Economics Ecology Socium

Conceptual Principles of Blue Growth in the Development of Natural Assets in Urban Parks of Ukraine

Nina Khumarova, Nataliia Vernihorova — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. For the coastal regions of Ukraine, the conceptual provisions and principles of the blue economy, which define the main approaches to the functioning of maritime industries in the context of sustainable development, have recently become particularly relevant. Harmonious development of coastal regions is impossible without considering the main components of nature management and their connection with the concept of blue growth. One of the important directions of natural use within the city, particularly on the seaside, is recreation in city parks and related activities of related sectors of the economy. Therefore, this study substantiates conceptual approaches and defines the role and place of city parks in the economy of nature use based on blue growth.

Aim and tasks. The purpose of the study is to substantiate the conceptual provisions of the use of natural resources of city parks as natural assets in order to form effective strategies of sustainable development, in particular, on the principles of blue growth of city parks in accordance with their condition and the degree of influence on the development of urban space and society.

Results. In the context of the study, the differences of such concepts as: “natural capital”, “natural resources”, “natural assets”, “ecosystem functions”, and “ecosystem services” are substantiated, which is revealed by taking into account the conceptual and systemic features according to the presence of the consumer and involvement in economic and social processes. Based on this, the essence of the natural resources of urban parks as assets was analysed and substantiated using the GE/McKinsey matrix. It was determined that different city parks are unequal in terms of availability of natural assets and their contribution to urban improvement and economic development. In the matrix analysis process, urban parks were typified according to the degree of involvement of their natural assets in economic and social processes, which allowed for the prediction of differences in risks that arise in the process of decision-making and organizational and economic measures regarding the functioning of parks.

Conclusions. Thus, based on the improvement of conceptual provisions regarding the use of the natural assets of city parks, a conceptual basis for the study was developed in the context of sustainable development, and the peculiarities of the understanding of city parks as natural assets were determined. Based on the matrix analysis results, the types of city parks were determined according to the quality of their resources and their importance (role) to the city, and the risks that arise in their functioning were substantiated. It has been proven that tasks and priorities regarding the development of city parks should be based on natural, economic, and social factors, and that their functional dependence on the effectiveness of decision-making is substantiated.

Investigating the Key Drivers in the Transition to Sustainable Hydrogen Transportation Fuel

Muruvvet Deniz Sezer, Erhan Ada, Yigit Kazancoglu — Wed, 18 Sep 2024 00:00:00 +0000

Introduction. Hydrogen is a promising energy carrier that can achieve net-zero carbon emissions and decrease fossil fuel dependency. However, the importance of the driving forces in hydrogen adaptation and acceptance during the transition to this technology should be emphasised. When assessing hydrogen as a sustainable transportation fuel, defining the success criteria is vital to comprehend the benefits of hydrogen in the transition process. The transport sector is a priority area for the transition to zero emissions, which requires an understanding of the links between the key drivers of hydrogen adoption in transportation.

Aim and tasks. This study aims to identify the key drivers of the hydrogen transition and explore the relationship between the transition drivers to hydrogen as a sustainable transport fuel based on a comprehensive literature review and an interpretative structural modelling approach to determine the relationship between the above-mentioned key drivers.

Results. This study identified key drivers for the transition to hydrogen as a sustainable transport fuel using the Interpretive Structural Modelling (ISM) approach. This study examines the potential of hydrogen transition, analyses the driving forces, and examines their interrelationships in terms of driving force and dependent force. The role of technological development and transition awareness in achieving the SDGs is revealed. Robust regulatory agendas and supportive strategies, Workforce development and training based on hydrogen deployment, and Industry partnerships and collaboration are the most fundamental drivers for achieving the transition to hydrogen as a sustainable transport fuel. In addition, the advancement of hydrogen technologies in production, storage, and transportation, as well as hydrogen production and use, aligns with environmental aims, which are key factors that depend mainly on the actions of other driving forces. However, the limitations of this study include subjectivity and potential differences in the driving forces across countries and sectors.

Conclusions. The deployment of green hydrogen transition for a clean energy source is critical in carbon-intensive sectors of the economy, which are characterised by key drivers and their interlinkages, such as regulatory strategies, workforce development, and industry partnerships. This has increased the flexibility of energy systems with the collaboration of the stakeholders for developing hydrogen technologies and infrastructure, considering the environmental safety, economic efficiency, and social acceptability of hydrogen.

Labour Market of Ukraine and Meeting Post-War Workforce Supply Market Demands

Volodymyr Kulishov, Yuliia Herasymenko, Oleg Furs, Ilya Pakhomov — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. Full-scale military actions in Ukraine increased the dynamics of changes in the labour market, caused significant uncertainty in influencing factors, and increased the imbalance of supply and demand in the labour market, which was characterised as a crisis even before the invasion. This strengthened the need for a relevant assessment of the needs of the Ukrainian labour market and the possibility of its personnel support and management of labour resources, taking into account the risks for the country's economy and post-war reconstruction.

Aim and tasks. The purpose of this article is to evaluate the labour market of Ukraine in the post-war period and substantiate ways of meeting the market's personnel needs using the example of the construction and IT industries. The tasks of this study are to identify the factors affecting the labour market in the post-war period, assess the dynamics of changes in the balance of demand and supply in the labour market in the post-war period, and develop a mathematically formalised approach to the adaptive assessment of the labour market.

Results. The developed mathematically formalised approach to assessing the imbalance of the labour market in individual areas allowed the stabilisation of the demand and supply of the IT labour market in 2026 at a level 1.496 times lower than the maximum in 2023. In the construction industry, differentiation in sectoral priorities of post-war reconstruction has been determined, as evidenced by the expected shortage of personnel in this industry, which is 2.15 times higher than the indicator for all industries. This is also indicated by the differentiation in the demand for qualified workers from 20% to 60% for large and small construction enterprises.

Conclusions. The identified reasons for the uncertainty of factors affecting the labour market (losses in the quality of labour resources and forced migration) proved that post-war reconstruction would require an adaptive approach to managing labour resources at all levels. The lack of personnel in the post-war period will require a change in the concept of ensuring the competitiveness of domestic enterprises by using cheap labour. It was determined that the demand for qualified personnel in the post-war period for all industries would grow, which is confirmed by the dynamics of the index of change of employees, which is 30% higher for qualified workers than unskilled workers. Significant differentiation by micro-specialty influences the gap between demand and supply, which does not consider the market's needs.

Impact of Job Satisfaction on the Labour Productivity of Healthcare Personnel

Nino Paresashvili, Nanuli Okruashvili, Mzia Tikishvili, Ketevan Chitaladze — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. The healthcare sector, a cornerstone of society and the economy, brings together specialists from various fields and departments. As healthcare organisations grapple with similar human resource management and policy development challenges as other types of organisations, research on increasing job satisfaction, a key indicator of effective management and employee attitudes, becomes increasingly relevant.

Aim and tasks. This study aims to determine the level of satisfaction among those employed in the healthcare sector, particularly in Georgia, and to underscore its profound impact on performance.

Results. Findings revealed that various factors affect job satisfaction and, consequently, the quality of service provided. Using the F test, it was found that there is a significant statistical relationship between education (0.01 level (p < 0.001, F = 9.992)), work experience (0.01 level (p < 0.001, F = 9.299)), age (0.01 level (P<0.001, F= 9.164)) and job satisfaction and quality of service. Also, the research results showed that 70% of the respondents believe job satisfaction enhances their performance. Specialized expertise, knowledge, and an appropriate strategy are required to manage these professionals. It is highly significant and essential for employees to have constant development opportunities, access to professional training, and work in a high-satisfaction environment.

Conclusions. That is critically important for improving performance in healthcare and any organization. However, it is worth mentioning this sector faces stress, high mental load, and burnout. In order to address these issues, organizations should have their own clear policy, properly distribute roles and resources, involve employees in processes from the start, and provide relevant information. Hinged on the previously conducted research, opportunities for personnel development and training are limited in Georgia, which in turn is leading to a shortage of qualified personnel and high staff turnover. The presented recommendations will help managers of organizations analyse the importance of job satisfaction in the growth of productivity and success of the organization and its constituent indicators and develop an appropriate strategy for their improvement in the future.

Review of AI-Driven Solutions in Business Value and Operational Efficiency

Iskren Tairov, Nadezhda Stefanova, Aleksandrina Aleksandrova, Martin Aleksandrov — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. Artificial intelligence (AI) refers to a wide spectrum of breakthroughs that offer multiple advantages to companies in terms of increased sales. Considering the abundance of data and the significant increase in computational resources, organisations have rapidly turned to artificial intelligence (AI) to create financial benefits. Nevertheless, businesses continue to discover it is challenging to implement and employ AI in their everyday activities. Therefore, a comprehensive understanding is required due to the absence of an integrated comprehension of how artificial intelligence creates business value and what kind of corporate worth is anticipated.

Aim and tasks. The study aims to review value-generating methods and explain how enterprises might use AI technology in their business activities. To accomplish its main aims, this study offers a thorough literature review. The working hypothesis claims that the use of AI can increase business value.

Results. This study examines the research capabilities of AI, its use in the corporate environment, and its initial and secondary impacts. The impact of AI includes process efficiency, generating insights hidden in huge amounts of data, and transforming business processes in terms of procedural actions, operational efficiency, financial efficiency, market efficiency, and sustainability in terms of company profile. In addition to the favourable impacts, several recent cases have shown that unwanted and undesired consequences may develop in the absence of effective management procedures. These effects hurt the reputation of the businesses concerned and, in certain cases, resulted in huge fines and financial losses. Such findings increase the responsibility of AI enterprises to incorporate solutions that reduce the bias in data and algorithms at every stage of implementation.

Conclusions. The role of artificial intelligence in the corporate environment in value creation and operational efficiency is extending. AI technologies can be used by companies to increase automation of corporate processes without direct interaction with customers, including applications that mean the use of AI in customer-facing services and products. Learning about the means by which AI might be employed will assist businesses in generating rational choices regarding the strength of implementing technologies in the supply chain. Assessing the possible implications of AI acceptance of artificial intelligence may enable firms to plan more successfully on a technology’s launch.

Approaches to Modelling Marketing Strategies in E-Commerce

Kostyantyn Afanasyev, Iryna Hanechko, Oksana Trubei, Kateryna Lukhanina — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. Increasing the efficiency of business activities requires developing a marketing strategy using e-commerce to attract a wide range of customers and maximise the company's income. The key marketing metric for most companies is the customer lifetime value indicator, which is why studying approaches to forecasting this indicator in e-commerce requires special attention, considering the changing business operation environment.

Aim and tasks. The study aims to develop approaches to modelling the marketing strategy of e-commerce enterprises. The tasks are a comparative characterisation of modern marketing planning tools and an empirical analysis of the possibilities of using the BG/NBD model for marketing planning in e-commerce companies, considering the need to implement scenario marketing planning in unstable conditions.

Results. A comparison of the characteristics of the main marketing planning tools was conducted according to features such as content and focus, functional purpose, and planning period, which allows more purposeful use of these tools to solve specific tasks. In order to automatically obtain the required data format for modelling, a Visual Basic program was developed, a forecast of customer behaviour was built, and an indicator of customer transactions was determined for further calculation of customer lifetime value (CLV). During the simulation, four parameters of the BG/NBD model were evaluated, and the maximum value of the logarithmic likelihood function equal to 14460.54 was obtained. The expected number of transactions (forecast time = 26 weeks) was determined for each client from the database. After calculations the information was received, the selected client will make 2.35 transactions during the forecast period of 55-80 weeks. The recommended algorithm for using the BG/NBD model as part of a scenario approach for forecasting the cost of the customer's life cycle allows for more flexible forecasting of digital business revenues and building an optimal marketing strategy.

Conclusions. An empirical study of the possibilities of using the BG/NBD model for marketing planning in e-commerce companies showed that, for the simulation of indicators that affect a company's marketing strategy, it is crucial at the initial stage to convert the database of customer purchases into the input format required for modelling. Using a scenario approach allows e-commerce enterprises to carry out variable marketing planning and reduce risks under growing uncertainty. A well-designed marketing strategy that can be adapted to different business development scenarios enables an e-commerce company to increase its sales.

Assessment of Power Equipment Operational Safety in the Sustainable Management of Residual Lifespan

Hanna Hrinchenko, Nataliia Antonenko, Viktor Khomenko, Svitlana Artiukh — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. Ensuring the safe operation of energy facilities is a critical issue at all life cycle stages. It is associated with the adoption of management decisions when rescheduling and assessing the remaining resources, which are made based on a comprehensive assessment of the technical condition of the equipment, taking into account the economic efficiency and environmental requirements for further operation, which is the basis for technical and economic assessments.

Aim and tasks. This study aims to develop a technical and economic assessment of the safe operation of power equipment to ensure sustainable management of the remaining service lifespan.

Results. An algorithm for assessing pipeline system elements by the coolant environment is proposed, which allows for the pipeline load and changes in erosion and corrosion caused by coolant movement. It was proposed that the equipment be systematised by safety class and coolant. When conducting a technical and economic assessment, these parameters and the costs of extending the service life and upgrading the existing equipment were considered in the standard calculations of a certain type of equipment. For this purpose, mathematical models for calculating the residual life for each type, obtained and confirmed based on empirical studies, are proposed. Research findings into ensuring the reliability and safety of operation with various heat carriers have shown that it is necessary to consider low-cycle and high-cycle loads and erosion processes. It was found that the erosive wear rate is 0.3-0.4 mm/year for bending sections of the main circulation pipeline, where maximum loads occur relative to low-cycle and vibration loads, and the stress is 212.5 MPa when assessing the residual life of 7 years.

Conclusions. The cost-effectiveness of reassigning the service life is reasonable, as it does not require additional investment in upgrading or replacing equipment subject to annual technical diagnostics. The systematisation of pipelines, improved codifiers, lifespan assessment models, and algorithms for evaluating the remaining life under various loadings enhance the regulatory framework for safe nuclear power plant operations and support technical and economic evaluations for extending their lifespan.

Digitalization Management in the Corporate Banking Sector of Ukraine

Dmitry Kretov, Olena Kretova, Lilia Zherdetska, Yaroslav Chaikovskyi — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. Digitalization in trendy banking services requires changing their relationships with corporate clients within the framework of an individual approach to each client in the context of the development of the latest information and communication technologies and Internet marketing. Therefore, improving the business customer service system based on innovative technologies in banks to increase their competitiveness and profitability remains relevant.

Aim and tasks. This study aims to examine the trends in banks’ service of corporate clients in the context of the latest financial technology development and to determine the directions for forming a digitalization strategy in corporate banking in Ukraine.

Results. The growth of corporate clients in the banking system of Ukraine in 2022-2024 became possible due to the digitalization of management and the implementation of electronic payment systems, which contributed to the growth in the number of open accounts, which increased by 27%, while the growth of remote servicing increased from 78% to 89% of business clients. The top 10 banks in Ukraine account for 75% of the funds in corporate clients’ accounts. Along with high reliability, the clients of these banks have come to value the digital services that banks provide that meet global standards. As a result of the growth in the volume of banking services provided to corporate clients in 2023 using digital technologies, the volume of fee and commission income of the Ukrainian banking system increased by 13% compared to 2022.

Conclusions. The banking system of Ukraine is in the process of digital transformation that promotes the transformation of financial institutions into high-tech platforms capable of creating new algorithms for generating profit from digital technologies. Implementing digital transformation in the banking sector increases the number of banks` corporate clients and their satisfaction with banking products and services. This leads to an increase in the efficiency of banking activities and banks’ profitability through increased commission income. The forecasting of commission income of Ukraine’s banking system conducted in this study showed that further introduction of digitalization into corporate banking could contribute to their growth by at least 8% annually.

Features of the Development of International Trade in Tourist Services

Tetiana Obolenska, Olha Yatsenko, Lesia Lyskova, Zdenek Ostian — Mon, 30 Sep 2024 00:00:00 +0000

Introduction. The relevance of studying the peculiarities of the development of international trade in tourist services is determined by the significant role of world tourism in the structure of the global economy. In the conditions of a complex international political situation, which is dynamically changing, it is crucial to identify the vectors of the development of the tourism industry to determine the future structure of the macro-regional distribution of tourist flows.

Aim and tasks. The purpose of this study is to identify the dominant factors and prospects for the development of international tourism business in the conditions of modern global economic and political instability to determine the most favourable marketing strategies for interaction in the international market of tourist services by extrapolating the results to the possibilities of post-war recovery of the tourism industry in Ukraine.

Results. An analysis of international tourism arrivals showed that the average annual growth rate of the industry from 1995 to 2020 average annual growth of international tourist arrivals was more than 4 per cent. Over the estimated period from 1995 to 2023, the average arrival rate decreased to 2.46 per cent. Macro-regions are considered the most promising for the scaling of international tourism, as well as the factors that will contribute to this and can inhibit economic processes. Special attention is paid to the positioning of Ukraine during the post-war recovery of the tourism industry. Forecast indicators indicate that international tourist arrivals to Ukraine could reach 61 million people in the tenth year of the post-war period. An alternative strategy for promoting national tourist products and brands in the target markets of Central and Eastern Europe, Asia, and the Middle East was proposed, and the feasibility of continuing the promotion of Ukraine as a tourist brand was substantiated.

Conclusions. This study confirms the vector of the shift in global tourist flows under the influence of a number of factors that deepen the contradictions between the Global South and the North, revealing key trends in the growth and displacement of international tourist flows among countries belonging to two opposite camps. The directions of institutional and structural changes required to restore international tourism in Ukraine in the post-war period to strengthen Ukraine's position in the global tourism market are proposed.