Assessing the effectiveness of innovative transformations of socio-economic systems and enterprise development within Industry 5.0

Authors

DOI:

https://doi.org/10.15587/1729-4061.2025.333006

Keywords:

Industry 5.0, enterprise, management, innovation, transformation, assessment, efficiency, capital, profitability, modeling

Abstract

The object of this study is the financial and economic processes of the enterprise's functioning under the conditions of innovative transformations of socio-economic systems.

The problem is to provide high-quality analytical support for making management decisions through updating the methodological tools that reflect the complexity of the relationships between innovative transformations, environmental and social standards, and financial indicators.

The study was conducted using data on 32 food retail enterprises in the city of Kharkiv and the Kharkiv oblast (Ukraine) over 2023–2024.

A scientific and methodological approach to assessing the profitability of an enterprise's capital has been devised, taking into account the specificity of innovative transformations of its socio-economic system under the conditions of Industry 5.0. Based on the principal components method, key determinants (innovative activity, financing of activities, cost of activities, operational efficiency) have been identified that affect the effectiveness of innovative transformations and explain 77.81% of the variance in the profitability of capital. Economic and mathematical models of the dependence of the return on capital on microenvironmental factors were built. It was found that the return on capital increases by 1.0692% due to innovative activity, financing of activities and operational efficiency, but decreases by 0.58% due to increased costs.

The practical value of the proposed scientific and methodological approach relates to the possibility of using models to identify reserves for increasing financial performance and forming recommendations for overcoming negative trends that prevent the achievement of target parameters of sustainable development of enterprises under the conditions of Industry 5.0

Author Biographies

Nataliia Kashchena, State Biotechnological University

Doctor of Economic Sciences, Professor

Department of Accounting, Auditing and Taxation

Hanna Chmil, State Biotechnological University

Doctor of Economic Sciences, Professor

Department of Marketing, Reputation Management and Customer Experience

Oksana Chumak, State University «Kyiv Aviation Institute»

Doctor of Economic Sciences, Professor

Department of Economics and Business Technologies

Iryna Nesterenko, State University «Kyiv Aviation Institute»

Department of Economics

Arkadii Mykytas, State Biotechnological University

Doctor of Economic Sciences, Associate Professor

Department of Finance, Banking and Insurance

Yevhenii Chmil, State Biotechnological University

Department of Accounting, Auditing and Taxation

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Assessing the effectiveness of innovative transformations of socio-economic systems and enterprise development within Industry 5.0

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Published

2025-06-30

How to Cite

Kashchena, N., Chmil, H., Chumak, O., Nesterenko, I., Mykytas, A., & Chmil, Y. (2025). Assessing the effectiveness of innovative transformations of socio-economic systems and enterprise development within Industry 5.0. Eastern-European Journal of Enterprise Technologies, 3(13 (135), 35–46. https://doi.org/10.15587/1729-4061.2025.333006

Issue

Vol. 3 No. 13 (135) (2025): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

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Copyright (c) 2025 Nataliia Kashchena, Hanna Chmil, Oksana Chumak, Iryna Nesterenko, Arkadii Mykytas, Yevhenii Chmil

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