Risks of foreign economic activity are a key factor that should be taken into account when making management decisions, since they directly affect the final financial result of a company and the prospects for its strategic development. The article examines the main tools used in the global practice of risk management in foreign economic activity, with a focus on the advantages and disadvantages of their application. Risk management in foreign economic activity involves identification of risks from the general population and development of ways to minimise the economic losses associated with them with the help of appropriate tools. The article provides techniques and methods of risk management in foreign economic activity and describes automated systems used in the world practice of risk management. The most common tools used in risk management are allocated: probability and impact matrix, risk data quality assessment, risk identification, SWOT-analysis, risk register, root cause analysis, decision-making, risk taking, risk reassessment, brainstorming, risk monitoring, Delphi technique, checklists, reserve analysis. The disadvantages of the tools used are the subjectivity of users’ judgements, the labour intensity of the process and the need to process a significant amount of information. The article also reveals the advantages and disadvantages of using automated tools used in risk management, in particular, such as: Mitratech Alyne, Corporater, Splunk Enterprise, Resolver, Cority, Lockpath Keylight Platform, Diligent, Essential ERM and SAI360. It has been determined that an important advantage of many platforms is their focus on GRC (Governance, Risk and Compliance), which is aimed at managing risks in accordance with the organisation`s business goals and in compliance with legal, regulatory requirements and industry standards. Other advantages include continuous real-time monitoring functions for prompt decision-making and the ability to integrate with other business intelligence tools. The main disadvantages of the automated systems in question are the complexity of use and partial unsuitability for small businesses, the need for additional staff training, and the lack of transparent pricing for most programmes.

The negative impact of resistance to organisational changes on the efficiency of organisational and managerial restructuring of enterprise was substantiated in the article. This is due to the significant expenditure of resources to overcome resistance. It was found that the most common methods of ensuring the effectiveness and efficiency of restructuring were aimed at overcoming resistance to change. It was substantiated that increasing the readiness of staff for organisational change has a positive impact on the effectiveness of restructuring, if it was accompanied by staff commitment to the organisation. The levels of commitment to the organisation were analysed and it was proved that the involvement of staff in the life of the company can be an instrument for improving the efficiency of restructuring. At the same time, job satisfaction and employee loyalty to the organisation are components of staff engagement. The author proposes directions of formation of drivers of increasing staff engagement, which include: alignment of personal goals with the goals of the organisation, corporate culture, interaction and communication. As components of the first area, satisfaction with working conditions, professional and social recognition, professional and career growth were proposed. The transformation of corporate culture was proposed to be aimed at strengthening such values as labour productivity, leadership, and teamwork. These directions of formation of drivers for increasing staff engagement should be implemented on the basis of transformation of the enterprise's motivation system. It was substantiated that the components of interaction and communication, in addition to the developed feedback from the company's employees, should include those that ensure the possibility of forming staff engagement even before the recruit starts working in the company with subsequent onboarding, as well as maintaining communication with employees who have left but may be useful to the enterprise. This direction of forming the drivers of staff engagement should be implemented through appropriate changes in the enterprise's communication system.

The article analyzes the grant opportunities of the international technical assistance project "Best Available Techniques and Management Practices for Ukraine" implemented by the Society for International Cooperation (GIZ) on behalf of the German government. It is demonstrated that the project is aimed at business companies in Ukraine that seek to eco-modernize their production facilities. The study analyzes the main objectives and priorities of the Project and its grant program, in particular; identifies the peculiarities of participation of Ukrainian enterprises in the competitive selection of the Program for grant funding; on this basis, recommendations for applicant organizations for obtaining grants for eco-modernization projects have been developed. The study notes that the grant instruments of the international technical assistance project "Best Available Techniques and Management Practices for Ukraine" are aimed at encouraging Ukrainian businesses to eco-modernize even before the full launch of the reform to minimize and control the negative impact of industrial pollution on the environment in Ukraine. It is demonstrated that Ukrainian enterprises that plan to implement from scratch or complete an eco-modernization project can apply for grant funding of up to EUR 1 million. The peculiarity of this financing instrument has been established, namely: projects should combine grants with loans in the amount of 20% to 80%. It is summarized that if Ukrainian organizations can effectively use these grant and loan funds, their projects will contribute to environmental protection and pollution reduction, increase production efficiency and profitability, and increase the competitiveness of enterprises in the Ukrainian and European markets. The successful implementation of the grant program will also play an important role in highlighting the readiness of Ukrainian businesses to attract investment financing for modernization, even in the context of the military conflict, which will signal to international donors and financial organizations the potential and ability of Ukrainian enterprises to receive financial support.

The article deals with current issues of intellectual capital investment in enterprise development, management practices and performance evaluation of investment of intellectual capital. The concept apparatus of the category "intellectual capital" is analyzed. Appointed to understand the holdings as tangible and intangible resources, which cannot be liquidity and formal registration of power. It is suggested to look at the structure of the intellectual capital of business in terms of specific elements, among them: human assets, market assets and assets, as well as structural assets and assets. In the following, a scheme for the formation and investment of intellectual capital of business is presented. It is proposed to attribute the efficiency of investment to intellectual capital in terms of commercialization of created innovative products, or additional income, taken away by the company after the implementation of projects for a variety of developments. The article defines that the effectiveness of intellectual capital investments cannot be considered only from the point of view of the obtained financial return due to the heterogeneity of its structure, therefore, an additional set of criteria for evaluating the effectiveness of intellectual capital management of the enterprise is highlighted, since the level of effectiveness of intellectual capital management will definitely affect the quality of innovative development of the enterprise. The author proposed to include the following as such criteria: criteria of financial security of the cycle of reproduction of intellectual potential with its subsequent transformation into intellectual capital, such criteria will allow to determine the degree of participation of the company's financial resources in the reproduction of intellectual potential; criteria for the quality of reproduction of the fixed capital, which allow to determine the level of technical and technological reproduction of the fixed capital; production sustainability criteria determined by the level of available innovation opportunities; criteria of socio-economic growth of the enterprise.

The modern business environment is characterized by rapid changes, significant diversity and increased interconnection between its elements. These factors require new approaches to the reconfiguration of existing business models. Using the concept of entrepreneurial activity on the ecosystem base, enterprises can significantly increase the social and economic efficiency of their activities. The article describes three main archetypes of business models, each of which has a different content. The first type of business models is based on long-term partnerships with customers. The strategy of mutually beneficial relations with clients is formed in the front office. The basis of the second type of business models is operational efficiency, which involves improving of back-office operations. The third type involves creating value through the coordination of the front office and back office. Thus, the prerequisites for creating innovative business models, namely digital platforms, are being formed. Progressive changes in the quantitative and qualitative characteristics of business models require appropriate conditions to ensure the effective implementation. A mechanism for constructing actions and an outlined sequential phasing of changes are necessary. Without business models modifying, it is impossible to achieve the goals of sustainable social, economic and environmental development of enterprises. The business models priorities will be determined by the level of economic development, scientific, technical, social and environmental needs of enterprises. The directions of the business models transformation are outlined: digital and ecosystemic. It is determined that the business model transformation is a synthesis of various aspects of social, economic and ecological convergence. It is emphasized that special attention during the business models transformation towards ecosystems is paid to shaping a relative management system, organizational structure and corporate culture. The mechanism of the business model transformation is developed. The mechanism provides the growth of the enterprise’s ecosystem development as a result of consolidation of ecosystem components, increase of resource efficiency, modernization and greening of business process management.

This article analyzes the theoretical foundations of educational tourism based on the analysis of international academic mobility. International academic mobility is considered as a component of the development of the scientific and educational industry, which also has a significant impact on the general socio-economic progress. International educational tourism is one of the manifestations of academic mobility. In the process of research, the main trends in the development of educational tourism in the context of the internationalization of education were determined. This article also analyzes different approaches to the definition of educational tourism and examines the essence of this phenomenon. Educational tourism is defined as trips with an educational purpose lasting from overnight stay to one year, which may be accompanied by recreational activities. A classification of educational tourism by objectives, age of travelers, and stages of their career development is proposed. Educational tourism is considered as a complex, interdisciplinary phenomenon, which is demonstrated with the help of the graphic model "MET: Mobility, Education, Tourism". The proposed approach to the classification of types of educational mobility according to the objectives and duration of stay in the host country made it possible to distinguish between day visits, tourism, other types of educational mobility, temporary educational migration, and migration. The prerequisites and factors of the development of educational tourism are also analyzed, and the main principles of stimulating its development are highlighted, in particular, the application of the concept of the lifetime value of the client, i.e., taking into account the value of each visitor in the long term.

The primary focus of this research article is to delve into the analysis of financial potential assessment methods for enterprises operating in a dynamic socio-economic environment. A key aspect of this study involves emphasizing the significance of rational formation and effective using of financial potential as a strategic resource for achieving enterprise success. The article sheds light on the importance of rational formation and efficient using of financial potential. However, assessing financial potential poses challenges due to its heterogeneous structure. To address this, a mathematical interpretation for evaluating financial potential is proposed, aiming at facilitating operational management of enterprises. This mathematical interpretation incorporates elements of set theory, which opens up new possibilities for establishing connections and interdependencies among various financial indicators. It also allows for the consideration of the complexity of factors influencing financial potential and enables its evaluation based on a comprehensive set of criteria. The research findings confirm the continuous influence of socio-economic changes on the components of financial potential. Understanding this issue is crucial for optimizing the management of an enterprise's financial potential in conditions of uncertainty. Moreover, the article explores different perspectives on classifying the elements of financial potential, encompassing both classical variants and an author's proposed classification that takes into account the impact of financial potential elements on the current state of the enterprise. This broader classification framework provides a more comprehensive understanding of the intricate nature of financial potential and its relationship with the overall performance of the enterprise. Additionally, the authors present a conceptual model for assessing changes in financial potential under the influence of fluctuations in the socio-economic environment. This model highlights the interconnectedness between financial potentials of different economic entities and underscores the importance of continuous interaction in the evaluation process. In conclusion, the importance of studying the dynamic changes in the components of financial potential for effective operational management is emphasized and the relevance of this topic for optimizing the processes of managing the financial potential of enterprise is highlighted. Hence, it serves as a basis for further research and development of new ideas in this area.

The competitiveness of the national economy in the modern system of the world economy depends on the level of development of national science. Therefore, a sufficient level of appropriations for science is one of the main conditions for the effective use of scientific potential as a leading factor of economic development. In the knowledge economy, public funding of science is seen as an investment in the future, which will ultimately bring high dividends to society as a whole. In order to function successfully, the field of education needs to be provided with sufficient amounts of financial resources. Education finance is a system of monetary relations regarding the formation, distribution and use of various financial resources or funds of funds. As a result of the implementation of these relations in educational activity, various funds of financial resources are formed, the purpose of which is to ensure the effective functioning of institutions of the education system. In recent decades, the financing of higher education has undergone significant changes throughout the world. In general, these changes are caused by the fact that the costs of financial support for higher education increase every year, and the rate of growth of higher education costs does not provide an opportunity to meet all needs. Accordingly, the majority of higher education institutions in the world began to face the problem of lack of financial resources for the implementation of educational activities. The main problem turned out to be that the needs for resources were growing rapidly, while the financial support of the state remained unchanged or even decreased. The article examines the peculiarities of financial provision of higher education in economically developed countries. The interdependence of the financial provision of higher education and the level of economic development of the state is substantiated. The problems of financing higher education in Ukraine and the countries of the world were studied; ways of diversifying sources of financial resources of higher educational institutions; state and trends of expenditures on higher education in the countries of the world. Proposals for improving the financial provision of higher education institutions in Ukraine have been submitted.

In recent years, the issue of the transformation of digital trade has occupied a leading position among scientists who study the issues of the digital economy, digitization and digital trade. The profound impact of digital transformation has led to a change in consumer behavior, leading to a significant increase in online shopping and the adoption of digital commerce. This has resulted in businesses quickly investing in digital infrastructure and capabilities. The digital transformation of commerce is currently a necessity for business in the world. In the work, a study of the transformation of digital trade was carried out by creating an additional department for the development of digital trade. In recent years, the issue of the transformation of digital trade has occupied a leading position among scientists who study the issues of the digital economy, digitization and digital trade. In order to achieve the goal of the research, the author revealed the most significant obstacles that arise and need to be dealt with in the conditions of digitalization of trade. The author identifies five obstacles: silos in organizations, a culture of caution, insufficient resources, gaps in digital skills, and insufficient business and IT resources. The main challenges included in the obstacles are also revealed in the study. In today's conditions, it is necessary to be aware of the potential benefits and necessity of digital transformations and the feasibility of implementation as a result of such implementation. The author suggested introducing a digital trade development department into the Ministry of Digital Transformation of Ukraine. It is a subsidiary structure of the government to promote and coordinate the promotion and coordination of government actions to ensure the development of digital trade by promoting digital transformation and modernization of the country through digital technologies. In the direction of further research, it is worth indicating the disclosure of the functioning of the digital trade development department.

The purpose of the article is to structure the legal framework for regulating the market of derivative financial instruments at the global and national levels, to harmonize them with each other and to identify current changes and problems. The article uses an economic and legal approach to the study of the problems raised. It has been established that the structure of regulation of the derivatives market consists of supranational and national levels. At the supranational level, global and regional financial market institutions determine the basic provisions for the functioning of the market; at the national level, it is regulated by legislative bodies, state regulatory bodies and self-regulatory organizations. The regulatory support of state bodies in the capital market is formed by instructions, standards and norms, methodological guidelines, explanations, rules, etc. The attention is focused on the important role of European supranational institutions as factors of adaptation of the Ukraine financial system to EU requirements. It has been established that the Ukrainian model of financial regulation is close to the “two peaks” model, in accordance with which the main functions are distributed between institutes – by the National Bank of Ukraine and the National Securities and Stock Market Commission. The functions and powers of all components of the derivatives market regulation system, including self-regulatory organizations, are considered. It is noted that in Ukraine derivatives trading outside the organized market is poorly regulated and requires the use of tools aimed at standardizing processes (General Agreement) and enhancing depository and clearing activities. The level of Ukraine derivatives market development is characterized as the active phase of the rule-making processes regulating. The legislative bodies have a decisive influence on the system of regulation of derivatives market at the national level. They form a legal framework and have a clear hierarchy. The key subjects of information support of the financial market are identified, their functions and the state of disclosure of information are determined, the main problems of the informational support require solution.