Scientific Center of Innovative Research, International Conference on economics, accounting and finance-2023

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ECONOMIC SECURITY OF THE STATE AS THE BASIS STRUCTURE OF NATIONAL SECURITY: INVESTMENT MANAGEMENT TAKING INTO ACCOUNT THE IMPORTANCE OF THE DEVELOPMENT OF THE EDUCATION SYSTEM AT ALL LEVELS IN THE CONDITIONS OF THE POST-WAR RECOVERY OF UKRAINE
Mykola Denysenko, Svitlana Breus, Volodymyr Panchenko, Maksym Harnaha

Date: 2023-12-15 12:30 PM – 12:40 PM

Abstract


Russia's war against Ukraine (and in particular a full-scale one) took many human lives, led to catastrophic destruction of infrastructure, objects of cultural heritage, caused enormous damage to all spheres of social life, including education at all levels. Taking into account the processes (their increase creates prerequisites for the emergence of threats to the economic security of the state as the basis of the basic structure of national security), which are currently being observed, fundamental changes are taking place in the worldview and positioning of people, citizens of Ukraine and all representatives of civilized society. Russia's war against Ukraine is permanent and takes place continuously on all fronts (in particular, geopolitical, informational and civilizational), in connection with which the requirements for ensuring economic security are being reformatted to a certain extent, taking into account the needs of the labor market, the requirements of the economy and employers regarding the definition and ranking, updating and forming a set of, so to speak, updated key performance indicators (KPI) at the state level, as well as those that can be considered indicators of the success of the country's existence as an a self-contained independent state and the formation of its own information and analytical system of education and management in modern realities. In general, the above indicates the expediency of developing measures adequate to modern realities and making balanced management decisions, in particular regarding increasing the return on investment in human capital and, as a result, managing investments, taking into account the importance of the development of the education system at all levels in the conditions of the post-war recovery of Ukraine.

Since the beginning of the full-scale invasion, 793 educational institutions have suffered from bombings and shelling, and 365 of them have been completely destroyed (Education in times of war challenges and prospects for Ukraine, 2023). According to preliminary estimates (Zhyrii, 2023), the total direct losses of enterprises (including state ones) amount to 13 billion dollars. USA, and the total indirect losses are estimated at more than $33 billion. Almost $25 billion is needed to restore enterprises. USA (Zhyrii, 2023). These data also correlate with information about migration processes that occurred as a result of full-scale war. According to the estimates of the CES, the Center for Economic Recovery and the Institute of Demography, there will be a shortage of 3.1-4.5 million workers by 2032 due to the departure of citizens of the country. As a result, economic losses during this period may reach $113 billion (Vinokurov, 2023).

Considering the above, it should be noted that an important role in the development and recovery of the economy of Ukraine in the post-war period will be played by the presence and development of so-called "hard skills" and "soft skills" and, accordingly, an increase in the volume of investments in human capital. In connection with this, the formation and development of the management potential of leaders, managers, leaders, scientists, scientific-pedagogical and pedagogical workers of all levels of education through the development of so-called "hard skills" and "soft skills" becomes important, which will contribute to the expansion of opportunities formation of the personnel potential of the state (Denysenko, 2013; Breus & Harnaha, 2023).

According to the results of various studies, in the practical activities of employees in general, leaders and managers in particular, the contribution of so-called "hard skills" and "soft skills" to their professional urgency has been determined:

- according to the results of a study conducted at Harvard University (Harvard University) and the Stanford Research Institute (Stanford Research Institute), the contribution of "hard skills" is only 15% of career success, and the other 85% is determined by "soft skills" (Filatova, 2018, p. 218);

- in a study conducted by the Boston Consulting Group, the contribution of "soft skills" is distributed as follows: communication skills occupy 79%, an active life position – 78%, analytical thinking – 77%, endurance – 75%, the ability to work in a team – 74%, focus on achieving set goals – 70%, ability to resolve conflicts – 54%, ability to inspire with new ideas – 54%, creativity – 43%, reliability – 42% (Koliada & Kravchenko, 2020, p. 140);

- according to the results of a study conducted by the Stanford Research Institute (Stanford Research Institute) together with the Carnegie Melon Foundation (Carnegie Melon Foundation) among the general directors (CEOs) of companies from the "Fortune 500" list, the long-term and stable success of company managers in their professional activities is 75% is determined by "soft skills" and only 25% by "hard skills" (Filatova, 2018, p. 218).

Taking into account the above, in the context of the research problem, it is considered appropriate to emphasize the importance of the formation and development of "hard skills" and "soft skills". There are three categories of professions that differ in the ratio of "soft skills" and "hard skills":

- when professional skills and knowledge are more important: they mainly include theoretical specialists, developers, designers, engineers, etc. The ability to communicate is sometimes not decisive at all;

- certain professions require a balance of "hard skills" and "soft skills": lawyers, economists, teachers, doctors. Their interaction with the environment is partly no less important than their professional competences;

- professions in which the leading position is occupied by "soft skills": sales, marketing, creativity. The ability to listen, speak, attract attention can guarantee up to 90% of success (Breus & Harnaha, 2023; What are hard skills and soft skills: how the employer evaluates us).

Taking into account the above, it should be stated that the intensification of efforts at all levels of management regarding investment management (Denysenko, Breus, Panchenko & Prytula, 2023), taking into account the importance of the development of the education system at all levels, in particular the implementation of the conceptual foundations of the New Ukrainian School in the conditions of the post-war recovery of Ukraine as a basis for training future specialists, will contribute to the recovery the broken connection between education, science and production in the context of meeting the needs of the labor market, the requirements of the economy and employers in the event of intensifying efforts to form and improve the so-called "hard skills" and "soft skills" of all employees (Breus & Harnaha, 2023; What are hard skills and soft skills: how the employer evaluates us), including leaders, managers, leaders, scientists, scientific-pedagogical and pedagogical workers of all levels of education. The implementation of the above will generally contribute to increasing the level of economic security of the state as the basis of the basic structure of national security, in particular due to the improvement of the opportunities for formation and effective use of their existing potential.


Keywords


economic security; state economic security; investments, investment management, New Ukrainian school, education, higher education, institutions of higher education

References


1. Mygal, M. (2023, October 23). Education in times of war challenges and prospects for Ukraine Retrieved from https://iaa.org.ua/articles/education-in-times-of-war-challenges-and-prospects-for-ukraine/

2. Zhyrii, K. (2023, February 22). Time for work: how Ukrainian business recovered and adapted during the year of the war. Retrieved from https://www.unian.ua/economics/finance/chas-dlya-roboti-yak-vidnovlyuvavsya-ta-adaptuvavsya-ukrajinskiy-biznes-za-rik-viyni-12154170.html

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7. Koliada, N., & Kravchenko, O. (2020). Practical experience of “soft-skills” formation in terms of higher education institution. Topical issues of the humanities: an intercollegiate collection of researchers working with young people with Drohobych workers at Ivan Franko University, 5(27), 137-145. Retrieved from http://www.aphn-journal.in.ua/archive/27_2020/part_3/26.pdf

8. Educational hub of the city of Kyiv. What are hard skills and soft skills: how the employer evaluates us. Retrieved from https://eduhub.in.ua/news/shcho-take-hard-skills-i-soft-skills-yak-nas-ocinyuye-robotodavec

9. Denysenko, M., Breus S., Panchenko, V. & Prytula, Ye. (2023). Investment management in the context of ensuring the economic security of the state as an important aspect of the development of the rental housing market in Ukraine. Development of world economy, marketing and management in modern conditions: collective monograph / Andrushko R., Zhydovska N., Myronchuk Z. etc. Іnternational Science Group. (pp. 39-46). NewPress. Boston : Primedia eLaunch, doi: 10.46299/ISG.2023.MONO.ECON.4


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