scholarly journals EVALUATION OF THE EFFICIENCY OF FRANCHISING IN THE HOTEL BUSINESS

2021 ◽  
Author(s):  
Svitlana Pavlova ◽  
Anastasiia Zaichuk
Keyword(s):  
Business Processes ◽  
International Standards ◽  
Activity Restriction ◽  
Economic Relations ◽  
Advantages And Disadvantages ◽  
Operational Risks ◽  
Consulting Services ◽  
Full Capacity ◽  
New Ideas ◽  
Crisis Conditions

The development of tourism is inextricably linked with the effective functioning of accommodation facilities, which in many countries form a significant share of gross domestic product. The hotel complex of Ukraine needs development and significant investment resources for reconstruction and bringing to international standards. Franchising can become an effective and efficient mechanism for conducting hotel business, which will reduce the risk of business activities, optimize investment, increase the level of hospitality services. The article analyzes the conceptual approaches to the organization of hotel business on a franchise basis in the Ukrainian market, explores the essence and mechanism of business processes on a franchise basis, outlines the economic relations between participants in such relations, identifies advantages and disadvantages of franchising for participants: franchisor and franchisees. In order to assess the effectiveness of opening hotels under franchise agreements, in addition to financial indicators based on discount estimates, it is necessary to take into account the additional benefits that franchisees will receive from consulting services of the franchisor, such as concessional lending, rent, transfer of contracts with suppliers and contractors. reduction of the period of reaching full capacity, transfer of the established business practice, etc. It is the transfer of an efficient business model that will reduce operational risks and guarantee high economic performance. The state and prospects of hotel activities in the conditions of activity restriction due to the COVID-19 pandemic are also considered. Crisis conditions of economic activity always give impetus to new ideas and development of new services. The vectors of further development are the informatization of most technological operations in the industry, and the optimization of operating costs, the formation of a new product, such as renting office space for business people who are ready to work and relax at the same time.

scholarly journals Features of enterprise risk management associated with operational risks

2021 ◽  
Vol 10 (46) ◽  
pp. 9-19
Author(s):  
Andrey S. Boyar-Sozonovitch ◽  
Alexey Yu. Buikin ◽  
Kirill V. Pitelinskiy
Keyword(s):  
Risk Management ◽  
Business Processes ◽  
Enterprise Risk Management ◽  
Classification Systems ◽  
Corporate Risk Management ◽  
Economic Relations ◽  
Operational Risks ◽  
Sufficient Detail ◽  
Enterprise Risk ◽  
Corporate Risk

Purpose of the work: within the framework of the concept of corporate risk management Enterprise Risk Management (ERM) to study the basic types of risks, assess their role in the modern economy, analyze external and internal operational risks and propose approaches to their quantitative assessment. As a research methodology, it is proposed to use the developed tools of mathematical and numerical modeling, which allows one to obtain, in the key of interest to the decision maker, qualitative and quantitative characteristics of the dynamics of business processes. The operational and economic risks (as very often occurring in the activities of subjects of economic relations) and directly affecting their economic and information security are considered in sufficient detail. It is noted that the risks associated with disruption of business continuity (which enterprises face in their activities) can be included in various classification systems of risks, grouped according to various criteria. The need to identify the mismatch between the design and actual metrics of the organizational structure (establishment of its structure and operating schemes based on the needs of the enterprise/organization) is indicated for solving the optimization problem.

scholarly journals DIGITALIZATION OF ENTREPRENEURIAL ACTIVITY

2021 ◽  
Keyword(s):  
Corporate Culture ◽  
Business Processes ◽  
New Technologies ◽  
Entrepreneurial Activity ◽  
Necessary Condition ◽  
Successful Implementation ◽  
Highly Qualified ◽  
Economic Relations ◽  
Advantages And Disadvantages ◽  
Business Efficiency

The article considers a number of issues related to the concept of digitalization of entrepreneurial activity, its content, advantages and disadvantages, problems of its perception and implementation in domestic enterprises. The analysis is based on the premise that digitalization, covering all areas of the economy and business, contributes to the establishment of internal and external relations and, ultimately, to increase company productivity and business efficiency. Based on a comparative analysis of the definitions of digitalization, the following interpretation of this term is proposed: “digitalization of entrepreneurship” is a process of business transformation that involves the use of digital technologies to optimize business processes, increase company productivity and improve customer experience. Successful implementation of digitalization requires a proper understanding of these processes by the management of the enterprise. Rapid changes in the external environment in the context of globalization are forcing us to adapt to new digital innovations. Business owners should understand that in order to be competitive in today's environment it is necessary to implement new approaches to doing business and develop new products using digital channels of the enterprise. Digitalization helps to generate new business ideas, increases creativity and innovative approaches to their activities. A component of the digitalization process is to meet the needs of retailers who are constantly changing and interacting with new technologies, seeking to quickly and comfortably meet their own needs. The advantages and disadvantages of digitalization are generalized and grouped. It is noted that the benefits are not guaranteed, and in case of failure may not appear. The key role is played by the qualification of staff: the availability of highly qualified personnel is a necessary condition for successful digitalization, so the appropriate staffing is one of the difficulties faced by the company in the implementation of digitalization processes. Digitalization of entrepreneurship is an innovative creative process, so there can be no standard instructions for its implementation. However, it can be argued that the key to its successful implementation is corporate culture and innovation in activities at all levels of the enterprise in order to implement operational changes. The digitalization of the enterprise will promote the development of new types of business activities, the formation of a new quality of economic relations, the disclosure of intellectual and creative potential of all employees. This is especially important to increase the competitiveness of the enterprise.

Analyzing the regional tax policy: The Republic of Dagestan case study

2021 ◽  
Vol 27 (6) ◽  
pp. 1312-1333
Author(s):  
Zarina G. ABAKAROVA ◽  
Patimat G. ISAEVА
Keyword(s):  
Systems Analysis ◽  
Tax Policy ◽  
Positive Impact ◽  
Economic Life ◽  
Economic Relations ◽  
Advantages And Disadvantages ◽  
Policy Objectives ◽  
The Republic ◽  
Case Study Methods

Subject. We consider the economic relations that arise in the process of formation and implementation of the regional tax policy. Objectives. The purpose is to analyze the regional tax policy considering the Republic of Dagestan as a case study. Methods. The study employs methods of statistical, economic and mathematical, and systems analysis. Results. We propose measures that may be implemented in the system of tax policy of the Republic of Dagestan and contribute to its improvement in conditions of financial instability. Nevertheless, these proposals require further attention, a deeper level of design and development of testing scheme. They may also be used to study the tax policy of the region. Conclusions. The comprehensive analysis shows that the tax policy and other approaches to the regulation of the economic life of the country have advantages and disadvantages. It is obvious that the application of these tools may have a positive impact on the economy.

CRITICAL ANALYSIS OF APPROACHES TO ASSESSING THE IMPACT OF BUSINESS PROCESSES ON THE FINANCIAL PERFORMANCE OF AN ORGANIZATION

2021 ◽  
Vol 4 (4) ◽  
pp. 201-205
Author(s):  
A. L. GENDON ◽  
◽  
G. F. GOLUBEVA ◽  
Keyword(s):  
Financial Performance ◽  
Critical Analysis ◽  
Business Processes ◽  
International Standards ◽  
Financial Indicators ◽  
Life Activity ◽  
Cost Of Production ◽  
The Cost ◽  
The Impact

The article reveals a system of financial indicators that characterize business processes, accounting for income and expenses according to Russian and international standards. The ways of increasing the efficiency of the company's life activity, in particular, the ways of reducing the cost of production, are considered.

scholarly journals PROFESSIONAL JUDGMENT OF AN ACCOUNTANT UNDER UNCERTAINTY

2021 ◽  
Author(s):  
Iryna Melnychuk ◽  
◽  
Oksana Lopatovska ◽  
Keyword(s):  
Business Processes ◽  
Rapid Development ◽  
International Standards ◽  
Professional Judgment ◽  
Accounting System ◽  
Basic Principles ◽  
Domestic Legislation ◽  
Variable Characteristic ◽  
Specific Alternative ◽  
The Cost

The modern accountant works in extremely difficult conditions, which is associated with the rapid development of the service economy, which leads to the formation of new and complex business processes and operations. Since all transactions must be reflected in the accounting system of the enterprise, there is a need to find sound methods that allow to implement it within the existing legal field. However, domestic legislation in the field of accounting and taxation is increasingly undergoing changes that are not always relevant and systematic. As a result, the accountant in his work is faced with problematic issues that need to be addressed immediately. However, the solution of such problems is not always directly regulated by law. In such conditions, the role and importance of professional judgment of the accountant, the content of which is disclosed in the article, increases significantly. It is determined that professional judgment is bases on acquired knowledge, own skills, abilities, experience and professional sense, and is a kind of superstructure of professional opportunities. The cost of such a judgment depends on the result obtained on the basis of its application. Professional judgment is a variable characteristic of an accountant's capabilities and requires constant development. To do this, you should follow certain principles, which include consistency, argumentation, reliability, completeness, logic. Adherence to these principles will form the level of professional judgment that will provide an opportunity to effectively solve non-standard production situations and bring additional income to the accountant. In addition, we believe that the application of international accounting and reporting standards provides more opportunities for the development of accounting judgment. This is because international standards describe the basic principles that a particular entity must comply with. Domestic accounting regulations provide many alternatives by which objects can be recognized in accounting. Therefore, the development of professional judgment in the application of national provisions is primarily related to the justification of a specific alternative or scheme of application of methods of recognition, evaluation, accounting of individual objects.

scholarly journals Financial statements as the main source of information on the enterprise activity

2021 ◽  
Vol 11/1 (-) ◽  
pp. 27-30
Author(s):  
Nina OVSIUK ◽  
Zhanna SHALIIEVSKA ◽  
Kateryna HULKO
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
International Standards ◽  
Foreign Banks ◽  
Practical Implementation ◽  
Economic Activities ◽  
Management Decisions ◽  
Economic Relations ◽  
Intelligent Technology ◽  
Transparency And Disclosure

The essence of effective management of each business entity depends primarily on transparency and disclosure of information about its financial and economic activities. The financial report itself covers all important information about the state of the enterprise and provides an opportunity to obtain financial status with it by the interested user for further analysis and decision-making on further activities. As a rule, investors of creditors, state bodies, representatives who are preparing in construction with the business entity are interested in financial reporting. In order to provide more detailed and informative financial reporting to users, it is necessary to compile it with international standards, which act as tools for globalization of the economy and contribute to the development of global economic relations. During 2020–2021, the activities of enterprises took place in extremely difficult conditions, which is why the pandemic significantly affected the financial reporting indicators. Today, there is an appropriate use of intelligent technology and computer technology in the formation of financial statements. Financial statements based on taxonomies of financial statements for IFRS are prepared and presented in a single electronic format using Extensible Business Reporting Language (XBRL). XBRL is a generally accepted international standard for presenting financial statements in accordance with IFRS in electronic form. With the help of IFRS, Ukrainian companies have more effectively solved the following tasks: attracting investments and loans from the world's largest companies and banks, the ability to service financing from foreign banks and other organizations; placement of shares on international stock exchanges; providing the company's management with reliable information for making management decisions, as well as evaluating their adoption. Thus, today the economy of Ukraine depends on the choice of IFRS as a conceptual basis for accounting and its practical implementation. After all, the financial statements are fully open to internal and external users to make informed management decisions regarding cooperation with the relevant entity.

scholarly journals АНАЛІЗ ВПЛИВУ ЧИННИКІВ НА ФОРМУВАННЯ СИСТЕМИ ІНТЕГРОВАНОГО ПАРТНЕРСТВА

2021 ◽  
Vol 149 (4) ◽  
pp. 65-75
Author(s):  
Danyil V. Laponoh
Keyword(s):  
Critical Role ◽  
Road Transport ◽  
Public Private Partnership ◽  
Private Partnership ◽  
Economic Relations ◽  
The Road ◽  
Advantages And Disadvantages ◽  
Transport Services ◽  
Wide Range ◽  
Research Findings

This study focuses on a wide range of issues related to the effects of integration process on the development of economic relations, in particular, in the road transport services market. Special emphasis is put on the critical role of integration in contributing to building circular technological supply chains, ensuring sales coordination and management, reducing unit costs and increasing labor productivity. It is argued that the outcome of integration translates into a cohesive economic mechanism which in addition to its integrated elements is characterized by the presence of a core coordination element. The article offers a definition to a public-private partnership phenomenon, identifies its advantages and disadvantages, explores the mechanisms of public-private partnership implementation as well as suggests a toolkit to optimize the partnership functioning for integrated structures. This is a pioneering study that provides a rationale for the need to use several public-private partnership patterns simultaneously together with developing a mechanism for carrying out public-private partnership which is proposed to be consolidated into the mechanism of integrated partnership viewed as the most preferable one to be implemented in the market of road transport services. It has been verified that the integrated partnership pattern provides an opportunity to develop competitive advantages of all its participants. The research findings have enabled to make the following generalizations: the existing partnerships differ in types of arrangements and institutional support; prior to making a decision to launch a specific integrated partnership project, the mechanism of its implementation should be envisaged; to enhance the efficiency of the integrated partnership project implementation, building relevant infrastructure facilities is paramount; the prospects for further integrated partnership project operation assume the utilization of a network mechanism of public-private partnership which best meets the needs and the specifics of the road transport services market.

Design of Portal for Improvement Controlling Sales Channel

2014 ◽  
Vol 693 ◽  
pp. 445-450
Author(s):  
Matus Peci ◽  
Pavel Vazan ◽  
Vladimir Surka
Keyword(s):  
Performance Indicators ◽  
Web Application ◽  
Business Processes ◽  
Initial Conditions ◽  
Content Management ◽  
Appropriate Technology ◽  
Content Management System ◽  
Sales Channel ◽  
Advantages And Disadvantages ◽  
Financial Costs

This paper presents design of portal that improves controlling of sales channel at initial conditions. The customer needed to display key performance indicators on the portal and thus significantly improve the efficiency of business processes after the deployment of Microsoft Dynamics CRM 2011. The aim of this paper is to choose appropriate technology to create a portal and design possible architecture of solution. Microsoft Dynamics CRM 2011 with Web Application Microsoft SharePoint platform provide a solution for process control of business processes in company that is primarily offered like as the best solution. On the other hand, we found the possibility of open source content management system DotNetNuke, which meets customer's requirements and therefore, there is a possibility to reduce financial costs when selecting this system. Finally, we evaluated considered technologies, prepared more price variations of architecture and compared advantages and disadvantages of these variations.

Modelling blockchain-based business processes: a comparative analysis of BPMN vs CMMN

2021 ◽  
Vol 27 (2) ◽  
pp. 638-657
Author(s):  
Fredrik Milani ◽  
Luciano Garcia-Banuelos ◽  
Svitlana Filipova ◽  
Mariia Markovska
Keyword(s):  
Design Methodology ◽  
Business Processes ◽  
Process Analysis ◽  
Process Models ◽  
Disruptive Technology ◽  
Content Type ◽  
Advantages And Disadvantages ◽  
Blockchain Technology ◽  
Block Chain ◽  
Insight Into

PurposeBlockchain technology is increasingly positioned as a promising and disruptive technology. Such a promise has attracted companies to explore how blockchain technology can be used to gain significant benefits. Process models play a cardinal role when seeking to improve business processes as they are the foundation of process analysis and redesign. This paper examines how blockchain-oriented processes can be conceptually modelled with activity- (BPMN) and artifact-centric (CMMN) modelling paradigms.Design/methodology/approachThis paper discusses how commonly occurring patterns, specific to block-chain-based applications, can be modelled with BPMN and CMMN. Furthermore, the advantages and disadvantages of both notations for accurately representing blockchain-specific patterns are discussed.FindingsThe main finding of this paper is that neither BPMN nor CMMN can adequately and accurately represent certain patterns specific for blockchain-oriented processes. BPMN, while supporting most of the patterns, does not provide sufficient support to represent tokenization. CMMN, on the other hand, does not provide support to distinguish between activities executed and data stored on-chain versus off-chain.Originality/valueThe paper provides insight into the strengths and weaknesses of BPMN and CMMN for modelling processes to be supported by blockchain. This will serve to aid analysts to produce better process models for communication purposes and, thereby, facilitate development of blockchain-based solutions.

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