International Journal of Innovative Technologies in Economy

EFFECTS OF COVID-19 ON HUMAN RESOURCE MANAGEMENT FROM THE PERSPECTIVE OF DIGITALIZATION AND WORK-LIFE-BALANCE

Iza Gigauri — 2020-09-05

Extraordinary changes caused by COVID-19 have enforced companies around the globe to accelerate transition to digital business processes. Human resource management (HRM) is in the heart of these transformations helping organizations to navigate in the vague present and unforeseeable future. HRM needs to manage people in companies during the crisis in order to enable business continuity and ensure work-life balance. Since the future will bring more flexible, remote-friendly, digital working norms, the changes in policies, processes, workspaces, collaboration systems, and employee wellness are of increasingly urgent importance.
The paper discusses the challenges HRM is facing due to the current crisis in terms of remote working, and identifies the implications the pandemic has on human resources. The expert interviews conducted in Georgia indicate that HRM should consider ways to develop new policies for hybrid working models as a response to the current pandemic crisis.

FUTURE MARKETING IN B2B SEGMENT: INTEGRATING ARTIFICIAL INTELLIGENCE INTO SALES MANAGEMENT

Koldyshev Maxim Vladimirovich — 2020-09-10

The technological phenomenon of artificial intelligence transforms B2B marketing and approaches to the formation of product value, sales and service. The case study allowed the author to examine and summarize the experience of large companies in integrating artificial intelligence into the sales management system, marketing and service. The article identified three problems of B2B companies’ sales system: incomplete, unreliable data, lack of interaction between marketing and sales systems, dynamic growth of personal data volume. The study proves economic efficiency of the integration of artificial intelligence, which solves these problems. The future of marketing was identified based on the latest trends in the B2B segment. In the future, industrial marketing will be determined by the accuracy, reliability of customer information, a high level of accuracy of demand forecasts, a shortened cycle of trade agreements, increasing level of effectiveness of cooperation between marketing and sales departments. The integration of artificial intelligence into sales management will finally complete the era of digital marketing in the B2B segment and will be the beginning of the era of “human” marketing. The latter will mean that in the context of a regulated digital private B2B data market, marketing will be focused on human needs with an accurate predictable understanding of customer needs.

RESEARCH ON REGIONAL ECONOMIC COOPERATION BETWEEN CHINA AND MONGOLIA

Mavidkhaan Baasandulam — 2020-08-14

Regional economic integration has become inevitable to promote the further development of regional economy in China and Mongolia. Since China’s reform and opening up and Mongolia’s democratic revolution, China Mongolia regional economic cooperation has been developing continuously. This paper summarizes the trend of economic cooperation between China and Mongolia through the analysis of economic and trade cooperation between China and Mongolia and the influencing factors of regional economy.

RESEARCH ON CHINA MONGOLIA ECONOMIC AND TRADE COOPERATION

Mavidkhaan Baasandulam — 2020-08-21

Since 1978, China's economy has opened to the world. Over the past 40 years, China’s capital stock has grown at an annual rate of 6.9%. China began to implement the “Going out” policy in 2002, mainly to promote its overseas investment activities. The Chinese government launched a rescue plan of 4 trillion yuan in 2008, hoping to shift from export led growth to promote the expansion of the internal market. In this paper, China imports to Mongolia have increased year by year, accounting for 33.5% of its imports in 2018. China has pledged to invest globally by 1.25 trillion USD in 2025, and has increased investment in Mongolian mineral deposits. When the Chinese economy was in the “New Normal”, it proposed the “Belt and Road” initiative. To strengthen the connection between the “Belt and Road” and the “Steppe Silk Road” initiative, 32 projects will be implement in Mongolia. After reform and opening up, China has made great achievements. But, the upgrading of industrial structure and technological progress are still slow, economic growth continues to slow down, the aging population is becoming more serious, and the production capacity is seriously surplus. From Mongolia, there are abundant natural resources, and the mining industry is driving economic growth. The economic growth rate is relatively fast, but the industrial structure is single, the evolution of the industrial technology system is stagnation, and the human resources are insufficient, resulting in excessive dependence on foreign trade. The economic situation depends on the neighboring countries, the inflation is serious, and the unemployment rate remains high. Therefore, under such circumstances, China and Mongolia should make good use of the geographical advantages of their neighbors, enhance mutual trust, strengthen economic trade cooperation, maintain the unity of their countries and maintain the strategic balance of international power and jointly create political mutual trust and economic cooperation. This paper takes China Mongolian cooperation as the main research line, and explores new ways for economic and trade cooperation to promote the upgrading of industrial structure and sustained economic growth of the two countries. In addition, as the main component of the “Belt and Road” initiative, Mongolia strengthens economic and trade cooperation with China and promotes the improvement of the level of cooperation between the two countries, and can also achieve long term common development.

EMPIRICAL ANALYSIS OF IMPACTS ON CHINA AND MONGOLIAN TRANSPORT SERVICE TRADE OF INTERNATIONAL COMPETITIVENESS

Mavidkhaan Baasandulam — 2020-08-25

This paper aims to make an empirical analysis of the impact of international competitiveness on China and Mongolia's transportation service trade. First, calculating the RCA competitiveness index, China, Mongolia and some developed countries are compared and analyzed, and then an empirical analysis of the main factors influencing China and Mongolia transportation service trade is conducted, and it is concluded that the port freight export volume increased by 1%, China-Mongolia port freight export volume increased by 0.798%. When the opening of the transportation service industry in China and Mongolia increased by 1%, the export value of the transportation service trade increased by 1.232%. Therefore, the port exports of the two countries have a positive impact on the international competitiveness of the transportation service trade and the opening degree of the transportation service industry in China and Mongolia.

THEORETICAL AND CONCEPTUAL ESSENCE OF STRATEGY AND STRATEGIC BUSINESS MANAGEMENT IN THE MODERN ECONOMY

Peryt Iryna Olehivna — 2020-09-16

The purpose of the scientific research is to study the theoretical and conceptual aspect of strategy and strategic management in the operation of private business, and develop recommendations on their actual interpretation in the modern economy. The methodological aspect of the work is formed by theoretical conclusions and generalizations of the economic science and scientific works on the basis of strategy and strategic management in the operation of private business. The work applies logical, comparative and complex approaches as well as empirical research, comparison and complex analysis methods.
During the research, significant scientific developments regarding the core of strategy and strategic management were analyzed and structured. The aspects of the main structural elements of the strategy were described: policy, tactics, management procedures, planning and budgeting. The essence of the subject (solutions), which are recommended for creating effective business management strategies, is proposed. Scientific approaches to understanding the core of strategic management are studied.
On the basis of the conducted research, scientific approaches to strategy and strategic management are offered to group on the basis of complexity and the consideration of aspects of enterprise activity on: point approaches, approaches of relativity, panoramic approaches. The author's definition of the concept of "strategy" and "strategic management" is presented and the attention is focused on their short-, medium- and long-term perspective.
The scientific value of the research results lies on their focus on solving the problem of searching for the concepts of an effective strategy and strategic business management, which can ensure the competitiveness and improvement of the financial results of the private sector, as well as the growth of the national economy.

SOME ISSUES ON THE SOCIO-ECONOMIC CONTENT OF THE STATE BUDGET AND ITS IMPORTANCE IN SUSTAINABLE DEVELOPMENT

Amanova Nigar Ilham — 2020-08-23

The article discusses the state budget, its economic significance and the importance of budget expenditures for sustainable development. At the same time, a literature review on the formation of the state budget was conducted, and foreign experience was studied. The next section of the article describes in detail the formation of the state budget in Azerbaijan, the dynamics of development and the impact of budget expenditures on sustainable development and makes relevant generalizations.
At the same time, the article also reflects the trends in the human development index in Azerbaijan as a result of measures taken at the expense of budget expenditures.

THE FINANCIAL SYSTEM CHALLENGES OF THE REPUBLIC OF MOLDOVA IN THE PANDEMIC COVID 19 CONTEXT

Viorica Lopotenco — 2020-09-02

This study's main objective is to analyze the challenges faced by the Republic of Moldova in the economic crisis, which was caused by the COVID 19 pandemic. The vulnerabilities of the Republic of Moldova's economy and especially its financial system are related mainly to the specifics of the country's economy, which is small, open, with a continuing current account deficit and a strong subordination to international financial flows.
This study's conclusions consist in the fact that the external risks related to the COVID19 pandemic can be transmitted in the economy of our country through two channels. First, due to uncertain financial conditions in the international economy, difficulties with international financing may arise. Secondly, the vulnerabilities in the economies of the Republic of Moldova's trading partners will undoubtedly influence the slowdown in exports of goods and services