Measuring competitiveness in Сentral Asian post-socialist countries is problematic as many well-known metrics systems fail to warn about bankruptcy risks sufficiently early or at all. With 2013-2017 data, we have compared data on the selected poultry sector companies operating in Kazakhstan to analyze their competitiveness, while financial analysis metrics provided us with the financial performance data. In particular, we have analyzed two publicly traded companies-Alatau-Kus JSC and Ust-Kamenogorskaya pticefabrika JSC, and two non-publicly traded companies-Alel-Agro JSC, and Sever Ptica JSC. These are compared with the largest Czech poultry meat producer Vodnanska drubez, JSC. Firstly, we measured competitiveness through bankruptcy and creditworthiness models and compared competitiveness as compared to financial situation of the main competitors at that market. To measure competitiveness, we used such indicators as IN99, IN01, IN05. We show the IN models can be beneficial in the case of the post-socialist countries. By using
Abstract:Measuring competitiveness offers hundreds of analytical options. We have chosen to analyze and compare companies of confectionery sector in Kazakhstan. We opted to use bankruptcy and creditworthiness models and compare competitiveness through the financial situation of main competitors on that market. Companies analyzed comprise of two Ukrainian companies (Konti and Roshen), Russian companies (Nestlé Russian branch serving also Central Asian markets and KDV -Yaskino) and three local corporations Rakhat, Bayan Sulu and Konfety Karagandy. Models used for analysis are Altman z-score model, Taffler z-score model, IN99, IN01, IN05, and creditworthiness model. The IN models were created in the Czech Republic based on companies' data from the 1990s which was the period of higher inflation, small currency an big banking crisis, massive imports, developing competition and infrequent political turmoil. These models have comparably much greater benefits for analyzing companies in Kazakhstan because they are based on hundreds of companies in contrast to tens of companies on which Altman or Taffler based their famous and highly predictive models. We present an analysis of models in 2007 -2016 period based on publicly accessible data. We show the IN models have valuable benefits for comparison compared with other older models and that they can disclose certain events or corporate situations in a clearer way than other Altman or Taffler z-score models and should be used in Kazakhstan and improved to suit better the local market environment. JEL Classification Numbers: G32, G33; DOI: http://dx.doi.org/10.12955/cbup.v5.916
Based on a review of the recommendations of various scientists, the article presents measures to strengthen the solvency and financial stability of companies in various fields of production. These include effective receivables management, accelerated capital turnover, increased profits and cash flow. The article reveals the concept of financial stability as the main criteria of the company’s financial condition. As well the negative aspects of the financial condition of companies are discussed. All negative factors divided into three groups based on their characteristics: general economic factors, state factors, and market factors. The model of accounts receivable management, which includes three stages is presented. It is concluded that a high share of accounts receivable as part of assets can lead any company to loss of solvency. Ways to improve the structure of funding sources, aspects of increasing return on capital are considered. Several recommendations given to reduce the duration of capital turnover in order to increase the company’s solvency. As a factor of increasing profits a possible ways of minimizing costs are investigated. Ways of increasing production volumes are highlighted and described, measures to increase cash flow are analyzed. Considerable attention is paid to the irrational management of cash flows.
Purpose of the research is to study changes in management processes under the influence of the digital economy in order to effectively carry out the digital transformation of a company and adapt management to new conditions.Methodology. The methodology and research methodology is based on the use of a monographic method of studying literature and sources, systemic and comparative analysis using observations and analysis of statistical materials.The theory was developed and validated using scientific evidence derived from the data following a literature analysis.Originality / value of the research.The article analyzes the literature on this topic, which showed that the problem is poorly researched. A diagram of the interaction of the digital economy and management processes was built, which made it possible to identify the composition of changes in the management of the company. The content of the transforming impact of the digital economy on the enterprise is highlighted, for which a scheme of the impact of the digital economy on the management of the company is proposed. Analysis of the digital transformation of business in the largest Kazakhstani telecommunications company Kazakhtelecom revealed changes that should be made in the field of personnel management, the formation of corporate culture, the system of working with clients and the organizational structure of management. Particular attention is paid to the digitalization of the company's business processes, on which the digital model of the company depends, which determines the design of the entire company management system.Findings. The results obtained: some provisions on the methodology of the influence of the digital economy on management processes were systematized and developed, an analysis of the digital transformation of business and management of the Kazakhtelecom telecommunications company was carried out, from which recommendations for adapting management processes to digital changes follow.
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