Journal number 3 ∘ Elguja Mekvabishvili ∘

Metamorphoses of Globalization: Political Economy Aspect

journal N 3.2023 The article discusses globalization of the economy as a component of the historical process and a natural result of its certain stage. In the evolution of globalization there are recorded turning moments or so-called bifurcation points, defining: • The logic of the beginning of globalization, manifested in the transformation of the internationalization of the world economy into economic globalization at the turn of the 1980s and 1990s;• Alternation of globalization forms with the forms of turbulent and confrontational globalization;• The determinism of the content of globalization of the economy and the trajectory of changes in its forms. It is noted that the current globalization is corporate globalization in its content. This means that it proceeds under the dictates of large transnational corporations and primarily serves their interests. Mainstream corporate globalization is characterized by internal contradictions, which are manifested at t

Journal number 3 ∘ Paata Koguashvili ∘ Givi Talakvadze ∘ Ioseb Archvadze ∘

The Mountainous Region of Georgia – An Essential Component of the Country s Strategic Development

Georgians are a nation with ancient independent culture and traditions. Our past and future are conditioned and internalized by religious, rational, or emotional origins connected to the land. All this led to different habits, desires, and aspirations of Georgians in practical life, which derives from the tradition of eternal relationship with the land. Any initiative, a declaration about the accelerated development of the national economy will remain only an expression of goodwill, if it does not take into account the task of complex development of agriculture, the condition for the formation, preservation, and reproduction of the village as the living space of the Georgian nation, the most important component of preserving the national identity. In addition, since a large part of the villages of Georgia are located in the mountains, the settlement and life of Georgians in this area is not only economically utilitarian. It has multifaceted, including demographic, cultural, and defensi

Journal number 3 ∘ Teimuraz Beridze ∘

Occupational Analysis of Demand and Supply of Skilled Labor - a Cornerstone of Comprehensive Labor Market Information for TVET planning

TVET and tertiary education systems are constantly under pressure to deliver graduates meeting the labor market demand. The performance of these systems is commonly judged by the: a) scale of shortages of skilled labor reported by employers, and b) surpluses of TVET - Technical and Vocational Education and Training graduates, some of whom may be unemployed or employed in low-skilled or different occupations leading to occupational and qualification mismatches. For various reasons, imbalances between the supply and demand for skilled labor may arise. For example, because the increasing education level of the population is outperforming the growth of skilled jobs in the economy, or industries do not absorb the TVET graduates. Also, trained persons may move abroad, etc. Likewise, an imbalance in the occupational structure of the labor market could arise because TVET and the tertiary systems may continue delivering graduates in occupations that give them

Journal number 3 ∘ Eka Lekashvili ∘ Ia Natsvlishvili ∘

Women s Challenges on Starting Entrepreneurial Activity in Georgia

The work is dedicated to the study of the challenges faced by women in Georgia when starting an entrepreneurial activity. The research was conducted using the STAR method interviews with focus groups. For the research process, a questionnaire was developed based on a test to determine/assess the potential of starting an entrepreneurship. Gender inequality in employment, education and income distribution still exists in Georgia. Not all groups in society have equal access to employment or entrepreneurial opportunities. The majority of the population in Georgia formally shares the idea of gender equality. At the same time, a certain part of the population shares the idea of the traditional distribution of gender roles. Empowering women for entrepreneurial career growth, in turn, serves several sustainable development goals: • Gender equality (#5)• Decent work and economic growth (#8) • Industry, innovation and infrastructure (#9). In modern economic science, entrepreneursh

Journal number 3 ∘ Irma Tkemaladze ∘

Modern Labor Market in Georgia - Challenges and Solutions

In today's labor market, it is crucial to understand the relationship between education, work experience, and professional skills in order to ensure effective employment. This article aims to investigate the impact of measures aimed at improving these aspects on the employment landscape. By analyzing the correlation coefficient, specifically Pearson's coefficient, we can determine their influence on effective employment. Furthermore, we will identify factors that hinder career progression and create barriers for new entrants to the job market. Additionally, we will explore the prevalence of non-standard employment forms and their potential for growth. Extensive research on the current labor market situation has shed light on the factors that impede career advancement and create artificial barriers for newcomers. Moreover, we have identified the factors influencing secondary and incomplete employment. In this article, we will delve into the scale of non-standard employment in the labor

Journal number 3 ∘ Eka Gegeshidze ∘ Qetevan Lomineishvili ∘

Establishing an Approach to Generating Innovation and Successful Commercialization for Emerging Markets (The Case of Georgia)

The role of innovation in modern society is growing systematically. Innovation is the main driver of the economy. In fact, the introduction of innovations is becoming vitally important in all fields. Nowadays, the existence of an organization may be questioned if they are not innovative enough and cannot successfully lead the process of commercialization of innovations.Modern society develops on the basis of innovations that lead to technological revolutions, and experiments are the main factor of creativity and innovation. Experimentation is a necessary precondition for innovation. An incremental, evolutionary type of innovation is also achieved through experimentation. The main thing is the constant, permanent use of the trial and error method. The models presented in the article highlight the importance of experimentation and emphasize the necessity of the continuous use of the trial and error method to successfully manage innovation processes.The ability to adapt to the environment

Journal number 3 ∘ Davit Narmania ∘ Rusudan Seturidze ∘ Murtaz Maghradze ∘ Shorena Davitaia ∘ Mikheil Machitidze ∘

The Improvement Ways of SCADA System Management in Power Energy

The development of technologies in the world has played a big role in the improvement of energy management. The level of development of electric energy has a great influence on the dynamics and arrangement of the country's productive forces, creating a necessary prerequisite for raising the standard of living of the population and improving working conditions. The level of the national economy and the energy supply of the population largely depends on the energy industry. Its development rates and scales have a decisive influence on the final results of the country's economic development. Supervisory Control and Data Acquisition (SCADA) is an important and relevant component of the electric power industry, which provides real-time monitoring and management of electricity production, transmission and distribution. The main purpose of the SCADA system is the management and operation of technological automated processes.SCADA system includes hardware and software components. The equipment

Journal number 3 ∘ Ketevan Nadirashvili ∘

The Assessment of Risk Management Practice in Georgian Public Sector

Risk management is critical for public sector organizations as they are exposed to different categories of risks affecting their reputation, efficiency and effectiveness of services, budget governance and overall public interests. To improve and strengthen governance principles in public sector, organizations need to become more proactive, identify and assess the existing or potential risks, respond and mitigate the risks that will eventually be reflected in better outcomes and decisions. Moreover, it is fundamental that the importance of Risk Management discipline is understood, knowledge and experience is gradually improved and appropriate strategies are in place. Hence it is necessary that robust and solid risk management frameworks are developed and implemented by public organizations.Given the above, the objective of the present article is to study and assess the current risk management practice in Georgian public sector. For that purpose, six major agencies were selected to condu

Journal number 3 ∘ Valeri Arghutashvili ∘

Impact of New Legal Mechanisms of Tourism Enterprise Insolvency Protection on Georgia s Tourism Industry

In case of insolvency of the tour operator and travel agent, there is a real risk of damage to the interests of the tourist, as the insolvency may complicate the implementation of the tourist package and at the same time, threaten the fulfillment of the existing financial obligations to the tourist. The purpose of the law is to balance the interests of the tourist as a "weaker party" by establishing preventive mechanisms, for this purpose it establishes a mechanism for ensuring the fulfillment of obligations arising from the insolvency of the tourist enterprise. It is important to assess the likely impact of these regulations on the tourism industry.Tourism in Georgia is developing at a fast pace, therefore, as a result of imposing new financial obligations for tour operators, there is a high risk that small and medium-sized business entities will not be able to meet these requirements, which is why there is a threat of their liquidation. Within the framework of the present study, new

Journal number 3 ∘ Mariam Sharia ∘

Geographical Distribution of the Tourism Value Chain of Georgia by the Example of Accommodations

The value chain of the tourism industry is remarkably diverse and includes many different sectors of the economy, be it agriculture, food industry, services, construction sector, etc. Accordingly, the development of tourism in the country, in the wake of meeting the needs of tourists can lead to the development of a number of other sectors and, in this way, have a positive impact on the country’s economy as a whole.However, the situation is different for import-dependent countries like Georgia. The value chain of tourism significantly deviates from the country's borders and, accordingly, there is an outflow of tourism revenues from the country. In order to make the most of the positive effects of tourism, it is necessary to optimize the spatial value chain and integrate the local product as much as possible.Before creating optimal spatial models, it is necessary to conduct an in-depth study and analysis of the current situation. Within the scope of this research, we have narrowed

Journal number 3 ∘ Eter Kharaishvili ∘

Trends and Prospects of Digital Transformation in the Agri-food Sector of Georgia

The paper substantiates the necessity of implementation of digital transformation in the agri-food sector of Georgia. The importance of digitization in increasing competitiveness is evaluated taking into account the peculiarities of the sector. The level of digital transformation in the agri-food sector of different countries is studied through bibliographic research; various opinions of researchers on the concept of digitization are evaluated.It is substantiated that digitization provides new opportunities for development in many industries; application of digital technologies allows ensuring the sustainability of the agri-food sector and increasing the productivity. Based on the analysis, the primary areas influenced by the digital transformation are revealed; it is concluded that the implementation of the digitization process should start at the enterprise level. The paper is based on various theoretical and methodological research tools - bibliographic research has been conducted;

Journal number 3 ∘ Zhana Tolordava ∘

Digital Educational Technologies

Digital technologies have for a long while taken up an important place in the economic development of many countries of the world. Digitalization is the process of wide distribution and implementation of digital technologies into various areas of public life: economy, business, culture, education, etc. Nowadays new digital technologies and innovative business models are implemented in every area of the economic activities, thus contributing to the emergence of digital economy. Digitalization (digital transformation) of education includes several tasks, such as: improvement of the skills and abilities of professors and teachers in the field of digital technologies, development of material infrastructure, development of online education; implementation of digital programs in the educational process. In this regard, the study of issues of digitalization (digital transformation) of education and its current problems has become a very important and called for area of scientific research.Und

Journal number 3 ∘ Joseph Archvadze ∘ Revaz Gogokia ∘ Elguja Mekvabishvili ∘

An Important Work of National Economy on the Most Vulnerable Sector

The monograph of the renowned experts in agrarian science - Mr. Revaz Asatiani and Paata Koguashvili - is dedicated to the most crucial field for the national economy and national security: the situation in agriculture, the problems, potential ways to overcome them, and development prospects.The authors not only realize that Georgia's state strategy should involve a sharp increase in agricultural production, an improvement in labor productivity in the agrarian sector, a drastic enhancement in the foreign trade balance, thereby overcoming the existing stigma of Georgia's agriculture as "the weakest link of the national economy". They also present their systematic and comprehensive visions of how, with what resources, and in what manner it is possible to overcome the aforementioned stigma and turn the agrarian sector into a robust pillar of Georgia's economy.The authors of the monograph pay special attention to the development of the agrarian sector in one of its most critical aspects -

Economics and Business Referential and Reviewed International Scientific-Analytical Journal of Ivane Javakhishvili Tbilisi State University, Faculty of Economics and Business

ISSN 1987-5789 ESSN 2587-5426 doi 10.52340	Journal number 3 ∘ Elguja Mekvabishvili ∘ Metamorphoses of Globalization: Political Economy Aspect journal N 3.2023 The article discusses globalization of the economy as a component of the historical process and a natural result of its certain stage. In the evolution of globalization there are recorded turning moments or so-called bifurcation points, defining: • The logic of the beginning of globalization, manifested in the transformation of the internationalization of the world economy into economic globalization at the turn of the 1980s and 1990s;• Alternation of globalization forms with the forms of turbulent and confrontational globalization;• The determinism of the content of globalization of the economy and the trajectory of changes in its forms. It is noted that the current globalization is corporate globalization in its content. This means that it proceeds under the dictates of large transnational corporations and primarily serves their interests. Mainstream corporate globalization is characterized by internal contradictions, which are manifested at t Journal number 3 ∘ Paata Koguashvili ∘ Givi Talakvadze ∘ Ioseb Archvadze ∘ The Mountainous Region of Georgia – An Essential Component of the Country s Strategic Development Georgians are a nation with ancient independent culture and traditions. Our past and future are conditioned and internalized by religious, rational, or emotional origins connected to the land. All this led to different habits, desires, and aspirations of Georgians in practical life, which derives from the tradition of eternal relationship with the land. Any initiative, a declaration about the accelerated development of the national economy will remain only an expression of goodwill, if it does not take into account the task of complex development of agriculture, the condition for the formation, preservation, and reproduction of the village as the living space of the Georgian nation, the most important component of preserving the national identity. In addition, since a large part of the villages of Georgia are located in the mountains, the settlement and life of Georgians in this area is not only economically utilitarian. It has multifaceted, including demographic, cultural, and defensi Journal number 3 ∘ Teimuraz Beridze ∘ Occupational Analysis of Demand and Supply of Skilled Labor - a Cornerstone of Comprehensive Labor Market Information for TVET planning TVET and tertiary education systems are constantly under pressure to deliver graduates meeting the labor market demand. The performance of these systems is commonly judged by the: a) scale of shortages of skilled labor reported by employers, and b) surpluses of TVET - Technical and Vocational Education and Training graduates, some of whom may be unemployed or employed in low-skilled or different occupations leading to occupational and qualification mismatches. For various reasons, imbalances between the supply and demand for skilled labor may arise. For example, because the increasing education level of the population is outperforming the growth of skilled jobs in the economy, or industries do not absorb the TVET graduates. Also, trained persons may move abroad, etc. Likewise, an imbalance in the occupational structure of the labor market could arise because TVET and the tertiary systems may continue delivering graduates in occupations that give them Journal number 3 ∘ Eka Lekashvili ∘ Ia Natsvlishvili ∘ Women s Challenges on Starting Entrepreneurial Activity in Georgia The work is dedicated to the study of the challenges faced by women in Georgia when starting an entrepreneurial activity. The research was conducted using the STAR method interviews with focus groups. For the research process, a questionnaire was developed based on a test to determine/assess the potential of starting an entrepreneurship. Gender inequality in employment, education and income distribution still exists in Georgia. Not all groups in society have equal access to employment or entrepreneurial opportunities. The majority of the population in Georgia formally shares the idea of gender equality. At the same time, a certain part of the population shares the idea of the traditional distribution of gender roles. Empowering women for entrepreneurial career growth, in turn, serves several sustainable development goals: • Gender equality (#5)• Decent work and economic growth (#8) • Industry, innovation and infrastructure (#9). In modern economic science, entrepreneursh Journal number 3 ∘ Irma Tkemaladze ∘ Modern Labor Market in Georgia - Challenges and Solutions In today's labor market, it is crucial to understand the relationship between education, work experience, and professional skills in order to ensure effective employment. This article aims to investigate the impact of measures aimed at improving these aspects on the employment landscape. By analyzing the correlation coefficient, specifically Pearson's coefficient, we can determine their influence on effective employment. Furthermore, we will identify factors that hinder career progression and create barriers for new entrants to the job market. Additionally, we will explore the prevalence of non-standard employment forms and their potential for growth. Extensive research on the current labor market situation has shed light on the factors that impede career advancement and create artificial barriers for newcomers. Moreover, we have identified the factors influencing secondary and incomplete employment. In this article, we will delve into the scale of non-standard employment in the labor Journal number 3 ∘ Eka Gegeshidze ∘ Qetevan Lomineishvili ∘ Establishing an Approach to Generating Innovation and Successful Commercialization for Emerging Markets (The Case of Georgia) The role of innovation in modern society is growing systematically. Innovation is the main driver of the economy. In fact, the introduction of innovations is becoming vitally important in all fields. Nowadays, the existence of an organization may be questioned if they are not innovative enough and cannot successfully lead the process of commercialization of innovations.Modern society develops on the basis of innovations that lead to technological revolutions, and experiments are the main factor of creativity and innovation. Experimentation is a necessary precondition for innovation. An incremental, evolutionary type of innovation is also achieved through experimentation. The main thing is the constant, permanent use of the trial and error method. The models presented in the article highlight the importance of experimentation and emphasize the necessity of the continuous use of the trial and error method to successfully manage innovation processes.The ability to adapt to the environment Journal number 3 ∘ Davit Narmania ∘ Rusudan Seturidze ∘ Murtaz Maghradze ∘ Shorena Davitaia ∘ Mikheil Machitidze ∘ The Improvement Ways of SCADA System Management in Power Energy The development of technologies in the world has played a big role in the improvement of energy management. The level of development of electric energy has a great influence on the dynamics and arrangement of the country's productive forces, creating a necessary prerequisite for raising the standard of living of the population and improving working conditions. The level of the national economy and the energy supply of the population largely depends on the energy industry. Its development rates and scales have a decisive influence on the final results of the country's economic development. Supervisory Control and Data Acquisition (SCADA) is an important and relevant component of the electric power industry, which provides real-time monitoring and management of electricity production, transmission and distribution. The main purpose of the SCADA system is the management and operation of technological automated processes.SCADA system includes hardware and software components. The equipment Journal number 3 ∘ Ketevan Nadirashvili ∘ The Assessment of Risk Management Practice in Georgian Public Sector Risk management is critical for public sector organizations as they are exposed to different categories of risks affecting their reputation, efficiency and effectiveness of services, budget governance and overall public interests. To improve and strengthen governance principles in public sector, organizations need to become more proactive, identify and assess the existing or potential risks, respond and mitigate the risks that will eventually be reflected in better outcomes and decisions. Moreover, it is fundamental that the importance of Risk Management discipline is understood, knowledge and experience is gradually improved and appropriate strategies are in place. Hence it is necessary that robust and solid risk management frameworks are developed and implemented by public organizations.Given the above, the objective of the present article is to study and assess the current risk management practice in Georgian public sector. For that purpose, six major agencies were selected to condu Journal number 3 ∘ Valeri Arghutashvili ∘ Impact of New Legal Mechanisms of Tourism Enterprise Insolvency Protection on Georgia s Tourism Industry In case of insolvency of the tour operator and travel agent, there is a real risk of damage to the interests of the tourist, as the insolvency may complicate the implementation of the tourist package and at the same time, threaten the fulfillment of the existing financial obligations to the tourist. The purpose of the law is to balance the interests of the tourist as a "weaker party" by establishing preventive mechanisms, for this purpose it establishes a mechanism for ensuring the fulfillment of obligations arising from the insolvency of the tourist enterprise. It is important to assess the likely impact of these regulations on the tourism industry.Tourism in Georgia is developing at a fast pace, therefore, as a result of imposing new financial obligations for tour operators, there is a high risk that small and medium-sized business entities will not be able to meet these requirements, which is why there is a threat of their liquidation. Within the framework of the present study, new Journal number 3 ∘ Mariam Sharia ∘ Geographical Distribution of the Tourism Value Chain of Georgia by the Example of Accommodations The value chain of the tourism industry is remarkably diverse and includes many different sectors of the economy, be it agriculture, food industry, services, construction sector, etc. Accordingly, the development of tourism in the country, in the wake of meeting the needs of tourists can lead to the development of a number of other sectors and, in this way, have a positive impact on the country’s economy as a whole.However, the situation is different for import-dependent countries like Georgia. The value chain of tourism significantly deviates from the country's borders and, accordingly, there is an outflow of tourism revenues from the country. In order to make the most of the positive effects of tourism, it is necessary to optimize the spatial value chain and integrate the local product as much as possible.Before creating optimal spatial models, it is necessary to conduct an in-depth study and analysis of the current situation. Within the scope of this research, we have narrowed Journal number 3 ∘ Eter Kharaishvili ∘ Trends and Prospects of Digital Transformation in the Agri-food Sector of Georgia The paper substantiates the necessity of implementation of digital transformation in the agri-food sector of Georgia. The importance of digitization in increasing competitiveness is evaluated taking into account the peculiarities of the sector. The level of digital transformation in the agri-food sector of different countries is studied through bibliographic research; various opinions of researchers on the concept of digitization are evaluated.It is substantiated that digitization provides new opportunities for development in many industries; application of digital technologies allows ensuring the sustainability of the agri-food sector and increasing the productivity. Based on the analysis, the primary areas influenced by the digital transformation are revealed; it is concluded that the implementation of the digitization process should start at the enterprise level. The paper is based on various theoretical and methodological research tools - bibliographic research has been conducted; Journal number 3 ∘ Zhana Tolordava ∘ Digital Educational Technologies Digital technologies have for a long while taken up an important place in the economic development of many countries of the world. Digitalization is the process of wide distribution and implementation of digital technologies into various areas of public life: economy, business, culture, education, etc. Nowadays new digital technologies and innovative business models are implemented in every area of the economic activities, thus contributing to the emergence of digital economy. Digitalization (digital transformation) of education includes several tasks, such as: improvement of the skills and abilities of professors and teachers in the field of digital technologies, development of material infrastructure, development of online education; implementation of digital programs in the educational process. In this regard, the study of issues of digitalization (digital transformation) of education and its current problems has become a very important and called for area of scientific research.Und Journal number 3 ∘ Joseph Archvadze ∘ Revaz Gogokia ∘ Elguja Mekvabishvili ∘ An Important Work of National Economy on the Most Vulnerable Sector The monograph of the renowned experts in agrarian science - Mr. Revaz Asatiani and Paata Koguashvili - is dedicated to the most crucial field for the national economy and national security: the situation in agriculture, the problems, potential ways to overcome them, and development prospects.The authors not only realize that Georgia's state strategy should involve a sharp increase in agricultural production, an improvement in labor productivity in the agrarian sector, a drastic enhancement in the foreign trade balance, thereby overcoming the existing stigma of Georgia's agriculture as "the weakest link of the national economy". They also present their systematic and comprehensive visions of how, with what resources, and in what manner it is possible to overcome the aforementioned stigma and turn the agrarian sector into a robust pillar of Georgia's economy.The authors of the monograph pay special attention to the development of the agrarian sector in one of its most critical aspects -