MULTIDIMENSIONALITY OF THE ECONOMIC ACTIVITY CATEGORY: NATIONAL PECULIARITIES AND PROSPECTS FOR HARMONIZATION
Abstract
The article looks at theoretical approaches to understanding the category of economic activity and compares its interpretations in Ukraine, the European Union, the US, and Asian countries. The study is important because it must clarify the content of this category in light of the changes in Ukraine's economic law and its alignment with European regulations. Ukrainian legal doctrine traditionally associates economic activity with business entities, an organizationally defined subject, systematic implementation, value-based nature, risk-taking, and a focus on achieving an economic result. Regardless of a person's legal status, organisational structure, or profit orientation, their real involvement in the market circulation of goods and services is the crucial criteria under the legal system of the European Union. The US method is distinguished by a greater emphasis on revenue generation, economic value creation, added value, and the statistical assessment of the various activities' contributions to the country's economy. In Asian nations, market processes are combined with the state's important strategic and regulatory role in long-term economic growth, innovation, and industrial development. Based on the comparative research, the essay highlights the main distinctions between these methods and demonstrates how European integration, digitalisation, and new forms of market involvement have gradually expanded our knowledge of economic activity in Ukraine. The SMART method for organising the key elements of an organization's economic activities is also suggested by the research. This method enables the definition of unambiguous activity directions, the assessment of outcomes using quantifiable indicators, the formulation of realistic goals, the alignment of current activities with strategic priorities, and the management of execution terms. The suggested method might be helpful for enhancing company activity planning, organisation, and assessment as well as for creating a cohesive knowledge of economic activity in legal and economic research. It also provides a basis for further comparative research.
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