A system of values and economic behaviour models of young entrepreneurs

Purpose The purpose of this paper is to investigate the relationship of values with individual economic behaviour, identifies the correlation between personality values that are conditioned upon the culture, and evaluations of economic behaviour situations on the example of Russian culture. Design/methodology/approach This study involved 222 people of Russian nationality, young entrepreneurs employed in the commercial field, developing their own business. The following methods were used in the study: the methodology for measuring the values of an individual and cultural level; Melbourne Decision Making Questionnaire, a scenario methodology for economic behaviour, which is a short behavioural scenario (model of behaviour), taken from real life. The statistical processing of experimental data was carried out using the IBM SPSS Statistics Version 21 software package. Findings The values with correlated progressive and regressive economic forms of behaviour were identified for modern Russian society. The correlation of factors with progressive and regressive economic behaviour was also identified. Practical implications The practical significance of the study lies in the possibility of applying the results obtained not only in the system of economic education but also in programs to support the business activity of young entrepreneurs. Originality/value The value of this study is determined by the fact that it can be placed in a broader context of research into the relationship between the levels of human consciousness and his behaviour.

The altruism and volunteering: aspects of interconnection in social behaviour

The article dwells upon the study of altruism as a special type of economic behaviour of society. The lack of a well-established approach to determine the role of altruism in economic relations and understand it as a phenomenon of economic behaviour that goes beyond the traditional concept of methodological individualism led to the formation of purpose and subject area of research. The article aims to clarify the economic essence of altruism and establish its impact on the expansion of volunteering in society. The subject of the study is the general principles and forms of altruistic behaviour, their compliance with the postulates of the economic theory of exchange and the impact on the formation of a general model of economic behaviour of society. General scientific research methods – theoretical generalisation, scientific abstraction, statistical observations (processing of secondary statistics), were used to obtain data. The economic essence of the category of altruism in the system of relations of exchange is specified based on systematisation of scientific approaches to the definition of the essence of altruism in economic and social research. It was found that altruism is one of the manifestations of the social type of economic behaviour, which occurs under the influence of social processes, the formation of civil society, increasing social responsibility. The authors defined socio-economic content of the altruistic volunteering as a form of economic behaviour shows its relationship with the charity. The place of Ukraine in the world rating of charity (World Giving Index) was investigated. The World Giving Index and the Human Development Index are compared. The paper reveals the existence of an interconnection between the Index of Charity (Giving Index) and the degree of inequality in the country (income, education, life expectancy) which is considered when determining the Human Development Index. The role of volunteering in the development of Ukrainian society is determined. Paper concludes that it is necessary to improve the state’s economic policy to provide support and expansion of the volunteering positive effect.

Economic Behaviour Strategies of the Northern Small-Numbered Indigenous Peoples and their Impact on Subjective Well-Being

Russian academic literature is characterised by a lack of data on the features of the economic behaviour of representatives of the indigenous small-numbered peoples of the North, Siberia, and the Far East of the Russian Federation (hereinafter referred to as ISNPN, the indigenous minorities). Nevertheless, economic, environmental, geopolitical, and social changes in the Arctic region of Russia make it extremely relevant to study the process of transformation of the economic behaviour of these peoples. The article presents the results of a study of the main strategies of economic behaviour of the indigenous peoples (Nenets, Dolgans, Itelmens, Koryaks, Nivkhs, Chukchi, and Evens) and the impact of these strategies on their subjective well-being. In this way, factor analysis made it possible to identify 4 factors that can be interpreted as independent strategies of the economic behaviour of the ISNPN: the saving strategy based on financial knowledge and activity; the strategy of independent financial achievements; the restrictive strategy in the economic sphere based on rationality and independence, and the strategy of hired labour. The article notes that the regression analysis demonstrated particular importance of the saving strategy based on financial knowledge and activity, which makes the greatest contribution to increasing subjective well-being of the indigenous peoples. It has been noted that a peculiarity of the economic behaviour of the ISNPN representatives is the predominance of an orientation towards savings and rationality in almost all identified strategies. The results of the study are summarised in the conclusion, and a deduction about the significant role of increasing financial literacy in improving subjective well-being of indigenous minorities is drawn

STRATEGIES AND REALITIES OF INTEGRATION OF DOMESTIC ENTERPRISES INTO THE INTERNATIONAL BUSINESS ENVIRONMENT

The article defines the essence, role and significance of economic strategies in the context of integrating domestic market agents into the international business environment. The main aspects of defining the concept of "strategy" are studied, and on this basis, the effects and phenomena that are implemented in the general economic theory are described and formalized. Based on the identification of the category of "strategy" in the context of various scientific approaches, the correctness of the author's research methodology is proven. The potential and main problems faced in the process of working up economic strategies for the development of integrated enterprises are identified, as well as the main threats posed to the evolution of market agents as a result of incorrect choice of strategic management tools are outlined. The categories of "strategy - economic behaviour" have been formalized following the author's concept, which outlines key similarities and differences. The main features of economic strategies are formed and generalized. It is emphasized that the international business environment is actively used by domestic integrated enterprises as a channel for removing financial resources outside the country. Particular attention is paid to the negative consequences of tax minimization, including the cases of reinvoicing (change in the price of goods) under the conditions of using non-resident companies. Emphasis is given to the main ways of stopping dysfunctional economic processes. It is established that from the point of view of the destructiveness of economic processes, the corresponding dysfunctions of strategy formation are a direct consequence of unjustified liberalization of the legislation. It is defined that the institutional environment itself is one of the key factors of ensuring the effectiveness and efficiency of undergoing a socio-economic change in the context of implementing strategies for the development of integrated enterprises. It is pointed out that the dysfunctions of economic reform, including the destructive models of economic behaviour of enterprises, have become, in fact, a natural consequence of thoughtless institutional changes.

Influence of Economic Benefits and Social Interaction on Buyer Participation in a Rural Retail Institution: Study of an Indian Periodic Market

Retail institutions offer economic and social benefits to the participants in a market. It is expected that in a less developed economy the social factors influence economic behaviour much more than in developed economies. The rural markets offer increased opportunities for the influence of social factors on economic transactions. This study examined the case of a rural periodic market. To ensure reliability the case study protocol questions reflected propositions developed on the research questions. It was expected that the participants would exhibit the influence of social relations in their market transactions. The results indicated that the economic benefits than social considerations influenced participant behaviour in the rural periodic market. Contrary to expectations not all consumers in a less developed economy exhibit social embeddedness in economic behaviour. Implications are for policymakers involved in planning and regulating rural markets. They need to take into consideration the differing behaviour of consumer groups in designing or regulating retail markets. This study examining the social embeddedness of buyer behaviour in the rural retail context of a less developed economy is presumably the first.

Intensification of Management of Economic Security of the Enterprise in the Post-Pandemic Space

Intensification of entrepreneurial activity in a post-pandemic space requires improved management both at the level of economic security and at the level of the entire enterprise. The expediency of the transition from the extensive type of development of the load management system is substantiated. The scientific approaches to the interpretation of the terms "intensification", "management" and "economic behaviour" are generalized. The attention is focused on the need to create a safe development environment for each enterprise. The expediency of interpreting the term “management intensification” as the influence of a managed subsystem on a managed one with the active use of new technologies and techniques, forms of labour organization, rational use, motivation and development to achieve the objectives is substantiated. The essence of the term “economic behaviour” is considered through the process of development and implementation of managerial decisions, which determine the interaction of the managing and managed subsystems with the subsequent change in the current state and development trends of the entire system. The tasks of security subjects regarding the emergence of new challenges, risks and threats in the face of intensified management of the economic behaviour of enterprises in the post-pandemic conditions of the existence of society are determined.

Enterprises’ strategies transformation in the real sector of the economy in the context of the COVID-19 pandemic

The article examines the impact of the COVID-19 pandemic on the content of key functional strategies of companies in the real sector of the economy. The purpose of the article is to assess the changes in the economic behaviour of companies in the context of the COVID-19 pandemic, to analyse business practices in adapting functional strategies to new risks, and to determine the directions for transforming functional strategies. An analysis of companies’ business practices showed that the pandemic had a significant impact on the economic behaviour of companies, transforming not only their tactics, but also their strategy. The functional strategies of the companies have undergone significant changes - marketing, production, personnel management strategies. The transformation of the marketing sphere is due to new trends in the sphere of consumption that have arisen as a result of the introduction of restrictive measures by states. The changed conditions of production activities necessitated accelerated digitalization and robotization of production, restructuring of supply chains and determined the need for the formation of innovative production strategies that meet the conditions of the Industry 4.0 era. The strategy and tactics of personnel management of companies are adapting to the conditions of the epidemic using a remote work format, digitalization of processes and tasks, and the use of new approaches in management. Based on the results of the study, the authors concluded that the pandemic has highlighted problems in the ability of companies to learn quickly in a rapidly changing environment. Today, the surviving companies are those that have been able to best adapt to unforeseen threats. For them, the coronavirus pandemic is not the cause of the crisis, but a turning point and a unique opportunity to develop in a highly competitive environment.

THE NATURE OF THE ECONOMIC PROCESS

Background. Today there are questions that need to be answered, namely: what is the "uncertainty" in the discourse of economic theory and how to take it into account in our economic strategies and processes; how moral and ethical norms can affect our understanding and practice of formation and implementation of economic processes. Analysis of recent researches and publications. The studies of D. North, F. Knight, I. Prigozhin, and E. Laslo are devoted to the problem of uncertainty of economic processes, in which uncertainty is considered in the ontological aspect. Fundamental studies of moral and ethical norms of economic development were carried out by S. Bowles, J. Rawls and A. Sen etс. The aim of the article is to clarify the causal and axiological contexts of the economic process. Materials and methods. The works of native and foreign specialists were the materials of the research. General scientific research methods such as historical, analysis, synthesis and abstraction have been used in the article. Results. Uncertainty is inherent in a market economy and its processes. It is argued that the economic process is nonlinear, its outcome is probabilistic, and may be uncertain. Human economic behaviour is mainly determined by institutions, especially within the economic process. It is proved that there is an organic connection between neoclassical and behavioural theoretical concepts of human economic behaviour. The difference in appro­aches lies in the levels of generalization of the object and subject of research. The moral and ethical context of the economic process can be taken into account in the models of the economic process, but only as an imperative of "economic justice". The algorithm of finding a "fair solution" involves the approximation of the state of coordination of interests to equilibrium. Conclusion. It is necessary to continue researching the problems of causality of the economic process, which will contribute to the validity of forecasts. The moral and ethical context of the economic process requires expansion of the concept of its effectiveness and the development of modeling methods. Keywords: economic process, evolution, intentionality, uncertainty, institutions, economic behaviour, moral and ethical content, justice.