International Journal of Innovative Technologies in Economy

WAYS OF INCREASING THE COMPETITIVENESS OF FOOD INDUSTRY ENTERPRISES

Farid Babayev — 2023-11-04

Purpose. The purpose of this study is to provide food industry professionals, entrepreneurs, and stakeholders with valuable insights and actionable strategies to enhance the competitiveness of their enterprises. By exploring various approaches and methods, we aim to empower individuals and organizations within the food industry to thrive in a highly dynamic and competitive environment. Through this study, readers will gain a deeper understanding of the critical factors influencing competitiveness and learn practical ways to stay ahead, adapt to consumer trends, optimize operations, and foster innovation within their food businesses. Ultimately, our goal is to facilitate the growth and sustainability of food industry enterprises in an ever-evolving market landscape.

Results. In the dynamic food industry, competitiveness is pivotal for survival and success. It goes beyond mere participation; it's about thriving amidst intense competition, meeting consumer expectations, and outperforming rivals. Competitiveness is defined as a food enterprise's ability to strategically position itself, surpass competitors, and consistently exceed consumer expectations. Key factors in competitiveness include maintaining stringent quality and safety standards, ensuring operational efficiency and cost management throughout the supply chain, continuous innovation and product development, understanding evolving consumer preferences through market research, and fostering efficient supply chain management through strong supplier relationships, inventory optimization, and logistics. To bolster competitiveness, companies invest in improving product quality and safety through Quality Assurance programs and adherence to regulatory requirements. They also prioritize cost efficiency strategies such as lean manufacturing, supply chain optimization, and sustainability initiatives. Additionally, innovation and product development efforts focus on consumer-centric design, R&D investments, and strategic new product launches.

Scientific novelty. The scientific novelty of this study lies in the comprehensive synthesis and application of multidisciplinary strategies for increasing the competitiveness of food industry enterprises. While previous research has explored individual aspects of competitiveness, such as quality control, cost efficiency, or market analysis, this article uniquely integrates these facets into a holistic framework. By doing so, it offers a novel perspective on how food businesses can thrive in a complex and ever-changing environment.

Practical value. The practical value of this study is twofold: it empowers food industry professionals with actionable strategies to enhance competitiveness, helping them stay ahead in a rapidly changing market. Additionally, it provides insights into risk mitigation and resource optimization, enabling businesses to navigate challenges effectively and maximize profitability.

TRENDS IN THE DEVELOPMENT OF THE LABOR MARKET IN THE REPUBLIC OF ARMENIA

Taguhi Armen Barseghyan — 2023-10-23

The topic is relevant in that 2020 was a turning point for the labor market of the Republic of Armenia, given the consequences of the Covid-19 pandemic, and then the war. In this sense, it can be argued that a great crisis is expected in the labor market itself, since one of the characteristics of this market is that in its center there is a person offering his job.

The object of the study of the article is the system of regulation of employment in the labor market of the Republic of Armenia, and the goal is to develop a new regulation model based on the results of a multifaceted analysis of the labor market of the Republic of Armenia, as well as the implementation of forecasts for changes in the number of employees by institutional sectors of the economy and types of economic activity for 2023-2030. To achieve the goal, the following tasks were proposed and solved:

The dynamics of the number of employed in different sectors of the economy was analyzed: industry, energy, construction, trade and services.
A correlation model was developed, the results of the correlation analysis were evaluated and presented.
The forecasts of changes in the number of employees by institutional sectors of the economy and types of economic activity for 2023-2030 have been made.

DEVELOPING ENTREPRENEURIAL SPIRIT TO COPE WITH UNCERTAIN CHALLENGES

Johannes Buntoro Darmasetiawan — 2023-11-10

The world is not all right recently. There are many issues that happen recently that create a lot of changes at the business environment. There is nothing that business organizations can do, except to adapt with the changes. While all organizations may already aware that “what does not change is the change itself”, the organization member, nevertheless, feel tired to continuously adapt with the changes that not only come more frequent, but also bigger in magnitude. Entrepreneurs are usually tougher to face these changes. They even see the changes as the opportunity to fill the opening of market niches with their products or services. The spirit of not giving up that entrepreneurs have is named by the authors as “Entrepreneurial Spirit”. While Entrepreneurial Spirit is often owned by entrepreneurs for the sustainability of their business, organization members (who are employees) may also utilize the spirit to make their organizations keep afloat during the turbulent business environment. Unfortunately, entrepreneurial spirit is abstract and cannot be explained by the weight, color, or size. It can only be described by their elements. The authors name the elements as: seek for improvement, discipline, persistence, and hard work. Acquiring Entrepreneurial Spirit can only be done through practice and determination.