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The Transnationalization of Business Activities in the Format of Determinants of Development of the Global Consulting Business
Kosichenko I. I.

Kosichenko, Irina I. (2019) “The Transnationalization of Business Activities in the Format of Determinants of Development of the Global Consulting Business.” Business Inform 6:21–26.
https://doi.org/10.32983/2222-4459-2019-6-21-26

Section: Globalization Processes in the Economy

UDC 330.341.1

Abstract:
Aggravation of competition in all branches and sectors of the global economy objectively motivates business structures to constantly improve the quality of goods and services, improve the service, introduce new technological developments, optimization of production processes. With this in mind, the author discusses defining of the progressively stronger trend towards the gradual transformation of the process of natural interpersonal interaction for sharing of experience into a highly specialized form of providing specific professional services, which are known as consulting services. The globalizing determinant, which powerfully influences the dynamics of the global consulting business, is an active development of the processes of transnationalization of capital and production. The dynamic scale-up of the transnationalization of business activities causes the growing needs of corporate structures in: offshoring their financial and economic operations and choosing the offshore preferences; using instruments of the financial tax engineering; the legal and notary support for their offshore operations; optimizing the operating, investment and tax costs; consultative cooperation with the national tax authorities of countries of location of the subsidiaries (concluding tax agreements, negotiating); improving the efficiency of centralized management and the operational effectiveness of modernization of production; and also deepening the internal corporate division of labor in both the fragmented transnational networks and the global value chains. The synergistic effect of the indicated globalized determinants is the main mechanism for the formation in the first quarter of the 21st century of the global model of the world-wide market of consulting services, which demonstrates a fairly high growth rate of capitalization as a reflection of the steady growth in global demand for consulting services.

Keywords: consulting, diversification, transnational capital, business activities.

Tabl.: 1. Bibl.: 9.

Kosichenko Irina I. – Applicant, Department of International Accounting and Auditing, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]

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