Olga Garafonova’s research while affiliated with Kyiv National Economic University named after Vadym Hetman and other places

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Publications (41)


Figure 2. Projected values of the generative artificial intelligence market size, 2022-2032 (USD billion)
Figure 3. Generative AI market share, by end-use, 2022 (%)
Figure 5. IoT total annual revenue worldwide from 2020 to 2030 (in billion U.S. dollars)
Figure 8. The graph of the normal distribution for Amazon
Financial and technological performance of Amazon: 2013-2022

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Digitization Process in a Changing Global Environment
  • Article
  • Full-text available

February 2025

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85 Reads

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2 Citations

TEM Journal

Olga Garafonova

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Oleksii Dvornyk

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Volodymyr Sharov

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[...]

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Iryna Lomachynska

This article aims to analyze modern technologies' impact on business process management approaches in the context of digitization and innovative management. Drawing on an extensive literature review, the study explores key themes such as the role of digital technologies in transforming traditional business practices, fostering innovation, and addressing market demands. The problem under investigation centers on the evolving nature of business process management in response to rapid technological advancements and the need for innovative strategies. The research is guided by the hypothesis that digitization and innovative management are critical drivers of efficiency, productivity, and competitive advantage in the contemporary business environment. A mixed-methods approach was employed to test this hypothesis, combining statistical data analysis, case studies of leading global and Ukrainian enterprises (including Amazon, Nova Poshta, and SoftServe), and regression modeling. The study sample includes data from eight enterprises and insights from 15 managers representing various industries. The results indicate that adopting digital technologies, such as artificial intelligence, blockchain, and IoT, significantly enhances business process automation, customer interaction, and organizational efficiency. The findings highlight notable growth trends in digital transformation indicators, including profitability, innovation output, and market competitiveness. Companies prioritizing digital innovations experience higher financial performance and adaptability in a dynamic market environment. This study underscores the implications of digitization for business process management, providing actionable insights for managers aiming to develop effective strategies for integrating digital and innovative practices. The research contributes to the theoretical understanding of digital transformation and offers practical applications for businesses seeking sustained growth and competitive advantage.

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Key Qualitative Methods for Studying Social Conflicts
Example Assessment of a UTC in Kyiv Region by Categories and Indicators for Determining the Level of Social Conflict
Scaling of Indicators for Category 1: Social Tension
Scaling of Indicators for Category 2: Economic Factors
Scaling of Indicators for Category 3: Institutional Factors
Measuring The Level of Social Conflicts in Local Governance: Methodological Aspects and Application For United Communities

December 2024

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27 Reads

Revista de Gestão Social e Ambiental

Objectives: The objective of this study is to develop and apply a Social Conflict Index (SCI) to assess the level of social tension within United Territorial Communities (UTCs) in Ukraine. The index aims to provide a reliable measure for identifying and addressing social instability, supporting strategic planning and preventive management. Theoretical Framework: The study is grounded in theories of social cohesion and conflict, integrating social, economic, and institutional indicators to define the categories influencing stability and cohesion within communities. It draws from frameworks on decentralization and public administration to address the unique challenges of local governance in Ukraine. Method: A weighted-average approach was applied to evaluate the significance of various indicators, including social tension, economic factors, and institutional metrics. Each indicator was assigned a weight based on its relative importance in assessing social conflict. Data was collected through surveys, statistical analysis, and reviews of public petitions and complaints. The SCI was calculated using a standardized formula, allowing for the classification of conflict levels from low to critical. Results and Discussion: The findings demonstrate that the SCI is an effective tool for quantitatively assessing social tension in UTCs. The index identifies problematic areas, enabling local authorities to determine vulnerable groups and design targeted tension-reduction programs. The SCI scale provides a clear framework for classifying conflict levels, from low to critical, with implications for strategic planning. The study highlights the index’s adaptability for use in monitoring changes in social conflict, particularly under decentralization, and its potential for integration into digital platforms for real-time tracking. Research Implications: The SCI offers a practical tool for local authorities to enhance governance efficiency, supporting adaptive management strategies in the context of decentralization. The methodology is particularly valuable for addressing social inequality and economic challenges in larger communities. Future research could explore regional adaptations of the SCI, the development of digital monitoring platforms, and the modeling of preventive management strategies to enhance social stability. Originality/Value: This study advances local governance by presenting an innovative methodology for measuring social conflict tailored to the socio-political landscape of Ukraine. The SCI’s comprehensive framework integrates multiple indicators into a single measure, providing actionable insights for local governments. Its application contributes to the development of systematic approaches to social conflict management, aligning with the broader goals of decentralization and community stability.


Figure 1. Key financial and statistical indicators of the Global retail dynamics for the period 2021 -2027. (Source: summarized by the authors on the basis of [1])
Figure 4. Key drivers of positive Retailers' expectations globally. (Source: summarized by the authors on the basis of [2])
Trends in financial results and quantitative metrics of Ukrainian online retail.
The biggest 15 online retail players in Ukraine in 2023.
ECONOMIC CHALLENGES AND FINANCIAL OPPORTUNITIES OF ONLINE RETAIL IN UKRAINE DURING THE WAR: ALIGNMENT WITH GLOBAL TRENDS AND INNOVATIVE PERSPECTIVES

October 2024

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79 Reads

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1 Citation

Financial and credit activity problems of theory and practice

This article serves both theoretical and practical purposes contributing to the body of knowledge, expanding our understanding of online retail development, particularly in challenging contexts, like wartime, suggesting further avenues for future studies, as well as providing practical guidance for Ukrainian online retailers, helping them improve their strategies, performance and financial capabilities, by stimulation of the innovation over emerging trends and opportunities. It explores the development and financial capabilities of online retail in Ukraine amidst the ongoing war, conducting a comparative analysis with global trends in consumer sentiments and retail business development. Retail is a fundamental pillar of any economy. It serves as a crucial intermediary between producers and consumers, ensuring the provision of essential goods for daily life. It is the main link in providing the population with everything necessary for everyday life and forming stable financial flows to replenish the country's budget. Consequently, the functionality and growth of retail are contingent upon its ability to swiftly adapt to evolving consumer behaviour, constantly finance investments in innovation, and actively seek new opportunities. The war against Ukraine is characterized by severe combat operations, including massive shelling and constant missile attacks. It has presented unprecedented challenges for retailers, including a significant shift in consumer priorities towards consumption, leisure, and future planning, resulting in a serious decline in purchasing power, disruptions to logistical routes, loss of personnel, fuel shortages, and blackouts. Despite these formidable adversities, over the 28 months of the war, retail, and particularly online retail, has demonstrated remarkable resilience, sustainable development and rapid recovery of financial capabilities.The conducted research is the outcome of a set of comprehensive analyses (trends, performance metrics, clustering) of the financial results of retail, primary challenges faced by Ukrainian retailers and the identification of effective adaptation strategies to ensure financial stability. Meta and content analysis with further synthesis of findings, could help to examine the implementation of service-oriented business models, such as marketplaces, which offer a vast array of products and competitive pricing, as a key adaptation strategy. The study also delves into the popularization of online retail and the trends in the transition to hybrid online sales like omnichannel, enabling a "seamless" customer experience through the synchronization of product, pricing, and order information across all sales channels. Additionally, retailers are actively working to enhance logistics and delivery speed through partnerships with logistics companies, establishing their own courier delivery services, and expanding their physical presence through retail outlets. A comparative analysis with international experience reveals the similarities and differences in the challenges faced by Ukrainian retailers, the factors contributing to success and the methods of transformation. It further explores the adoption of digital technologies and innovative approaches to maintain competitiveness and financial stability even under the challenging conditions of war.


Financial strategies of countries around the world.
Innovative financial strategies in Ukraine.
Recommendations for Ukrainian enterprises regarding innovative financial management strategies for business revitalization in Ukraine.
INTERNATIONAL EXPERIENCE IN APPLYING INNOVATIVE FINANCIAL MANAGEMENT STRATEGIES FOR BUSINESS REVITALIZATION IN THE POST-WAR PERIOD IN UKRAINE

December 2023

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143 Reads

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13 Citations

Financial and credit activity problems of theory and practice

This article explores international experience in applying innovative financial management strategies for business revitalization in the post-war period in Ukraine. Special attention is given to the destruction of industrial and infrastructural objects, as well as the tactics employed by the russian military aggression aimed at undermining the country's economic potential and creating a humanitarian disaster. The article also analyzes the issue of financing the post-crisis development of enterprises in Ukraine and discusses various sources of funding such as development funds, grants, subsidies, and other financial instruments. However, further research is needed to propose an effective strategic model for revitalizing enterprises in the liberated territories, particularly in the southern part of Ukraine. The findings of this study will contribute to understanding and applying innovative financial strategies for business recovery in Ukraine after the war period, as well as developing effective approaches to support enterprises in the post-crisis period. This article sheds light on international experiences in employing innovative financial management strategies to revitalize businesses in post-war Ukraine. The insights gained from this research will contribute to understanding and implementing effective financial approaches for business recovery in the aftermath of war, as well as supporting the activation of entrepreneurship during the post-crisis period.


Figure 1. Distribution of expenses by categories of the agricultural sector, USD billion. (Source: summarized by the authors of [10])
Figure 4. The process of military revitalization of the strong support enterprises of the de-occupied territories (the first stage of strategy).
Financing programs for the post-war revitalization of agricultural enterprises in the de-occupied territories. (Source: summarized by the authors of [11])
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STRATEGIC MODEL AND POTENTIAL SOURCES OF FINANCING FOR THE POST-WAR REVITALIZATION OF AGRICULTURAL ENTERPRISES IN THE DE-OCCUPIED TERRITORIES

April 2023

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62 Reads

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13 Citations

Financial and credit activity problems of theory and practice

Метою дослідження є оцінка збитків унаслідок російської агресії, визначення потенційних джерел фінансування повоєнної ревіталізації деокупованих територій та формування першої складової стратегічної моделі повоєнної ревіталізації сільськогосподарських підприємств деокупованих територій. У статті проаналізовано прямі збитки від війни в Україні в цілому та в сільському господарстві зокрема. Представлено розподіл утрат за категоріями аграрного сектора: сільськогосподарська техніка, зерносховища, тваринництво, багаторічні культури, фактори виробництва (паливо, добрива), продукція, що випускається. Установлено, що План Відновлення України базується на 5 основних принципах: негайний початок і поступовий розвиток; нарощування справедливого добробуту; інтеграція в ЄС; відбудова кращого, ніж було, у національному та регіональному масштабах; стимулювання приватних інвестицій. Проаналізовано програми фінансування повоєнної ревіталізації сільськогосподарських підприємств на деокупованих територіях. Сформовано процес пожвавлення військової підтримки підприємств деокупованих територій (перший етап стратегії). Доведено, що створення агрохолдингів, кластерний розвиток (спрямований на розвиток сільськогосподарських видів діяльності), а також розвиток несільськогосподарських видів діяльності дозволять створити додаткові робочі місця, раціонально використати ресурсний потенціал регіонів, покращити соціальні умови та забезпечити соціальну підтримку населенню. Для досягнення успішних та ефективних процесів диверсифікації особливо потрібна підтримка з боку держави, регіону та інвесторів, сукупність яких створить міцний фундамент для подальшого розвитку сучасної економіки деокупованих територій.


FEATURES OF MANAGING SOCIAL CONFLICTS BY PUBLIC AUTHORITIES

April 2023

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13 Reads

Herald of Khmelnytskyi National University Economic sciences

The article examines the peculiarities of managing social conflicts by public authorities. It is determined that the diversity of society can lead to conflicts due to the divergence of interests of different organizations and people. The state must intervene quickly to properly resolve disputes between the parties. In practice, the government that seems more prominent represents the state. Governments have all the power and perform all tasks on behalf of the state. According to most political definitions, the state is the only legitimate use of physical violence in society. So, by definition, it is almost involved when there is an armed conflict in society. However, violent control is not the only distinguishing feature. There are also financial, territorial, and ideological monopolies. The simultaneous implementation of these four monopolies ensures unity within the state and international independence. Various social conflicts that occur in society are a form of social catastrophe. These disasters were caused by human activity. Some of the drivers of social conflicts include gaps in economic differences, differences in political understanding between communities, discrimination, injustice, disobedience, neglect, and lack of understanding among a group of people. Proper treatment is to create peace in society. The role of local authorities is necessary to find appropriate forms of solutions. Early identification of problems and ways to solve them should be comprehensive. Identifying complex social problems is an attempt to increase sensitivity to emerging social problems. Sensitivity refers to the form of sensitivity when detecting a problem that includes frequency, prevalence, and trend. Social harmony programmes are designed as peaceful conflict resolution. Social harmony is a social condition that guarantees the creation of dynamic, harmonious and balanced relationships and social interactions between community members so that they can live peacefully side by side on the basis of equality, cohesion and true brotherhood. Maintaining peaceful conditions in a community is characterized by a harmonious social life (full tolerance and mutual support) to create social cohesion. Social conflict is a phenomenon that will continue to exist and cannot be separated in people’s lives, regardless of the positive and negative consequences that it causes. Local community culture, or often known in the community as local wisdom, can be a conflict management tool to create social harmony. The presence of local culture in the form of local wisdom, which has been agreed upon by mutual agreement, is another alternative and should be considered by the community, community leaders, the government and peace-supporting organizations as a means of resolving social conflicts.


Development of an International Marketing Strategy for Domestic Enterprises During a State of War

January 2023

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627 Reads

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4 Citations

Marketing and Management of Innovations

This article aims to address the critical topic of developing an international marketing strategy for domestic enterprises during a state of war. The study examines the implications of such conditions for marketing activities and offers insights into how domestic firms can navigate international markets amidst challenges arising from war and geopolitical tensions. This research combines an extensive review of the literature with a systematic methodology for developing international marketing strategies. The methodology involves identifying key factors influencing financial risk, assigning appropriate weighting coefficients, evaluating individual indicators, and calculating a comprehensive indicator. This comprehensive approach enables enterprises to understand their financial standing and make informed decisions to navigate challenges during times of war. The study highlights the significant challenges that domestic enterprises face during a state of war, disrupting economic stability, altering market dynamics, and introducing unprecedented financial risks. Comprehensive calculations of the indicators reveal the different effects of financial riskon international marketing activities, which vary across indicator categories and years. The methodology provides valuable insights into developing optimal international marketing strategies based on the changing dynamics of financial risk. This research fills a gap in the literature by focusing on developing international marketing strategies specifically tailored to the unique circumstances of domestic enterprises during times of conflict. The systematic methodology for calculating comprehensive indicators and deriving strategies adds a novel dimension to the existing research on international marketing strategies. This study offers practical recommendations for domestic enterprises operating in regions affected by a state of war. The identified strategies, such as price leadership, market diversification, collaboration with local partners, retaining customer bases, and enhancing online sales, provide actionable insights for businesses seeking to maintain competitiveness and thrive in international markets.


Financial instruments as a source of facilitating diversification strategy implementation for enterprises

January 2023

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5 Reads

Modern Science

This article focuses on the role of financial instruments as a crucial source for the successful implementation of the diversification strategy for enterprises. Diversification has become an essential tool in ensuring the stability and competitiveness of enterprises in a dynamic market environment. The article explores various financial instruments that can be utilized by enterprises to secure the required funding for new projects and the development of new business directions.


SCIENTIFIC RESEARCH METHODOLOGY AS A GENERAL APPROACH AND PERSPECTIVE OF THE RESEARCH PROCESS

December 2022

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146 Reads

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9 Citations

Herald of Khmelnytskyi National University Economic sciences

The article examines the methodology of scientific research as a general approach and perspective of the research process. Methodology in research is defined as a systematic method of solving a research problem by collecting data using various methods, providing an interpretation of the collected data, and drawing conclusions about the research data. Essentially, research methodology is a scheme of research or study. A research method is usually seen as a means of collecting or generating data. Traditionally, research methods are divided into quantitative methods (ie, surveys, questionnaires), qualitative methods (ie, interviews, focus groups), or some combination of both in mixed methods research. Research methods vary widely and may include written, visual, verbal, observational, artistic, and active strategies. Scientific research refers to research that collects data using systematic methods and strategies. Data collection, data interpretation and evaluation have a scientific and systematic basis. When conducting scientific research, the researcher must plan the research and determine the methodology. According to the methods used to collect data, scientific research can be classified into different categories such as observation and experiment. The process of scientific research requires a person to devote a lot of time and effort to the process of planning and experimenting in order to find accurate and verified results. Scientific research cannot be conducted in limited time because it will only lead to false conclusions that are of no value to the organization.Conducting research has been a necessary step in human and scientific discovery and evolution. Through research, mankind has been able to solve and successfully find solutions to enormous problems through thinking and reasoning. Conducting research is a time-consuming and exhausting process, as one constantly faces obstacles in trying to get accurate results to discover a solution. However, many great minds have constantly strived for perfection and have helped solve many of the world’s troubling problems and issues through this tedious process. Hence, it has been argued time and time again that research is necessary for progress, improvement and evolution. Understanding the different research methods available, their applicability, advantages, and disadvantages is essential to making an informed decision about the best methodology.


CONCEPTUAL ASPECTS OF THE FUNCTIONING OF INTERNATIONAL LOGISTICS SYSTEMS

July 2022

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22 Reads

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6 Citations

Herald of Khmelnytskyi National University Economic sciences

In modern conditions, transport and logistics systems perform an integrating function, allow countries to realize their transit potential, and provide innovative development of regional and national economies. World practice shows that the leadership in competition in the international economy is given to countries whose complex sources of development are the effective use of logistics methods. Transport and logistics systems allow you to reduce all types of costs related to the management of material and related flows, costs of transportation, warehousing, order management, procurement, packaging and other logistics costs. The reduction of transport and logistics costs, in turn, frees up financial resources, directing them to investments in innovative developments, the purchase of fixed assets, training and retraining of personnel, marketing activities and other ways of strengthening the competitiveness of enterprises. Today, logistics is a system of organizing the delivery of goods from the producer to the consumer, and its main purpose is the coordination of various stages of transportation. The development of the transport network, which led to the strengthening of trade relations between states, as well as the progressive processes of globalization, brings such a direction as international logistics to the fore. International logistics promotes the development of foreign economic activity of enterprises, optimizes purchasing, transport, warehouse and other processes. Transportation plays a crucial role in handling logistics. A review of the current state indicates that a powerful system requires a clear logistics system and proper tools and methods to communicate production procedures.


Citations (24)


... На міжнародному рівні інтерес становить публікація Garafonova et al. (2025), в якій представлено глибокий аналіз цифровізації в умовах глобальних змін. У статті охарактеризовано нові виклики для цифрової економіки, а також обґрунтовано роль цифрових платформ у забезпеченні стійкості креативних індустрій, зокрема індустрії розваг, у післявоєнний період для України. ...

Reference:

МЕРЕЖЕВІ ПЛАТФОРМИ ТА ПАРТНЕРСТВА ЯК ДРАЙВЕРИ РОЗВИТКУ ІНДУСТРІЇ РОЗВАГ
Digitization Process in a Changing Global Environment

TEM Journal

... Jika disrupsi teknologi tidak didukung oleh sistem yang baik dan pengelolaan yang matang, maka Lakat et al., 2025 DOI: 10.37478/als.v15i01.5243 175 175 perubahan tersebut hanya akan menciptakan kebingungan dan penurunan efisiensi oleh Sharov et al., (2024). ...

ECONOMIC CHALLENGES AND FINANCIAL OPPORTUNITIES OF ONLINE RETAIL IN UKRAINE DURING THE WAR: ALIGNMENT WITH GLOBAL TRENDS AND INNOVATIVE PERSPECTIVES

Financial and credit activity problems of theory and practice

... [17] identifies approaches to evaluating the economic performance of enterprises, offering insights for refining management practices. [18], [22] examines international experience in applying innovative financial management strategies and providing initiatives for improving financial planning in the digital transformation era. [19] emphasizes the importance of managing risks in innovative activities within the digital ecosystem, a key aspect amid changes in the digital transformation landscape. ...

INTERNATIONAL EXPERIENCE IN APPLYING INNOVATIVE FINANCIAL MANAGEMENT STRATEGIES FOR BUSINESS REVITALIZATION IN THE POST-WAR PERIOD IN UKRAINE

Financial and credit activity problems of theory and practice

... International marketing can serve as an additional source of revenue that a country can use to prevent economic recessions and ensure economic stability. Accordingly, various external, internal, micro, and macro variables can influence international marketing at any time [8]. Among these variables, the role of bank credits in this domain is particularly noteworthy. ...

Development of an International Marketing Strategy for Domestic Enterprises During a State of War
  • Citing Article
  • January 2023

Marketing and Management of Innovations

... However, some research show that investments in innovative technologies and the modernization of the agricultural sector could support sustainable development even amid economic instability (Matsybora, 2023). It is also important to ensure the support of international financial organizations, which could aid in the recovery and development of agriculture in Ukraine (Garafonova et al., 2023). The war has also had a substantial environmental impact. ...

STRATEGIC MODEL AND POTENTIAL SOURCES OF FINANCING FOR THE POST-WAR REVITALIZATION OF AGRICULTURAL ENTERPRISES IN THE DE-OCCUPIED TERRITORIES

Financial and credit activity problems of theory and practice

... Estas fuentes han permitido recopilar y sintetizar información de primera mano, proveniente de referencias confiables y de alto impacto dentro de la comunidad de la ingeniería. En cuanto a la metodología, esta se define como un proceso sistemático orientado a resolver un problema de investigación mediante la recopilación de datos a través de distintos métodos, proporcionando su interpretación y extrayendo conclusiones pertinentes (Marhasova et al., 2022). En este documento, la investigación y la síntesis de la información constituyen la base sobre la cual se ha estructurado el texto, abordando diversos puntos relevantes para el desarrollo del tema propuesto. ...

SCIENTIFIC RESEARCH METHODOLOGY AS A GENERAL APPROACH AND PERSPECTIVE OF THE RESEARCH PROCESS
  • Citing Article
  • December 2022

Herald of Khmelnytskyi National University Economic sciences

... Research findings (Saral Kandpal et al., 2023;Lejaka T.K. et al., 2023) prove that SMEs today are not prepared to protect against cyber threats and attacks, and most of them cannot even detect data breaches and manage cybersecurity risks. Of practical importance are publications (Marhasova V. et al., 2022;Viknianska A. et al., 2021;Abramova A. et al., 2021), which reveal the sustainability of enterprises and ways to increase their economic security, propose a methodological approach to economic analysis and management of enterprises in the conditions of transformation of economic systems, and also consider the example of Eastern European countries in issues of the VAT administration ecosystem in e-commerce. ...

Environmentalization of Production as a Direction of Ensuring the Sustainability of Production Activities of Enterprises and Increasing Their Economic Security
  • Citing Article
  • April 2022

International Journal of Safety and Security Engineering

... Використання сучасних технологій у формуванні системи міжнародних транспортних перевезень, особливо в екстремальних умовах, є фундаментальним для підвищення ефективності, гнучкості та безпеки логістичних процесів. Використання інноваційних технологій дозволяє значно покращити управління ланцюгами поставок, забезпечити прозорість та контроль за переміщенням вантажів, а також швидко адаптуватися до змін умов і викликів [2]. ...

CONCEPTUAL ASPECTS OF THE FUNCTIONING OF INTERNATIONAL LOGISTICS SYSTEMS
  • Citing Article
  • July 2022

Herald of Khmelnytskyi National University Economic sciences

... These disparities hinder overall national economic progress and contribute to increasing socioeconomic inequality. Gross regional product (GRP) per capita is an important indicator of economic activity, well-being, and living standards in each region [3]. Despite the widespread use of GRP in economic analysis, the factors that determine its growth in different regions remain a subject of debate. ...

Modeling the Harmony of Economic Development of Regions in the Context of Sustainable Development
  • Citing Article
  • April 2022

International Journal of Sustainable Development and Planning

... The digital landscape offers a wealth of opportunities, fostering connections and streamlining processes across industries [1] [2]. However, this interconnectedness comes at a costvulnerability [3] [4] [5]. ...

Digital Transformation in the Mining Sector: Exploring Global Technology Trends and Managerial Issues

E3S Web of Conferences