PARTICIPATIVE MANAGEMENT AS A TOOL TO ENSURE STRATEGIC DEVELOPMENT OF ENTERPRISES

The main focus of this article is on the correlation between employee involvement in management decisions and the growth of both the organization and employees in all areas. The types of managerial behavior are analyzed, within which the main styles are identified, such as: authoritarian and democratic, as well as the advantages and disadvantages of each of them, their impact on the workforce and behavior. The article reflects the need to involve employees in order to improve performance and a sense of responsibility, and lists not only the positive side of this implementation, but also possible negative changes. Effective communication and involvement of staff in management decisions create a basis for ensuring the effective functioning of the enterprise. Involvement of employees, in this article, is not seen as a goal or tool, as is practiced in many organizations, but as a philosophy of management and leadership on how best in a healthy environment to realize their abilities, grow, improve and succeed in each unit and organization in general. The article discusses the main forms of participatory management: informal and short-term participation of personnel in management decisions, consultative involvement of employees, attraction of employees to ownership, involvement of employees in control and improvement of processes, involvement of personnel in decisions about company policy, participation in the organization's income, participation in profits of the organization, participation in the management of the organization. A distinctive feature of this method from many systems of remuneration for labor activity is that the latter are built on the recognition of the contribution of an employee of a given organization at the individual level. Participatory governance is based on the recognition of interests all personnel being reciprocal. This leads to the fact that there is an integration of these interests, and workers become more interested in the results of their work. Involving employees in the decision-making process not only reduces outsourcing, which saves money, time and offers the company long-term reliable assistance from employees who have knowledge of all the processes and deep needs of the corporation.

INVESTMENT SECURITY IN THE SYSTEM OF ECONOMIC SECURITY OF THE STATE

In modern conditions of functioning of the market economy, in the era of development of globalization and globalization processes, the prevalence of international relations, the spread of various forms of international capital movement, in particular foreign direct investment, an important place is occupied by investment activities and policies implemented by the state within the framework of the latter. It is difficult to overestimate the importance and role of investment, because world experience shows that the effective development of business entities, and therefore the country's economy as a whole, cannot be imagined without making investments. Therefore, the government of almost any country in the world is focused on creating a favorable investment climate. The article defines the theoretical foundations of investment security of the state: the essence of the concept is outlined, the principles on which investment security is based, its place and role in the state's economic security system are justified. Qualitative and quantitative criteria for a comprehensive assessment of the state's investment security are presented. The calculation and analysis of the main indicators – quantitative criteria of investment security: gross accumulation of fixed capital; the degree of accumulation of fixed capital; the ratio of the cost of newly introduced fixed assets to the volume of capital investments is carried out; the ratio of net growth of foreign direct investment to GDP; the size of the Ukrainian economy as a percentage of global GDP. The dynamics of the total volume of foreign direct investment in the Ukrainian economy in the context of world countries is analyzed. The main investor countries that ensure the receipt of the largest volumes of investment flows to the Ukrainian economy are identified. Ukraine's place in the World Bank's “Doing Business” rating over the past ten years has been demonstrated. The positive dynamics regarding Ukraine's place in the World Bank's “Doing Business” rating and the main factors that influenced such positive changes were noted. The investment climate of the state is assessed and possible measures are proposed to improve the mechanism of managing the state's investment security.

DEVELOPMENT OF AN ALGORITHM FOR INCREASING THE COMPETITIVENESS OF INNOVATIVE ENTREPRENEURS ON THE BASIS OF THE OBTAINED EVALUATION RESULTS

Numerous studies in the field of development of national and international policy measures in the field of ensuring the dynamically sustainable and balanced development of national economic systems and the global economy as a whole are devoted to the issue of increasing the competitiveness of innovative entrepreneurs. In market conditions, the high competitiveness of innovative entrepreneurs is the key to high and stable profits. In this article the author investigates and proposes a system of factors that determine the competitiveness of innovative entrepreneurs. Taking into account the studied theoretical, methodological and practical sources on the stated topic of the presented dissertation research, the author proposes to consider the influence of conditions and factors influencing the formation of competitive potential of innovative entrepreneurs in the internal and external context. Also, the author draws attention to the need of understanding that the presence of competitive potential in the subject of innovative entrepreneurship does not mean that it has unconditional competitiveness, management must have key competencies in order to turn competitive potential into competitive advantage,. In this regard, it is necessary to develop and form a methodology for assessing the competitiveness of innovative entrepreneurs, which, inter alia, will show whether the management of the entity has the necessary key competencies. In connection with the above, we can say that the factors that affect the formation of competitive potential may contribute to, and may counteract the receipt of the necessary (necessary) economic and other effects (business rents) from the main and other activities of the sub object of innovative entrepreneurship. Speaking about classification of conditions and factors influencing the formation of the competitive potential of the subjects of innovative entrepreneurship, it should be noted that a single classification approach currently does not exist. Thus it is possible to allocate some basic approaches to classification in scientific domestic and foreign literature.

FORMATION OF THE CAPITAL STRUCTURE OF THE ENTERPRISE

The article reveals the role of the process of attracting sources of funding for activities. Depending on the source of financing and the method of attracting them, three main financing mechanisms are identified: counterparty, credit and capital market. The peculiarities and advantages of some ways of attracting financing are identified and analyzed. Also, the mechanism of planning of attraction of financial resources considering a real financial position of the enterprise is formed. It is proved that in conditions of fierce competition the company's growth rate has a key impact on the factors of the company's continued existence in the market. The formation of a base for attracting investment in advance provides a stable and affordable source of funds for further expansion. An algorithm for forming the capital structure considering the current financial and economic condition of the enterprise has been developed. Opportunities for the company's growth are directly related to the availability of financial resources that can be obtained from various sources. The decision to use certain sources influences time and financial costs for obtaining and securing borrowed capital and for the diversification of government entities over the company, which to some extent pursue their own goals. Therefore, when building a financial strategy of the enterprise it is important to rationally and pragmatically approach the definition of ways to use financial resources and combine different sources of business financing. The effectiveness of the entire financial strategy of the enterprise largely depends on how correctly and in detail the choice of capital structure was worked out. Using the company's management of the proposed algorithm for the formation of capital structure optimization stage, as well as in the implementation phase of expansion with external sources funded, will allow the company to better attract and use the attracted financial resources without losing the investment attractiveness for future creditors and investors and not losing trust from other financially interested stakeholders.

PROBLEMS OF ENSURING THE FINANCIAL SUSTAINABILITY OF THE BANKING SYSTEM

The article explores the problems of ensuring the financial sustainability of the banking sector, which plays a very important role in the functioning of the financial system of the state. The role of the stability of the banking system in ensuring conditions of economic growth is justified. It is noted that it is the financial stability of each banking institution that is a prerequisite for the stable functioning of the entire banking system. It is emphasized that since the financial stability of the banking system is influenced by a large number of internal and external factors, for the effective functioning of the banking system of the country must be ready for any challenges to the macro and microenvironment. The main problems of the banking system in modern conditions should be considered the reduction of deposits of the population, deterioration of the quality of the loan portfolio, significant devaluation of the hryvnia, high inflation rates, loss-making of a significant number of banking institutions. It was concluded that the banking system of Ukraine feels a significant dependence on the funds of depositors - individuals, and therefore on factors that affect their behavior in the financial market. Trends of formation of deposit base of commercial banks of Ukraine and imbalances in the sphere of attraction of banking resources were analyzed. The growth of bank deposits of the population is slow, negative changes in their structure are observed. The share of deposits of individuals after the 2014 crisis has become significantly more volatile and risky in terms of financial stability. The increase in lending is complicated by the presence of large portfolios of problem loans, as a result of which there are a number of tasks to increase the efficiency of the loan portfolio, which should ensure a compromise of profitability, liquidity and credit risk acceptable to the bank. The priorities of monetary policy and the main tasks are formulated, the solution of which will allow to intensify lending to the real sector of the economy. Theoretical and practical recommendations have been developed to improve bank lending, increase the profitability of the banking system and capitalize Ukrainian banks.

STUDY OF RISKS IN THE INTERNATIONAL MARKET OF TOURIST SERVICES CAUSED BY THE PANDEMIC AND PLANNING OF MEASURES TO OVERCOME THE CRISIS BY INCREASING THE LEVEL OF PROFESSIONAL MOTIVATION OF STAFF

The article considers the risks of the international market of tourist services in a pandemic and measures to overcome the crisis by increasing the level of professional motivation of staff. Study of losses of the tourism sector in the EU in April-May 2020. Decrease in EU revenues in June 2020. The impact of risks on the development of the international tourism industry from the implementation of anti-epidemic measures with COVID-19. Uncertainty and the predominant risks and duration of pandemic constraints are key to determining losses in this sector. The reasons for job losses in the tourism industry during the study period are investigated. The analysis of dynamics of outbound tourism for the period of introduction of quarantine restrictions is carried out. The reasons for the decline in demand for domestic tourism have been identified. The negative dynamics in the labor market of the tourism industry and its cause are determined. The expediency of Ukraine’s participation in international tourism relations has been proved. The tourism industry of Ukraine has been studied and the priority directions of its development that have developed under the current conditions have been revealed. The level of employment during the implementation of measures caused by the pandemic was studied. It is determined that an important problem is the high level of informal employment in the tourism industry. It was found that in the current situation in Ukraine at the current stage of its development, the problem of raising the level of professional motivation of staff has become important, because solving the challenges facing society is possible only if you create an appropriate motivational framework that can motivate employees to effective work. It is proved that in modern conditions in Ukraine at the present stage of its development the problem of increasing the level of professional motivation of staff has become important, because solving problems facing society is possible only if you create an appropriate motivational base that can motivate employees to work effectively. The efficiency of economic and non-economic methods of motivation of tourism workers is compared. The expediency of using a personalized approach to the choice of methods of professional motivation of employees is determined. Ways out of the crisis by increasing the level of professional motivation of staff are proposed.

DEVELOPMENT OF UKRAINIAN-CHINESE ECONOMIC COOPERATION IN THE CONTEXT OF REALIZATION OF NATIONAL INTERESTS OF COUNTRIES

The article considers the analysis of Ukrainian-Chinese cooperation at the present stage. Ukraine's partnership with China is one of the most important strategic components of successful economic development. The dynamics of key commodity positions of Ukrainian-Chinese trade, the Ukraine-China trade complementarity index and Ukraine's foreign trade in services with China are analyzed. It is studied that there is a significant need for Ukraine to attract external financing, and China is one of the potential partners for this. In particular, Chinese leaders welcomed Ukraine's signing of an association agreement with the EU and considered Ukraine's participation in the construction of a «new economic belt - the Great Silk Road,» a personal initiative of the Chinese president. Promising areas of Ukrainian-Chinese cooperation have been identified. Ukraine's interests in cooperation with China have been identified, namely the attraction of foreign investment, which will help boost economic growth in the country and create new jobs. The sphere of China's interests in Ukraine has been determined, namely the possibility of attracting Ukrainian technologies to the Chinese market with the help of a production site located in China. This is identified as a significant threat to Ukraine, as Chinese partners will master Ukrainian technology in 5-7 years, and the need for Ukrainian partners will disappear. Moreover, there is a threat of irrational use of land resources, which can lead to depletion and reduced quality. To avoid the negative consequences of economic cooperation with China, Ukraine must develop a strategy of economic partnership that will ensure the satisfaction of national interests. It was found out that there is science and technology for cooperation between Ukraine and China. Effective modernization of the Ukrainian economy and its adjustment on the world market production, investment and scientific and technological capabilities of China can be an important resource for Ukraine in the development of relevant sectors of the economy, an impetus to restore our country's position in world technology markets.