Economics. Ecology. Socium (E-Journal) / Економіка. Екологія.Соціум
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Strategic Management and ESG Impact Assessment in The Sustainable Agribusiness Development Model
Full text linkIntroduction. Hostilities in Ukraine pose challenges to the agro-industrial complex, including contamination of agricultural land, logistical route complications for the sale of agricultural products, and labour resource shortages. These concerns negatively impact the economic activities of agricultural enterprises, as well as food and environmental security, in Ukraine and globally. To ensure the sustainable operation of agricultural enterprises, it is necessary to conduct a comprehensive study of environmental, social, and governance (ESG) components to develop effective management strategies.
Aim and tasks. This study aims to develop a comprehensive, economically justified, and flexible system of ESG indicators that can enhance the efficiency of integrating environmental, social, and governance components with the strategic aspects of an enterprise’s economic activity.
Results. Using the hierarchy analysis method, a three-level model comprising target, criterion, and specific indicator levels was constructed to assess the impact of ESG factors on an enterprise’s operations. Calculating ESG indicators for the environmental component revealed the need to reduce CO₂ emissions and decrease the energy intensity. The social component exhibits a strong position in terms of wages and low injury rates, whereas it has a high staff turnover rate. An effective anti-corruption policy characterises the governance component, but there is insufficient implementation of digital management tools. The highest ROIC increase was observed when all the ESG components increased simultaneously. For example, a 0.14% increase in the environmental component (E) results in a combined increase of 0.50-0.63% with the social (S) and governance (G) components. The situation is similar for the social component, where a 10% increase leads to a 0.15% increase in ROIC. The governance component (G) demonstrates the most significant individual effect (0.16%), along with the environmental and social components, which increase by 0.62% and 0.63%, respectively.
Conclusions. A comprehensive system of ESG performance indicators ensures the effectiveness of a company’s environmental, social, and corporate social responsibility, as well as its financial performance, competition, innovation, and sustainability. The three-level model enables the assessment of both the direct impact of each ESG component on the enterprise’s activities and their interactions, creating a synergistic effect on the agricultural sector
Assessing Strategic Planning in Postmodern Organizations: A Case Study in the Public Sector
Full text linkIntroduction. Different sectors of the economy adopt a dynamic approach to the role of strategic planning, presenting specific arguments for its application as a management tool and the rationale behind measuring its effectiveness. Research gaps remain, as justifying the relevance of strategic planning continues to be important for postmodern organisations.
Aim and tasks. This study presents an instrument for managers that allows them to evaluate the results of strategic planning and thereby justify the need for strategic planning. This study explores gaps in the current practice of strategic planning in the public sector and predicts opportunities for improving performance by focusing on public organisations.
Results. An empirical study was conducted at the level of a single-purpose public sector organisation. The empirical study was divided into three parts: studies of the desired and achieved state of the organisation’s performance quality, a set of rationally composed quantitative and qualitative research methods was selected for the latter, and finally, a synthesis of research results using the formula for assessing the maturity of strategic planning activities. The calculated average maturity score (2.71) of the managerial activity components in the chosen organisation indicates that its strategic planning maturity is at Level 3 (completed). To reach Level 4, the goals and tasks of the projects must be comprehensively aligned with the strategy, and project success should be measured based on compliance with the strategy concerning all stakeholders.
Conclusions. An empirical study of strategic planning in a public sector organisation based on an integral methodology showed that the process was at an average level of maturity. The need for a link between strategy and projects was identified as a relevant gap in the literature. This coherence facilitates effective risk management regarding the logical connection between tasks and their implementation, compliance with the implementation of goals with the norm, and the coincidence of the views of the organisation and its stakeholders on the quality of activities. Key issues include the mission’s formal nature, bureaucratisation of the process, and stakeholders’ poor awareness of project results. To move to the highest level, full strategy and project synchronisation and assessment of their success through the prism of stakeholder satisfaction are necessary
Statistical Analysis of Employment and Health Impacts on Demographic Trends in the Kakheti Region of Georgia
Full text linkIntroduction. The demographic situation in Georgia and its regions, particularly in Kakheti, remains tense and manifests in a decrease in the birth rate, a negative natural increase, a decrease in marriage and an increase in divorce, and high migration rates. In this regard, there is a need for an in-depth analysis of these factors that reflect serious demographic challenges, to predict future changes in the population structure. Understanding these processes can help develop effective strategies to improve the demographic situation and create conditions for sustainable socioeconomic development in the region.
Aim and tasks. The study aims to conduct a comprehensive analysis of the demographic expectations and existing variations within Kakheti region of Georgia.
Results. The demographic situation in Kakheti region of Georgia was analysed based on the results of a survey conducted monthly from 2023 to 2024 among residents of the region aged 15 to 50 years. The empirical analysis showed that economic conditions and the health of one of the spouses were the main reasons for the decline in the birth rate. For most respondents, the primary source of income was employment in the public sector and private business, with a significant portion of respondents (72.7%) assessing their financial situation as satisfactory. Among the factors influencing health and life expectancy, the respondents highlighted economic well-being (22%) and environmental conditions (21.4%) as the most significant. Families with stable incomes prefer having two or three children, while low-income families are not prepared to have four or more children. The role of economic (income) and educational factors (education level) influencing the demographic attitudes of respondents was emphasised.
Conclusions. There is an apparent discrepancy between the ideal and actual number of children in families. A balance between the desired and actual number of children is lacking n many families. There has been a change in the demographic behaviour of different generations. The main reasons for having fewer children than desired were economic conditions and the health of one of the spouses. For most respondents, the primary source of income was employment in the public sector and private businesses
Market Analysis and Entrepreneurial Development of Dairy Farms in the Agricultural Sector
Full text linkIntroduction. The development of entrepreneurship in the dairy industry can ensure food security, increase budget revenues by increasing the volume of dairy product exports, and create jobs in post-war Ukraine. Since the dairy business involves production, processing, storage, logistics, and sales of dairy products, this opens up vast opportunities for developing diverse entrepreneurial activities involving workers with different qualification levels.
Aim and tasks. This study aims to analyse market conditions and substantiate the directions of entrepreneurial development of dairy production entities in Ukraine in the post-war period. It further seeks to forecast the dairy market indicators of Ukraine using the ARMA approach, assess the significance of changes in dairy market indicators in the first post-war years, and substantiate the barriers to entrepreneurial activity of dairy business entities.
Results. The adaptive method of step-by-step refinement of the forecast indicator specified a reduction in imports in 2027 compared to 2024 by 10.7%, provided that domestic demand grew by 7.76% and exports increased by 26.3%. The share of cattle in small farms in 2027 will be 3.5% less than that in 2021, and the share of cows will be 1.1% less. A gradual increase improves the prerequisites for entrepreneurial activity in livestock farming and milk production profitability. This is confirmed by forecast data on the growth of average milk yield from 0.85% to 4.2% by farm size for the first post-war years, since the growth of milk yield is one of the factors increasing the profitability of dairy enterprises.
Conclusions. With the growing volumes of supplies for processing from large enterprises, there is a tendency to reduce supplies from small farms, which increases the differentiation of dairy farms in terms of the volume of coverage of external and internal markets. When defining promising areas, obstacles to the entrepreneurial activity of dairy business entities were identified. This indicates that the specified activity should be aimed at the glocalisation of production and sales. This will provide an opportunity to use sales in external markets and operational manoeuvring in markets as a tool for regulating production volumes. This indicates that cooperation contributes to solving the problems of providing workers and intensifying the development of human capital in agricultural production, which is currently hindered by a small share (18%) of dairy farms in the cooperation process
Assessment of Factors Influencing Market Leadership and Innovation of FinTech Companies in the Digital economy
Full text linkIntroduction. The fintech industry has focused on its potential, as it has rethought the possibilities and put the provision of financial services in a digitally developed world on a completely different level. The digital transformation of financial services, made possible by the rapid development of new technologies that ensure reliable transactions, has boosted the growth of FinTech companies.
Aim and tasks. The study aims to comprehensively assess the determinants of the ability of FinTech companies to achieve market leadership, sustain innovation activity, and ensure regulatory compliance in the context of the financial sector’s digital transformation.
Results. The expert survey developed a standardised codebook to evaluate 15 FinTech companies grouped into three clusters, resulting in a composite index and validating hypotheses about the factors determining growth. The regulatory environment (RE, 0.148), trust and security (TS, 0.139), and access to finance (AF, 0.117) form the core determinants, followed by technological infrastructure (TI, 0.111) and team quality (TQ, 0.108), and the remaining factors have lower relative weights (<0.09). The inter-firm differences are mainly explained by the performance on the regulatory-trust and financial-technology determinants, and the sensitivity analysis shows that a 1-point (0–5) increase in RE/TS/AF increases the index by approximately +0.030/+0.028/+0.023, which quantitatively confirms their leading roles. A comparative analysis of the cohorts showed that the leaders (C1–C7) demonstrated high results (≥4 points on 9–10 factors out of 10) and significant superiority in technology infrastructure (TI) and team quality (TQ). At the same time, the remaining groups of companies had more fragmented profiles with pronounced weaknesses.
Conclusions. FinTech growth relies on a core of regulatory stability (RE), trust and security (TS), and access to finance (AF), complemented by technological infrastructure (TI) and team quality (TQ). Predictable regulation, access to capital, high-security standards, and targeted partnerships maximise the chance of “gazelle” or “unicorn” growth. A predictable regulatory environment and access to investment capital play a key role in accelerating the growth of the FinTech ecosystem. FinTech management should prioritise investments in technology infrastructure, developing highly skilled teams, creating targeted partnerships and ecosystems (PEs), and developing scalability and international expansion (SIEs) to transform high-growth companies into leaders
Trendwatching-Driven Modelling and Management of Structural Labour Market Imbalances
Full text linkIntroduction. In the context of the crisis of the Ukrainian economy, which was significantly exacerbated by labour market imbalances, institutional structures and businesses need to promptly identify asymmetries of labour market factors and relevant results of trendwatching of the market situation. Simultaneously, trendwatching is significantly complicated by uncertainty and sharp changes in the main indicators of demand and supply in the Ukrainian labour market. This necessitates the development of a new mathematical model of trendwatching that is suitable for use in the specifics of the labour market and its application in forecasting the indicators of the specified market.
Aim and tasks. This study aims to develop new mathematical tools for trendwatching, adapted to the conditions of Ukraine, and their use for assessing and forecasting labour market indicators.
Results. Forecasting the impact of the main factors on the labour market of Ukraine, contributing to the increase in wages in the IT industry, using the developed mathematical model, indicated that the impact of uncertainty is significant, from 5% to 20%. The differences in the average monthly wage by industry tend to grow, and the forecast data for 2025 will be 1.53 times greater than the indicator for 2021. This indicates that not only the magnitude (by two or more times) but also the directions of the demand-supply vectors change per quarter, even in critical infrastructure sectors. Simultaneously, a significant loss of high-quality human resources is indicated due to the outflow of highly qualified workers abroad.
Conclusions. The labour market trendwatching indicated that the difference in the rate of change in the number of resumes in the period 2023-2024 is 12.79 times greater than the rate of change in the number of vacancies, with a concomitant low level of convergence of the nonlinear trends of the specified indicators, which is evidence of a significant gap in the demand and supply of employee competencies. This is confirmed by a significant (1.5 times higher than the EU) unemployment rate among people with higher education levels. A significant slope ratio of the linear trend of the ratio of the standard deviation of the average monthly salary by industry to its average value in the economy (4.382) confirms the trend of increasing discrepancies in the personnel shortage by industry and the post-war period. Simultaneously, a trend towards an increase in job offers with increasing wages was detected, indicating a tendency in Ukraine to abandon the policy of cheap labour
Marketing and Controlling in Strategic Forecasting of Innovative Industrial Development
Full text linkIntroduction. Outlining the strategic vision of alternatives regarding the innovation development of industrial enterprises implies a multifunctional load on marketing and controlling support systems aimed at increasing the effectiveness of managerial influence to ensure the long-term sustainability and competitiveness of enterprises. Marketing and controlling support decision-making in developing the innovation potential of industrial enterprises to ensure their competitiveness in recovering and strengthening the national economy.
Aim and tasks. This study aims to develop and substantiate approaches to strategic forecasting regarding the innovation development of industrial enterprises in marketing and controlling support to modernise and accelerate national economy recovery.
Results. The study uses an economic and mathematical model to forecast industrial competitiveness by adjusting key innovation potential components. The model reveals that innovation potential depends significantly on prior investments in innovation made in the previous period, which requires sound management decisions regarding the choice of strategic alternatives for innovation development based on marketing and controlling support. An analysis of the forecasted competitiveness of industrial enterprises in 2023-2024 shows that innovative potential has the most significant impact on competitiveness, with R3 parameter equal to 0.5472, which exceeds the value of R2 parameter of 0.1180 for the competitiveness in the previous period. The proposed ADL model with fixed effects for panel data confirms the dependence of industrial competitiveness on innovation. In particular, a conditional increase in innovation potential of 10% leads to a 5.4% increase in the competitiveness of industrial enterprises during the forecast period.
Conclusions. Creating a marketing support system for the innovation development of industrial enterprises contributes to the adaptation of industrial enterprises to conditions of rapid technological processes within the industrial paradigm and enhances resilience to external challenges. Controlling makes it possible to optimise processes and increase the efficiency of management decisions to achieve innovation development’s strategic goals and accelerate industrial enterprises’ competitiveness. Analysing strategic alternatives for innovation development based on marketing and controlling enabled the formulation of strategies to increase industrial enterprises’ development innovativeness and effectiveness.Introduction. Outlining the strategic vision of alternatives regarding the innovation development of industrial enterprises implies a multifunctional load on marketing and controlling support systems aimed at increasing the effectiveness of managerial influence to ensure the long-term sustainability and competitiveness of enterprises. Marketing and controlling support decision-making in developing the innovation potential of industrial enterprises to ensure their competitiveness in recovering and strengthening the national economy.
Aim and tasks. This study aims to develop and substantiate approaches to strategic forecasting regarding the innovation development of industrial enterprises in marketing and controlling support to modernise and accelerate national economy recovery.
Results. The study uses an economic and mathematical model to forecast industrial competitiveness by adjusting key innovation potential components. The model reveals that innovation potential depends significantly on prior investments in innovation made in the previous period, which requires sound management decisions regarding the choice of strategic alternatives for innovation development based on marketing and controlling support. An analysis of the forecasted competitiveness of industrial enterprises in 2023-2024 shows that innovative potential has the most significant impact on competitiveness, with R3 parameter equal to 0.5472, which exceeds the value of R2 parameter of 0.1180 for the competitiveness in the previous period. The proposed ADL model with fixed effects for panel data confirms the dependence of industrial competitiveness on innovation. In particular, a conditional increase in innovation potential of 10% leads to a 5.4% increase in the competitiveness of industrial enterprises during the forecast period.
Conclusions. Creating a marketing support system for the innovation development of industrial enterprises contributes to the adaptation of industrial enterprises to conditions of rapid technological processes within the industrial paradigm and enhances resilience to external challenges. Controlling makes it possible to optimise processes and increase the efficiency of management decisions to achieve innovation development’s strategic goals and accelerate industrial enterprises’ competitiveness. Analysing strategic alternatives for innovation development based on marketing and controlling enabled the formulation of strategies to increase industrial enterprises’ development innovativeness and effectiveness
Corporate Social Responsibility Management and Business Strategies in Sustainable Economic Development
Full text linkIntroduction. Corporate social responsibility (CSR) management is pivotal for the strategic development of the national economy and the sustainability of companies. Considering the intensification of environmental and social issues, companies that integrate the principles of sustainable development into their activities can enhance their image and ensure long-term economic efficiency.
Aim and tasks. This study examines the key principles of corporate social responsibility management and their impact on the economic, social, and environmental development of companies. It also examines the role of CSR in sustainable economic development and its significance in establishing a socially responsible business environment.
Results. The adoption of CSR principles enhances business positions, as proven by the increase in the number of companies publishing CSR reports from 20% in 2011 to over 90% of S&P 500 companies in 2022. This contributes to positive economic dynamics, with the annual growth of legal entities reaching 8.5% between 2020 and 2023, while the number of private enterprises decreased by 0.2%. The key components of corporate reputational capital included product and service quality (20.2%), management quality (14.9%), citizenship (14.6%), financial success (13.4%), and innovation (13.3%). In 2023, the distribution of companies by CSR type was as follows: large Ukrainian enterprises (67%) and enterprises with foreign capital (18%) were the most common, while multinational corporations accounted for 13%, and medium-sized enterprises accounted for 2%. CSR has a positive impact on company performance, reflected in reputation (93.6%), quality (85.3%), innovation (83%), customer satisfaction (81.7%), productivity (80.4%), and market accessibility (71.3%).
Conclusions. CSR management is crucial for sustainable development and promotes responsible economic practices. The analysis of CSR projects of domestic companies in the context of sustainable development and social responsibility has identified key activities of the most socially responsible companies in Ukraine that provide charitable assistance to the population (74%), support medical services (54%), and organise leisure activities and resettlement (47%). The implementation of corporate social responsibility through innovations, social programs, and environmental initiatives not only adds value to businesses but also fosters favourable changes in the community and the environment.Introduction. Corporate social responsibility (CSR) management is pivotal for the strategic development of the national economy and the sustainability of companies. Considering the intensification of environmental and social issues, companies that integrate the principles of sustainable development into their activities can enhance their image and ensure long-term economic efficiency.
Aim and tasks. This study examines the key principles of corporate social responsibility management and their impact on the economic, social, and environmental development of companies. It also examines the role of CSR in sustainable economic development and its significance in establishing a socially responsible business environment.
Results. The adoption of CSR principles enhances business positions, as proven by the increase in the number of companies publishing CSR reports from 20% in 2011 to over 90% of S&P 500 companies in 2022. This contributes to positive economic dynamics, with the annual growth of legal entities reaching 8.5% between 2020 and 2023, while the number of private enterprises decreased by 0.2%. The key components of corporate reputational capital included product and service quality (20.2%), management quality (14.9%), citizenship (14.6%), financial success (13.4%), and innovation (13.3%). In 2023, the distribution of companies by CSR type was as follows: large Ukrainian enterprises (67%) and enterprises with foreign capital (18%) were the most common, while multinational corporations accounted for 13%, and medium-sized enterprises accounted for 2%. CSR has a positive impact on company performance, reflected in reputation (93.6%), quality (85.3%), innovation (83%), customer satisfaction (81.7%), productivity (80.4%), and market accessibility (71.3%).
Conclusions. CSR management is crucial for sustainable development and promotes responsible economic practices. The analysis of CSR projects of domestic companies in the context of sustainable development and social responsibility has identified key activities of the most socially responsible companies in Ukraine that provide charitable assistance to the population (74%), support medical services (54%), and organise leisure activities and resettlement (47%). The implementation of corporate social responsibility through innovations, social programs, and environmental initiatives not only adds value to businesses but also fosters favourable changes in the community and the environment
Impact of New Quality Productive Forces on the High-Quality Development of the Construction Industry: Evidence from China
Full text linkIntroduction. Recognised as an emerging and advanced mode of productivity, new quality productive forces (NQPF) have significantly contributed to the development of various industries. Investigating their influence on the high-quality development of the construction industry (HDCI) can offer theoretical support and practical guidance for the transformation and upgrading of the industry. This includes improving quality and efficiency, advancing green development, and promoting sustainable practices. Such efforts are of great significance for the high-quality development of the national economy.
Aim and tasks. This study aims to develop an index system for assessing the impact of new quality productive forces on the high-quality development of the construction industry, and empirically examines their relationship within the context of industrial structure modernisation.
Results. The regression coefficient of NQPF on HDCI was 0.293, and all regression results remained positive after the sequential inclusion of the control variables. The regression coefficient of NQPF on industrial structure upgrading was 0.056, whereas the regression coefficients of NQPF and industrial structure upgrading on HDCI were 0.201 and 0.256, respectively. A bootstrap test involving 1,000 resampling iterations was performed, and the resulting confidence interval was [0.0005, 0.0406], which does not include zero. The results of the regional heterogeneity analysis indicate that the positive effect of NQPF on HDCI was strongest in the eastern region (0.348), followed by the western region (0.132), with the impact on the central region being statistically insignificant. After applying the robustness checks, all regression results remained positive and statistically significant at the 1% level.
Conclusions. This study develops a framework for analysing the impact of NQPF on HDCI and provides recommendations for the forthcoming construction industry and related policy research. Under the NQPF policy framework, the impetus to promote high-quality development of China’s economy and construction industry is reasonably policy-driven, featuring industrial upgrading and regional optimisation in synergy with technological popularisation. Policy choices under the NQPF regarding China’s construction industry and the high-quality development of its economy are of critical importance. Moreover, they further contribute to the promotion and enhancement of environmental sustainability
Demographic Dividend and Labour Market Dynamics: An Empirical Analysis of Socio-Economic Transition and Policy Implications
Full text linkIntroduction. Despite macroeconomic improvements, Georgia has faced a persistent negative demographic dividend that has held back economic growth over the past two decades. This study combines dependency ratios, unemployment, self-employment, and informal employment characteristics using an innovative algorithm. Considering its unique informal sector, this approach provides a more realistic picture of Georgia’s demographic and economic dynamics.
Aim and tasks. This study aims to empirically assess the impact of the demographic situation in Georgia on labour market dynamics and the socio-economic transition using a modified algorithm, regression analysis, and CGE modelling to identify necessary reforms and develop evidence-based policy recommendations to facilitate the realisation of the demographic dividend.
Results. The study confirms that, despite GDP and wage growth, Georgia has experienced a persistently negative demographic dividend over the past two decades. Traditional dependency ratios fail to reflect the specifics of Georgia’s highly informal and underemployed labour market. Regression analysis and the Granger causality test show that dependent unemployment and cost increases are the key drivers behind the negative trend. Empirical data show a decline in net demographic returns: -€35.96 million (2002-2012) and -€89.91 million (2013-2023), indicating that employees are unable to pay dependent expenses, especially in 2022. Regression (R² = 96%) confirmed the negative impact of dependency burden and expenses, while the falling birth rate had only a weak offsetting effect. Granger tests revealed that the size of the dependent population, food expenditures and mortality rates predict future dividend values, confirming the relevance of the planning model. Evidence strongly suggests that without structural reforms in labour, social, and health policies and productivity boosts, Georgia’s demographic trends will continue to hinder economic growth rather than support it.
Conclusions. The study concludes that without targeted reforms in the labour market, healthcare, and economic planning, Georgia will not be able to turn demographic changes into economic benefits. The presented model emphasises the influence of demographic factors on socio-economic development and the importance of aligning demographic trends with effective economic policies.Introduction. Despite macroeconomic improvements, Georgia has faced a persistent negative demographic dividend that has held back economic growth over the past two decades. This study combines dependency ratios, unemployment, self-employment, and informal employment characteristics using an innovative algorithm. Considering its unique informal sector, this approach provides a more realistic picture of Georgia’s demographic and economic dynamics.
Aim and tasks. This study aims to empirically assess the impact of the demographic situation in Georgia on labour market dynamics and the socio-economic transition using a modified algorithm, regression analysis, and CGE modelling to identify necessary reforms and develop evidence-based policy recommendations to facilitate the realisation of the demographic dividend.
Results. The study confirms that, despite GDP and wage growth, Georgia has experienced a persistently negative demographic dividend over the past two decades. Traditional dependency ratios fail to reflect the specifics of Georgia’s highly informal and underemployed labour market. Regression analysis and the Granger causality test show that dependent unemployment and cost increases are the key drivers behind the negative trend. Empirical data show a decline in net demographic returns: -€35.96 million (2002-2012) and -€89.91 million (2013-2023), indicating that employees are unable to pay dependent expenses, especially in 2022. Regression (R² = 96%) confirmed the negative impact of dependency burden and expenses, while the falling birth rate had only a weak offsetting effect. Granger tests revealed that the size of the dependent population, food expenditures and mortality rates predict future dividend values, confirming the relevance of the planning model. Evidence strongly suggests that without structural reforms in labour, social, and health policies and productivity boosts, Georgia’s demographic trends will continue to hinder economic growth rather than support it.
Conclusions. The study concludes that without targeted reforms in the labour market, healthcare, and economic planning, Georgia will not be able to turn demographic changes into economic benefits. The presented model emphasises the influence of demographic factors on socio-economic development and the importance of aligning demographic trends with effective economic policies