STRATEGIC DECISIONS IN THE TOURISM INDUSTRY BASED ON INTERNET DATA COLLECTION TECHNOLOGIES AND THEIR SPATIAL ANALYSIS

The paper offers a look the new opportunities that open up in management in the context of the development of information technology. The aim of the study is to highlight the benefits of using technologies for collecting big data and spatial statistics for making strategic decisions in the tourism industry. In the work, using the example of the ski resort “Abzakovo”, the technologies for collecting data on the Internet are shown, the spatial dependence of the data is assessed and conclusions are drawn that allow subsequent strategic decisions as to enterprises located in this territory. So are the government bodies interested in the development of this tourist zone. Thus, the analysis of the geography of the members of the “Abzakovo” group made it possible to single out a statistically significant spatial dependence of their age, which manifests itself in the neighborhood of the older members of the group near the resort. The results of the analysis of the rating of tourist infrastructure facilities in the area of the ski resort “Abzakovo” identified spatially related zones of low and high ratings.

ENVIRONMENTAL RISK MANAGEMENT ON THE ENTERPRISE TO REALIZE GREEN DEVELOPMENT

The environmental risk of an enterprise refers to the impact on the environment and possibility of accidents. In recent decades, the emerging industrial economies represented by BRICS countries have developed rapidly, which has inevitably led to increased pollution and deterioration of environmental quality in these countries. This chapter describes China, which has the fastest economic development among BRICS countries, as an example, and summarizes some evaluation and performance indicators of corporate environmental risk management, so as to facilitate the construction of a scientific and reasonable evaluation indicator system in our further research. The concluding paragraph briefly introduces several measures to reduce the environmental risks of industrial enterprises.

EFFICIENCY EVALUATION OF ACTIVITY OF THE RUSSIAN PUBLIC COMPANIES IN THE CONDITIONS OF ACTIVE REGULATION OF OPERATING COSTS AND EXTERNAL EFFECTS (SHOCKS)

The author considers influences of active regulation of operating costs and negative effects (shocks) on financial policy of the Russian public companies. The Russian firms make the choice for benefit of internal financing for the purpose of increase in the corporate benefit in the conditions of external financial restrictions (sectoral sanctions). Growth of the corporate benefit leads to increment of company assets and respectively to welfare of the shareholder. The Russian public companies will review the capital structure in the conditions of growth of adjustment costs. The active policy of the Russian companies is connected with availability of sufficient size of assets which are source of mortgage providing for regulation of capital structure. Thereby, the organization solves problem of adverse selection – financing source selection taking into account its price. The companies are forced to regulate actively the capital structure in the conditions of growth of operating costs and negative shocks. Regulation of capital structure is connected with the aspiration of the company to keep part of debt for its use as financing source. Operating costs are the indicator estimating efficiency of management decisions. The Russian companies will finance the investments, first of all, by internal financing sources. Cash flows are the resource servicing the investment capital. The firms will be attracted the loan capital in the period of deficit of cash flow. The Russian companies will work in logic of precautionary motive, creating monetary stock in the conditions of shocks. The precautionary motive is the protective buffer from negative impacts from the capital markets. Low values of cash flows allow to limit the management concerning his illegal behavior – decision making in private interests.

AN EMPIRICAL ANALYSIS OF THE BARRIERS OF TRANSITION FROM THE FOURTH INDUSTRIAL REVOLUTION TECHNOLOGIES PILOT PHASE TO WIDESPREAD ADOPTION

Nowadays business processes in industrial companies are undergoing significant changes under the influence of the trends of the fourth industrial revolution, and the pace and scale of the spread of digital technologies has significantly accelerated due to the coronavirus pandemic. The technological basis for the digital transformation of industrial companies is the industrial Internet of things, cloud computing and blockchain, the collection of big data and their subsequent analytics, machine learning technologies, digital twins, human-machine interaction, including virtual and augmented reality, robotics and automation.Even though the technologies of the fourth industrial revolution can transform the activities of enterprises and increase their efficiency, today most of the projects do not move from the pilot stage to widespread implementation in the company. The purpose of this study is to identify and assess the main barriers that impede the successful implementation of digital technology implementation projects.At the first stage of the study based on a review of domestic and foreign literature, as well as in-depth interviews with experts, groups of barriers were identified and verified that impede the implementation of digital technologies in industrial companies: economic and financial, managerial, competence, regulatory and technological barriers. Also, questionnaires were developed for the quantitative stage of the study.At the second stage of the study, a quantitative assessment of the strength of the influence of barriers was carried out. The barriers with the greatest influence are lack of funds, the need to attract large amounts of funding, and insufficient support from the organization’s management. According to the analysis, the least significant barriers for companies include the complexity of introducing new technologies and the need to change the company’s business model.At the end of the work, a list of proposals was developed to overcome the barriers to the transition from the stage of pilot implementation of technologies of the fourth industrial revolution to widespread implementation.

DIGITAL TWINS AND THEIR APPLIANCE IN TRANSPORT ECONOMICS

Today digitalization increasingly affects the economy, including the transport industry. The consequence of this is the emergence of digital twins that allow modeling and predicting the behavior of both individual processes and enterprises as a whole.The aim of the article is to investigate the process of digitalization in the transport industry. The theoretical basis of the article was the universal organizational science of A. Bogdanov.The article offers a definition of information, and its classification in relation to the economy at three levels: applied information (technological information), information about algorithms of the owners of factors production behavior (behavioral information) and information, with which the impact on the owners of production factors and the real economy in general (directive information). The totality of these levels of information from the macroeconomic point of view forms an information economy, and from the microeconomic point of view – a digital twin of a particular subject of the real economy.It is proved that the digital economy is a subsystem of the information economy, differs in a binary way of presenting information and is maximally oriented to the management of the real economy.Information precedes all activity, so the real economy is a product of the information economy. Consequently, the technological division of labor is based on a prior informational division of labor. This theoretically allows us to judge the adequacy of the digital twin through the analysis of individual technological levels of the transport enterprise. This hypothesis was applied to the analysis of the Russian railway transport, which gave reason to consider this approach promising for use at macro- and micro-levels both.

APPLICATION OF INNOVATIVE DIGITAL PRODUCTS IN SPORTS INDUSTRY

This article considers innovative solutions used in sports industry. Taking into account the importance for the consumer in the context of pandemic restrictions, as well as the presence of a large number of modern technological cases, the author focuses on fitness sector. The innovative solutions discussed in the study can be classified as follows: mobile apps; sensors; virtual reality. The analysis allowed the author to highlight the pros and cons of digitalization, determine the development trends of fitness industry, the specifics of its financial model and competitiveness. Despite the importance of automation, the author emphasizes the high role of “living” labor, the importance of which can be studied in further developments.

PANDEMIC (COVID-19) EFFECT ON FINANCIAL STATEMENTS: THE ROLE OF GOVERNMENT AND ORGANIZATIONS FOR FUTURE PREVENTION

COVID-19 pandemic period impedes business operations and world economic growth. This type of pandemic may happen again in the future. Hence, the objectives of the study are to find out the pandemic effect on items in financial statements; to predict the future effect on items in the financial statements, and to find out the role of government and organizations for future prevention of the adverse effects on financial statements due to the pandemic. The analysis is based on a large number of publicly available sources, including research papers, governmental documents, and reports. The study has taken 8 ratios compared with 80 listed companies around the globe. During the pandemic period the magnitude of adverse effect on business operations depends upon the decision and actions of external bodies (WHO, governments) and internal ones (organizations) parties. The findings revealed that the role of government and organizations for future prevention of ‘Pandemic Effect on Financial Statements’ is vital to defend against future pandemic situations. This study has added a new discussion to the body of knowledge, i.e. examining pandemic (COVID-19) effect on business operational activities and its financial statements; hence, an approach that is not widely discussed in the previous studies.

PROJECT SUCCESS AND INDIVIDUAL ENTREPRENEURIAL ORIENTATION OF PROJECT MANAGERS: RUSSIAN CONTEXT

Projects implemented in conditions of high uncertainty are sometimes called entrepreneurial projects. Success in such projects is more difficult to achieve. To successfully manage entrepreneurial projects, project managers should have entrepreneurial skills. The article explores two issues related to project success, entrepreneurial characteristics, and project uncertainty. First, the article tries to find out whether the increase in the entrepreneurial nature of the project, manifested in the increase in project goals and methods uncertainty, is accompanied by a decrease in project success. Second question is – does the entrepreneurial orientation of project managers affect project success and the relationship between the projects’ success and their entrepreneurial features. To answer these questions, data were collected from Russian project managers assessing the entrepreneurial nature of projects, project success and the individual entrepreneurial orientation of project-managers. The collected data were examined using factor and regression analysis. The findings indicate that there is a negative relationship between the entrepreneurial nature and such indicators of project success as internal efficiency, preparation for the future, and results for clients. Some indicators of success were positively associated with such indicators of entrepreneurial orientation as proactivity and risk taking. As uncertainty increased, some measures of individual entrepreneurial orientation of project managers can positively compensate negative impact on project success from uncertainty associated with projects’ entrepreneurial nature.

DIGITAL TRANSFORMATION OF COMPANIES AS A TOOL OF CRISIS MANAGEMENT: АN EMPIRICAL RESEARCH OF THE IMPACT ON EFFICIENCY

The economic crisis generated by the coronavirus pandemic has acted as an accelerator for the digital transformation of almost all economic entities, as a result of which it has become a massive phenomenon. However, this situation has shown that the practical development of digital transformation as a tool for business management in the digital economy requires its theoretical understanding, the formation of a theoretical basis and a scientific definition of the essence of digital transformation of companies. In particular, one of the key problems in the implementation of digital transformation at the present time is the assessment of its effectiveness, since in most cases it does not always end successfully. At the same time, knowledge of approaches and criteria for the effectiveness of digital transformation can improve the quality of its implementation. The purpose of the study is to study approaches to assessing the effectiveness of digital transformation, to determine its nature and essence at a theoretical level, as well as to conduct an econometric analysis of the contribution of digital transformation to achieving the company's efficiency.In the course of the study the existing approaches to defining the essence of digital transformation were studied, its key elements that make up the basis were established, and the existing approaches to assessing the effectiveness of digital transformation of a company and its impact on business efficiency were studied. The absence of a unified approach to assessing the effectiveness of digital transformation and the main reasons for this problem have been established. Based on the results of the regression analysis of a sample of the largest companies of the pre-digital era, implementing digital transformation, the formulated hypothesis about the impact of digital transformation on the short-term performance of the company (profitability) was refuted, which allowed us to assume the strategic nature of this tool, the results of which are formed over a lag of time.When writing the article, various scientific research methods were used: deduction and induction when conducting empirical analysis of the activities of companies implementing digital transformation, analytical methods and regression analysis.The obtained results of the study contribute to the development of the theory of assessing the effectiveness of digital transformation of business, anti-crisis management and determine the directions for further theoretical developments.

IN SEARCH OF EXCELLENCE IN SOCIAL ENTREPRENEURSHIP PROJECT MANAGEMENT: EXPERIENCE AND STANDARDS OF THE EUROPEAN UNION

The development of social entrepreneurship has required new effective management approaches and tools. The authors refer to European experience and standards in the field of project management in order to develop a methodological approach to organizing project management for achieving the outstanding results in social entrepreneurship projects.The article presents the results of the quasi-experiment aimed to identify differences in the achieved results among projects using the European PM2 methodology and projects carried out within the PMI methodology. The assessment technique developed by the authors is based on EFQM model.No significant difference among the project results in the experimental and control groups has been found, which indicates the importance of applying the project management methodology, regardless of its origin. By clustering project results, it was found that projects adapted the European methodology were more focused on strategic development and integration into the ecosystem on the principles of long-term cooperation, while the projects of the control group paid more attention to the effective organization and coordination of processes, resources and activities.