scholarly journals Some Aspects of Improving the Profit Management of Energy Companies in Ukraine

2019 ◽  
pp. 130-148
Author(s):  
Alla Krushynska ◽  
Yana Buchkovska
Keyword(s):  
Internal Control ◽  
Management System ◽  
Business Processes ◽  
Profit Sharing ◽  
Incentive Regulation ◽  
Information Support ◽  
Management Approach ◽  
Financial Decisions ◽  
Main Components ◽  
Economic Stabilization

The article investigates the system of enterprise profit management with the identification of the main components of this process. There is dedicated profit generation by activity, profit sharing and organization-methodological component, which includes organizational and information support, systems and methods of analysis, planning and internal control of profit. A comprehensive substantiation of the theoretical foundations of the enterprise profit management system provides sufficient basis for the study of the actual practical aspects of the enterprise profit management process of the energy complex. It is researched that the profit management at the enterprise is carried out according to the basic directions of activity taking into account the business processes according to the organizational structure, which is divided into directories and it is proposed to manage the distribution and use of the profit of the enterprise in stages, guided by the management approach according to the profit centres. Centre managers would be able to make and implement financial decisions on their own, control the revenue and expenditure of the centres concerned, generate revenue that would determine the effectiveness of their operations. It is revealed that the state of the grids and power equipment of the enterprise needs additional power for electricity consumers and requires significant investments that can be attracted only if incentive regulation is implemented and the need to adjust the regulatory rate of return on regulatory asset bases — 0.05 relative units (for the base created at the date of transition to incentive regulation) and 0.17 (for the base created after the transition to incentive regulation). It is also proposed to extend the base of regulatory period, whereby the tariff is initially set at 3 years, then at 5, and then can reach 8 years, which will contribute to economic stabilization for the enterprise and consumers. The proposed measures will improve both the qualitative and quantitative parameters of the enterprise profit management system.

An integrated process-based approach to intellectual capital management

2020 ◽  
Vol 26 (7) ◽  
pp. 1833-1850
Author(s):  
Oksana Lentjušenkova ◽  
Inga Lapiņa
Keyword(s):  
Development Strategy ◽  
Intellectual Capital ◽  
Management System ◽  
Business Processes ◽  
Integrated Management ◽  
The Other ◽  
Management Approach ◽  
Content Type ◽  
Stakeholder Interests ◽  
The Impact

PurposeNowadays, the aspects of the intellectual capital (IC) management have become important, valuing it as an integral part of the organisation. Researchers emphasise the strategic importance of IC management, particularly in the context of satisfying the stakeholders' interests and value creation. However, the existing studies reflect individual elements of IC management, not analysing them as a system which is a part of the organisational management system, and hence it is impossible to draw valid conclusions on the impact of IC on the organisation's performance. The aim of the paper is to describe an approach to the elaboration of the IC management strategy and its integration into the organisation's management system.Design/methodology/approachThe developed approach is based on a holistic and systemic view of the organisation, where IC management is integrated into the organisation's management . This approach is based on the structure of IC developed by Lentjušenkova and Lapina (2016). In this structure, business processes are the IC component that unites the other three ones – human capital, technologies and intangible assets. The study has used induction and deduction, as well as analytical and synthetic qualitative research methods, including logical constructive and conceptual (concept) analysis.FindingsElaborating the organisational strategy by taking into account the stakeholder interests, the organisation is able to ensure sustainable development. Using the integrated management approach, IC management is integrated into the organisation's activities and joint operational strategy. In this case, IC management becomes an integral part of the organisation's activities functioning in conjunction with the other organisation's systems, and it is integrated into all ongoing business processes.Research limitations/implicationsThe approach the authors have proposed to IC management could be adapted by small and medium-sized companies. Using it, companies do not need to create special functional units or division, because IC becomes an integral part of organisation's processes.Originality/valueIn previous studies, business processes were considered as one of the components of IC. In the study’s approach, business processes imply integration of IC into the overall organisation management system. As a framework for the proposed approach, the authors have used the Deming cycle “Plan-Do-Check-Act” that envisages dividing the development and implementation of the IC management and development strategy into four phases, with a clear allocation of tasks and a defined outcome for each individual phase. To use this approach, it is enough for organisations to conduct an analysis of processes and, depending on the strategic goals of the organisation, make additions related to managing IC.

scholarly journals Model of the Information System for Management of Logistics Processes in the Food Industry

2021 ◽  
Vol 19 (3) ◽  
pp. 65-73
Author(s):  
G. A. Blagodatsky ◽  
◽  
M. M. Gorokhov ◽  
D. E. Dokuchaev ◽  
L. G. Saetova ◽  
...  
Keyword(s):  
Management System ◽  
Business Processes ◽  
Raw Materials ◽  
Emergency Situation ◽  
Information Management System ◽  
Transport Infrastructure ◽  
Information Support ◽  
Production Plan ◽  
Feedback Information ◽  
Manufacturing Defects

The information management system for bakery serial production is presented. The object system is the technical means for the release and delivery of products to consumers, a range of products, a production plan (formed by the demand for products), a set of points of sale of products, and a graph of transport infrastructure. The capabilities of the warehouses of the system are limited, raw and other materials are perishable (storage periods are calculated in days), the number of delivery vehicles to the points of sale is small (<3), the needs of consumers are low (single demand for products), the number of points of sale is large (≈102), the shelf life is short (2-3 days). The controlled variable is the function U (t) - the ratio of the volume of weekly delivered product (taking into account the return of unsold products and volume of manufacturing defects) to the delivery cost. The control system is tasked with maintaining the maximum possible level of the function U. An algorithm for solving the problem of maximizing the function U is proposed, which consists in the following: 1) determine the maximum production plan, 2) determine the minimum delivery plan (monitoring the implementation of production and transportation plans gives feedback in the form of volumes of products that have not passed quality control Qb and have not been delivered to consumers QR), 3) feedback information is used to adjust production and transportation plans by applying man-machine decision-making procedures. To solve this problem, automation is required through the development and implementation of specialized software. A systematic approach to the development of information support involves the analysis of business processes of the enterprise. The critical processes to ensure the continued operation of the system are: "Supply of raw materials for production" and "Delivery of finished products to consumers". The task of ensuring timely replenishment of the warehouse is solved by the implementation of a supplier management system (SCM). The task of ensuring the delivery of finished products is solved by finding the optimal transportation plan. An adaptation of the algorithm for solving the problem of products transportation is presented. An algorithm for handling an emergency situation with the redistribution of cargo in the event of a vehicle breakdown during a voyage has been formalized.

Creating a resilient management system delivering a flexible foundation for growth in an energy organisation

2017 ◽  
Vol 57 (2) ◽  
pp. 393
Author(s):  
Sunny Barlow
Keyword(s):  
Management System ◽  
Business Processes ◽  
Oil And Gas ◽  
Integrated Management ◽  
Integrated Control ◽  
Management Systems ◽  
Management Approach ◽  
Strategic Objectives ◽  
Integrated Management System ◽  
Industry Standards

Many organisations find it challenging to effectively integrate separate internal management systems and processes into one cohesive framework that supports organisational strategy. A management system is a framework of policies, processes and procedures developed to ensure an organisation can complete the tasks necessary to achieve its strategic objectives. International and industry standards typically take a functional view of management systems, often resulting in silos of information. In addition, inefficient and isolated safety, environmental, process safety, risk, compliance and quality management systems cost time and money, and can increase the likelihood of safety incidents in critical development and production environments. To support Woodside’s vision to be a global leader in upstream oil and gas, Woodside needed to establish a common approach to how it operates, wherever the location, and develop a strong foundation to support its strategic objectives. Woodside recently undertook an internally led company-wide project to renew its Woodside Management System (WMS) to improve integration between disparate functionally based management systems and capture the way we work more effectively. As part of the project, Woodside took the opportunity to redesign its WMS framework and streamline its processes and procedures by simplifying and removing duplicate or redundant existing information. Through the project, Woodside developed a single integrated management system that is independent of organisational structure and closely linked to our vision. The integrated control framework created within the WMS supports conformance to process and forms the foundation of assurance activities across the entire company. The WMS integrates a hierarchy of business processes, focused upon value stream activities, and clearly defines operational processes and activities. This paper discusses the objectives and outcomes of the project, some challenges during implementation and the change management approach to develop the culture and behaviours to drive continuous improvement and unlock the benefits of an integrated management system.

scholarly journals DEVELOPMENT OF THEORETICAL BASIS OF THE INTERIOR CONTROL OF ENTERPRISE FINANCIAL RESULTS

2020 ◽  
Vol 15 (3) ◽  
pp. 99-106
Author(s):  
Alsu Zakirova ◽  
Guzaliya Klychova ◽  
Angelina Dyatlova ◽  
Al'fiya Yusupova ◽  
Ildus Gimadiev
Keyword(s):  
Control System ◽  
Internal Control ◽  
Management System ◽  
Agricultural Sector ◽  
Control Process ◽  
Information Support ◽  
Effective Management ◽  
Economic Activities ◽  
Management Decisions ◽  
Internal Control System

The presence or absence of an efficiently functioning internal control system at an enterprise has a significant impact on the success of business development, increasing competitiveness, developing an information system, improving the quality of accounting and analytical support for the enterprise management system. Internal control is the basis for effective management of enterprises in the agricultural sector of the economy. In this case, the following basic conditions must be met: the activities of the enterprise must comply with the adopted strategy and mission; it is necessary to ensure the financial and economic stability of the enterprise; primary information should contribute to successful leadership and effective management decisions. With the help of the internal control system, directions for improving the financial and economic activities of the enterprise are determined, procedures are determined that allow maximizing profits, and rational distribution of costs is ensured. To develop the theoretical foundations of internal control, the article proposes a conceptual model of the internal control system for financial results. An effectively functioning organizational model of internal control includes a set of goals, objectives, principles, subjects, objects, tools, standards of internal control, its regulatory and information support, documenting the control process, information support of the management system, and making effective management decisions. The toolkit for internal control of financial results is a complex mechanism that integrates and coordinates specific tools (methods) for the formation of information support for the management system. The results of research can be used to create and improve the internal control system aimed at ensuring the efficient and continuous operation of the enterprise; conceptual provisions can be applied in the development of regulations, methods and procedures for internal control.

scholarly journals Trends of Forming the Accounting and Analytical Management System in the Digital Economy

2019 ◽  
pp. 5
Author(s):  
Serhii Hushko ◽  
Volodymyr Kulishov ◽  
Yaroslav Izmaylov ◽  
Rasa Subačienė
Keyword(s):  
Development Strategy ◽  
Internal Control ◽  
Management System ◽  
National Level ◽  
Digital Economy ◽  
Accounting Systems ◽  
Economic Relations ◽  
Jel Code ◽  
Main Components ◽  
And Control

Recent trends of overall digitalisation challenges to find new approaches and improvement of information formation systems in different spheres. The trends also make impact on the tendency to develop common stereotypes of methods, accounting procedures, reporting forms, etc. which may be called identification. The identification of accounting systems in its essence - is the solution to the problem of harmonization of accounting at the international level. However, it is impossible to achieve complete identification. Everything that is done in this direction at the national level by accounting systems (standardization of reporting, convergence of national rules with international ones, convergence of evaluation and control systems, etc.) indicates a progressive trend in the processes of identification and harmonization of accounting systems. The purpose of the research is to evaluate the trends of forming the accounting and analytical management system in the digital economy. The research methods are comparison, systematisation and summarisation of information. Thus the main components of the accounting organization have been defined, among them: the technique of organizing and conducting accounting; methodological support of accounting and internal control. There is a need for generalization of modern achievements for the construction of the AAMS, the development of the company's development strategy in the light of work peculiarities in the digital economy. Authors identified, that there is a modification of the existing and emergence of modern requirements and tasks for the organization of accounting due to a focus on new users, transformation of motives and requests of all interested in the accounting information participants of international economic relations. Moreover, further improvement of the AAMS organization will enable to increase efficiency and raise productivity of economic activity. JEL code: M40

scholarly journals OBJECTS OF INTERNAL CONTROL IN SHIPPING COMPANIES

2020 ◽  
pp. 100-104
Author(s):  
Vera V. Krainova
Keyword(s):  
Control Systems ◽  
Internal Control ◽  
Management System ◽  
Business Processes ◽  
Important Task ◽  
Management Process ◽  
Shipping Company ◽  
Management Function ◽  
Multi Level

Effective internal control is essential for successful operations and management of shipping companies. For its implementation, the most important task is to determine the objects of internal control, that is, the scope of its application. Internal control, as a management function, is aimed at solving management problems, therefore, in the author's opinion, objects of management and objects of internal control are identical. Based on the analysis of the approaches of various authors to the choice of management objects, the author's approach has been developed, taking into account the interaction of all elements of the management system, the multidimensional and multi-level nature of management process, and branch features of shipping business. A classification of objects of internal control in shipping companies has been developed with the allocation of such objects as resources, business processes, results of functioning, management decisions. The disclosure of the content of these objects shows that internal control covers all levels of the shipping company, including both the managed and the control systems.

scholarly journals OUTSOURCING IN THE ENTERPRISE MANAGEMENT SYSTEM

2020 ◽  
pp. 83-93
Author(s):  
Tetiana DANYLIUK ◽  
Аnna MOKHNIUK
Keyword(s):  
Management System ◽  
Business Processes ◽  
Business Management ◽  
Operation Time ◽  
Enterprise Management ◽  
Management Approach ◽  
Management Tools ◽  
Reducing Costs ◽  
Enterprise Management System ◽  
Management Functions

Doing business in a competitive environment is based on the fact that the efficient use of enterprise resources is impossible without making relevant changes in the field of business management as well as taking into consideration the links that determine new trends in enterprise management. In this situation high management technologies such as outsourcing take a pride of place. Outsourcing is important in reducing costs, decreasing operation time, increasing profits, enhancing competitiveness, signing up contracts, improving business relationships and etc. Paying significant attention to outsourcing in business management is an urgent problem nowadays. It is necessary to determine the importance of outsourcing in the strategic activities of the enterprise and highlight the correlation among management functions and certain types of outsourcing services. This confirms the significance and the necessity of studying this question. A category of outsourcing as one of the most effective management tools for increasing the efficiency of business processes is considered in this article. The scientists’ statements about outsourcing as successful business management strategy as well as an efficient tool for managing the activities of the enterprise are presented. The importance of business processes outsourcing in the field of business management is investigated. The directions of defining the concept of “outsourcing” within the framework of the management approach considering the representation of understanding its nature are studied. The outsourcing of basic and auxiliary functions with the distribution of business processes at the enterprise is distinguished. Types of outsourcing according to business processes within each management function such as planning, organization, motivation, control and regulation are considered. The relationship among the functions of the enterprise management system, the types of outsourcing and the types of enterprise business processes is demonstrated. The main processes that the company plans to improve as a result of their outsourcing are highlighted. The significance of business processes outsourcing as a part of the company’s crisis program is clarified.

Effective outsourcing

2020 ◽  
Author(s):  
Nadezhda Rodinova ◽  
Vladimir Ostrouhov ◽  
Vladimir Bereznyakovsky ◽  
Irina Petrova
Keyword(s):  
Management System ◽  
Business Processes ◽  
Management Decisions ◽  
Economic Mechanism ◽  
Use Of Resources ◽  
Operational Management

The tutorial is aimed at the problems of using outsourcing as a factor of the reorganization of business processes of an enterprise to achieve efficient use of resources and competitiveness of the enterprise. The article reveals the organizational and economic mechanism for making management decisions on the transfer of individual business processes of enterprises to outsourcing, which contributes to their operational management in the management system.

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