Change Management and Innovation

INNOVATIVE PERSONNEL DEVELOPMENT AS A RESPONSE TO WARTIME LABOR MARKET CHALLENGES

Mykhailo Dreichuk — 2025-05-28

The article explores conceptual approaches to the innovative development of personnel as a strategic and adaptive response to the transformations occurring in the labor market under the influence of wartime disruptions. The relevance of the study is driven by the growing instability of the socio-economic environment, where traditional human resource management (HRM) models often appear insufficient in responding to multidimensional challenges. The focus is placed on the need to develop new instruments of analysis that account for not only organizational performance and workforce engagement but also broader risk-related and knowledge-driven dynamics. The author proposes a methodological framework for assessing the state of HR systems through three interconnected analytical dimensions: risk exposure, operational efficiency, and the degree of intellectualization of human resource processes. Each dimension is represented by a set of conditional indicators designed to capture various aspects of organizational resilience and human capital capacity. This structured approach enables the quantitative evaluation of external and internal threats (including economic volatility, social destabilization, and administrative dysfunction), while also measuring workforce productivity, adaptability, and digital readiness. The indicator system presented in the article does not aim to substitute existing HR strategies but rather to enhance them with an additional analytical layer that supports decision-making in high-uncertainty contexts. Special attention is given to the identification of innovation-driven personnel development trajectories, such as the implementation of microlearning solutions, the development of soft skills, the introduction of automated HR systems, and the promotion of a continuous learning culture. These elements are positioned as crucial components for maintaining organizational competitiveness and social cohesion in times of systemic disruption. The methodology developed in the study may be used as a basis for strategic HR diagnostics, policy modeling, and scenario planning. It contributes to the theoretical and practical advancement of flexible, adaptive, and knowledge-oriented approaches to personnel management, offering tools for increasing the sustainability of human capital in crisis conditions and beyond. This conceptual contribution is intended to support further research and experimentation in the field of HR analytics, particularly within the framework of national resilience and post-crisis recovery.

BIG DATA ANALYTICS IN SHIPBUILDING: ECONOMIC CONTENT AND PROCESS SEQUENCE

Оlena Zhukova — 2025-05-28

The article presents the authors’ perspective on the critical role that big data analytics plays in the post-war recovery of shipbuilding enterprises in Ukraine. It is emphasized that the execution of key management functions necessarily involves analytical activity, which covers all segments of the value chain for products or services, as well as the components of the managerial decision-making process. The study outlines the subject area of economic analysis in this context, focusing on business activity. The purpose of the analysis is defined as the comparison of planned and actual performance indicators and the identification of factors that have contributed to positive or negative deviations. Particular attention is paid to the importance of big data analytics. The article proposes criteria for qualifying the volumes of data available to management as big data. Evidence is provided of the continuous growth in data generation, along with examples of its sources. A graphical model of the big data analysis process is proposed, accompanied by a concise description of each of its stages. It is highlighted that big data analytics is a cyclically recurring activity that evolves through the use of ever-advancing hardware and software tools. In recent years, artificial intelligence has taken a leading role among them. The hypothesis is advanced that the emergence of AI is a response to the challenges caused by the exponential growth of data volumes. The article identifies the key barriers hindering the implementation of big data analytics in shipbuilding enterprises, including a lack of professional competencies among personnel, resistance to innovation from certain employee groups, high costs of software and technical tools, and ongoing expenses for maintaining the necessary corporate infrastructure. Based on an analysis of best practices among leading industry organizations, the authors conclude that these challenges are best addressed by those enterprises that have established long-term and effective cooperation with foreign investors. Emulating this experience should become a priority for all stakeholders interested in the revitalization of Ukraine’s shipbuilding industry.

COMMUNICATIONS IN THE ACTIVITIES OF HOSPITALITY INDUSTRY ENTITIES: MODERN APPROACHES

Tetiana Zubekhina — 2025-05-28

The article presents a comprehensive analysis of modern approaches to organizing the communication process in the hospitality industry, which is one of the most dynamic and customer-oriented sectors of the contemporary economy. Given the increasing competition in the Ukrainian market and the growing consumer demands for service quality, hospitality enterprises are compelled to actively implement effective communication strategies tailored to the needs of their target audience. At the core of the study lies the marketing mix concept "4P" (Product, Price, Place, Promotion), which is considered the foundation of a strategic approach to building marketing communications in the hospitality sector. The study analyzes the practical application of each element of the "4P" model in the hotel and restaurant business. It is demonstrated that the product in the hospitality sector is not merely a set of tangible services, but the creation of a unique emotional experience for the client. Pricing is determined not only by costs but also by the perceived value of the services. The place factor includes both the physical location and accessibility through digital platforms. Promotion is presented as a multi-component system that integrates both traditional and innovative communication tools. The "4P" concept is examined in correlation with the quality of a company’s communication with its consumers. Particular attention is paid to identifying the main characteristics of the communication process in the hospitality industry: personalized customer approach, two-way communication, the importance of non-verbal cues, multi-channel interaction, cultural adaptability, and emotional richness of the interaction. It is emphasized that successful communication has the power to create a positive customer experience, which is a decisive factor in building loyalty and encouraging repeat visits. The article also highlights key technological tools currently used by hospitality enterprises to ensure effective interaction with clients. These include CRM systems, online platforms and mobile applications, chatbots, email marketing, social media, reputation management systems, and voice assistants. Each tool is analyzed in terms of its functional purpose and business benefits. Significant emphasis is placed on the importance of both external and internal communication. Internal communication is viewed as the foundation for cohesive teamwork, high staff motivation, responsiveness, and service quality. Meanwhile, external communication serves as a tool for shaping a positive image, managing reputation, and attracting new clients. It is established that effective interaction between these two types of communication ensures the sustainable development of the enterprise and its competitiveness in the market.

FORMATION AND MOTIVATION OF INNOVATION LEADERSHIP IN INNOVATION ECOSYSTEMS

Аndrii Karpenko — 2025-05-28

In the context of global competition, dynamic digitalization, and the growing role of knowledge in generating added value, innovation leadership is emerging as a key driver of long-term economic development. However, innovation leadership is no longer limited to technological advantage or the volume of R&D investment. Increasingly, it is defined as a country’s ability to create a favorable environment for generating and commercializing innovations, mobilizing human potential, building trust, fostering partnerships, and ensuring systemic cooperation within an innovation ecosystem. Particular importance in this process is attached to the cluster-based model of organizing innovation activities, which strengthens inter-institutional interaction, activates local resources, and enables the achievement of synergistic effects. The purpose of this article is to conduct a theoretical and methodological analysis of the processes of forming and motivating innovation leadership in the context of modern innovation ecosystems, to identify key determinants, approaches, and tools for stimulating innovation activity, and to substantiate opportunities for adapting effective models to the Ukrainian context. The research methodology is based on an interdisciplinary approach, systems and ecosystem analysis, institutional and comparative analytical methods, as well as elements of taxonomic generalization. The study draws on materials from the OECD, WIPO, European Commission, World Bank, and the works of leading scholars. The article analyzes various approaches to interpreting innovation leadership at the national level. It establishes that innovation leadership derives from the effectiveness of the innovation ecosystem, which functions as a complex network of interconnected actors—business, science, government, and civil society. The study shows that critical elements of such ecosystems include trust, a culture of collaboration, innovation motivation, and openness to external sources of knowledge. Special attention is paid to the cluster approach as a means of organizing economic interaction that ensures a synergistic effect through the joint use of intellectual, informational, financial, and organizational resources. It is also determined that in wartime conditions, it is critically important for Ukraine to develop its own models of innovation leadership based on the advancement of human capital, digital infrastructure, and partnership-based ecosystems. Innovation leadership in the 21st century is shaped at the intersection of strategic innovation management, the development of innovation culture, and an effective institutional environment. Key roles in this process are played not only by the state and large corporations but also by universities, SMEs, innovation clusters, partnership networks, and collaboration platforms. For Ukraine, a crucial condition for moving closer to the group of innovation leaders is the implementation of a systemic policy to support cluster development, stimulate innovation activity, and build a favorable environment for open innovation and cross-sectoral cooperation. The approaches proposed in the article can serve as a foundation for developing innovation development strategies at both national and regional levels.

METHODOLOGICAL PRINCIPLES FOR ASSESSING THE INNOVATIVE DEVELOPMENT OF INDUSTRIAL ENTERPRISES: AN ANALYTICAL-CONTROLLING APPROACH

Olga Maslak — 2025-05-28

The article develops and scientifically substantiates methodological principles for assessing the innovative development of industrial enterprises based on an analytical-controlling approach. The role of innovation potential as a system-forming factor in the strategic renewal of the industrial sector under dynamic external conditions is revealed. A comprehensive model of innovation potential is proposed, integrating both resource and intensifying components, including: research base, production and technical infrastructure, financial and investment resources, managerial capacity, human capital, market adaptability, and innovation culture. Based on statistical data from Form No. 1-Innovation, three groups of indicators were formed to characterize a company’s innovative capacity, technological readiness, and market adaptability. It is determined that the integral indicator serves as the final result of the assessment, providing a compact and systematic representation of the state of innovative development and acting as a tool for strategic controlling. The concept of controlling innovative development is substantiated as an integrated system of analytics, monitoring, and managerial support for the strategic development process of industrial enterprises. This enables a timely response to external changes, enhances the effectiveness of innovation activities, and ensures the sustainable functioning of enterprises in a competitive environment. The research results are of practical significance for improving the strategic management of innovative development in Ukrainian industrial enterprises under the current need to restore national economic potential by forming an integrated evaluation system that combines analytical and controlling tools with strategic planning mechanisms. This provides a holistic view of innovation potential, timely identification of problem areas, adaptation of management decisions to external changes, and increased competitiveness of enterprises in the post-crisis period.

THE USE OF FUTURES CONTRACTS IN THE FORMATION OF CORN PRICES ON INTERNATIONAL ORGANIZED COMMODITY MARKETS

Andrii Maslo — 2025-05-28

The article defines the economic essence of corn futures contracts on organized commodity markets and outlines their role and place in the formation of transparent and competitive pricing. Given that Ukraine is one of the leading exporters of agricultural products, the relevance of studying international exchange trading in corn futures contracts is increasing, especially considering seasonality, the consequences of war, climate change, as well as other fundamental factors at the global level. The main functions of corn futures contracts on international organized commodity markets are summarized: competitive pricing on the world corn market; management of price risks or their minimization through the use of futures contracts in hedging strategies; attraction of investment capital in speculative transactions with corn futures contracts; forecasting of price conditions on over-the-counter (spot) corn markets; information openness and access to futures quotes. It is noted that corn futures contracts are traded exclusively on the world's leading commodity exchanges. The peculiarity of futures contracts is the presence of a mechanism for guaranteeing the execution of transactions through the parameters standardization these futures contracts. A comparative assessment of the corn futures contracts specifications on international exchanges, namely: the CME Group and the European exchange EURONEXT, is carried out. An economic assessment of the main indicators of the world corn balance formation is provided, namely: the dynamics of production, sown areas, ending stocks, which are important fundamental factors in the formation and forecasting of corn futures prices. An assessment of the volumes of concluded corn futures contracts indicates the dynamics of growth in the last ten years. A structural analysis was carried out by geographical zoning of international corn futures trade. The presence of significant price volatility of corn futures prices in recent years is determined and the main trends in the development of exchange trading in corn futures contracts on international organized commodity markets are given.

CANTILLION EFFECT, JOSEPH SCHUMPETTER'S THEORY OF ECONOMIC DEVELOPMENT AND THE IMPACT OF INNOVATION ON WELFARE

Mykola Skliarenko — 2025-05-28

The article considers the problems of the impact of innovation activity on indicators of economic development and economic welfare. In the economic literature, innovation is mainly defined as one of the key factors of economic growth and increasing of productivity. However, there are a number of separate studies that indicate some negative consequences of innovation activity. But they do not have a general theoretical basis. Hence, the article analyzed the possible consequences of the impact of innovation activity on the state of market equilibrium. The approach used is based on the definition and classification of innovations according to the concept proposed by Schumpeter's development theory. The one mathematical model based on an approach to creating new value, known as the Cantillon effect, is proposed using analysis using the Irving Fisher’s formula. The second and third models focus on endogenous growth factors. The third model can also be used to assess the value of new knowledge. Therefore, applying a price premium as a bonus for invention and teaching other members of the community new knowledge is a completely justified mechanism for society to reward the inventor for introducing innovations. In general, mathematical models are considered that can provide a more specific theoretical explanation of the impact of various types of innovations on changes in the general equilibrium and economic welfare indicators. The possible social consequences of using the processes of "creative destruction" are also outlined. The consequences for the economy may differ somewhat in a market or command economy. The considered models show that in real economic processes the power of the agent making the decision in a command-and-administrative system or the results of accumulated past labor (capital) and the position of their managers (agents, creditors) in a market system are more decisive. Therefore, the decisive factor is not the choice of consumers and their preferences at all, as economic theory suggests.

ASSESSMENT OF THE ECONOMIC EFFICIENCY OF THE USE OF FIXED PRODUCTION ASSETS OF A METALLURGICAL ENTERPRISE

Liliya Taratuta — 2025-05-28

The structure of the groups of fixed production assets of metallurgical enterprises includes: buildings and structures, machinery and equipment, vehicles, land plots, and other fixed production assets. The active part of these assets includes machinery and equipment that are directly involved in production. Increasing the active share of fixed production assets and improving the efficiency of their use will increase output and reduce their cost. The article is devoted to the influence’s assessment of production and non-production factors on the economic efficiency of fixed assets exploitation. The authors systematized the main traditional methods of economic analysis of fixed assets for a metallurgical enterprise. The author substantiates the need to develop a system of estimated multipliers for the use of fixed assets and to separate from them the active part of machinery and equipment used in the main production. The author's own model of factor analysis of the impact of multipliers on the generalizing indicators of efficiency of use of fixed production assets is proposed. A model of factor analysis of the influence of multipliers on general indicators of the efficiency of fixed assets exploitation is implemented. Within the author's methodological approach to assessing the economic efficiency of fixed assets exploitation for a metallurgical enterprise, the use of nine indicative multipliers is proposed with compiling an analytical model of the influence of production and non-production factors on the fixed-asset turnover. The practical significance of the work lies in the generalization of the influence of maintenance and repair costs on the efficiency of the production machines and equipment exploitation, as a component of the fixed assets of metallurgical enterprises. The implementation of technical and economic models in the process of assessing the efficiency of machinery and equipment use will increase the understanding of the intensity and extent of their use. Such an analysis will make it possible to influence costs that depend on important factors of an intensive or extensive nature.

AGRICULTURAL ENTREPRENEURSHIP IN WAR CONDITIONS: ASSESSMENT OF DEVELOPMENT AND COMPETITIVE ADVANTAGES

Inna Tomashuk — 2025-05-28

The article examines the current state and features of the development of rural entrepreneurship under martial law in Ukraine. The relevance of the study is due to the growing role of the agricultural sector in ensuring the economic and food security of the state in conditions of armed conflict. Particular attention is paid to the impact of military actions on the functioning of business entities in rural areas, in particular on their economic stability, logistical capabilities, financial accessibility and personnel security. The study carried out a detailed analysis of regional data, in particular, on the example of Vinnytsia region, where changes in the structure and dynamics of rural entrepreneurship under the influence of martial law were analyzed. It revealed how regional enterprises adapt to new conditions, and their competitive advantages arising from changes in market conditions and logistics chains were assessed. Based on the collected data, the main problems faced by entrepreneurs were identified, in particular, a decrease in production capacity, a decrease in the volume of sown areas, difficulties with personnel and instability of demand. A SWOT analysis of the impact of martial law on the economy of rural areas was conducted, which shows weaknesses due to the destruction of infrastructure and a decrease in production, opportunities due to business diversification and the use of local resources, threats from instability and limited access to markets, as well as strengths in the form of high potential for restoring food security and local self-sufficiency. A PEST analysis of the impact of martial law on the economy of rural areas was conducted, which shows how political, economic, social and technological changes caused by the war negatively affect the agricultural sector, infrastructure, employment levels and overall development of these territories. Approaches to assessing the competitive advantages of rural enterprises, taking into account the crisis conditions of management, are proposed, and potential areas of adaptation and development of rural business at the stage of post-war recovery are considered.

ANALYSIS OF THE RESULTS OF RATING ASSESSMENT OF THE STATE OF INVESTMENT CLIMATE MANAGEMENT IN THE NATIONAL ECONOMY: CURRENT CHALLENGES AND STRATEGIC PROSPECTS

Pavlo Fisunenko — 2025-05-28

The article is devoted to the analysis of the results of the rating assessment of the state of investment climate management in the economy of Ukraine in the current conditions of a full-scale military invasion and the determination of strategic prospects for improving the state of the investment climate of the national economic system in the conditions of revitalization. To implement the established goal of the scientific research, the following methods were used: analysis and synthesis – to study the essence of the investment climate; comparative analysis – to compare the rating positions of Ukraine with other countries of the world; statistical analysis; prognostic method – to assess the prospects for the development of the investment climate of Ukraine, in particular in the context of revitalization and integration into the European economic space. The study allowed us to formulate substantiated proposals for rating the state of investment climate management in the national economy. The analysis shows that institutional reforms aimed at improving the investment climate are key to ensuring economic stability and development. The main barriers to attracting investment have been identified, including a high level of risks due to military actions, imperfect infrastructure and instability of legislation. Promising directions for the development of the investment climate have been identified, in particular the introduction of special economic zones, infrastructure development, cooperation with international financial organizations and ensuring investment risk insurance. The study allowed us to formulate substantiated proposals regarding the state of investment climate of Ukraine, which is defined as a set of problems and opportunities that arise in the conditions of the transformation period. To create a favorable environment, it is necessary to implement systemic reforms that cover institutional, legal and economic aspects. The prospects for improving the investment climate depend on the state’s ability to ensure stability, transparency and predictability of business conditions. Only in this case will Ukraine be able to become an attractive platform for domestic and foreign investments, contributing to sustainable economic development.

FORMATION OF A NEW PARADIGM OF FOOD SECURITY ASSURANCE IN THE STATE REGULATION SYSTEM

Andrii Shynkovych — 2025-05-28

The article outlines the current state and problems of food security in Ukraine, in particular, it is noted that today, the modern world is faced with numerous challenges, such as global economic crises, climate change, population growth, depletion of natural resources, active digitalization of the economic landscape, which significantly affect the agricultural sector and food security, which requires fundamentally new approaches to the formation of a paradigm of food security assurance in the system of state regulation. The essence and content of the concept of "paradigm" are clarified, the need to develop a new paradigm of food security assurance in the system of state regulation is argued, which should be comprehensive, harmonious, include modern technologies and innovative solutions to overcome the challenges facing the global food system, and it is determined how it should differ from traditional approaches. The main principles and key components of the new paradigm of food security assurance in the state regulation system are established, which will not only help to respond to acute challenges in a timely manner, but will also contribute to the formation of a sustainable and effective food security system that meets the needs of state regulation, society and the environment. It is emphasized that the formation of the paradigm of food security assurance in the state regulation system according to new approaches and conceptual principles is a complex, multifaceted hierarchical dynamic process and the stages of this process are revealed. The factors influencing the process of forming the paradigm of food security assurance in the state regulation system according to new approaches and conceptual principles are characterized and it is noted that the new paradigm has both significant advantages and challenges that require attention and strategic initiatives and decisions. It was emphasized that the formation of a paradigm of food security assurance in the system of state regulation based on new approaches and conceptual principles will have significant value for the state, society, enterprises and the population and will become the basis for sustainable development, economic stability and social justice and equality, which are important aspects for all participants.

THE ROLE OF TAXES IN ENSURING THE FINANCIAL STABILITY OF THE STATE IN THE CONDITIONS OF MARTIAL LAW

Yevgen Maslennikov — 2025-05-28

The article examines taxes as a key tool for generating state budget revenues, especially under martial law. The analysis includes defining the essence of taxes, their functions, the concept of the tax system and taxation system, and also identifies the main functions of taxes that become a priority during extraordinary circumstances. It is established that martial law causes unprecedented pressure on state finances, requiring the prompt mobilization of resources for defense needs, infrastructure restoration, ensuring social protection of the population, and the stable functioning of state institutions. At the same time, the efficiency of tax collection and distribution is complicated by the shadowing of business, the destruction of economic ties, and large-scale migration processes, which creates an imbalance between fiscal needs and the capabilities of the tax system. The study revealed both positive and negative aspects of the current tax policy that require further improvement. The need for its adaptation to the realities of martial law through the implementation of a set of reforms is emphasized. Recommendations have been formulated, in particular, on reducing the tax burden on business, introducing a tax on withdrawn capital instead of a profit tax, optimizing tax administration and strengthening anti-corruption measures in the fiscal sphere. The proposed changes are aimed at forming a stable, transparent and adaptive tax system that can ensure effective budget filling without suppressing economic activity, promote investment attraction and support economic growth under martial law.

FLEXIBILITY OF THE DIVIDEND POLICY AS A TOOL TO STABILISE FINANCES IN A CRISIS

Vyacheslav Hovras — 2025-05-28

The article explores the strategic importance of dividend policy as a key component of profit management under crisis conditions, with a particular focus on the wartime economy in Ukraine. In an environment characterized by macroeconomic instability, declining profitability, disrupted supply chains, and limited access to external financing, enterprises face the urgent need to adapt financial strategies, including the distribution of net profits. The research emphasizes the critical role of dividend policy flexibility in ensuring financial resilience and supporting long-term corporate sustainability. Based on the analysis of financial reporting data from Ukrainian joint-stock companies for the period 2020–2024, the study identifies a marked trend toward the reduction or complete suspension of dividend payments. This shift is primarily driven by the need to retain internal funds for operational continuity, reinvestment, and crisis management during the full-scale war. While traditionally dividend payments are viewed as a mechanism for enhancing shareholder value, current circumstances necessitate their reconsideration in favor of capital preservation and reinvestment. The article classifies and examines major models of flexible dividend policy, including residual, stable, and hybrid approaches. The implementation of adaptive models enables enterprises to adjust the scope and structure of dividend payouts depending on actual financial outcomes, liquidity levels, capital investment plans, and macroeconomic constraints. The research highlights that, in wartime, maintaining dividend payments is no longer a priority for most companies; rather, transparent communication with stakeholders and a strategic framework for future resumption of payouts have become central elements of dividend policy. Furthermore, the study underscores the need for businesses to integrate scenario analysis, digital financial tools, and data-driven decision-making processes into the dividend policy formation. Such integration supports evidence-based management and enhances the adaptability of financial strategies in rapidly changing environments. The research also explores how dividend policy affects investor confidence, corporate reputation, and access to capital markets during and after the crisis. In conclusion, the article argues that dividend policy should be viewed not merely as a mechanism of profit distribution, but as a flexible strategic tool that contributes to financial stability, investor relations, and long-term value creation. The development of an adaptive, transparent, and forward-looking dividend policy is essential for Ukrainian enterprises operating under the current wartime conditions and striving to remain competitive in the post-crisis economy.

DIGITAL TRANSFORMATION OF FINANCIAL INSTRUMENTS OF NON-BANKING INSTITUTIONS AS A FACTOR IN THE POST-WAR RECOVERY OF UKRAINE

Hanna Kolomiets — 2025-05-28

This article examines the transformation of financial instruments used by non-bank financial institutions (NBFIs) in Ukraine amid the accelerated digitalization of the national economy. The relevance of the research stems from the need to modernize the non-banking financial sector in light of global technological trends, increasing demands for accessible and transparent financial services, and the strategic challenges of Ukraine’s post-war economic recovery. The study outlines the role of digital financial technologies (FinTech) as a key driver of innovation, process optimization, and expansion of financial inclusion. The widespread implementation of internet-based and mobile platforms has substantially reshaped financial service delivery, enabling greater access for previously underserved populations and enterprises. The article analyzes theoretical and empirical approaches to the classification and development of digital financial instruments, including digital payments, electronic money, cryptocurrencies, online lending, and crowdfunding mechanisms. It emphasizes the core attributes of financial innovation–technological novelty, user orientation, regulatory compliance, and inclusiveness–as critical components of the digital financial environment. A particular focus is given to the role of the National Bank of Ukraine and the “Cashless Economy” initiative in fostering a regulatory infrastructure conducive to digital finance. Additionally, the research highlights the increasing cyber risks and the growing importance of cyber insurance in the operations of NBFIs, which often lack sufficient resources for independent risk assessment and protection. The proliferation of alternative finance platforms, such as peer-to-peer and peer-to-business lending, is considered as a promising solution for improving MSMEs’ access to capital. The findings suggest that digital transformation in the non-bank sector not only enhances institutional efficiency but also contributes to building economic resilience, transparency, and investment appeal in the context of Ukraine’s post-conflict reconstruction.

COMPREHENSIVE VALUATION OF THE ENTERPRISE AS A FACTOR IN THE FORMATION OF ITS MARKET CAPITALISATION

Viktor Koreniak — 2025-05-28

In the context of increasing economic volatility, digitalization of business processes, and global market competitiveness, accurate and strategically meaningful business valuation has become a critical task for both investors and company management. This article examines the conceptual foundations of a complementary approach to enterprise valuation, which integrates various methodological tools into a single interdisciplinary analytical framework. Unlike traditional models that rely on isolated valuation methods, the complementary approach emphasizes the functional synergy between financial, strategic, digital, and non-financial components of value creation. The study provides a structured classification of contemporary valuation approaches, including discounted cash flow (DCF), economic value added (EVA), and market multiples as part of the financial assessment base. These are enriched by a strategic-innovative layer, which involves tools such as SWOT analysis, Balanced Scorecard (BSC), and key performance indicators (KPIs) to evaluate the long-term growth potential and transformation capabilities of a company. Special attention is given to ESG integration, highlighting the importance of environmental, social, and governance factors in shaping corporate reputation, investment attractiveness, and sustainable development. The model also includes a digital assets module, accounting for platform value, data ownership, and algorithmic resources that increasingly define modern business models. An additional crisis resilience component enables the assessment of the enterprise’s adaptability to external shocks using scenario-based modeling and historical case analyses. The proposed complementary model strengthens the analytical value of enterprise valuation and enhances its relevance for capital markets, especially in the context of forming and sustaining market capitalization. The findings offer a practical framework for decision-makers, corporate analysts, and financial strategists seeking to implement comprehensive and forward-looking valuation practices.

FINANCIAL SUSTAINABILITY OF AN INSURANCE COMPANY IN THE CONTEXT OF CURRENT CHALLENGES

Oleh Malashchuk — 2025-05-28

The article explores the theoretical and practical dimensions of ensuring financial stability within insurance companies in the context of contemporary economic and geopolitical challenges, particularly those arising from the ongoing military aggression against Ukraine. The authors highlight the crucial role of the insurance sector as an integral component of the national financial system, which performs vital functions in financial intermediation, resource accumulation, investment activity, and the protection of the socio-economic interests of the population. The study provides a comprehensive analysis of the impact of martial law and wartime disruptions on the operational and financial indicators of domestic insurers, including the volume of gross premiums, reserve adequacy, and the evolution of insurance product structures. It reveals that since the beginning of the full-scale war, Ukrainian insurers have faced declining revenues, increased claim ratios, loss of insurable interest in high-risk regions, and challenges in reserve formation. Despite these constraints, the article emphasizes the sector’s partial adaptability, particularly through digitalization and regulatory simplifications initiated by the National Bank of Ukraine. The authors identify several critical threats to the financial sustainability of the insurance market in the post-war period. These include weakened capitalization, reduced demand for long-term insurance products, regulatory uncertainty, the risk of insurer insolvency, and the erosion of public trust. Strategic directions for market recovery are outlined, such as the expansion of digital services, innovation in insurance product development, improved risk management systems, enhanced customer communication, and public-private cooperation. Ultimately, the study argues that increasing financial resilience is not only essential for the stable functioning of individual insurance companies but also for strengthening the broader architecture of economic security in Ukraine. The restoration and growth of the insurance market require a comprehensive policy approach that integrates modern financial practices, regulatory stability, digital transformation, and institutional trust-building. The authors conclude that such a systemic strategy is key to ensuring the long-term viability and competitiveness of the Ukrainian insurance industry in the aftermath of crisis conditions.

THE SYSTEM OF FINANCING UKRAINIAN HIGHER EDUCATION INSTITUTIONS: EFFICIENCY OF RESOURCE USE AND CHALLENGES

Oksana Pysarchuk — 2025-05-28

The article provides a thorough analysis of the system of financing higher education institutions (HEIs) in Ukraine, focusing on the efficiency of use of budgetary and extra-budgetary resources in the context of current socio-economic challenges. The purpose of the study is to provide a comprehensive scientific assessment of the efficiency of the system of financing higher education institutions in Ukraine in the current conditions, to identify regional imbalances in the distribution of financial resources, to analyze the impact of the indicative tuition fee on the formation of small academic groups, and to develop conceptual approaches to improving the sustainability of financial support for higher education. The research methodology is based on the use of economic and mathematical tools, in particular, correlation analysis methods, which allowed to quantify the strength and direction of the relationship between the level of indicative tuition fees by region and the share of students enrolled in small academic groups. Additionally, the methods of statistical analysis of the data of the 2023-2024 admission campaigns, structural and comparative analysis were used to identify regional differences and features of the functioning of educational networks in the context of demographic and socio-economic factors. The results show a systematic increase in the share of small groups, which reflects the inefficiency of the distribution of state order and the deterioration of the quality of education due to insufficient funding. The correlation analysis revealed a weak inverse relationship between the indicative cost and the proportion of small groups, which indicates the dominance of other factors, confirms the multifactorial nature of the problem and requires a comprehensive approach to its solution. It is found that the level of indicative value alone is not a determining factor in the formation of small groups, and the problem is exacerbated mainly by demographic changes, regional economic depression, security risks and changes in the educational priorities of students. It has been established that small groups, despite the potential benefits of individualized learning, suffer from limited funding, which reduces the quality of training and their competitiveness in the labor market. The practical significance of the obtained results lies in the substantiation of the need to introduce regionally differentiated approaches to financing higher education institutions, improve the mechanism of distribution of the state order, taking into account qualitative and quantitative indicators, as well as develop adaptive models of state support for small but strategically important specialties. The proposed conclusions and recommendations can serve as a basis for the formation of new policies in the field of higher education financing aimed at ensuring the sustainability of the educational system in the context of demographic challenges and socio-economic transformations.

IMPROVING THE EFFICIENCY OF FINANCIAL MANAGEMENT AND PROFITABILITY OF PRIVATE HIGHER EDUCATION INSTITUTIONS: A DIAGNOSTIC ASPECT

Mariia Pshenychna — 2025-05-28

The article discusses the tools for improving the diagnostics of the financial condition and profit management in private educational institutions on the example of the University of Ukraine. The monitoring of the situation in the field of higher education in the country is carried out to assess competitive trends between the subjects of state and private ownership. The importance of ensuring a systematic approach to the management of financial resources of educational institutions to ensure the stability and efficiency of their functioning in the context of modern economic challenges is proved. The financial indicators of a comprehensive assessment of the financial condition of a private higher education institution are structured. Based on the analysis of the practical experience of the University of ‘Ukraine’, the main directions of financial management used to manage the financial resources and profit of a private educational institution are allocated. The content of the following processes is detailed: management of formation of financial resources, management of internal turnover of financial resources, management of distribution of financial resources in the financial management system. Particular attention is paid to the analysis of the European practice of financial management in private higher education institutions, in particular, to the diversification of funding sources through the development of fundraising and the creation of endowment funds. Practical tools for implementing an effective endowment fund management system in Ukrainian private higher education institutions are proposed, including the development of an investment policy, the use of international reporting standards, the introduction of CRM systems for fundraising and the creation of advisory boards for the fund. The importance of combining financial diagnostics, profit controlling and innovative fundraising tools to ensure financial sustainability and increase the competitiveness of private higher education institutions in Ukraine is emphasised. The results of the study can be used to develop practical recommendations for strengthening the financial stability and profitability of private higher education institutions in the context of global competition in the market of educational services.

THE ROLE OF EMOTIONAL INTELLIGENCE IN PERSONNEL MANAGEMENT AND ENSURING THE COMPETITIVENESS OF AN ENTERPRISE

Nataliia Andrushkevych — 2025-05-28

Recently, there has been a growing interest in the development of emotional intelligence, since the ability to control one’s own emotions, recognize the feelings of others, and predict their behavior is an important condition for successful interaction both in private life and in the professional sphere. In today's highly competitive environment, companies are increasingly looking for not only professionally trained employees, but also those who are able to communicate effectively, adapt to changes and maintain a positive atmosphere in the team. Employees with high EQ cope better with emotional challenges, are less likely to get into conflicts, and are able to remain constructive during stressful situations. This directly affects labor productivity, the quality of customer service and the company's overall image in the market. For managers, emotional intelligence is an important tool for making managerial decisions. Thanks to a deeper understanding of the emotional state of the team, the needs of employees and the characteristics of collective dynamics, a manager can not only prevent internal crises, but also build a cohesive team focused on achieving common goals. This approach creates a high level of trust, which increases staff involvement and motivation. The article examines emotional intelligence as a strategic resource of modern management. Its key components – self-awareness, self-regulation, empathy, and communication skills – and their impact on management effectiveness are studied. It is emphasized that the development of emotional intelligence contributes to the formation of a strong corporate culture, reducing conflict, increasing productivity, and increasing staff motivation. Techniques for improving emotional literacy are highlighted, including introspection, active listening, developing empathy, stress management, and communication practices. The role of emotional intelligence in conflict resolution is considered using management cases as an example. The conclusion is made about the need for conscious management of emotions to increase the effectiveness of the manager and achieve business results.

INFRASTRUCTURE FOR ENTREPRENEURSHIP SUPPORT IN GERMANY: INSTITUTIONAL COMPLEMENTARITY AS A BENCHMARK FOR UKRAINE

Dmytro Antoniuk — 2025-05-28

The purpose of this study is to identify the key elements of institutional complementarity in Germany’s entrepreneurial support infrastructure and to assess the potential for adapting these elements to Ukraine’s context amid post-war recovery. The research methodology is based on a qualitative approach, involving 23 semi-structured interviews with representatives of 18 entrepreneurial support institutions, including chambers of commerce, business development agencies, incubators, accelerators, consulting companies, educational centers, and scientific organizations. The results reveal that the effectiveness of Germany’s model lies in its clear division of institutional roles, project-based cooperation, and the use of network-based platforms for coordination. Institutions do not duplicate functions, but complement each other within a shared system, ensuring comprehensive support to entrepreneurs across different stages of business development. The study identifies three primary mechanisms of institutional interaction: programmatic coordination, resource-based role delegation, and inter-institutional partnership platforms. These mechanisms foster a flexible and resilient ecosystem capable of responding to changing economic conditions and supporting inclusive entrepreneurship. The practical value of the study lies in the proposed directions for adapting the German model in Ukraine, including institutional role mapping, creation of regional cooperation platforms, formalization of referral mechanisms between organizations, and strengthening the capacity of local institutions. The findings can inform policy development and regional strategies aimed at building a coordinated and sustainable entrepreneurial support system in Ukraine based on principles of institutional synergy and trust.

INFORMATION AND ANALYTICAL SUPPORT FOR BUSINESS PROCESS MANAGEMENT: CONCEPTUAL, METHODOLOGICAL AND APPLIED ASPECTS

Damir Bikulov — 2025-05-28

This study examines the issue of information and analytical support for management as a multi-level system integrating technological, organizational, and strategic aspects. The role of artificial intelligence, big data, and algorithmic models in decision-making is highlighted, along with an analysis of the balance between centralization and decentralization of information systems. The impact of digital technologies on management processes is explored, particularly the transition from linear structures to adaptive and self-learning systems. Strategic development directions are outlined, including the integration of ERP and CRM systems, analytical platforms, and cloud technologies. A classification of information support models is conducted, emphasizing the advantages of cognitive approaches. Free software for managerial skill development is reviewed. The study concludes that information systems are evolving from static to flexible digital ecosystems, providing a strategic competitive advantage.

AN EFFECTIVE MANAGEMENT PRACTICE: PUBLIC NOTE-TAKING IN VIRTUAL TEAM COLLABORATION

Danylo Volokh — 2025-05-28

The study investigates public note-taking as a managerial tool to improve the efficiency and effectiveness of online meetings in the IT industry, addressing common challenges such as process inefficiencies, role ambiguity, and fragmented decision-making. The article applies a theoretical analysis of public note-taking within management communication systems and knowledge management practices. It examines the competencies required for effective implementation, including real-time information synthesis, communication fluency, multitasking, and facilitation skills. Findings show that public note-taking enhances communication clarity, supports managerial control, and improves decision traceability and stakeholder engagement. It also contributes to better task execution, promotes accountability, and strengthens team performance management in online environments. Institutionalizing public note-taking fosters agile responsiveness and continuous improvement in IT teams. The study recommends further exploration of AI-powered note-taking tools and potential applications across various sectors to enhance managerial effectiveness.

THE CONCEPT OF PRODUCTION DEVELOPMENT IN THE ECONOMIC BEHAVIOR OF INDUSTRIAL ENTERPRISES

Nataliia Karachyna — 2025-05-28

The theoretical analysis of the interpretation of the categories "development" and "production development" is carried out. The essence of the category of "development" is revealed as a process of transition from one state to another, which is accompanied by quantitative, qualitative and structural changes in an inextricable relationship or separately: due to quantitative, or qualitative, or structural changes. It is determined that the production development of an enterprise is one of the types of development and is extremely important and priority, given that as a result of the full-scale invasion of Russia, the industry of Ukraine lost a significant number of large and medium-sized enterprises that were damaged or destroyed. It is substantiated that production development is a process of quantitative, qualitative and structural changes in the production activities of an enterprise, which is accompanied by a change in the scale of production; automation of production; introduction of waste-free and resource-saving technologies; restructuring of production. It was determined that today the most effective are the following areas of production development: diversification of production, ensuring flexibility, creating safe conditions, innovative orientation, support and involvement of personnel, cooperation with state bodies. The concept of production development in the economic behavior of industrial enterprises was formed, which provides for the improvement of equipment and technologies, the organization of production processes and divisions. It was substantiated that, carrying out production activities, the enterprise should be a reflection of a relatively stable, holistic and independent socio-economic system that integrates the processes of production (sale) of products and reproduction of resources with the simultaneous use of marketing, technological and reproducible innovations. It was determined that the production-oriented economic behavior of the enterprise as a result of production development should synthesize the following types of economic behavior: optimistic or stabilizing, market, strategic, socially responsible or socially oriented, proactive.

MARKETING STRATEGIES FOR ATTRACTING AND RETAINING USERS OF MOBILE BANKING APPLICATIONS

Iryna Liganenko — 2025-05-28

In the context of rapid digital transformation, the banking sector is undergoing significant changes driven by the integration of innovative technologies and the growing demands of tech-savvy consumers. One of the most prominent manifestations of this transformation is the widespread adoption of mobile banking applications, which have become essential tools in enhancing financial accessibility, improving customer experience, and increasing operational efficiency. These applications allow users to perform a wide range of financial activities—such as payments, transfers, and account management—anytime and anywhere, which significantly changes the nature of client–bank interaction. However, the growing number of digital-only banks and fintech competitors creates new challenges for traditional financial institutions. Banks are no longer competing solely on interest rates or fees but also on the functionality, usability, and emotional appeal of their mobile platforms. In this regard, marketing plays a crucial role not only in attracting new users to mobile banking applications but also in fostering long-term loyalty, satisfaction, and engagement. An effective mobile banking marketing strategy must integrate personalized communication, data-driven decision-making, seamless user onboarding, and constant innovation in customer service. Furthermore, user retention becomes a key performance indicator, as it directly impacts customer lifetime value and the institution’s profitability. Academic interest in this topic is growing, especially as researchers seek to understand behavioral patterns, digital engagement metrics, and emotional drivers behind mobile banking usage. Given these trends, the study of marketing approaches in the mobile banking environment is timely and relevant. It contributes to the development of modern financial strategies, supports the adaptation of banks to the realities of the digital economy, and ultimately strengthens their competitive position in the global financial services market.

EFFECTIVENESS OF MOTIVATION PROGRAMS IN THE PERSONNEL ASSESSMENT PROCESS

Oleksii Miroshnychenko — 2025-05-28

The purpose of the study is to identify the effectiveness of motivation programs developed based on personnel performance evaluation as a tool to improve labor productivity and employee engagement. The methodology includes a review of academic literature, analysis of practical experience from enterprises, and the use of comparative methods to assess key indicators before and after the implementation of motivational initiatives. The research also involves the application of statistical methods and expert assessments to validate the findings. The results demonstrate a strong correlation between well-structured performance appraisal systems and the success of motivation strategies. It is proven that integrating evaluation results into incentive programs contributes to reducing staff turnover, increasing employee satisfaction, and enhancing overall productivity. Particular attention is paid to differentiated approaches in motivation, use of tools such as KPI, Balanced Scorecard, and 360-degree feedback, as well as the role of corporate culture and emotional intelligence in maintaining a favorable motivational environment. The practical significance of the study lies in the possibility of applying its findings to improve human resource management systems in various sectors of the economy. The conclusions and proposed approaches may serve as a basis for the development of adaptive and effective motivation strategies aligned with strategic business goals.

ANTI-CRISIS POTENTIAL ANALYSIS AND COMPONENTS ASSESSMENT OF THE PRIVATE MEDICAL ENTERPRISES IN UKRAINE

Dmytro Palei — 2025-05-28

The purpose of the study is to investigate the theory of anti-crisis potential assessment, to analyze the anti-crisis potential on the example of private medical institutions in Ukraine and to formulate a comprehensive strategy for its strengthening under martial law. The essence and main components of the anti-crisis potential of a medical enterprise are determined and their impact on the overall anti-crisis potential is presented. The number of private medical institutions is studied and the impact of different crisis periods on them is analyzed. In general, private healthcare in Ukraine has demonstrated some resilience to crises, as although the war and pandemic have affected growth rates, the market is adapting to changes and demand for quality healthcare services continues to grow. Furthermore, the study emphasizes the importance of human capital development and strategic flexibility as key factors in enhancing resilience. Next, the author analyzes the main components of the anti-crisis potential of private medical enterprises and determines that the pandemic contributed to the growth of revenues and profitability of private medical institutions, while a full-scale war led to a sharp decline. The integration of digital technologies and telemedicine is identified as a promising direction for maintaining service continuity during crises. As for the assessment of the components of the anti-crisis potential, it was found that the most critical are the financial and innovative potentials. Special attention is given to regional disparities in the level of anti-crisis potential, which require tailored management approaches. As a result, the author has formed a comprehensive strategy for crisis management of medical institutions in Ukraine under martial law. It should be noted that the proposed strategy aims to increase financial potential through diversification of both types of services and their cost, which will allow medical institutions to reach more clients and, accordingly, increase their revenue. The strategy developed by the author can be used in private medical institutions of Ukraine to reduce the impact of crisis factors on their overall anti-crisis potential. The findings contribute to the broader discourse on healthcare system sustainability in conflict-affected countries.

CLUSTER APPROACH IN THE RESTORATION AND DEVELOPMENT OF THE INDUSTRIAL POTENTIAL OF THE ZAPORIZHIA REGION IN THE CONTEXT OF MILITARY CHALLENGES

Tetiana Pulina — 2025-05-28

An analysis of the industrial potential of the Zaporizhzhia region revealed that the war caused not only the destruction of production facilities but also a fundamental shift in the region's economic structure: a sharp decline in industrial output, workforce outflow, increased reliance on state transfers, and reduced tax revenues. Labor market issues were considered, including the outflow of qualified personnel and rising unemployment, which require expanded workforce retraining programs and active engagement of young professionals in industrial recovery. The implementation of incentives for the return of highly skilled specialists and support for educational initiatives are critically important for ensuring sustainable economic recovery. Based on the analysis of post-World War II European reconstruction experiences, the effectiveness of regional planning using a cluster-based approach was demonstrated. This approach helped reduce logistics costs, enhance enterprises' innovation potential, and increase employment levels. Thus, the application of a cluster model in the post-war period contributes to faster economic recovery, investment attraction, and added value creation within regional production chains. The necessity of using flexible models for regional industrial recovery is substantiated, with industrial clustering playing a key role. The implementation of the cluster approach will enable the consolidation of enterprises, research institutions, and government bodies to create high-tech industrial hubs, ensuring the region’s recovery and enhanced competitiveness in the long term. In the Zaporizhzhia region, where metallurgy, mechanical engineering, and the energy sectors have traditionally been strong, the creation of industrial clusters can serve as a key driver of regional recovery. A comprehensive approach to restoring the industrial potential of the Zaporizhzhia region is proposed, including a combination of the cluster approach, international financial aid, modernization of industrial enterprises, and development of social infrastructure.

A MODEL OF EFFECTIVE PERSONNEL FORMATION FOR AN INDUSTRIAL ENTERPRISE

Yevhenii Friman — 2025-05-28

In today's environment, management focused on proactive measures to ensure the success and profitability of an industrial enterprise in order to increase its competitiveness is the basis for creating an effective model of personnel support for both each unit and the enterprise as a whole. A number of domestic and foreign experts consider the concept of "personnel provision" from different perspectives: as a certain result of the formation and development of personnel (a set of certain abilities, competences possessed by the relevant employees); as the formation of the necessary qualities of employees in the process of performing certain tasks. However, each of them does not link staffing with positive levels of employee competence and the intensity of using their psychological qualities. These two factors are the basis of the model of effective formation of personnel support of an industrial enterprise. At the same time, these experts do not disclose a set of quantitative and qualitative indicators on the basis of which positive levels of employee competence are determined. Staffing should be understood as a set of employees who possess certain qualifications, abilities, and psychological qualities that allow them to implement certain tasks and goals of the enterprise. Personnel support of an enterprise is an integral set of personnel's abilities to engage in creative productive work. This means that employees should be prepared to continuously, and most importantly, independently improve their professional skills, master new tools, technologies and methods of work. In addition, the company's staffing should contribute to the improvement of employees' professional skills. The most important element of creating a model for the effective formation of personnel support of an industrial enterprise is the process of assessing the positive dynamics of staff competence. In the course of this process, it is necessary to constantly, objectively and timely monitor the positive dynamics of employees' performance based on the use of a set of evaluation indicators and the dynamics of using the psychological qualities of the enterprise's employees, which makes it possible to determine the contribution of each of them to the enterprise's profitability.

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Larisa Shytikova — 2025-05-28

World practice shows a significant increase in the role of management and, in this regard, the complication of management. Management effectiveness is determined by the degree of implementation of the general goals of the enterprise. The development of market relations in modern conditions causes radical changes in the management of economic processes of business entities. Such changes lead to the need to form, and in the future to improve and develop a concept that will be able to ensure the process of managing the efficiency of the enterprise. The basis for active innovative transformations, the formation of a successful management system, the creation of an effective competitive position is a clear understanding of the concept of constant development of the resource potential of a business entity in the strategic management system, the creation of an effective competitive position. A prerequisite is the optimal level of use of resources available to the enterprise. Such an approach should ensure the most effective functioning of the organization based on existing management tools and the development of new principles, methods, approaches, levers. It has been established that the requirement of innovative modeling of the reforms planned by the state in the public sphere to transform the resource management system is the most important task, which is extremely necessary in modern economic conditions. It is proposed to use a multifactor linear regression model to assess the overall efficiency of the enterprise and the management system, the function of which is the level of management in the organization, and the parameters of the regression equation are the corresponding factors of influence on the level of management, which can be absolute and relative indicators. It is proved that each enterprise must develop special methods, procedures, and process management programs taking into account its specifics. The article considers today's Ukrainian realities regarding the management of the efficiency of an enterprise, which must be considered as a system consisting of a certain number of elements, and it can achieve success only under the conditions of coordinated actions of its components, correctly selected management methods, a motivation program, and a mechanism for managing the efficiency of an enterprise. The work substantiates that modern resource management involves a comprehensive study of processes that affect the formation, development, and demand for resources.

ANALYSIS OF RENEWABLE ENERGY DEVELOPMENT TRENDS IN THE EU

Ganna Bogorodytska — 2025-05-28

Analysis of the current development of renewable energy in the EU is relevant due to the rise in energy prices, environmental problems, threats to energy security, and dependence on imports of fossil fuels. The study is conducted to determine the directions of cooperation between Ukraine and the EU in the field of energy and to obtain practical measures that Ukraine can apply to strengthen the economy and Ukrainian-European relations. Renewable energy is a type of energy whose source is energy produced by natural resources that are not only inexhaustible but also regenerate faster than they are consumed. Its types include water, wind, solar, bioenergy, and geothermal energy. Its types include water, wind, solar, bioenergy, and geothermal energy. The use of renewable energy sources presents a number of advantages, the main of which are their availability, inexhaustibility, reduced impact on the climate, absence of emissions into the atmosphere, and increased energy security. The article is devoted to the analysis of renewable energy in the European Union. The article analyzes the main indicators of renewable energy in the countries of the European Union and identifies the main main conclusions regarding the prospects for the development of green energy in the EU countries. The EU reached its headline target of 20% in 2020 with a share of 22.1% of energy consumed from renewable sources in 2020. Most Member States have also met their national target for 2020 except for France. Most Member States have also met their national target for 2020 except for France. In the EU in 2020, renewable energy sources accounted for 38% of the total electricity production, 36% of which was produced thanks to wind energy and 33% was hydropower. Thanks to the accelerated growth of wind and solar energy, energy from renewable sources exceeded energy from fossil sources for the first time, the share of which was 37%. Austria, Sweden and Germany became the leading countries in the field of renewable energy. Austria plays a leading role in renewable energy, as 78% of the electricity it consumed in 2020 was generated from renewable energy sources. Sweden has become the leader in the share of renewable energy production, which is more than half of the total production. Germany is a leader in the production of solar energy. Poland is in 22nd place in terms of the share of renewable energy in the overall structure, its share is 16.1%. The country is still dependent on imports of fossil fuels, namely coal, natural gas and oil, of which Russia is the main supplier. Its share in the import structure is 63.5%. Instead, Poland continues to increase the share of renewable energy by attracting foreign investments. The share of biofuel has increased significantly - 71.6%, and there is also a significant increase in the installation of solar installations.

TRANSFORMATION OF THE GLOBAL FASHION INDUSTRY: CHALLENGES AND PROSPECTS FOR STRUCTURAL GROWTH

Olena Verbytska — 2025-05-28

The fashion industry, representing an independent sector of the world economy, has been in the process of forming its global configuration for the past decades. This process encompasses the production and sale of fashion goods (clothing, footwear, accessories), textile and garment industries, retail trade, information technologies, and organizational culture. It has been proven that major players in the global fashion clothing market have already gone through several cycles of popularity and are showing significantly less organizational, operational, and functional flexibility, primarily due to the global scaling of financial and economic activities, extremely complex supply chains, the orientation of corporate strategies and business models toward mass production, growing marketing costs and reputational problems, and significant bureaucracy in making strategic management decisions. Dynamic structural changes include shortening product life cycles, the development of niche brands, and increasing demand for eco-oriented and functional products. Particular attention is paid to the athleisure phenomenon, which combines comfort, style and versatility, becoming an important element of the wardrobe of modern consumers. The COVID-19 pandemic has significantly transformed demand, strengthening the trend for universality of clothing. Analysis of financial indicators demonstrates the redistribution of income from mass brands in favor of young designer companies. Merger and acquisition strategies in the global fashion industry have also experienced significant growth, allowing companies to consolidate their positions in the global market, increasing adaptability to consumer preferences. In particular, vertical integration has become a key corporate strategy, allowing them to reduce costs and effectively respond to market changes. The article examines the main challenges and prospects of the global fashion industry, including new business models and integration processes that contribute to the creation of sustainable competitive advantages in this sector.