The economic necessity becomes the orientation of the enterprise management system to ensure sustainable development, which will create a basis for increasing the economic strength of the enterprise, solving environmental and social problems. Increasing the social status of workers at enterprises, meeting the socially significant needs of the population are the priority areas of dynamic socioeconomic transformations. The socialization of the economy is largely determined by the satisfaction of the worker's needs, the completeness of their involvement in the modern process of transformation and the effectiveness of methods of human resources management. The purpose of this article is to substantiate the foundations of socialization of organization sustainable development based on the principles of corporate social responsibility (CSR). To confirm the hypothesis of the growth of the role of CSR, which is connected with the necessity of maximizing the positive influence on society through the implementation of the strategy of interaction between the organization and stakeholders. The possibility of introducing business ethics standards at each hierarchical level of management (top management, middle management, lower level management, and employees) are considered. It is proved, that the development of corporate social activities is becoming the most important managerial innovation, the service sector is characterized by a greater orientation towards achieving medium-term reputational effects while reducing the focus on short-term risk reduction, socially responsible company can successfully implement the principles of sustainable development in its activities, taking into account the requirement to harmonize social, economic and environmental priorities.

Background: Activities of commercial banks are connected with numerous risks, the source of which is the internal and external processes of the bank. Objectives: Risk management science has been studying the origins of the risks, determining their impact quality and avoiding expected loss models from the 1950s. Method/Approach: Credit risk regressive analysis is based on the selection of effective factors, determination of their influence and prediction of future according to the correlation coefficient. Results/Findings: In the article, it is discussed the regressive analysis of operational risk. Conclusion: The effect of credit and operational risks on the financial results of the Bank is based on the results obtained and recommendations have been developed to increase risk management efficiency. Keywords: credit risk, operational risk, regressive analysis, risk management, forecasting.

Small and medium entrepreneurship (SME) is one of the most important sectors of the national economy. It determines the economic growth rate of the country/region and the structure of the gross national product. The article aims at evaluating the contribution of SME to the regional economic development on example Adjara A.R. (Republic of Georgia), investigating and analyzing importance of SME development at regional level and discussing the factors influence on its development. In the research section of the given article econometric analyses of SME key indicators is conducted by linear log-regression model based on statistical data of 2006-2019 years. The results of the research study show positive impacts of the number of employees and their productivity on gross value added. The study aims at underlining the government policy supporting an advantageous SME environment and conditions, which is a precondition for regional economic development.

Insurance companies form their own business models based on the interests of stakeholders. Changes in business models are due to the impact of COVID-19, deepening digitalization and customer orientation. Accordingly, the aim of the study is to systematize the approaches to business models of insurance companies using emerging market country (Ukraine) as an example, and to show the change in a business model according to the CANVAS approach under the influence pandemic. In accordance with the purpose of the study, business models of insurance companies were systematized and grouped into blocks: value-based, structural, complex, and strategic. The strategic block identifies strategic changes in the activities of insurance companies and reflects trends on the insurance market. With this in mind, business models of insurance companies should reflect the set of strategic decisions, their architecture, structure and facilitate the management of value creation operations on the insurance market. Business models have changed from traditional to innovative, hybrid and digital-oriented. The main changes in the business models of insurance companies are omnichannel communications, the launch of chatbots, Big Data, Mobile ID, Bank ID, online access to registers, Blockchain. The COVID-19 pandemic has led to a shift in business models towards socially responsible business and adherence to sustainable development goals.

None of the territorial authorities would be able to perform the functions of management of economic and social processes in their territories, to make adequate decisions appropriate in concrete situations, without knowing the status of their territorial budget. An analysis of the budgetary process includes several directions of research characteristic of its different phases. At the stage of budgeting it includes an expert study of the budget in terms of justification of its basic parameters. At the stage of implementation, it includes an operational analysis of the current state budget and a systematic study of trends in the income and expenditure budget. The final stage includes an analysis of the effectiveness and efficiency of use of budgetary resources. On this basis, the paper presents a system of indexes which makes it possible to assess the quality of the regional budget process and to identify the causes of breaches of development. It includes: 1. indexes specific to the structure of regional budget revenues and the dynamics of the relations between them; 2. absolute and relative indexes of the regional budget balance, 3. indexes of the income and expenditure proportionality in the budget; 4. a rhythmic analysis of expenditure from budgetary funds within the current budget; and 5. indexes of regional budget liquidity.