scholarly journals RESEARCH OF THE GLOBAL MARKET OF AUDIT SERVICES IN THE CONTEXT OF TODAY’S CHALLENGES

2021 ◽  
Vol 5 (2) ◽  
pp. 22-33
Author(s):  
Zoriana Dvulit ◽  
◽  
Olha Melnyk ◽  
M. Lazurko ◽  
◽  
...  
Keyword(s):  
Swot Analysis ◽  
Value Added ◽  
Global Market ◽  
Current Crisis ◽  
Global Trends ◽  
Audit Market ◽  
Revenue Structure ◽  
Long Time ◽  
Manual Tasks ◽  
Big Four

Purpose. The purpose of the research is to define the size of the global audit market in 2020, define the revenue of the Big Four for 2014–2020 and predict the amount of income for 2021; to determine how the crisis caused by Covid-19 has affected on the activities of the Big Four companies; perform a SWOT analysis of the audit market in terms of Deloitte, EY, KPMG and PwC; identify trends in the field of audit in 2021, knowledge of which will allow the Big Four to maintain their market position. Design/methodology/approach. The study examines the hypothesis of the effectiveness of global trends in the global audit market, with their possible implementation in the activities of the Big Four companies. The methodological basis of this study are general scientific, theoretical and special research methods that allow analyze all phenomena and processes in the field of auditing in interdependence. To solve the tasks in this study the following methods has been used: statistical and economic analysis, synthesis, logical generalization, comparison, forecasting, SWOT analysis, graphical and expert method. Findings. The study examines the activities of the Big Four companies in the context of today’s challenges. The dynamics of changes in the revenues of the Big Four companies for 2015–2020 and forecasts the total income of the surveyed companies for 2021 have been showed at the study. The authors determined the share of revenues from auditing in the overall revenue structure of each of the companies and graphically presented the revenue structure of the Big Four companies for 2019–2020. The authors developed a SWOT-analysis, which describes the strengths and weaknesses of each of the companies, as well as opportunities and threats to the environment. The authors also summarized the main trends in the global audit market, which were formed as a result of the crisis caused by Covid-19. Practical implications. The research could be used to adapt the experience of large companies in the recommendations for Ukrainian companies in the field of audit. Originality/value. Considering current crisis situation around the world, the results of this study are valuable for international audit companies and for Ukrainian as well, as it shows the main trends in the field of auditing. As organizations experience difficult economic times due to the effects of the Covid-19 pandemic, audit firms will need to prioritize their resources and demonstrate their value effectively in line with these new expectations in 2021. Covering automation and digital technologies such as research analytics, automated control testing, robotic process automation, and continuous risk assessment, auditing can forget about repetitive manual tasks and free up time for more value-added activities. As long as the Covid-19 pandemic continues, the changes caused by the pandemic will be felt for a long time. The experience of auditors in the field of risk management will continue to grow, as all companies will adapt to this new rule. However, despite budget cuts, new audit processes, and custom work, auditors will continue to be reliable business consultants and help companies thrive even in the face of growing threats and an uncertain future.

Evaluation of Lean Manufacturing Systems Using MADM and Fuzzy TOPSIS

2014 ◽  
Vol 592-594 ◽  
pp. 2628-2638 ◽  
Author(s):  
T.G. Arul ◽  
C. Arumugam ◽  
P. Parthiban
Keyword(s):  
Lean Manufacturing ◽  
Manufacturing Systems ◽  
Value Added ◽  
Fuzzy Topsis ◽  
Global Market ◽  
Triangular Fuzzy Numbers ◽  
Management Philosophy ◽  
Order Preference ◽  
Indian Industries ◽  
Real World Situation

Lean manufacturing is a management philosophy derived from Toyota Production System (TPS) which aims to increase the overall values of the product or service provided to the customer through elimination of non-value added activities. In the era of globalisation, to remain competitive in the global market, many medium and small sized Indian industries adopt lean manufacturing. This paper focuses on implementation of lean manufacturing in Indian MSMEs. To examine the implementation, attributes which influence lean manufacturing are obtained and industries’ performances on these criteria are rated. In this paper, the methodology selected from many of the multi criteria models is the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS). In the actual real world situation, because of the unreliable nature of the information gathered, the attributes are often not absolute and are imprecise. These data can be considered as fuzzy and the aim of this paper is to adopt TOPSIS decision making method to problems with fuzzy data. The rating and weights of each data are expressed as triangular fuzzy numbers. These attributes are then normalized and the TOPSIS methodology is carried out to determine the effect of implementing lean manufacturing technique in an industry. The best industry is identified by fuzzy TOPSIS on the basis of performance towards the considered attributes is consistent with results identified by TOPSIS.

The interplay between global accounting firms and national institutional contexts: The establishment of the Big Four in China from 1978 to 2007

2021 ◽  
pp. 103237322110581
Author(s):  
Wenjun Wen ◽  
Amanda Sonnerfeldt
Keyword(s):  
Economic Transition ◽  
Professional Service ◽  
Service Firms ◽  
Professional Service Firms ◽  
Accounting Firms ◽  
Audit Market ◽  
Institutional Contexts ◽  
Reform And Opening Up ◽  
Big Four ◽  
Opening Up

This paper provides an analysis of the establishment of global accounting firms (the ‘Big Four’) in China between 1978 and 2007. Drawing on the extant literature on professional service firms, and the work of Faulconbridge and Muzio (2015) , this paper examines how the Big Four entered China following the country's ‘Reform and Opening-up’ and evolved from tentative representative offices to established accounting firms in the Chinese audit market. Based on an extensive analysis of archival materials and interviews, the findings of this paper show that the Big Four's establishment in China has been deeply intertwined with the country's socio-political and economic transition. It reveals important conjunctural moments in history that have provided the Big Four with important windows of opportunity to actively shape local institutional change to their own interests. This paper contributes to the extant accounting literature on the expansion of the Big Four in China by highlighting the interplay between their surrounding institutional context and their capacity for agency.

Pharmaceutical Concern TEVA

2011 ◽  
pp. 93-98
Author(s):  
B. Dubson
Keyword(s):  
Elderly People ◽  
Global Market ◽  
Living Standards ◽  
New Drugs ◽  
Global Trends ◽  
Pharmaceutical Firms ◽  
Pharmaceutical Group ◽  
Medical Institutions ◽  
Insurance Funds

The author explores the case of the Israeli pharmaceutical group Teva. It is noted that in modern conditions there are favorable factors for an entry into the global market of the small-and medium-sized pharmaceutical firms producing equivalents of patented drugs. The current global trends such as the growth of living standards increase the number of elderly people, who are the main consumers of medications, and the emergence of new drugs to fight the previously incurable diseases significantly increase the demand for medicines. The total costs of purchasing the drugs are becoming increasingly onerous for patients, for all kinds of involved medical institutions (hospitals, medical offices, insurance funds, etc.) and for the governments. Therefore, there is a growing interest in replacing expensive original drugs by the same quality, but cheaper generics.

scholarly journals Lean Management Implementation in Small and Medium Sized Companies – A Success Case Study in a Manufacturing Process

2021 ◽  
Vol 13 (1) ◽  
pp. 88-121
Author(s):  
Fernando Romana
Keyword(s):  
Cultural Change ◽  
Value Chain ◽  
Success Factors ◽  
Value Added ◽  
Global Market ◽  
Medium Size ◽  
Management Approach ◽  
Operational Flow ◽  
Special Relevance

Abstract Objective: The aim of this paper is to understand a production system of a forging and presses structure of a centenary factory in terms of a cultural change on the management approach. Methodology: The study was focused on many aspects such as the pieces production lead time, a time study of the setups, the Overall Equipment Effectiveness determination for the Computer Numeric Control machinery and an analysis of the production cells operational flow. Findings: For the aspects that were analysed during the study, the problems are identified, and the root causes determined. At the end of the assessment stage Lean tools and concepts for fixing the problems were proposed, like new rules for production planning, setups procedures, 5S toll usage and a Lean implementation plan that is adapted to the company. Value Added: The high industrial competitivity has dictated the development for this sector that – allied with the inconstant and unstable economic environment – makes the companies very vulnerable and highly dependent of the global market. This is a concern of special relevance for the Small and Medium Size companies that are increasingly adopting Lean solutions to continuously improve their operational value chain and the management approach, for a more systemic way of thinking. Recommendations: For some of the solutions an impact study with their implementation was made. An analysis of the success factors proposed in the literature that were verified during the assessment stage of the case study was performed as well.

scholarly journals PERSPEKTIF KELEMBAGAAN DIREKTORAT JENDERAL BEA DAN CUKAI (DJBC) DALAM BIDANG PELAYANAN KEMUDAHAN IMPOR TUJUAN EKSPOR (KITE) DI INDONESIA (Institutional Perspective of Directorate General of Customs And Excise in Ease of Import For Export Purposes (KITE), In Indonesia)

2016 ◽  
Vol 16 (1) ◽  
pp. 105
Author(s):  
Djafar Albram
Keyword(s):  
Market Integration ◽  
Manufacturing Industry ◽  
Value Added ◽  
Global Market ◽  
Import Duty ◽  
Value Added Tax ◽  
Institutional Perspective ◽  
Business Interests ◽  
Directorate General ◽  
Technology Transformation

The policy of free trading can be observed by promoting the economy competitiveness of a country through global market integration. One of the integrations that is dynamic of service policy in ease of import for export purposes (KITE) of business interests to those who invest in Indonesia which managed by Directorate General of Customs and Excise (DJBC) that facility return of import duty (BM), or Customs and value-added tax (PPn) and value-added tax of import duty especially other commodities for export purposes. By facilitating that, it is hoped can improve and increase the trading value of export tax revenues,create jobs and then, it makes technology transformation exchange for development of human resources quality of manufacturing industry which running the business in ease of import for export purposes (KITE), in Indonesia. Keywords: KITE, customs and excise, ABSTRAKAdanya kebijakan Perdagangan bebas dapat dilihat dengan upaya peningkatan daya saing ekonomi suatunegara, melalui integrasi pasar global. Salah satu bentuk integrasi dimaksud yaitu adanya dinamika kebijakan pelayanan Kemudahan Impor Tujuan Ekspor yang dikenal dengan istilah (KITE) bagi kepentingan kelancaran usaha bisnis para Investor yang menanamkan Investasinya di Indonesia yang penangganannya ditangani  oleh Institusi Direktorat Jenderal Bea dan Cukai (DJBC) yang memberikan kemudahan fasilitas dalam bidang Pengembalian Bea Masuk (BM), atau Cukai serta PPn dan PPn BM terutama bagi komoditas lainnya yang hasil akhirnya adalah tujuan Ekspor. Dengan pemberian fasilitas tersebut, diharapkan terjadinya peningkatan nilai perdagangan dari penerimaan Pajak Ekspor, Membuka usaha lapangan kerja dan pada gilirannya akan terjadi alih transformasi tehnologi bagi kepentingan peningkatan kualitas Sumber Daya Manusia pekerja  Industri Manufaktur yang bergerak di bidang usaha   KITE di Indonesia. Kata Kunci: KITE menciptakan Iklim Usaha Kondusif.

scholarly journals STRATEGIC DIRECTIONS FOR THE DEVELOPMENT OF THE TOURIST INDUSTRY IN THE REGION

2021 ◽  
Vol 9 (1) ◽  
pp. 72-86
Author(s):  
A. Nebesnaya
Keyword(s):  
Development Strategy ◽  
Swot Analysis ◽  
Value Added ◽  
Well Being ◽  
Tourism Industry ◽  
Transport Infrastructure ◽  
Tourism Sector ◽  
Voronezh Region ◽  
Tourism Activity ◽  
Key Participants

The article provides an overview of the main strategic documents for the development of the tourism industry both at the federal level and at the regional levels. Among the main measures for the implementation of the Strategy for the period up to 2035 in the tourism sector, they noted: the formation of the institutional system of the industry; development of tourist infrastructure; formation of a tourist product; qualitatively new management of the industry; advanced training of participants in the tourism industry; ensuring an increase in the number of foreign tourists visiting the Russian Federation. To analyze the development of these measures in the region, a SWOT-analysis of the development of the tourism industry in the Voronezh region was carried out. The strengths included the availability of significant resources for the development of various types of tourism. The created room stock of accommodation facilities, represented by key foreign and domestic hotel brands, is capable of receiving up to 1.5 million tourists a year. The developed transport infrastructure of the Voronezh region, the presence of the international airport "Voronezh" are significant competitive advantages of the Voronezh region. The weaknesses include the fact that Voronezh and the region do not have a sufficiently developed hospitality industry and a well-recognized brand. The contribution of tourism activity to the well-being of its key participants was considered. A forecast was made in accordance with the Tourism Development Strategy 2035 of the export of tourism services and the gross value added of the tourism industry in Russia.

scholarly journals Assessing the effects of socially responsible strategic partnerships on building brand equity of integrated business structures in Ukraine

2018 ◽  
Vol 9 (4) ◽  
pp. 715-730 ◽  
Author(s):  
Lyudmila Ganushchak-Efimenko ◽  
Valeriia Shcherbak ◽  
Оlena Nifatova
Keyword(s):  
Brand Equity ◽  
Online Survey ◽  
Brand Management ◽  
Value Added ◽  
Strategic Partnerships ◽  
Socially Responsible ◽  
Global Trends ◽  
Survey Results ◽  
Business Structures ◽  
The Impact

Research background: At present, it is critical to raise awareness on how global trends of doing business within the framework of sustainable development affect the success of each business unit, integration associations, and apparently contribute to a nation’s prosperity. Thus, a study aimed at measuring the effects of socially responsible strategic partnerships on building brand equity of integrated business structures (IBS) will provide deeper insights into assessing the effectiveness and relevance of disseminating CSR practices. Purpose of the article: The paper attempts to evaluate the degree of effect of socially responsible strategic partnerships on building strong brand equity of integrated business structures. Methods: The participants in the assessment have been selected from the Forbes TOP 200 largest companies in Ukraine (the ranking was based not only on sales, such metrics as companies’ financial performance, total assets and their current assessed value were also considered). The input data on the CSR indices were obtained from the Center for CSR Development Ukraine. The index of loyalty to a certain brand was calculated as an integral ratio of satisfaction and importance to customers (based on online survey results). To analyze the impact of the endogenous variable of CSR on IBS branding effectiveness (customer loyalty index and brand equity) and its cost effectiveness, correlation regression and factor analysis methods were applied. Findings & Value added: This study demonstrates the feasibility and economic justification of the impact of socially responsible strategic partnerships on brand equity development for integrated business structures. The research has significant implications for brand management of integrated business structures by providing empirical evidence that will improve understanding of the need to implement the concept of socially responsible branding that right today resonates with the moral society.

scholarly journals Global trends in increasing the level of psychological protection during decompression in the context of NATO’s international experience

2021 ◽  
Vol 129 ◽  
pp. 10015
Author(s):  
Maria Yarmolchyk
Keyword(s):  
Personality Traits ◽  
Coping Strategies ◽  
Negative Impact ◽  
Data Distribution ◽  
Value Added ◽  
World Peace ◽  
Adaptive Mechanism ◽  
Global Trends ◽  
Kolmogorov Smirnov ◽  
Global Goal

Research background: World processes of society development are closely connected with many aspects and spheres. World peace, a life without war, is a global goal that is an international goal. An important role in this issue is played by servicemen who defend their country, while sacrificing their own health and lives. Research on the psychology of servicemen is necessary in general in all countries, because psychological disorders occur in absolutely everyone. Coping is a strategy of behavior in complex stressful situations, which is chosen by servicemen to deal with stress. This is a kind of response of the psyche, which is an adaptive mechanism at the time of negative impact. The choice of coping strategies is determined by a number of personality traits that determine the dominant pattern of behavior of a particular serviceman during decompression. Purpose of the article: is to study the personality traits of servicemen, which determine the choice of coping strategies during decompression activities. Methods: research methods are theoretical (analysis, synthesis, generalization, systematization), empirical (surveys, observations, testing, interviews), methods of mathematical statistics (to establish the type of data distribution -Kolmogorov-Smirnov criteria, to establish connections - Pearson's criterion, Student's criterion, multiple regression analysis - Fischer's criterion). Findings & Value added: The personal determinants of the choice of coping strategies by servicemen during decompression are established. The obtained results of empirical research form the basis for the psychological technology of development of personal determinants of the choice of effective coping strategies of servicemen at the stage of decompression.

scholarly journals Comparative Advantages of National Pharmaceutical Industries through the Prism of New Indicators

2020 ◽  
Vol 89 (2-3) ◽  
pp. 48-58
Author(s):  
O. B. Salikhova
Keyword(s):  
Developing Countries ◽  
Pharmaceutical Industry ◽  
Capacity Building ◽  
Value Added ◽  
Global Market ◽  
High Tech ◽  
Medical Products ◽  
Comparative Advantages ◽  
Pharmaceutical Industries ◽  
Production Facilities

Specific ways of the emergence of new actors in the global market of pharmaceutical goods is investigated, with substantiating the role of transnational corporations (TNC), their investment and technologies in establishing pharmaceutical industries in developing countries. The cases of Puerto Rico and Ireland are taken in order to demonstrate the background for expansion of manufacturing of medicines and medical products and analyze the tendencies in their export capacity building. The factors making pharmaceutical TNC transfer production facilities to India and China are substantiated and implications of this process are highlighted. It is revealed that due to the production internationalization, countries that had been net importers of pharmaceuticals just several decades ago have joined the group of key suppliers to external markets. Because American and European TNC are leading in the pharmaceutical industry by R&D expenditure, they are the principal holders of advanced technologies in the industry. It follows that manufacturing of medicines and medical products in most part of countries either directly or indirectly depend on innovative products of TNC and their technology transfer via various channels (both licensing and imports of components, active pharmaceutical ingredients in particular). It is shown that with the emergence of new market actors coming from developing countries, traditional approaches to determining comparative advantages of counties in the global trade need to be improved. The cases of countries that are recipients of foreign technologies, on which territories powerful high tech pharmaceutical production facilities with high shares of intermediate consumption and heavy export supplies are located due to TNC investment or local public-private capital, give evidence that the classical RCA indicator allows to measure visible comparative advantages in the trade in goods rather than revealed ones. It is proposed that analyses of advantages at country level should include the indicator of high tech goods supplies, to provide for a more accurate description of the innovation component in advanced industries. A new approach to the assessment of comparative advantages of high tech pharmaceutical manufacturing is proposed and tested, which is based on the principle of specialization and use of the ratio of Comparative Advantage in Value Added Activity (CAVA) in particular. It is revealed that the pharmaceutical industry of Ireland, Jordan, Singapore, India or Columbia, with reliance on foreign investment and technologies, could gain advantages in value added creation and dominate the national economies. It is shown that Ukraine is enhancing the advantages in value added creation in the pharmaceutical industry; is it substantiated that due to low R&D and innovation performance and heavy dependence on imported components, capacity building of this industry and its current advantages result from global tendencies and global market conjunctures rather than from the implementation of the national science & technology priorities. According to the author’s recommendation, the proposed approach to determining comparative advantages in value added creation should be used for the assessment of other high tech industries, apart from the pharmaceutical industry, and that is should be supplemented by statistical tools for analysis of foreign trade in finished and intermediate high tech goods.

scholarly journals Internal Marketing Communication of the Global Company in Slovak Republic

2021 ◽  
Vol 129 ◽  
pp. 02011
Author(s):  
Jakub Michulek
Keyword(s):  
Swot Analysis ◽  
Slovak Republic ◽  
Value Added ◽  
Internal Marketing ◽  
Internal Communication ◽  
Added Value ◽  
Marketing Communication ◽  
Career Growth ◽  
High Level ◽  
Global Company

Research background: Currently, it is constantly increasing emphasis on the satisfaction of employees in the company. One way to satisfy them through internal marketing communication. Set them training according to their needs and interests and allow them to grow their career growth. It is also the provision of information on time at the required range and especially to be up to date. As a result, employees can perform their work efficiently and work to achieve the required result that the enterprise expects. It is necessary for this internal communication in the company took place both directions for many companies. It follows that finance inserted into education of employees; it will return to a business in an even greater range. Purpose of the article: The aim of this research is to analyses the use of the tools of the communication mix in the field of internal marketing communication of the selected company. Methods: SWOT analysis, Deduction, Comparison. Findings & Value added: Internal marketing communication in chosen company is on high level, according to analyzing tools and results of SWOT analysis. Added value is finding a level of internal marketing communication for company and creating some points for continuing in building quality internal marketing communication.

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