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Strategic decisions and risk management

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Vol 13, No 4 (2022)
View or download the full issue PDF (Russian) | PDF
https://doi.org/10.17747/2618-947X-2022-4

Статьи

290-303 1521
Abstract

The article reasons the need for changing the model of management education and corresponding tools and approaches to bring them in line with the challenges of a technological breakthrough and organisational transformations in the national economy that is going through an unprecedented overhaul of global economic ties and is restricted by sanctions. The authors suggest a paradigm of proactive training that is characterised by its focus on foreseeing changes by having a breakthrough research agenda, a quick conversion of research results into the educational content, research projects and activities, the flexibility of the content and formats of the educational process. The conceptual mechanism of a system for the anticipatory training of managers has been designed; potential methodologies have been identified for building educational modules for bachelor’s and master’s degree programs. By analysing the methodologies it was possible to develop a comprehensive approach to creating high-value educational products. The article describes some of the proprietary technologies that the authors use when implementing proactive education programs in practice.

The scientific novelty of the article lies in the formulation of the training concept for managers aimed at solving complex interdisciplinary tasks of a technological breakthrough. In terms of the practical value, the article presents a mix of educational technologies for the implementation of the concept. It includes electronic proactive leaning system, conveyor of continuous competence enhancement, digital modular architecture of the learning process, “module-in-module” technology.

304-311 1240
Abstract

The authors conducted a comparative analysis of the opinions of the target group of respondents to assess the results of implementing the state integrated information system of precious stones, precious metals. The results of the analysis are summarised, conclusions are formulated, proposals are developed that take into account the interests of both business and consumers, and in general, contribute to the implementation of an effective state budget policy.

312-325 1612
Abstract

The paper considers the models of organisational development of multidisciplinary companies and their business units. It is shown that the existing models need to be supplemented with two enlarged managerial competencies – management of incremental (modification) innovations and management of radical innovations. The proposed model of a business unit assumes that their development is structured as a progressive passage of the organisation through the stages of housing and communal services by developing the necessary managerial competencies for the next stage. The developed general models are used to form models of organisational development of the “Severgroup”  multidisciplinary corporation and its business units. The strategic portfolio of business units, its parameters and position within the framework of the matrix of housing and communal services of the industry are determined. The result of the study was the formulation of two strategies – “growth to the core” and “growth to the peak”. Models of organisational development of the corporation (changes in the composition and characteristics of the portfolio of business units) and models of transfer of managerial competencies have been developed for each strategy.

326-332 1049
Abstract

The author examines the features of the management policy and the monetary policy of the state on the profitability of the activities of Russian public companies (business profitability). The tightening of the monetary policy of the state (in particular, the growth of the key rate of the Bank of Russia without reference to the return on assets) may negatively affect the profitability of economic activity. The indicator of dividend payments is a signal for shareholders and potential investors. In addition, dividend payments are an indicator of the financial limitations of companies. Financial constraints are associated with the problem of adverse selection of financing - the choice of a source of financing taking into account its price. Effective management of current assets will allow rational use of them as an additional source of investment. The indicator of the contribution of management or internal growth allows you to evaluate external factors: market fluctuations, macroeconomic features, as well as the actions of financial speculators. This indicator establishes the real contribution of management to the value of the company. Systematic unprofitability of the company’s economic activity is a consequence of short-sighted financial policy or erroneous strategic decisions on the part of management. Management acts in accordance with fiduciary duties of integrity and reasonableness in the interests of the company and its shareholders expecting an increase in the value of the business. Therefore, the management decision should be made from the position of maximising market capitalisation. Then Russian public companies will act in the logic of a precautionary motive, saving a significant part of the funds for subsequent investment in priority projects under conditions of financial restrictions and sectoral sanctions. The growth of sales provides additional opportunities for the company to invest. The Wald, Breusch – Pagan and Hausman tests were carried out in order to identify an adequate forecasting model.

333-345 1271
Abstract

The article describes the modelling of strategic infrastructure project effects and results using methods of analysing direct and indirect effects and helping to determine the feasibility of railway infrastructure project implementation. Neglecting this fact significantly reduces the overall efficiency of infrastructure projects, and in some cases leads to the wrong decisions that reject project implementation.

Investigations made by authors allow to identify, classify and quantitatively estimate the direct and indirect effects from the implementation of infrastructure projects, including integrated assessment of budgetary efficiency and an assessment of economic effects for the development of territories.

Among indirect effects the special attention was paid to the multimodal effects resulting from the redistribution of passenger and cargo flows and more rational capacity of the transportation system. The attention was paid to the multiplier effects caused in related sectors of the economy, agglomeration effects leading to increased connectivity of urban and suburban areas and the corresponding growth in employment, investment and productivity, the effects of optimising subsidies, etc.

Scenario forecasting procedures were used within the presented investigations. Macroeconomic effects, bottlenecks in the railway system impact on the level of undertransportation of goods as well as price arbitrage were determined for various scenarios.

346-350 989
Abstract

The well-being of people directly depends on both the economy of the state and the personal economy, the correctness of budget management. Therefore, it is quite understandable that all groups and categories of society are interested in economic processes. Interest, which, in today’s changeable world, must be considered a request, does not decrease and requires clarification of categories that evaluate the economy and bring it to the right strategic decisions in budget policy. The economic categories of performance evaluation include economic efficiency and economic feasibility, the essence and difference of which, using specific examples, is evidently presented in this article.

351-363 1006
Abstract

The article reveals the main features and characteristics of the algorithm of actions to ensure environmental safety of the population in the areas of oil refineries based on the mechanism of health risk assessment at all stages of the life cycle of environmentally hazardous production facilities. Methodologically, the algorithm implements the provisions of existing standards, regulatory documents and recommendations on health risk assessment of the population and is a sequence of procedures for making informed decisions on ensuring that health risk to the population exposed to potential negative environmental impacts meets the regulatory level. Application of the algorithm ensures compliance with the regulatory level of environmental impacts on the border of the sanitary protection zone of oil refineries and adjacent residential areas.

A special emphasis is made on the stages of design and operation of environmentally hazardous objects, when the level of created health risks is especially sensitive to the results of decisions made. Timely identification of hazards and assessment of health risks at the design stage helps to choose the location of environmentally hazardous facilities, considering created risks in specific industrial and urban conditions. At the operation stage, the areas with highest risk levels of the sanitary protection zone boundary and the industrial site are identified, as well as priority production facilities and chemical toxicants (in terms of created risks). This gives a reason for adjusting the programs of industrial and environmental control, for specifying the priority of investment programs and plans of environmental protection measures. In practical terms the specific features of actions in conditions of high risks are defined to ensure the health risk meets the regulatory level in functioning of environmentally hazardous oil refining object, avoiding significant financial environmental costs as a result of making ecologically insufficiently justified planning and technological decisions at the design stage. The algorithm is universal, because it can be used for the existing production facilities and new construction projects, regardless of industry specifics. 

364-375 1411
Abstract

The key tool for economic growth and overcoming restrictions is the implementation of major infrastructure projects in the field of railway transport. Infrastructure projects aimed at organising passenger and freight rail traffic form a wide range of social effects, such as saving travel time, improving transportation safety, reducing emissions of harmful substances and noise levels, increasing physical activity, improving social integration and organising a barrier-free environment, agglomeration effects and an increase in subjective well-being.

At the same time, such projects are very capital-intensive and often cannot be implemented in full due to limited funding. Especially this factor plays a significant role in the current conditions of sanctions pressure. The combination of these factors leads to the need for comprehensive risk management when deciding on the implementation of an infrastructure project for the development of railway junctions.

Thus, the purpose of this study is to identify risks in the implementation of infrastructure projects, assess the identified risks and formulate recommendations for their reduction.

376-383 1769
Abstract

The article is devoted to the development of the concept of a single digital space for the effective functioning of the industry. A new model of industrial production organisation, the platform ecosystem are analysed. The analysis of the theoretical concepts of the world economy on its structure, the system of organisation of interaction between ecosystem participants, factors affecting its dynamic development is given. It is shown that digital technologies play an essential role in the organisation of the ecosystem. At the same time, digitalisation occurs in two directions: the creation of the digital space of the enterprise participating in the ecosystem and the creation of the digital space of the ecosystem of industrial production.

The analysis of the use of digital technologies in various industries is given. The rating of the use of digital technologies in industry is discussed. The analysis of the factors constraining the process of digitalisation of the industry of the Russian Federation is given. The concept of ecosystem, presented in the world literature, and its functional and organisational features are analysed.

The influence of institutional conditions on the functional characteristics of the ecosystem is discussed. The ecosystem management system affects the economic and technological efficiency of each ecosystem participant. The prospects for the development of ecosystems based on platforms are shown.

The ability of the Russian manufacturing industry to adapt digital technologies and the organisation of modern forms of production on their basis are analysed. It is demonstrated that the potential of modern production of complex multicomponent products is determined by the ability to scale based on industry 4.0 technologies. At the same time, most of the enterprises fulfill individual orders of consumers and do not participate in the production chains of such products.

The tasks necessary for the organisation of breakthrough development of manufacturing enterprises in Russia are formulated. For modern organisational forms of the manufacturing industry a non-departmental management body is proposed. Its structure and functions are discussed.

384-397 1838
Abstract

The article presents the results of the influence of digital technologies on the transformation of industrial companies’ business models and its analysis. The author has conducted a survey of industrial companies, at which point the most used advanced technologies are identified, the amount of investments and the investment pattern in digital transformation are analysed, as well as the purchase of foreign and domestic technologies, equipment and software by enterprises. The criteria for classifying digital business models used by production companies are formulated and two clusters are specified: platform-based business models and business models of “Factories of the future”. For the first time business models of digital transformation of companies in the Russian industry are specified: digital ecosystems, platforms for joint value co-creation, the introduction of a customising product, smart factory, remanufacturing and digital engineering. Digital transformation strategies used by industrial companies are specified for each cluster. The characteristics of digital transformation strategies are determined and the distribution of the strategies over manufacturing sectors are carried out.



ISSN 2618-947X (Print)
ISSN 2618-9984 (Online)