METHODOLOGICAL APPROACHES FOR FORMATION OF STRATEGY OF MANAGEMENT OF SUSTAINABLE ECONOMIC DEVELOPMENT OF THE HOTEL AND CATERING INDUSTRY ENTERPRISE

2017 ◽  
Author(s):  
Olena Judina ◽  
◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Processes ◽  
Strategic Analysis ◽  
Progressive Development ◽  
Sustainable Economic Development ◽  
Commercial Activities ◽  
Catering Industry ◽  
Key Factor ◽  
Methodological Approaches

In modern conditions, the application of the strategic approach to the management of enterprises and their resources is caused by the need to increase the speed and validity of decision-making in changing environmental conditions. At the same time, one of the main tasks of managing economic entities as complex socio-economic systems is to ensure their economic growth and sustainability, and, consequently, sustainable development. Given that the most important component of the management process is the strategy, as it provides a set of activities and instructions, as well as long-term action programs, within which it is planned to achieve the objective, forming a strategy for sustainable economic development is an urgent task. The purpose of the work is to determine the directions, stages, and methodological approaches to the formation of a strategy for managing sustainable economic development of the hotel and catering industry. The process of forming a strategy for managing sustainable economic development of the enterprise, which is aimed at creating a stable position in the environment and conditions for increasing the efficiency of the enterprise in changing market conditions, has been carried out by developing and implementing a strategic plan. It includes the following stages: definition of the purposes and tasks of sustainable economic development of the enterprise; strategic analysis of the starting conditions of the strategy of sustainable economic development management; strategic analysis, evaluation, forecasting, and selection of alternatives for sustainable economic development. To develop the strategy, the cost (to analyze and evaluate resource costs), process (to identify, to differentiate, and to establish the conditions of interaction of business processes), system (to achieve an integrated optimal result with the highest efficiency), target (to identify opportunities for economic growth and progressive development) approaches have been used. This allowed to determine the key factor and criterion parameters of the strategy of sustainable economic development of the hotel and catering industry, to justify the sequence of logically conditioned actions related to the optimal use of enterprise resources to achieve planned (target) results and individual business processes. The proposed methodological tools provided the process of forming a strategy of sustainable economic development of the hotel and catering industry by identifying and mathematically describing the patterns of change in the studied processes, forecasting areas and growth rates of economic efficiency of production and commercial activities under the influence of reserve and progressive development of their resource potentials.

SCIENTIFIC AND METHODOLOGICAL ASPECTS OF THE STRATEGY OF MANAGEMENT OF SUSTAINABLE ECONOMIC DEVELOPMENT OF THE SERVICE ENTERPRISE

2017 ◽  
Author(s):  
Petro Makarenko ◽  
◽  
Olena Judina ◽  
Keyword(s):  
Economic Development ◽  
Regression Models ◽  
Performance Indicator ◽  
Restaurant Industry ◽  
Capital Investments ◽  
Progressive Development ◽  
Sustainable Economic Development ◽  
Commercial Activities ◽  
Marketing Activities ◽  
Methodological Aspects

The article substantiates the methodological tools for the formation of the mechanism for implementing the strategy of sustainable economic development of the hotel and restaurant industry. To ensure the operation of the mechanism, a system of indicators and criteria for assessing the process of sustainable economic development, based on accelerating the growth of efficiency and reducing operating costs through reserve and progressive development of resource potential of the enterprise. The paper identifies the stages of sustainable economic development of the enterprise, which include: identification, grouping and analysis of factors of progressive and reserve development, their classification and determining the degree of influence on the growth of operational (production and administrative and marketing) activities, progressive development of resource potentials; development of regression models and indicators of progressive, reserve and sustainable (static and dynamic) economic development, which explain the patterns of influence of factors on performance indicators; forecasting the parameters of efficiency and cost of production and commercial activities; formation of the volume and structure of investments by types of capital investments that ensure the progressive development of resource potentials, economic growth and sustainability of the enterprise. A methodology for creating regression models and indicators was developed, which provided an opportunity to assess and predict the ratio of resource costs and the level of operational efficiency, as well as change the performance indicator by changing the values of factor parameters or their total value in different combinations. The algorithm of the organizational and economic mechanism of realization of strategy of management of steady economic development of the enterprise of hotel and restaurant sphere is constructed. This algorithm provided the ability to determine the reserves of available resources, as well as to establish the required size and structure of capital investments that reduce costs and increase the efficiency of production and administrative activities.

scholarly journals Enhancing economic development via the increase of the quality of education

2020 ◽  
Vol 8 (2) ◽  
Author(s):  
Katalin Nagy
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Human Capital ◽  
Economic Development ◽  
Educational Development ◽  
Quality Of Education ◽  
Know How ◽  
Sustainable Economic Development ◽  
Key Factor

Sustainable economic development is one of the most important mission of economic policy. More analysis demonstrate that the key factor is the investment of human capital, which means a correlation between economic growth and quality of education. In this study we overview, how human capital and educational development effect to the economic growth, and how is it possible to quantify the results. We also get to know how the degree of development influenced by the quality of education.

FORMATION OF THE MECHANISM OF IMPLEMENTATION OF STRATEGY OF MANAGEMENT OF SUSTAINABLE ECONOMIC DEVELOPMENT OF THE ENTERPRISE AREAS OF SERVICES

2017 ◽  
Author(s):  
Petro Makarenko ◽  
◽  
Olena Judina ◽  
Keyword(s):  
Economic Development ◽  
Regression Models ◽  
Performance Indicator ◽  
Restaurant Industry ◽  
Capital Investments ◽  
Resource Potential ◽  
Progressive Development ◽  
Sustainable Economic Development ◽  
Commercial Activities ◽  
Marketing Activities

The article substantiates the methodological tools for the formation of the mechanism for implementing the strategy of sustainable economic development of the hotel and restaurant industry. To ensure the operation of the mechanism, a system of indicators and criteria for assessing the process of sustainable economic development, based on accelerating the growth of efficiency and reducing operating costs through reserve and progressive development of resource potential of the enterprise. The paper identifies the stages of sustainable economic development of the enterprise, which include: identification, grouping and analysis of factors of progressive and reserve development, their classification and determining the degree of influence on the growth of operational (production and administrative and marketing) activities, progressive development of resource potentials; development of regression models and indicators of progressive, reserve and sustainable (static and dynamic) economic development, which explain the patterns of influence of factors on performance indicators; forecasting the parameters of efficiency and cost of production and commercial activities; formation of the volume and structure of investments by types of capital investments that ensure the progressive development of resource potentials, economic growth and sustainability of the enterprise. A methodology for creating regression models and indicators was developed, which provided an opportunity to assess and predict the ratio of resource costs and the level of operational efficiency, as well as change the performance indicator by changing the values of factor parameters or their total value in different combinations. The algorithm of the organizational and economic mechanism of realization of strategy of management of steady economic development of the enterprise of hotel and restaurant sphere is constructed. This algorithm provided the ability to determine the reserves of available resources, as well as to establish the required size and structure of capital investments that reduce costs and increase the efficiency of production and administrative activities.

The Role of Entrepreneurial Performance in Supporting Economic Development of Countries: An Empirical Approach

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Valentina Diana Rusu ◽  
Angela Roman
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Progress ◽  
Entrepreneurial Performance ◽  
Panel Data Estimation ◽  
Positive Effects ◽  
National Competitiveness ◽  
Key Factor ◽  
Future Economic Development

Abstract Entrepreneurship is recognized as one of the factors stimulating economic growth and increasing economic competitiveness. In addition, the Europe 2020 Strategy has focused its attention on entrepreneurship as a key factor of economic growth, social progress, and employment. In this context, our study examines the role of entrepreneurial performance for sustaining the development of countries, focusing on a sample of European countries. We attempt to reveal if increasing entrepreneurial performance would have significant influence on improving the economic position of countries and their future economic development. Starting from the OECD-Eurostat Entrepreneurship Indicators Programme we use a set of entrepreneurial performance indicators as independent variables and examine to what extent they can influence competitiveness and economic growth, seen as dependent variables of the models. We focus on a period of 10 years (2008–2017) and we apply panel-data estimation techniques. Because the period considered includes the period of the last international financial crisis, we also include in our analysis a dummy variable. Our results emphasize that the changes in entrepreneurial performance play a significant role in enhancing national competitiveness and economic growth. Our findings contribute to the expansion of literature in the field by providing evidence on the correlation of indicators that measure entrepreneurial performance with national competitiveness and economic growth. Moreover, our findings point out the need of the policy makers to adopt measures and policies that help and stimulate entrepreneurs to become more performant because they can generate positive effects to the economy as a whole.

scholarly journals SCIENTIFIC AND METHODOLOGICAL APPROACHES TO ASSESSING THE EFFECTIVENESS OF THE COMPANY'S EMPLOYEES' WORK

2001 ◽  
pp. 117-127
Author(s):  
Svetlana Demchenko ◽  
Keyword(s):  
Sustainable Development ◽  
Economic Development ◽  
Point Of View ◽  
Information Base ◽  
Advantages And Disadvantages ◽  
Labor Efficiency ◽  
Sustainable Economic Development ◽  
Methodological Approaches ◽  
Labor Resources

The information base of the study was the works of economists in the field of approaches to assessing the effectiveness of worker’s work. The article is devoted to the development of an algorithm for evaluating labor efficiency, taking into account the improved methodology. The hypothesis of the study is the assumption of increasing the influence of the concept of sustainable economic development on the choice of methods for evaluating the effectiveness of labor resources. Within the framework of this study, the authors consider various concepts for the study of labor efficiency, highlight the advantages and disadvantages of existing approaches and offer their own concept of evaluating labor efficiency from the point of view of the concept of sustainable development. The approbation of the author's methodology is presented on the example of a specific company.

scholarly journals Synchronizing Operation of Russian Banks and Institutions of Development in the System of National Project Implementation

2021 ◽  
Vol 18 (1) ◽  
pp. 29-36
Author(s):  
E. V. Altukhova
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Special Role ◽  
Active Engagement ◽  
Project Financing ◽  
Market Mechanisms ◽  
After Effects ◽  
Progressive Development ◽  
Normative Practice ◽  
The Government

Stability of economic development depends mainly on the efficiency of steps taken by the government in view of providing the economic growth. Pandemic after-effects cause still greater necessity of progressive development of economy. Institutions of development play a special role in intensifying investment processes. Well-organized functioning of these structures can resolve problems, which can hardly be settled by market mechanisms. Taking into account the need in efficient tools for national projects implementation, the key problem we are facing now is how to ensure the productive interaction of infrastructural elements of the economic system. In this context the article studies issues of interaction of institutes of development in the system of national projects implementation in view of specific features of economic development and normative practice. As a result of the present analysis a set of measures and recommendations were worked out, which could foster the attainments of national goals of development by active engagement of institutions of development in the process of national projects implementation. The author proposes to strengthen the system of monitoring project financing in order to make it more flexible and grounded in the aspect of responding the changes in the object needs. The article also shows the possibility of Russian banks and institutions of development interaction in conditions of synchronization.

A Systemic Approach towards Responsible and Sustainable Economic Development

2017 ◽  
pp. 208-227
Author(s):  
Thea Van der Westhuizen
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Systems Theory ◽  
Systemic Approach ◽  
Economic Changes ◽  
Sustainable Economic Development ◽  
Collective Innovation ◽  
Sustainable Economic Growth ◽  
Innovation And Entrepreneurship

A possible way to increase responsible and sustainable economic development is to enhance collective innovation and entrepreneurship on various systemic levels in order to gain socio-economic developmental momentum. In an era which faces socio-economic changes on multiple systemic levels, especially within the mundosystem, collective and creative approaches towards systemic activities are necessary, not only to drive businesses forward, but to give momentum to global economies. In this chapter, the author philosophizes about entrepreneurship, systems theory and socio-economic momentum and how these play an important role to give momentum to responsible and sustainable economic growth.

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