The economic effects of the COVID-19 pandemic on the polish economy

The date of the end of the COVID-19 pandemic is difficult to forecast. Apart from the undoubted humanitarian and social consequences, its development and spread will also contribute to changes in the economy. This paper describes the economic effects of the COVID-19 pandemic for the Polish economy. Depending on the way the pandemic will develop, the Organization for Cooperation and Economic Development predicts that the Gross Domestic Product in Poland will drop by -7.4%, and will rebound to 4.8% by the end of 2021. It is also assumed a broad-based recovery with GDP rebounding by 2.4% in 2021. The COVID-19 pandemic had a negative impact on the labor market in Poland. It is assumed that the Polish economy has been affected less by the effects of the pandemic than other European countries. The coronavirus pandemic contributed to significant changes in the organization of work, that is, an increase in the percentage of people doing a household work. Humankind has already learned how to overcome global crises, but their burdens have never been evenly distributed. Losses and threats bring new chances and opportunities. In line with the Pareto principle, it is stated that even if 80 percent of people suffer losses due to the COVID-19 pandemic, the remaining 20 percent of them will ultimately benefit from it. The aim of this article is to analyze the economic effects of the coronavirus pandemic in Poland and to present the most affected industries. In the opinion of the authors of the study, this issue should be described in greater detail.

Performance Improvement on Some Closed Loop Plastic Recycling Plants

This research focuses on pertinent parameters to improve the performance of four plastic recycling plants. The method used in this work is the overall equipment effectiveness (OEE) analysis. After assessing data collected and comparing calculated values with global accepted standards, there was need to optimize the OEE value of 74.40% for plant P48mold which was below the universally accepted value of 85% and for plant P72mold which is exactly 85%. Optimization toolbox is used to select values for cycle time ranging between 0.75min and 0.73min to improve the calculated value of 74.40% for plant P48mold and 85% for plant P72mold. Optimizing the OEE values significantly increases production by making the operation cost-effective. The OEE value was obtained by multiplying the three factors of availability rate, performance rate and quality rate and optimized values of 87% for P48 mould and 115% for P72 mould were obtained respectively. The cycle time was used to optimize the performance of both plants, which improved the OEE values. These values proved that change in cycle time can improve OEE. A Pareto principle 80/20 rule was also used to proactively check the effects of the planned and unplanned downtime. Keywords: Throughput, Efficiency, Overall Equipment Effectiveness, Cycle time. Cite the Article: Davids S. O., Sodiki J. I., and Isaac O. E. (2021) Performance Improvement on Some Closed Loop Plastic Recycling Plants. Journal of Newviews in Engineering and Technology (JNET),

BANK LENDING OF COMMERCIAL REAL ESTATE

Background. Banks’ proposals of loans for commercial real estate services have some differences in standard and non-standard terms of their provision. Instead, most clients focus only on standard loan terms and only some of them on non-standard ones. A comprehensive approach to the simultaneous consideration of standard and non-standard conditions for obtaining a loan for commercial real estate has not been developed in modern theory and practice of banking, which should be the basic basis for the borrower’s decision in choosing of the lending bank. The aim of the article is to identify current trends in the development of bank lending for commercial real estate in Ukraine, as well as the economic justification of the borrower’s choice of bank in the process of making a decision to obtain a loan. Materials and methods. Method of generalization and historical method were applied in the study of trends in lending for the acquisition, construction, repair, reconstruction of commercial real estate; methods of analysis and synthesis were used in the diagnosis of standard and non-standard conditions of credit servicing of commercial real estate. The authors provide an analysis ofthe choice of the bank to obtain a loan based on an integrated assessment of its attractiveness to the client using system approach. Results. A methodical approach to the integrated assessment of the economic attracttiveness of a bank loan for commercial real estate services has been developed. It is based on the Pareto principle, according to which standard lending conditions are taken into account in 80% and 20% is non-standard. This methodological approach allows the borrower to make an informed management decision on the correct choice of the lending bank. Conclusion. Loans for commercial real estate services, except the warehouse real estate sector, have decreased due to the COVID-19 pandemic. Demand for construction loans and repair of warehouses remained relatively stable. The practical approbation of the offered methodical approach of a complex estimation of credit offers of the most active Ukrainian banks on an example of the enterprise which planned to receive the credit for repair of the warehouse real estate is carried out. The choice of the creditor bank is substantiated according to the calculations results. Keywords: pandemic, banks, commercial real estate, lending, grant element, Pareto principle, standard and non-standard lending conditions, integrated assessment.

Revisiting the logistics approach in the inbound tourism industry

Subject. This article deals with the issues related to international tourism and Russian inbound tourism. Objectives. The article aims to identify the possibilities of using logistics techniques for analyzing the tourism market. Methods. For the study, I used techniques used in logistics, namely, Pareto principle, break-even analysis, supplier rating assessment, and the economic order quantity model. The logistics techniques are adapted for the analysis of inbound tourism. Conclusions. Logistics techniques help assess the representativeness of tourist flows from different countries, focus on the more significant ones among them, and determine the attractiveness of provincial tourist centers and the optimal tourist flow to the resort. Adapting logistics techniques for the analysis of tourism markets can contribute to the optimization of Russian inbound tourism.

Why So Much Consensus?

An even more holistic approach to the problem is adopted by looking at how collective decision-making impacts the choices and characteristics of individual agents, e.g. their shareholdings, their beliefs about economic prospects, or even their preferences. The thesis is that individual characteristics shape collective choices and are at the same time shaped by them, forming a duality between persons and groups. The analysis is deployed on the network of affiliation of investors to firms. Indeed, suppose the Pareto principle holds at both the collective and individual levels, then a full agreement between all agents occurs within a cluster of investors and firms, despite potentially severe market failures—the ‘single thought’ theorem. Efficiency results from the endogeneity of individual characteristics, yet the theorem is strikingly strong and clear-cut. An analysis of what it takes for the Pareto principle to hold is proposed in each of the three contexts of market failure.

Making a Virtue of Necessity

The Pareto principle can be read as a positive hypothesis, reconciling theory with reality, or as a normative hypothesis, standing for a behavior that might be nudged or not, depending on the desirability of its consequences. The behavioral underpinnings of the Pareto principle are reviewed, together with its ethical foundations. In particular, the thesis of adaptive preferences is critically examined, and an axiomatic characterization of such preferences is proposed. Their likeliness is explored in light of the duality between persons and groups, a classic notion of theoretical sociology. Finally, a contribution to the reflection on group agency and corporate social responsibility is provided. It is argued that environmental and social responsibility can emerge from collective decision-making of selfish individuals depending on the governance adopted.

A New Approach for Allocating a New Party's Budget during an Election Campaign

During pre-election campaigns, parties make great efforts to persuade constituents to vote for them. Usually, new parties have smaller budgets and fewer resources than veteran parties. Generally, the more heterogeneous the party’s electorate, the more critical the issue of resource allocation. This paper presents a method for new parties to efficiently allocate campaign advertising resources and maximise voters. The model developed uses the Pareto principle and multi-criteria approach, integrating the party’s confidential data together with official open-to-all data. We implemented the model on a specific new party during the intensive political period before the April 2019 elections in Israel, finding that the model produced clear and unbiased results, and this made it effective and user-friendly for strategy teams and campaign managers.

VERIFICATION OF THE PARETO PRINCIPLE FOR INCOME FROM SCIENTIFIC ACTIVITY OF HIGHER EDUCATION INSTITUTIONS OF UKRAINE

The purpose of the article is to verify the Pareto principle in terms of revenues to the special fund of higher education institutions of Ukraine based on the results of scientific and scientific-technical work on international cooperation projects, scientific and scientific-technical work under economic agreements and scientific services. With the help of ABC-analysis of indicators of income from scientific activity, domestic higher education institutions are divided into three groups: A – higher education institutions with a large amount of income from scientific activities; B – higher education institutions with an average level of commercialization of scientific activity; C – higher education institutions with little or no income from research. It was obtained that group A included 29 (19,595 %) higher education institutions of Ukraine, which in 2016–2018 provided paid scientific services in the amount of UAH 739,747 million (79,39 % of the total). Group B was formed by 34 (22,973 %) domestic higher education institutions, whose scientific activity in the analyzed period brought income in the amount of UAH 147,954 million (15,88 % of the total). Group C included 85 (57,432 %) Ukrainian higher education institutions, which earned UAH 44,082 million (4,73 % of the total) as a result of their scientific work. It was found that the Pareto principle 20/80 was reflected in the activities of higher education institutions in Ukraine. Strategies for commercialization of research results for domestic higher education institutions from each group are proposed: group A – leader’s strategy; group B – the applicant’s strategy; group C – strategy of the beginner.