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Lean Management (LM) has been presented as a one of the methods for improving the competitiveness of manufacturing companies. Today, observations show that, despite the many benefits of implementing LM tools, relatively few companies make a decision to -employ them. Although considerable research has been devoted to lean manufacturing, rather less attention has been paid to conditions of its implementation. It is important to know the drivers and barriers of the implementation of lean, however, diverse business co...

The main purpose of this research is to identify different methodological approaches that can be used in economics to evaluate environmental resources that are integrated in tourism product. Environmental resources form essential physical plant for tourism development. It would be almost impossible to imagine tourism product that does not integrate, directly or indirectly natural resources. Strong expansion of tourism development, reflected in significant increase in number of international visitors, same as accep...

In terms of technological approach to the definition of information society, an important aspect in the formation of human capital is the development of technological innovations and their impact on human capital. Level of human capital amenities is becoming a key factor in the economic growth of the country. In terms of information society, there is a fundamental change in human capital, as a result of the introduction of new technologies. Innovation can bring transformation in job skills, work organization and i...

The article presents the essence and importance of labour productivity, which is the primary indicator for the assessment of the competitiveness of countries in the international market. The aim of the work is the analysis and evaluation of labour productivity in Poland against the background of the countries of the European Union and international statistics. The results of the research and analysis presented concern activities and courses of action within the framework of the Polish labour productivity growth st...

The need to modernize the system of interagency interaction in the context of an increase in external and internal threats in the production, turnover and retail sale of alcoholic beverages accounts for the topicality of devising the methodological base and identifying mechanisms and building the system of measures for state regulation and development of the regional alcoholic beverages market. A comparative analysis was used to reveal the relationships between the authorities of the constituent entities of the Ru...

In the article the questions connected with research of a modern condition of ecological tourism and prospects of its development in Russia are considered. To date, environmental tourism is one of the most promising and rapidly developing sectors of the tourism industry, occupying one of their leading positions. The methodological basis was the work of domestic and foreign scientists studying the problems of ecological and rural tourism and the development of special protected natural areas of Russia. In this cont...

This article presents the main research results of the needs of the Russian tourist destinations in the development of friendly projects. Since 2014 there have been significant structural changes in the structure of inbound tourism in Russia. The greatest growth often shows the tourist flows from the countries of the Asian and Pacific region. Practice of information search, choice, and behaviour in the visit of tourists from these regions are different from the habits of the Russian and European tourists. It is ob...

The results, the work aims to transform the world through culture, to urge tourists to travel to knowledge, to educate in terms of culture and civilization of vine and wine, heritage and national identity. Knowledge economy requires an interdisciplinary approach to data and information. As a result, knowledge becomes the essential component of any economic development, regardless of the field. Consumer needs of tourism are growing, growth causing continuous adaptation of tourism through innovative products aimed a...

Objective: To describe the dynamics of the joined currency and stock markets system in Russia and study the behavior of significant unobservable components of system state, in particular the dollar investment in the Russian currency. System structural model is proposed in which the main short-term control variable is the price of oil and when investing in currency rubles mass is taken from the stock market and vice versa. We use logarithms to obtain a linear relationship between due output vector and state vector....

The purpose of the research is to compare the main two important stock market indices for the Tokyo Stock Exchange: the Nikkei Stock Average Index (NIKKEI 225) and the Tokyo Stock Price Index (TOPIX), both from the composition, calculation methodology and base value, but also taking into account the changes in volatility using the asymmetric Generalized Autoregressive Conditionally Heteroscedastic processes. The paper tracks the application of time series analysis in financial markets. To do this, I chose the Toky...

One of the main characteristics of the Russian economy is mixed, which results in the coexistence of enterprises and industries with different technological development levels. The predominance in the economy sectors using technologies of the third and fourth technological structures determines the necessity of measures industrial policy development ensuring the balanced development of the industrial complex. The economic potential development of territorial-industrial complexes based on the interaction with devel...

For a long time in economic science, it has been assumed that economic evolution is developing along a trajectory: the agrarian economy - the industrial economy - the post-industrial economy. The crisis lines of the 20th and 21st centuries forced us to change our view on this issue. De-industrialization occurred in a number of developed countries of the world. It caused a crisis in the economy. Therefore, there was a need to develop a new concept. This is the concept of a new industrial society. The purpose of the...

Russia-USA economic relations are subjected today to new realities, which imply a combination of effects, including geopolitical situation in Crimea and Eastern Ukraine, mutual economic sanctions that coincided with other negative phenomena in the Russian economy, such as the dramatic drop in oil prices and depreciation of rouble. These events have seriously affected trade and investment statistics with USA. During last years U.S.-Russia economic ties were relatively limited and now they are decreasing. The USA is...

One of the main goals of the state economic policy is to increase the level of the human wellbeing. Population is an important part of any economy, demographic policy is an important part of economic policy. Nevertheless, the directions of this policy differ significantly in all the countries depending on the prevailing conditions. In some countries, programs aimed at population growth are the priority, in others the policy is focused on population regulation. Over the past 50 years, the world’s population has inc...

The rapid development of scientific research, involving numerous improvement of production processes, technologies, management practices, determines the necessity of personnel of appropriate qualifications involvement. The change of generations of technology in the production activities occurs, according to various estimates, every 5-10 years. This means that the education received by plant personnel 10 years ago, is outdated and does not meet the requirements of the moment. And this, in turn, implies the need for...

Employees’ appraisal belongs among one of the most demanding and sensitive management tasks in many organizations and therefore some managers deliberately avoid this activity and consider it to be unnecessary and administratively burdensome. The aim of the article is to explain the very important issue of the evaluation of employees - environmentalists in organizations. The difference between the performance management and the performance appraisal is explained and the roles and responsibilities of specialists in ...

In a socially-oriented state, the welfare is a key area of socio-economic development. The authors defined the place of economic security in the system of the welfare of individual and the area of residence. The article examines the risks posed to the welfare of individual and the area of residence in the Russian regions. Based on a comparative analysis of studies related to various aspects of risks, the authors proposed a classifier of risks for the welfare of individual and the area of residence (risk of poverty...

The model of human activity in spheres of vital activity is presented. The social, industrial and ecological spheres of human activity in the Arctic micro-territory were chosen. The model in the formalized form is a system of six econometric equations. As the Arctic micro-territory, the Nenets region of the Russian Federation was chosen. Each sphere of human activity is estimated by indicators. The human development potential is assessed by the human development index. The notion of sustainable development in the ...

Now studying of innovative process is connected with research of model of the open innovation. This model answers calls of the modern market, allows to keep the speed of development of new products demanded in today's conditions. It works on the principle of broad cooperation with third parties: customers, suppliers, research institutes, laboratories and competitors. Inside the company, the work is based on the integration between the departments involved in the innovation process, using different tools, such as i...

Modern experienced society calls for new ideas and projects that are implemented to ordinary life and its activities. There is no difference in tourism. Through developing new products, regional visits can be supported and bring new tourists to it. Paper brings theoretical overview of regional development based on innovation implementation. The main purpose of the paper is to point to the necessity of innovation implication while developing the region. It points out the theory of regional development with combinat...

An important link between the volume of investment activity and economic growth is represented by the structure of investments implemented into innovations. Innovations are lately widely discussed issue, because without them economy will not be able to compete with foreign production. A lot of money is being spent on innovations in companies but also on the whole national economy. Therefore it is important to determine whether these funds are spent effectively and efficiently. Requirements for efficiency in invest...

In the present paper, the authors study practice of public participation in the budget process in the Russian Federation and analyze huge material thereon for the period from 2007 till 2017. Particular attention is paid to participatory budgeting (PB) as a dynamically developing form of public participation and civil initiatives. With the account of the world experience of PB use, the authors investigated the problems of participation thereof in the Russian Federation exploring in detail implementation of RB in Sa...

The steepness of the bond yield curve should be an excellent indicator of a possible future economic activity. A rise in the short rate tends to flatten the yield curve as well as to slow down real growth the near term. The relationship between the spread and future GDP activity was proved already before. This paper aims to analyse the dependence between slope of the yield curve and an economic activity of selected countries between the years 2000 and 2016. The slope of the yield curve can be measured as the yield...

The importance of accounting profession in modern capital markets is unquestioned as owners, managers and potential investors make decisions based on the products of accounting system. The correctness of these decisions undoubtedly depends on the quality of work performed by accounting professionals. An analytical study design was implemented in order to formulate the results of the study and to test the hypothesis that in the presence of free service provision idea, the accounting profession is not regulated in a...

Strategic objective of state policy is reliable providing the country with fuel and energy resources, increase in efficiency of their use and decrease in anthropogenous impact of fuel and energy complex on the environment. The appropriate measures aimed at providing energy saving and increase in energy efficiency are necessary for achievement of this purpose; ensuring need of domestic market for reliable, high-quality and economically reasonable supply with the electric power and heat; development of oil and gas a...

Information asymmetry is the most significant factor slowing down the financial market development, that exists at the moment in Russian economy, which is due to the lack of reliable financial statement information for investors. The main reasons for the current situation are the increase in the number of attempts and the variety of methods for falsifying the public companies financial statements. Therefore, an external audit conducted to increase investor confidence in the reliability of public companies' financi...

Since 2007 Eurozone countries have been in economic crisis. Some countries have had negative growth and massive unemployment, especially youth unemployment, all countries have experienced low growth rates, and some have had financial crises with unsustainable private and public debts and sky-high borrowing rates. All of this has caused huge political and social upheavals. The paper describes theory of real business cycle also describes arise and the course of global financial and economic crisis. The Global Financ...

Brand management is proven to be a key factor to success worldwide. Although very clear and understandable from a theoretical point of view, when it comes to business practice brand management can be a very challenging activity, especially in markets such as the Republic of Macedonia. This is understandable having in mind that brand management, among other aspects, includes costumer perception on product value and therefore plays a vital role in customer satisfaction and even customer loyalty. Brand management inc...

The banking channel of sales in insurance services (bancassurance) belongs to intermediary sales channels of insurance company and plays one of key roles. Bancassurance development is of special interest due to the lack of free access of participants insurance the relation to information resources. At the same time the insufficient number of analytical researches in this area is conducted. The Russian insurance market in connection with the crisis phenomena in economy undergoes changes, participants of the market ...

The development of VAT revenue in the Slovak Republic depends on its macroeconomic base, which is mainly affected by the final consumption of households. In the Slovak Republic, the final consumption of households accounts for more than a half of GDP. Since 1993, VAT revenue has been increasing on a year-to-year basis from 911 million euros to 5.5 billion euros in 2015, except 2009 when there was a sharp decline due to the crisis. In this period, the VAT share in total tax revenue of the state budget increased fro...

The problem of poverty has always been considered as one of the most topical problems in Russia. The poverty threshold is legally fixed at the subsistence level, which, unlike similar indicators in other countries, does not meet the requirements of human needs satisfaction at the appropriate level. Since 2012 the population with income below the subsistence level has been steadily growing while income spread has been constantly increasing. It is due to peculiar features of the Russian social policy model that this...

The paper surveys the Czech banking sector from the perspective of corporate financing. The article presents the current state of the Czech financial market, and the importance of the banking sector for the economy. The questionnaire survey investigated main trends in the use of various products offered by the banking sector for financing, satisfaction of companies with banking products and overall confidence of business customers in the banking sector in the Czech Republic. Results of investigation and empirical ...

The years of negligent attitude and scarcity of financial resources at the disposal of local self-governments have intensified the processes leading to the degradation of urban areas. As a result, many cities and towns are not only adversely affected by the deterioration of technical infrastructure but also suffer from the lowering of the standard of living. Therefore, it should be considered necessary to reinvigorate degraded urban areas with the intention to improve the quality of life of the inhabitants of revi...

The paper is aimed on lifelong learning of the adult population and assessment of the influence of selected determinants on participation in lifelong learning within the European Union Member States. Governments invest in education to help foster the economic growth, enhance the productivity, contribute to the personal and social development or reduce social inequality. A lack of skills strengthens the risk of unemployment and the differences in skills have an impact on earnings. Higher levels of educational achie...

During the last decades one can notice a positive effect of tourism activities in rural or remote areas, tourism managing to induce economic development in peripheral spaces where primary activities like agriculture, low industry or craftsmanship were not economic profitable anymore. Positive role of tourism activities in rural areas can be translated into different ways, like the increase of well-being, stabilization of population in exodus localities, bigger resistance towards financial crisis, and even a growth...

Assessment of the influence of fundamental factors of the knowledge economy development that have a specific refraction at the subregional level and assessment of the impact of the existing structure of human and physical capital in the resource regions of Russia on the scale of economic growth in the context of transition to the postindustrial information society and knowledge economy are carried out in the research paper. Intensive industrial development, primarily based on the increase of the scope of natural r...

In Russia a new qualification evaluation system has entered into operation and professional standards are being introduced into practice. This new qualification evaluation system assumes an independent state estimation of employees to meet the required qualifications reflected in the professional standard. The professional standard is a normative legal act approved by the order of the Ministry of Labor and Social Protection of Russia, and it reflects the requirements for education and the necessary competencies, k...

Migration today is a worldwide phenomenon that plays an increasingly central role in economic development. The signing of free trade agreements in the early nineties, such as the Schengen Agreement (1985) or NAFTA (1995), increased mobility and encouraged movements between signatory member countries’ populations. At the same time, improvements in transportation and communication infrastructures have also tended to increase net migration, making it not only the most important demographic aspect, but also a key to u...

Direct relationship of the development of foreign trade and FDI was confirmed by a correlation analysis. The coefficient of correlation was 0.97. A strong relationship (R=0.97) showed between the turnover of foreign trade and GDP, as well as between the share of export and GDP, and the share of import and GDP, where the coefficient of correlation reached the value of 0.99. The GDP growth rate indirectly affected the unemployment growth rate. The relationship between these parameters was weak, as the coefficient of...

Functioning of the modern economy and society is unthinkable without a well-functioning banking system. The modern commercial banks are key component of the financial system because of their role and position in the credit intermediation in our country. They are financial mediators who operate not only with their own funds, but above all with public capital. Banks buy and sell money by accepting on different accounts the free funds of their clients and grant them to those customers having need of. Banks earn from ...

Air transport is currently one of the fastest-growing service sectors. People constantly travel for various reasons (tourism, business) to distant locations worldwide. Consequently, analyses of data concerning both passenger and cargo air traffic is of great importance in designing development strategies for regions with airports in their resources. The main purpose of this study is to prepare a forecast of air passenger transport in the one of the airport which is located in south-western of Poland. There are ver...

The main objective of this paper is to design mechanisms that would be applicable as solutions in the current economic conditions of the Slovak Republic to increase the sustainability of the first tier of the Slovak pension system. The wrong genetic code of the first tier, which was based on a pay as you go philosophy, was a significant cause of the annual increase of public debt. Part of the objective is also to analyse current approaches to the pension system with a focus on the history of political intervention...

The main objective of this study is to find out the impact of labor force emigration abroad on labor market in the country of origin by means of a dual approach. Solving this problem required an analysis and assessment of specific contexts in labor market trends - employment, unemployment, wage levels, the number of free jobs and labor emigration. Several economic criteria are developed in the study and the effects of labor emigration on labor market are recalculated by means of mathematical calculations. The impl...

The article reveals the essence of the region's innovation infrastructure as a factor in increasing the efficiency of industrial enterprises. The relevance of the topic is due to the fact that the path of innovative development of industrial enterprises in the Russian Federation, based on knowledge, on the change in the economic structure in favor of high-tech industries, to increase human capital, becomes the only possible way of development in the modern economics. Today, innovation is a component of the busines...

Recent changes in the business environment exposed the insufficiency of financial data traditionally presented in financial statements. Available researches emphasize that recipients of financial statements demand comprehensive data about the business activity. Modern accounting faces the formidable challenge to reflect company’s values not only by financial data but also by non-financial disclosures. The need for non-financial data disclosures has also been noticed by the Institutions of the European Union. The a...

In the age of globalization, international loans and sovereign default probabilities have become one of the main topics of finance. Many severe economic crises have occurred on financial markets in the last decades. Therefore, the problem of measuring countries’ default probabilities due to their external debt obligations has attracted the interest of many researchers. In recent literature there are many studies that use quantitative methods and machine learning techniques to predict countries defaults. Past studi...

The article substantiates the role of education, proposes and confirms the hypothesis about the importance and necessity of social partnerships for financing and development of education in knowledge- driven economy. To confirm the advanced hypotheses we studied the evolution of concepts of social interaction and social responsibility to justify patterns of social partnerships in the knowledge-driven economy that allowed us, using the model of "triple helix", to show the necessity of the collaboration of governmen...

The development of transport infrastructure is an important factor in the economic growth of the territory. The ability to predict the transport demand and traffic on the road network is vital for development of regional and urban transport system. Agent based modelling has emerged as a practice tool of traffic and transport planning in re-gion and urban area. The purpose of the research is to assess the possibility of using agent based models for transport planning in Russian regions and cities. In order to reach...

Social value is an issue of crucial importance for comprehension of nascent forms of both social entrepreneurship and hi-tech business. In this paper I intend to substantiate the historically heterogeneous types of values created by entrepreneurs and to identify the distinguishing features of social value and modi of its creation. I resort to enactivist theory; the theory of regulative, normative and cognitive pillars of institutions; and the actor-network theory. According to the latter, socially constructed obje...

In recent years, European countries have become increasingly desirable immigration destinations. Europe recognizes that good immigration management is a cure against the demographic problem. This is one of the possible solutions for our country to tackle the demographic deficit in our economic development. A working population is a valuable source of tax revenue. Having enough working-age population is vital not only for the economy but also for tax revenue. This money is needed to finance the retirement and healt...