Research of the Ukraine light industry main market segments during the COVID-19 pandemic

This article aims to improve the theoretical and applied bases of activating the development of the light industry market in Ukraine by determining the factors that influence this process. Design / methodology / approach — In the article, authors use a set of scientific methods that ensured the conceptual integrity of the study, in particular: logic — to study the evolution of development of the light industry market; system аnd observation -to highlight the conceptual foundations of the light industry market; methods of dialectical reasoning, induction, deduction — to justify principles of development; statistical analysis — to study the peculiarities of the development of the light industry market in Ukraine (under the influence of the COVID pandemic — 19). The concept of sustainable development of the industry is adhered to in the work. Ukraine’s light industry is a multi-segment industry for the production of final consumer goods with rapid capital turnover. This industry has significant production potential in the process of meeting the domestic needs of consumers in non-food products. Nevertheless, the demand of the domestic market is predominantly met by imports. Only certain segments of light industry (for example, textile, etc.) have a promising growth in terms of entering foreign markets, but with a high share of tolling operations in Ukrainian exports. The light industry market needs to overcome the high dependence of imported raw materials; increase price competitiveness of domestic goods, reduction of illegal imports and shadow production of goods in the domestic market of light industry. The analysis of the influence of factors on the development of the light industry market revealed the following main trends in the industry: reduction of aggregate demand and production of goods (through consumers’ appeals to meet basic needs during the pandemic); consolidation of participants in the domestic market of light industry and exit from the market of weak counterparties; high dependence on world prices for raw materials, which has a low level of quality; growth of consignments of groupage cargoes; emergence of logistical and transport problems; deepening outsourcing in value chains; development of contactless delivery of goods to home; intensification of intra-industry competition and a significant share of the shadow sector; low productivity in the industry and shortage of qualified personnel. The industry needs to gain a highly competitive status through the production of high quality goods and increase supplies of products for export with a high share of value added, reduce the flow of used clothing, government support for the development of the sector. Prospects for the development of the sector are supported by the high adaptability of Ukrainian enterprises to changing market conditions, especially in the context of the COVID-19 pandemic. The development potential of the light industry market should be realized in terms of ensuring the competitiveness of Ukrainian products: by improving the quality of raw materials imports, improving the production structure, taking into account the innovative potential of the industry and the prospects for expanding the capacity of the light industry market, through the formation of industrial technology parks, clusters, vertically integrated structures with the involvement of representatives small and medium-sized businesses, as the most adaptable to the light industry market, as well as improving logistics chains for creating added value, a network of wholesale and branded trade, strengthening the marketing and logistics departments of light industry enterprises.

Conceptual principles of evaluation of competitiveness of the enterprise in the conditions of entry into new international markets

In today's market economy, competition is an important concept. Today, issues of competition and competitiveness are especially relevant due to the processes of globalization and intensification of competition between producers of goods and services. As a result, the question arises as to what makes one producer better than another and whether he is able to fully meet the needs of his consumer, thus ensuring his profit? Therefore, assessing the competitive advantages, production, personnel, technological and marketing capabilities of the enterprise, as well as identifying ways to improve them affect the competitiveness of the enterprise in both domestic and foreign markets, as well as the possibility of expanding into new markets. Assessing the competitiveness of the enterprise allows to determine its advantages and disadvantages in comparison with competitors, identify ways to improve it, strengthen the company's position in the national market and identify new target markets. The article provides a review of scientific literature, research and publications on the subject of research, describes the methods, their advantages and disadvantages for assessing the competitiveness of the enterprise in terms of entering new international markets. The stages, the sequence of which must be followed when assessing the competitiveness of enterprises, are summarized. The main indicators, factors, as well as some characteristics of the product that affect the competitiveness of enterprises are presented. It is established that for effective assessment of the competitiveness of the enterprise in terms of entering new international markets, it is advisable to use a set of several valuation methods using a certain sequence. The evaluation results influence the choice of strategy and forms of the company's entry into new international markets, market choice, sales policy, and also allows to effectively assess the company's performance and ability to respond quickly and effectively to external changes, make the right management decisions and take measures to improve competitiveness of the enterprise.

Peculiarities of choosing a strategy for development of domestic enterprises on the basis of analysis of strategic alternatives

The semantic load of the concept of "strategy" is analyzed, it is determined that the meaning of this term has changed over the last hundred years depending on the object and subject of research; The main three key concepts of strategy definition are considered, namely classical, conceptual and complex, which were singled out by Western scholars and which were partially supported by Ukrainian, as well as philosophical and organizational-managerial concept, which are singled out by purely domestic scientists. in organizations, as well as those that are due to the present, namely: change management, rapid response strategy, strategic alliances, customer relationship management system, mental aikido strategy and the strategy of the "Blue Ocean". To develop strategic alternatives, it is recommended to take into account the following information: the main activity of the company; mission and vision, values; financial indicators; production capacity; high-quality staff; technological and technical capabilities, etc. Based on the research, using methods of generalization, observation, comparison, recommended complex stages of choosing a company development strategy based on the formation of strategic alternatives, identified risks that strategy developers may encounter in implementing this process, which are often subjective and can be minimized when drawing up a risk management plan. These include a vague mission and vision of the company; insufficient level of competence of employees involved in the project development strategy of the company; a narrow set of tools used in the evaluation and selection of strategic alternatives; use of inaccurate information, information that has nothing to do with the choice of strategy, the choice of questionable sources of information and attitude to the process of choosing a strategy based on strategic alternatives as a formality, etc. The recommended stages of choosing a development strategy based on the formation of strategic alternatives will allow the company to take a more comprehensive approach to processing and analyzing information for alternatives, and if necessary to adjust the existing strategy or introduce additional, to have spare processed work in the portfolio.

The influence of factors on the security management of the foreign exchange market in Ukraine

The article analyzes the principles of development and security management of the foreign exchange market of Ukraine. Substantiates the influence of factors on the functioning of the foreign exchange market such as: improvement of the regulatory framework; monetary policy on the stabilization of the floating exchange rate regime; lending to the National Bank of Ukraine within the current 18-month stand-by program from the International Monetary Fund; replenishment of the market currency through the purchase and sale of government bonds; the influence of international and domestic factors on the liberalization of the foreign exchange market in Ukraine; receipt of a share of currency more than 10% of the population working abroad; restoring the confidence of individuals and entrepreneurs in the national currency. The structure and analysis of the process and dynamics of the foreign exchange market of Ukraine are characterized. The author evaluates the security management of currency regulation of the floating exchange rate regime, which directly affects the state of the foreign exchange market (Fig. 1). The state of exchange rate regulation and its impact on the foreign exchange market on the basis of personal observation during 2015-2021 are studied. The main advantage of this article is the clarification of the elements of the mechanism of currency regulation, which is due to the negative impact of a wide range of external and internal factors on the tools (Fig. 2). This mechanism is a powerful lever of state management of economic security and regulation of foreign exchange market liberalization in the context of a significant deterioration of the crisis situation in Ukraine in recent years. The main areas of security management of the mechanism of functioning of the foreign exchange market of Ukraine are the following. The first is optimization of the procedure of foreign exchange interventions of the NBU – schedule, parameters of interventions. This will increase the transparency and predictability of NBU operations in the foreign exchange market. NBU managers should abandon discriminatory approach to ensure all banks have equal access to interventions. The second is increasing of the digitization and disclosure of communication policies with actors. Its deterioration is due to negative comments addressed to banks regarding speculative actions on exchange rate formation, non-compliance with the requirements of the NBU in lending, security management and customer distrust. The third is strengthening of the reserve requirements for bank security management in order to reduce the excessive liquidity of the banking system.

Development of customs infrastructure on the Ukrainian –Polish border in the conditions of business internationalization

The relations between Ukraine and Poland represent a long history of partnership and have a great economic importance for both countries. At the present stage, Poland is one of the largest international trade partners of our country. In the history of Ukraine's foreign trade during 2019-2020, Poland occupied second place in the structure of domestic exports. Thus, in 2020 the share of exports of Ukrainian goods to Poland was 6.65%. First of all, it means a change in the vector of foreign trade development for the national economy and the reorientation of Ukraine's export market to the European Union. In 2020, Poland also occupied one of the leading positions in the structure of Ukrainian imports of goods (4th place with a share of 7.62%). This situation leads to a significant increase in the load at checkpoints and causes the need to ensure prompt and efficient customs clearance of goods moving across the Ukrainian-Polish border. On the basis of the performed researches, significant differences in the levels of development of the customs services of Poland and Ukraine in terms of the quality of customs services have been established, as Ukraine lags far behind Poland in all the studied indicators in this area. Such situation requires the improvement of the work of Ukrainian customs authorities in the context of business internationalization, including the development of customs infrastructure in the area of the Ukrainian-Polish border. The key problems of customs service of enterprises at domestic checkpoints include long and costly customs procedures, lack of proper technical, road, information infrastructure at checkpoints, outdated technical instruments of customs control, etc. It is proved that in the conditions of business internationalization one of the key tasks should be the construction of new checkpoints and the development of the customs infrastructure of the existing checkpoints. The key strategically important checkpoints in the area of the Ukrainian-Polish border, which need to be modernized in order to increase their capacity, include road checkpoints "Korchova-Krakivets", "Dorokhusk-Yagodyn", "Medyka-Shehyni", as well as a railway checkpoint "Medyka-Mostyska". In addition, the importance of spreading the practice of construction of joint checkpoints, which allows to significantly speed up the process of customs services for businesses, was emphasized.

Formation of information support for the development of freight transportation of JSC “Ukrzaliznytsya”

A methodical approach to the formation of indicators of the information base of management decisions on the development of freight JSC “Ukrzaliznytsia”, which consists in calculating the taxonomy of the level of development of freight by substantiating systems and its elements: eighteen static systems, elements of which are six regional railways; seven dynamic systems – regional branches and in general JSC “Ukrzaliznytsia”. A spatial and temporal comparison of the development of freight transportation of selected systems is carried out. The taxonomy index is calculated on the basis of five indicators of freight traffic for the period 2002-2019. The analysis of static systems made it possible to identify the uneven development of freight transportation of regional branches of JSC “Ukrzaliznytsia” for the studied 18 years. The temporal comparison of the levels of development of freight traffic by each railway in particular also showed their instability. Fluctuations are observed in the last three years of the study period. In 2018, JSC “Ukrzaliznytsia” demonstrated the lowest level of freight transportation development for the entire analyzed year 2002-2019. It was established that both external and internal factors caused the negative impact on rail transportation, in particular: the economic crisis of 2014-2015; military action in eastern Ukraine; ineffective management at different levels of government. The introduction of quarantine measures due to the COVID-19 pandemic caused unprofitable and deteriorating financial and economic performance of JSC Ukrzaliznytsia, and its six regional branches in 2020, in particular, revenues from freight transportation decreased by 10.3% compared to 2019, and net loss amounted to UAH 11.9 billion. Implementing the anti-crisis plan by the management of JSC Ukrzaliznytsia and the improvement of operational work in the freight segment has yielded some positive results. However, for the effective planning and management decisions in the field of freight transportation an important component is the proper formation of an information base. The proposed methodological approach will serve as an effective tool not only in the management of the freight segment of individual regional branches or enterprises in particular, but also the economic development of JSC “Ukrzaliznytsia” in general and can be used by other large companies.

Evaluation of the enterprise strategy by the game theory method

The choice of strategy ensures the formation of a certain option that provides a detailed analysis of situations that may arise in the future. As in the game, where each of the participants plans their actions, predicting the actions of other players and the general conditions of situations that may arise as a result of these actions. You should pay attention to the probability of committing players and the probability of a certain situation. It is clear that this is a prediction of a situation that has not yet occurred, but occurred in accordance with the probability of the strategy in the implementation of the actions of each of the participants associated with the risk. The application of the principles, methods and tools of game theory will make it possible to form a complete plan of action in all situations that are expected to occur. The developed action plan of the participants (players, subjects) in accordance with the whole set of situations and possible developments in them, forms a strategy. Game theory is based on the application by each participant of a single strategy, which is a certain algorithm of actions, not a list of them. Such an algorithm, due to its branches, should reflect the possibility of occurrence and development of events and situations. The article proposes methods of selecting and evaluating enterprise strategies through the application of game theory, which will take into account the strategies of competitors (other participants in the conflict situation) or the state of "nature", which embodies the environment of enterprises. The article considers the advantages and disadvantages of using game theory methods to evaluate enterprise strategies, classifies and compares the types of these methods to clarify the peculiarities of their application in certain situations, the peculiarities of the application of strategy selection criteria in this scope.

Peculiarities of innovative management in the activities of international companies

The article considers the role of innovation management in the enterprise on the experience of foreign companies. The essence of innovation management, its tasks and functions are substantiated. Innovation management - is one of the areas of strategic management, carried out at the highest level of the organization. Its purpose is to determine the main directions of production and scientific and technical activities of the enterprise. This is primarily the development and implementation of new technology and products, modernization and improvement of products and technology, further development of production of traditional products and withdrawal from production of obsolete products. Innovation management is characterized by goal setting and strategy selection, as well as four stages of the cycle: planning, setting conditions and organization, implementation, leadership. The allocation of functions in innovation management is due to the diversity of management activities in the chain idea - research - development - design - production - implementation of innovations. Under the functions of management means the type of activity that is necessary for the implementation of the general objectives of innovation management. On the example of foreign companies: Whirlpool, General Electric, DuPon, Visa the results of the introduction of innovation management are shown. The practice of the leading companies of the developed countries of the world shows that their success is connected with the development of a holistic system of innovation management, which is in constant and continuous development in accordance with changes in both the organization and the external environment. These companies create such an innovative structure and management culture in which the directions of innovative development are integrated into general strategic plans related to the constant development of promising new products and the creation of new business areas. Innovation management creates a long-term advantage if it meets one or more of three conditions: innovation is based on a new principle that challenges the orthodoxy of management; system innovation, covering a number of processes and methods; and this is part of the current program of the invention, where progress is combined with the passage of time.

Cash flow planning at the enterprise

Ensuring the efficiency of production and economic activities of the enterprise requires a constant turnover of funds and effective cash flow planning. The most important component that ensures the continuous operation of the company is cash receipts and expenditures, which show the current financial condition of enterprise, are used to cover production costs, as well as ensure the solvency of the enterprise and the ability to avoid financial debts to banks, government and other business entities. Cash flow planning for domestic enterprises is particularly acute. This manifested itself in the crisis created by the Kovid-19 pandemic. The presence of a financial cushion saved a number of companies from bankruptcy, however, the consequences of an unfinished pandemic are ahead. Therefore, given the above, the relevance of cash flow planning and the formation of basic concepts on this topic is undeniable. The task of the article is to identify the features of cash flow planning of the enterprise and build a clear sequence of this process. The article analyzes the definition of "cash flow", "cash flow planning" and provides a generalized definition of these concepts. The key types of cash flows that are present in the enterprise are given. The main external and internal factors that affect the cash flow of the enterprise are presented. The process of cash flow planning is carefully researched and the sequence of cash flow planning by types of production and economic activity is developed with clear detailing of each stage, where sources of income for enterprises from financial, investment and operational activities, expenses for the same activities and opportunities for optimization are sought. increase revenue and minimize costs. The article proposes the use of such cash flow planning tools as payment calendar, schedule, planned cash flow budget. So, the formation and planning of cash flows in enterprises in today's conditions is a necessary and important process. The success of the company's operation in domestic and foreign markets depends on the rationality of planning and use of funds in enterprises.

Features of implementation and development of circular economy in Ukraine

The article is devoted to the study of circular economy, its concept; the main circular business-models, their essence and advantages in the practical application based on the analysis of researches of their introduction and use in the world and domestic companies are analyzed; features of the development of circular economy in Ukraine in disclosure of researches of sources of financing of innovative activity and a share of innovative enterprises in general scale are revealed; the expediency of introduction of energy-efficient and energy-saving technologies at the enterprises within the limits of socially responsible production is substantiated. The results of the study showed that the development of the circular economy in Ukraine is at a much lower level compared to the world, due to negative factors such as ignorance of the population and entrepreneurs the necessity of circular economy transition, lack of full and perfect legislation, the unpreparedness of enterprises change in favor of environmental friendliness. However, it is still an enterprise that is ready to act and change by implementing environmental solutions, such as energy-efficient technologies, thus contributing to its competitive position. In the context of the need to move to a circular economy, scientists, politicians, businesses, consumers, public and international organizations are increasingly studying the basic principles and models, as well as their possible implementation and features of use. In addition, both domestic and international companies are trying to be socially responsible and implement energy-efficient technologies that reduce the consumption of energy resources, economic resources, increase the competitiveness of production. This means that both foreign and domestic companies, at the same time, must clearly understand the methods, ways, and opportunities to achieve the most competitive position as a socially responsible enterprise. Therefore, based on examples of implementation of methods and solutions in the field of circular economy in global companies, as well as using their experience, knowledge and skills, Ukrainian companies will be able to achieve at least the same level of social responsibility. However, it should be understood that these actions should be legally protected, which should serve as a regulatory framework developed by the state. Only with such bilateral work can Ukrainian enterprises and Ukraine in general become an example to follow for other countries.