BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

Managerial Decisions in Conditions of Uncertainty of the International Business Environment
Lezhepokova V. G.

Lezhepokova, Viktoriia G. (2023) “Managerial Decisions in Conditions of Uncertainty of the International Business Environment.” Business Inform 7:15–21.
https://doi.org/10.32983/2222-4459-2023-7-15-21

Section: International Economic Relations

Article is written in Ukrainian
Downloads/views: 12

Download article (pdf) -

UDC 339.977

Abstract:
The article is aimed at developing a methodical approach to assessing the favorability of the business environment in the process of making managerial decisions under conditions of uncertainty. The necessity of making sound managerial decisions when an enterprise carries out international activities is proved. It is noted that from the point of view of studying the conditions of international business activity, the concept of uncertainty characterizes a situation in which there is no reliable information about the possible state and trends in the factors of the business environment of the host country. A thorough analysis of the current state and trends in the transformation of business environment factors in foreign markets contributes to minimizing uncertainty. It is underlined that the use of such common global analytical systems for rating economic processes as the Global Competitiveness Index, the Ease of Doing Business Index and the Index of Countries’ Involvement in International Trade to assess the business environment is currently impossible. The author proposes to use the KOF Globalization Index, the Index of Economic Freedom, the Global Innovation Index, and the Human Development Index, which are the result of global studies of the business environment of countries. The general characteristics of each of the indices are provided, development trends are determined, the five leading countries and Ukraine’s positions are presented according to the results of the published ratings for 2022–2023. To assess the country’s favorability in carrying out international activities in terms of uncertainty and instability of its business environment, an approach to calculating the aggregated indicator based on indicators of the KOF Globalisation Index, the Index of Economic Freedom, the Global Innovation Index, the Human Development Index, combined by the PEST analysis methodology, has been developed. The use of the proposed methodological approach will help to increase the thoroughness of managerial decision-making in the implementation of international activities by the enterprise.

Keywords: managerial decisions, uncertainty, international factors, international rating systems, aggregated indicator of assessing the state of the country’s business environment.

Tabl.: 2. Formulae: 1. Bibl.: 11.

Lezhepokova Viktoriia G. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of World Economy, Kyiv National University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

Holovkova, K. Yu. “Informatsiina pidtrymka upravlinskykh rishen u zovnishnyoekonomichnii diialnosti pidpryiemstva“ [Information Support for Management Decisions in the Foreign Economic Activity of the Enterprise]: dys. … kand. ekon. nauk : 08.00.04, 2014.
Hryniv, L. V., and Vachil, O. P. “Metody otsinky efektyvnosti pryiniattia upravlinskykh rishen v umovakh nevyznachenosti“ [Methods of Evaluating the Effectiveness of Managerial Decision-making in Conditions of Uncertainty]. Visnyk Prykarpatskoho universytetu. Seriia «Ekonomika», no. 11 (2015): 292-296.
Kaliuzhna, N. H., and Lezhepokova, V. H. “Reitynhovi systemy otsiniuvannia biznes-seredovyshcha pryimaiuchoi krainy“ [The Rating Systems for Assessing the Business Environment of the Host Country]. Biznes Inform, no. 5 (2020): 70-78. DOI: https://doi.org/10.32983/2222-4459-2020-5-70-78
Osovska, H. V., Semeniuk, T. V., and Osovskyi, O. A. “Upravlinski rishennia ta protses yikh pryiniattia na pidpryiemstvi“ [Administrative Management and Process of Administration at the Enterprise]. Hlobalni ta natsionalni problemy ekonomiky. 2018. http://global-national.in.ua/archive/21-2018/71.pdf
“Doing Business. Archive“. https://archive.doingbusiness.org/en/doingbusiness
“Business Ready (B-Ready)“. https://www.worldbank.org/en/businessready
“KOF Globalisation Index“. KOF Swiss Economic Institute. https://kof.ethz.ch/en/forecasts-and-indicators/indicators/kof-globalisation-index.html
“Index of Economic Freedom“. Heritage Foundation. https://www.heritage.org/index/
“Global Innovation Index“. World Intellectual Property Organization (WIPO). 2022. https://www.wipo.int/global_innovation_index/en/2022/
“Human Development Report“. United Nations Development Programme. 2021-2022. https://hdr.undp.org/content/human-development-report-2021-22
Melnyk, M. I., and Zalutskyi, I. R. “Vyokremlennia hlobalizatsiinykh chynnykiv sotsialno-ekonomichnoho rozvytku: kontsept endohenizatsii“ [Identification of Globalizing Factors of Socio-Economic Development: The Concept of Endogenization]. Rehionalna ekonomika, no. 1 (2022): 14-30. DOI: https://doi.org/10.36818/1562-0905-2022-1-2

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster