita Sergeevich Budaev ◽  
Alice Aleksandrovna Pototskaya ◽  
Tatiana Nikolaevna Sidorina
Keyword(s):  
Financial Services ◽  
Information Technologies ◽  
Business Models ◽  
Business Processes ◽  
Banking Sector ◽  
Financial Institution ◽  
Block Diagram ◽  
It Architecture ◽  
The People ◽  
Technological Platform

The article is focused on the increasing role of modern information technologies in banking sector. Today, the informatization process includes not only developing a safe and modern infrastructure, networks, data processing centers, but also creating the so-called digital economy on the basis of this infrastructure, which will bring new sources of income to the state and the people. The banking sector of the Russian Federation is most actively involved in the process of solving this problem. The development of automated business processes in VTB Bank (PJSC) is considered in detail. There is presented an overview of the bank's information technologies in such key areas as artificial intelligence, big data analysis, machine learning, virtual and augmented reality, optical recognition, robotics, robotization of process, blockchain, and chat bots. The dynamics of the main indicators of a financial institution activity is analyzed, an assessment of indicators characterizing the dynamics of changes in capital, net profit and profitability of the bank is presented. It has been stated that the strategic directions for the development of business processes in VTB Bank (PJSC) are constructing an advanced operational and technological platform, increasing the level of digitalization of the banking business, leadership in the financial services market in a number of ecosystems, developing a highly productive organization and culture, as well as growing the customer-centricity of business models. The block diagram of the VTB Bank transformation for 2020–2022 and the target version of the IT architecture of the bank have been illustrated. Changes in the IT architecture are one of the stages of the bank's digital transformation strategy. According to the objectives of the strategy of VTB Bank (PJSC), 100% of financial services should become available to customers online.

scholarly journals Financial-credit sector in socioeconomic development strategy of the Republic of Azerbaijan

2019 ◽  
Vol 2 ◽  
pp. 65-70
Author(s):  
Leyla Mirgamishli ◽  
Keyword(s):  
Development Strategy ◽  
Financial Services ◽  
Socioeconomic Development ◽  
Information Support ◽  
Digital Information ◽  
Road Map ◽  
Financial Credit ◽  
The Republic ◽  
High Degree ◽  
Modern Technologies

Given the high degree of openness of the Azerbaijani economy and the sensitivity of national banks to global challenges, the Strategic Road Map on the development of financial services was developed and introduced in 2016 in the Republic. The project was created taking into account the principles of modern technologies: financial inclusion; digital information support; protection of the rights of consumers of banking services; etc. The project implementation led to the modernization of the financial and credit sector of the Republic of Azerbaijan, to the introduction of modern operating systems in various segments of financial institutions.

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