The article analyzes current trends in the development of entrepreneurship in West Africa in the period of 2022–2025 with a focus on Mali. It is shown that after the slowdown in the venture capital market, the shift from equity financing to alternative instruments (debt transactions, convertible notes, syndicates, grants and guarantees) is increasing, and fintech is becoming the key driver of entrepreneurial activity. The spread of mobile money, digital wallets, and individual blockchain services reduces the transaction costs of SMEs, accelerates turnover, and creates a digital footprint that increases access to finance in the conditions of a weak traditional banking infrastructure. Using the example of Mali, the paradox of sustainability is revealed: with political and institutional instability and a change in the regime of regional integration, the entrepreneurial ecosystem retains growth potential due to the compensatory mechanisms – digital financial solutions, a network of incubators and government/donor support programs. The tools and target groups of PAFEEM, PACEM, INCLUSIF, FACEJ programs aimed at youth and women, digital skills development, export competitiveness, and access to finance are considered. scaling up SMEs, but distributed solar generation and mini-grid projects are creating. The infrastructural factor is separately allocated: electricity shortage remains a barrier to new entrepreneurial niches and increasing business sustainability. It is concluded that the combination of fintech and distributed energy creates a sustainable infrastructure basis for businesses, allowing entrepreneurship in the Sahel countries to develop even with ongoing political and infrastructural risks.

The article is devoted to the construction of a model for assessing the macroeconomic situation of a country. The relevance of the topic under study is due to the significant level of uncertainty that characterizes the modern Russian economy. The high level of uncertainty greatly complicates the processes of forecasting economic indicators and decision-making. Such studies are important in developing effective strategies for sustainable development. The crisis assessment model is a tool capable of systematically measuring and analyzing the level of instability in the economy. The use of crisis indicators makes it possible to identify early signals of approaching economic crises, adjust approaches to planning and forecasting, and reduce the risks of errors in decision-making. The introduction examines a wide range of existing approaches to building models for assessing the level of economic stress, such as the logistic crisis probability model, the financial stress index, the Markov switching model, and dynamic differential equations. The author's model is based on the method of aggregation of normalized indicators, considering their weight coefficients. The data normalization is carried out using the "Z-normalization" method. The weighting coefficients were determined by the algorithm of step-by-step exclusion of factors from the target model. The model considered the indicators characterizing the general state of the country's economy, the state of the banking sector, foreign trade, the labor market and the stock market. The data from the official statistics of the Bank of Russia and the Federal State Statistics Service for the period 2004–2019 were used. Using the developed model, the crisis index forecast for 2020–2025 was made. Based on the results obtained, two intervals of the crisis state of the Russian economy were identified.

The article empirically analyzes the influence of socio-economic factors on the number of abortions in the regions of Russia. The relevance of the study is due to the ongoing demographic crisis, which is reflected in the natural decline of the population, and the need for finding additional reserves to increase the birth rate by reducing the number of artificial termination of pregnancy. The purpose of the study is to identify socio-economic factors influencing the number of abortions in the regions of Russia. The paper uses the methods of econometric analysis for panel data for 2019–2023 for 85 constituent entities of the Russian Federation. These methods include descriptive statistics analysis, correlation and regression analysis; tests for the presence of multicollinearity, heteroscedasticity and autocorrelation, as well as specification tests. The pool regression and regression models with fixed and random effects are constructed. The specification tests were carried out, which determined the fixed-effects model as the best one. The results showed that alcohol consumption, the number of obstetricians and gynecologists, GRP per capita, health care costs, the proportion of the population with incomes below the subsistence level and housing availability significantly affect the number of abortions. It has been confirmed that improvements in the socio-economic situation, increased financing of health care and improved housing conditions contribute to a decrease in the number of abortions, while high levels of poverty and alcohol abuse increase their number. The conclusion is made about the need for a comprehensive demographic policy focused not only on financial support for families, but also on improving the quality of life and conditions of social well-being. The limitations of the study are related to the short time period of the analysis and the lack of consideration of cultural and psycho-emotional factors. The prospects for further scientific work lie in the use of survey methods to identify individual motives for deciding on abortion.

In the context of accelerated economic growth and the expansion of government business support programs in Russia, the relevance of this study is caused by the necessity to improve effectiveness of government financial control to minimize the risks of misuse of funds and corruption. There are systemic problems such as unequal distribution of subsidies, insufficient data integration, limited resources of audit chambers, and insufficient efficiency of internal financial control in organizations in the regions, which leads to repeated budgetary irregularities. The purpose of the study is to develop recommendations for improving the system for detecting and eliminating budgetary irregularities based on the analysis for detectability level of such irregularities in Russia and in particular regions of the Siberian Federal District. The research methods used include a comprehensive approach, the analysis for documentary sources, quantitative calculations, and a comparative analysis of the data from the reports of the control and audit chambers of the regions of the Siberian Federal District and the Accounts Chamber of the Russian Federation. The concept for the development of state financial control has been developed, which includes measures related to improving the methodological support for the process of identifying and eliminating budgetary irregularities, the methodological support for the process of evaluating the activities of control bodies, optimizing the use of technical and human resources based on the implemented risk-oriented models, and developing interdepartmental coordination based on the unified digital platform of the Accounts Chamber of the Russian Federation. The findings of the study show that the introduction of digital technologies, the creation of a unified digital platform, and the use of analytical models, artificial intelligence, and risk-oriented methods contribute to improving the quality of external public financial audits. However, there are still several systemic issues, including the lack of unified methods for assessing effectiveness of financial control. The effectiveness of financial control should be determined by the ability of control and accounting bodies to identify and minimize the risks of budgetary irregularities in a timely manner, in accordance with the objectives of financial control.

The relevance of the problem of balanced regional development in modern Russia is due to a combination of factors: increased geopolitical pressure, structural imbalances in the economy, and growing demands for the quality of life. The effectiveness of regional governance is directly reflected in the pace of socio-economic development. Currently, there is a conceptual gap between the declared goals of regional development and the actual practice of governance. Despite the recognition of the importance of a strategic approach, many regions face challenges of inconsistent actions by authorities, businesses, and society, inefficient use of resources, and a lack of comprehensive solutions. Despite the diversity of scienti fic approaches, there is currently no unified system for managing the balance of regional development. This methodological uncertainty leads to significant differences in the practice of managing the socioeconomic development of territories. The purpose of the study is to develop and substantiate theoretically a comprehensive mechanism for managing the balanced development of a region that meets modern challenges. The mechanism is characterized by the integration of all its elements into a single management system that ensures coherence between different levels of government, the participation of business and civil society, adaptation to changing external conditions, and the achievement of targeted socio-economic development indicators.

In the development of technological sovereignty for Russian manufacturing enterprises related to the high-grade industry (deep multi-stage processing of raw materials), important processes are formation and implementation of a resource-saving strategy as an additional organizational and economic mechanism to ensure business continuity. Against the background of difficult macroeconomic conditions, the Russian manufacturers of certain industries (construction, food, medical, agricultural, and others) are addressing the issues of providing basic raw materials (polymer materials), the market of which is a complex and dynamic system that responds to all political and economic challenges. For manufacturers of the final product, critical issues of rationalizing the use of material resources in the production process are directly related to the supply of basic raw materials (polymer materials) from potential Russian and foreign suppliers, whose activities are influenced by key factors: the cost of oil and gas resources, changes in supply and demand dynamics, an unpredictable increase in logistical costs, the variability of regulatory policy, and improvement of environmental standards, innovative offers. Currently, domestic manufacturers of polymer materials and manufacturersprocessors are faced with problems of import dependence on foreign suppliers of raw materials, lack of supply of individual brands and types of polymers, inefficient tariff and customs regulation, disruption of technological and innovation chains with the world industry leaders. Due to the sanctions, the process of import substitution of certain polymer materials has been launched in Russia, but it requires large-scale investments, cooperation between manufacturers and research organizations, and careful consideration of managerial economic decisions to transform production.

The formation of an effective support system for multi-level economic entities with different capacity of the domestic financial market for attracting investment is one of the most important prerequisites for the growth of their economic activity and, consequently, increasing self-sufficiency of the territorial economies. The aim of this work is to substantiate and test a methodological approach to assessing self-sufficiency of the regions in the Volga Federal District, identify reserves for economic growth, and develop recommendations for improving it. The trend of decreasing self-sufficiency of the economies of the regions of the Volga Federal District was identified. It has been established that approximately 50% of the Volga Federal District regions are at a catastrophic level of self-sufficiency, necessitating the adoption of incentive and corrective measures to enhance their economic growth. It has been proved that the methodology proposed by the author allows for determining the efficiency of resource use, the possible economic growth potential, the development strategies for territories with varying levels of self-sufficiency, and promising investment areas. It is argued that leading territories, as "best practice" regions, through the exchange of knowledge, effective management decisions, and advanced technologies, are capable of significantly increasing the economic growth potential of lagging regions, thereby promoting them to a group with a higher level of self-sufficiency. The need for revising the composition of indicators in strategic planning documents by including performance, competitiveness, and self-sufficiency indicators is noted.

Benchmarking in online education is a dynamically developing area of the research, particularly in international practice, where it is considered a tool for evaluating educational programs and implementing effective digital solutions. In the Russian context, benchmarking remains fragmented: individual comparison methods are employed, but unified criteria for the quality of online learning that could ensure comparability of educational practices and consistency of management decisions are lacking. The analysis for recent publications reveals that the scientific literature presents numerous local approaches reflecting individual elements of the comprehensive use of benchmarking, but does not provide a comprehensive model for its application in the context of the digital transformation of higher education. This article summarizes key approaches to the use of benchmarking in online education and demonstrates that its potential lies not only in quality assessment but also in the ability to adapt and disseminate successful practices. Based on the analysis for domestic and international studies, the quality parameters of online learning are systematized, including strategic, procedural, technological, didactic, socioeconomic, and evaluative groups. The presented classification serves as the basis for benchmarking analysis and can be used for comparative evaluation of online courses and digital educational platforms at Russian universities. The obtained results highlight the need for standardizing parameters and developing a unified methodological framework for the development of online education. The scientific novelty of the study lies in the theoretical generalization of existing approaches to the application of benchmarking in online education and in the systematization of key parameters of the quality of online education presented in domestic and international studies.

The relevance of this study is driven by the rapid development of digital technologies, which are changing the principles of management and the organization of enterprise business activities. Digital management is becoming a key factor in the development of organizations in the context of the transition to a digital economy, which aligns with the priorities of Russian state policy as well. However, the problem of assessing the level of digital management maturity at enterprises remains insufficiently addressed. The aim of this study is to develop and test an approach to assessing the level of digital management maturity at an enterprise. A combination of methods was used in the study. At the theoretical and methodological stage, the definition of digital management was formulated and its key components were identified based on the literature review. In the process of approach development, the multi-level maturity assessment model was created using a scoring system (from 1 to 5 points for each indicator). At the pilot phase, the model was applied to assess 12 small and medium-sized oil and gas enterprises in the Samara Region using the interview data, documentation analysis, and expert assessments (June – October 2025). The scientific novelty lies in the development of a comprehensive model for assessing the maturity of digital management at an enterprise, structured around five components (management characteristics, data management, digital environment, process organization, and management quality) and describing five sequential maturity levels. The testing of the model revealed most of the studied enterprises are at the second level – "partial digitalization." These enterprises are characterized by fragmented use of digital tools, the absence of a unified enterprise management information system, and the prevalence of manual data collection and an ad hoc approach to management decision-making. The key weaknesses identified include a high degree of dependence of business processes on the human factor and the lack of developed data analytics. The developed approach not only allows for the diagnosis of the current state of digital management at an enterprise but identifies specific areas for its development, serving as a roadmap for the transition to data-driven management as well.

In the context of increasing competition in higher education, universities are increasingly turning to the analysis for student experience as a key indicator of educational quality. However, conventional scale-based methods for measuring satisfaction fail to capture the underlying causes of student evaluations and overlook the multidimensional nature of educational experience. This study proposes a two-stage approach to analyzing the feedback from 4910 students of a federal university, combining frequency analysis of open-ended responses with expert rubrication. This design makes it possible to systematize over 15 000 textual comments and to identify latent interconnections among various aspects of the educational process, internships, research activities, infrastructure, information environment, and socio-psychological climate. The findings show that students’ perceptions of the educational environment are shaped as multidimensional experience. The students evaluate the university as an integrated system, and a decline in the quality of one component leads to reduced satisfaction with others. The key drivers of satisfaction include respectful treatment, support, transparent communication, user-friendly digital services, and an overall service-oriented logic of interaction. The results have practical value for improving quality management systems in higher education, developing digital services, and designing an effective framework for «student – university» interaction.

In the context of the current personnel shortage, worsened in the Russian labor market since 2023, traditional management approaches require revision. Staff turnover in the trade industry reaches 45%, and the value of various categories of personnel is increasing. The article examines the problem of adapting human resource management (HRM) practices to the new realities of the labor market, where personnel is becoming a key competitive advantage. The purpose of the study is to develop a differentiated model of strategic personnel management that takes into account the value and uniqueness of employees depending on the company's business strategy. The methodological basis for the study is based on the synthesis of configuration and resource approaches complemented by the human capital architecture model of Lepak and Snell. The empirical verification was carried out using the example of three federal retail chains, which made it possible to identify the specifics of applying differentiated HR strategies in conditions of staff shortage. The findings of the study include the development of an adaptive HRM model that distributes employees into four quadrants and offers a set of policies for each group. The practical significance of the model lies in its flexibility and the ability to integrate with various business strategies – cost leadership, focus on quality, and innovate on. The model can be used as a tool for developing HR strategies adapted to the specifics of the Russian retail.

The article examines the theoretical and applied aspects of the formation of an anti-crisis management mechanism in entrepreneurial activity, analyzes conceptual approaches to the definition of an organizational crisis, and identifies key patterns of its emergence and development, as well as factors that influence the depth and duration of crisis phenomena. The article systematizes the elements of the anti-crisis management mechanism and describes strategies for its implementation, taking into account internal and external sources of instability, as well as market, institutional, and technological changes. Based on this, the principles of risk management are substantiated as an integral part of the anti-crisis complex, in close connection with monitoring, forecasting, and preventive management measures. After revealing the role of anticrisis resilience as an indicator of an enterprise's ability to maintain economic balance in the conditions of destabilizing influences, the article highlights the significance of technological solutions, digital tools, and human capital in general in the crisis response system. The study findings presented in the article can be used in the development of corporate anti-crisis programs, as well as in improving management decisions and updating educational courses in the field of anti-crisis and strategic management.

The article investigates the current state and development of risk management systems in the banking sector. The authors analyze the practices of major Russian banks in risk management, identifying differences in organizational structure, control principles, risk management approaches, and the degree of digital technology adoption. Special attention is given to use of risk management as a tool for making advantageous strategic decisions, assessing capital reliability, and defining risk appetite, as well as implementation of machine learning and AI for evaluating customer creditworthiness. The findings of the conducted study indicate that competent risk management significantly reduces the consequences of risk implementation, minimizing losses on credit portfolios and enhancing service quality. The importance of risk culture, personnel management in the process of building customer loyalty, investor trust, and regulatory confidence is separately noted. The authors propose a concept of understanding risk management not only as a tool for ensuring stability but as a strategic mechanism for enhancing bank competitiveness as well, contributing to reputation building, customer acquisition, and improving operational efficiency in conditions of market volatility. The conclusion is drawn about the necessity for banks to apply risk management not only directly for compliance purposes but also proactively to achieve the highest competitive advantages.

The article presents some aspects of the situation with the startup ecosystem in the Russian Federation and the People's Republic of China. They mainly concern the development of infrastructure and the use of certain sources and tools for financing startups in the modern economies of both countries. The author notes there is no regulatory legal act in Russia and China to define a startup as a business entity. However, the analysis for the scientific literature on economics and management suggests the concept of a startup is similarly interpreted in both countries. China's innovative practices are being worldwide observed with great attention and interest mainly due to the rapid transformation of the Chinese economy into an innovative one. Startups play a significant role in this transformation. The author highlights the requirement of significant financial investments in innovative activities in general and the creation and development of startups in particular. The comparative analysis for the sources and tools for financing startups in Russia and China has led to the conclusion there are different approaches to financing startups, and the advantages and disadvantages of these approaches have been identified. The author has proposed possible ways to apply the Chinese experience of financing and developing startups in Russia.

The relevance of this research topic is driven by the global geoeconomic transformation and increasing competition in the financial technology sector. In this context, China's strategy to create its own digital currency (DCEP) represents a unique case of building technological sovereignty in a critically important area. The study objective is to analyze Beijing's comprehensive approach, which goes beyond simply modernizing the payment system and aims at changing the architecture of both the domestic and international financial ecosystems fundamentally. The aim of this article is to analyze the strategy for implementing the digital yuan comprehensively as a multifunctional tool for strengthening China's technological, economic, and monetary sovereignty. The methodology is based on the system approach, including the analysis for regulations, the study of pilot project data, and a comparative analysis. The study found that the legal basis for the issuance was the ratification of amendments to the Law on the People's Bank of China, which established the digital yuan as legal tender. The successful experience in pilot launches in Shenzhen, Xian, and Suzhou was examined in detail, where the two-level distribution system was tested and a comprehensive ecosystem was created. The key elements include smart wallets supporting offline transactions and programmable money functionality, as well as deep integration into retail and government services. The key finding of the article is that the digital yuan is a strategic asset that allows China to reduce its dependence on global financial infrastructures such as SWIFT and Visa/Mastercard, create a new, controlled architecture for domestic and crossborder settlements, and gain a powerful tool for implementing targeted monetary and fiscal policies.