International Scientific Conference "Business and Society: Contemporary development priorities"


Almaty city                                                                                 24th of May 2016


Resolution of the

International Scientific Conference

"Business and Society: Contemporary development priorities"

organized by the High School of Finance and Management

EI "Almaty Management University"


 The modern level of business and society in Kazakhstan creates new trends and long-term trends in the development of the national economic system. Along with these alterations, major macroeconomic changes occur on a global scale, which include increasing globalization, some negative developments in the financial sector and in the areas of production of goods and services respectively. This gives rise to the need for identifying new business and society development priorities which taken together have created a platform for discussion at the plenary session of the conference and have become an agenda of the round table.

Participants of the conference noted that development of constructive cooperation and partnership between business and society is of particular importance in today's challenges of globalization and in the period of increasing uncertainty and risks in the external and internal environments.

After discussing the situation and long-term priorities, the participants believe that joint efforts of the government, civil society and business make it possible to coordinate strategic solutions as answers to the new challenges. Directions must be outlined, so that they can significantly reduce the impact of the crisis in the economy and society and will allow Kazakhstan to advance to a new level of economic growth.

Conference participants noted:

in the finance and accounting spheres:

- One of the challenges of globalization is the expansion of the sphere of Islamic finance, which in the long term requires regulatory support for the development of Islamic banking in Kazakhstan;

- Systemic risks have become significant in modern conditions in business. As a long-term priority in the response to this challenge, strengthening of risk management in business is proposed.

- In response to such challenges of globalization, as entrance of the Republic of Kazakhstan in the Eurasian Economic Community and the WTO, it is proposed, first, to ensure the effective use of budgetary resources through the optimization of fiscal policy, and, secondly, to develop new tax instruments of financial support of small and medium-sized enterprises .

- The need to harmonize national and international financial reporting standards has been noted, which requires, in turn, an increase of state, business and professional communities’ involvement in this process;

in management and entrepreneurship spheres:

- The scope of educational activities must be systematic and consistent, and be focused on the business environment, a fairly extensive array of methodological support of business education should be used in the educational process;

- There is a need in developing business projects with efforts to use their productivity in practice;

- There is a need to create a platform for social entrepreneurs and it is important to identify specific social entrepreneurship motivation;

- The main problem of youth involvement in business is primarily associated with excessive academic quality of education, lack of information about positive examples of business initiatives and investment. It is recommended to pay attention to the satisfaction of these needs when implementing youth engagement programs and projects in entrepreneurial activities;

- It is important to provide programs for adaptation of the young entrepreneurs to potential high risks and uncertainties in managerial decision-making. The fear of risking their own property, encountered with bureaucratic difficulties in creating new businesses do not encourage young people to exercise business activity. Entrepreneurs are not perceived among young people as a role model. Coping than success is seen more among young entrepreneurs;

- Development of integration between universities and manufacturing industries. Integration of education, science and industry is one of the main tasks of the Concept of Development of Education of the Republic of Kazakhstan. Science and education should be seen as a national asset that determines the level of development and future of the country and government support in this area is a strategic objective. A special place in the world is played by research universities, where the walls of the campuses are located in both auditoriums for lectures, where students receive theoretical material, as well as where there are laboratories in which, in fact, research activities take place directly

in the field of management and marketing of tourism:

- The development of inbound and domestic tourism should be a priority in the development of Kazakhstan's economy;

 - Many of the problems for the development of tourism in the area of ​​the Republic of Kazakhstan are already in the stage of resolution, but more needs to be solved. Today, we have to state: Kazakhstan has no coherent system of tourism with all necessary attributes - advertising, trade in services, transport, accommodation, food, communications, etc.;

- Kazakhstan has a rich history to intensify the development of the tourist industry. It is important to develop ecological (rural) tourism. Despite crisis of the last three years, entrepreneurs have begun to understand that creation of real-sought after tourist product could be an opportunity that will help overcome the crisis;

- Special attention should be paid to tourism in the segment of the "Great Silk Road" on the territory of Kazakhstan, which has historical and recreational opportunities to attract tourists;

- Address the lack of professional personnel for the tourism industry. International student exchange programs, involvement of teaching industry experts, as well as the introduction to the catalog of elective disciplines of such courses that meet the needs of the tourism industry and employers will provide Kazakhstan tourist market by qualified masters of their trade;

in the field of social entrepreneurship:

   - Expansion of the population of the scope and outreach to promote social entrepreneurship as the basic foundations of the socio-economic well-being of society and the creation of a favorable environment for innovation in Kazakhstan;

- Creation of a single database of social enterprises operating in Kazakhstan;

- Development of Kazakhstan business tools and case studies on the practical aspects of the development of social entrepreneurship in Kazakhstan, including the definitions, characteristics, international practice as well as the best examples of them in the realities of the financial crisis and increased risks of entrepreneurial activities;

- An information campaign, including public speaking and workshops to raise awareness of social entrepreneurship in Kazakhstan, as well as organization of the presentation of the publications developed among all stakeholders, including universities, NGOs, local administrations and businesses;

- Joint activities with the regions of Kazakhstan on the development of the Concept of development of social entrepreneurship in Kazakhstan, with a more detailed description of the activities of socially oriented non-profit organizations. It is important to start registering social business entities, including commercial and non-commercial organizations, individual entrepreneurs, and it is needed to identify the requirements and limitations for such type of activities, as well as the issues of establishment of tax incentives for such organizations.

The final decision of the conference participants has been to place the Resolution on the University website.