Abstract

The aim of the article. The article touches upon the issue of formation mechanism of the economic systems’ sustainability in the space-time continuum in the context of the new neo-system methodological paradigm. The new paradigm implies a priori separation of all economic systems into four types depending on their spatial and temporal localization. It is a new, methodologically, instrumentally and econometrically not treated, so any empirical researches in its context are appropriated. The results of the analysis. Taking into account the postulate of the paradigm, that all economic systems are isomorphic and the same four types of subsystems can be distinguished in the structure of any system, spatiotemporal characteristics of the subsystems and features of interaction between them are examined. The properties of subsystems, whose implementation provides a balance of variability and stability of whole economic system in space and time, are obtained. The abilities of the economic system, which are formed by interaction between the subsystems, are allocated. The theoretical conclusion that only a set of four different types of systems (subsystems) may be economic sustainable in the longer term is made. According to this, the objective functions are formulated for each type of subsystems, the implementation of which supports the economic stability of the system. On the basis of summarizing the various aspects of interaction between the subsystems conceptual formation mechanism of sustainability of economic system which is provided by the same degree of severity and functionality of all four subsystems, are built. It is allowed to hypothesize that the economic sustainability of the enterprise is caused by the level of balance of its four subsystems and can be determined on the basis of its measurement. Objects subsystem of enterprise includes the totality of its employees, managers and stockholders, environments subsystem is represented by the social and cultural sphere of enterprise, processes subsystem is represented by the sphere of industrial and economic processes and projects subsystem includes the totality of the investment and innovative projects. The econometric analysis is conducted on the basis of machine-building enterprises because they have always played an important role in the industrial development of Ukraine, but now is in a critical condition. Data on the sixteen enterprises for the period of 2004-2015 is conducted by the methods of Data Mining technology (the total sample is 192 cases). The results of using author’s method of estimating the subsystems and their sustainability index are presented in the article. The hypothesis is confirmed by the correlation analysis of the statistical relations between the generalized sustainability indexes and «traditional” financial ratios. Conclusions and directions of further researches. The conclusions about systemic character of the structural imbalances of machine-building enterprises are drawn. Objects and projects subsystems are more severe in the most cases. In general, across the sample relative surplus of objects subsystems is observed in 80,7%, of project subsystems – in 21,4%. Relative deficit of processes subsystems is observed in 98,0%, of environments subsystems – in 97,4% of cases. The results give a fresh look at the problem of economic sustainability but at the same time do not conflict with most of its concepts and summarize them. It attaches accurate system-structural form of the sustainability. So the further researches should be focused on the development of methodological bases and techniques of management of enterprises in order to maintain their structural balance.

Keywords: economic sustainability, balance, neosystem paradigm, spatiotemporal features of economic systems, machine-building enterprise

JEL Classification: B49, C12, C23, L69, O10.

Cite as: Voytko S. & Kravchenko, M. (2017). The formation mechanism of economic sustainability of the machine-building enterprises (neo-system approach). Marketing and Management of Innovations, 2, 211-221. https://doi.org/10.21272/mmi.2017.2-20

This work is licensed under a Creative Commons Attribution 4.0 International License

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