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Strategic decisions and risk management

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“Strategic Decisions and Risk Management” is an international peer-reviewed journal in the field of economics, business and management, published since 2010.

The journal is a platform for interaction between scientists, experts, specialists in state administration, entrepreneurs and business practitioners to discuss various aspects of digital transformation, impact of digital technologies on the economic, management and social aspects of the activities of the state and companies, as well as risks associated with digital transformation.

 

1. Strategic managerial decisions and Decision-making process:

     ∙     Development, implementation and execution of strategic and long-term managerial decisions;

     ∙     Rational and behavioral methods and techniques in decision-making and managerial problem solving;

     ∙     Making decisions as a cognitive process. Application results of neurosciences for the decision-making process;

     ∙     Strategic managerial decisions in organizational context;

     ∙     Tools and techniques for economic rationale for managerial decision and evaluation of their implementation performance;

     ∙     Practical use of software systems supporting decision-making.

2. Strategic management and business strategies:

     ∙     Development process, implementation and execution of the strategy in business organizations;

     ∙     Strategic changes and leadership;

     ∙     Innovation, entrepreneurship and corporate entrepreneurship as strategic development factors;

     ∙     Long-term impact of the environmental, social, and governance criteria (ESG), and Sustainable Development Goals on business strategies;

     ∙     International business strategies.

3. Technological development and operational strategy:

     ∙     Technological development and its impact on business strategies and business models;

     ∙     Operational strategies: development and rationale;

     ∙     Digital business transformation strategies and implementation of the fourth industrial revolution technologies;

     ∙     Methods and techniques of development and implementation of new products and technological processes.

4. Risk management:

     ∙      Identifying and analyzing of risks when developing and implementing managerial decisions. Methods and techniques;

     ∙      Management methodology for strategic risks;

     ∙      Quantitative and qualitative methods of risk assessment.

“Strategic Decisions and Risk Management” welcomes articles from authors from different countries. Any articles submitted shall meet the standards of scientific character and uniqueness. The quality of articles is assessed through double blind peer review.

The editorial board and pool of reviewers brings together leading experts in the field of shaping development strategy and digital transformation of business, introduction of new digital technologies, risk management, public administration, economy of knowledge and innovation, representatives of government authorities and development institutions.

The journal is published four times a year. All materials are posted on the website and are available for download at the link: https://www.jsdrm.ru/jour 

The journal publishes articles in both Russian and English.

“Strategic Decisions and Risk Management” is in the updated list of peer-reviewed journals of the Higher Attestation Commission of the Ministry of Education and Science of the Russian Federation for publication of the main scientific results of theses for the degree of Doctor and Candidate of Sciences.

Every issue of the journal is fully translated into English. We accept articles free of charge.

Current issue

Vol 16, No 3 (2025)
View or download the full issue PDF (Russian) | PDF

Статьи

212-227 19
Abstract

This study explore the pertinent role of sustainability, trade direction diversification, productive population, and foreign direct investment across selected countries of Asia is viewed of leveraging on a battery of estimators i.e. Augmented Mean Group (AMG), Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares, and Standard Errors by Driscoll and Kraay methods for robust estimates and accounting for endogeneity and cross-sectional dependence for the selected bloc. Empirical results that foreign direct investment (FDI) exerts a negative effect on sustainability. Thus, implying that FDI growth in the study area dampens economic sustainability while productive population and trade engenders sustainability in the selected Asian blocs. These outcomes have inherent polices implications which highlights the need for robust trade and productive population strategies and policies which will trigger increased sustainability. More insights are renders in the concluding section.

228-239 20
Abstract

Corporate governance structures are progressively acknowledged as fundamental facilitators of ICT governance within the public sector. However, within the context of developing nations, the operationalisation of governance principles into tangible ICT outcomes frequently remains an area warranting further scholarly inquiry. This article examines the practical advantages afforded by corporate governance mechanisms as applied within South African governmental ICT settings, drawing upon qualitative data derived from 55 comprehensive interviews conducted with Government Information Technology Officers (GITOs). Through the application of thematic analysis, four interconnected domains of benefit were identified: heightened regulatory adherence, enhanced transparency and accountability, optimised information system efficiency, and improved project accomplishment rates. Whilst established governance frameworks, such as COBIT and King IV, are demonstrably institutionalised, their efficacy is primarily evinced through their capacity to foster ethical stewardship, facilitate systematic strategic planning, and ensure coherence across diverse ICT functions. This investigation contributes to the extant literature by furnishing an empirically substantiated, practitioner-informed exposition of governance enactment within intricate administrative ecosystems. The resultant findings possess considerable practical utility for public sector organisations endeavouring to harness governance as a catalyst for digital transformation, particularly within the resource-constrained environments characteristic of many developing economies.

240-249 16
Abstract

This paper sought to explore the impact of corporate social responsibility on organizational growth in the context of First National Bank Botswana. First National Bank Botswana is one of the leading organizations in the banking industry that have managed to stay relevant and dominate the banking industry. FNB dedicated itself to contributing to the wellbeing of the communities in which they operate as well as other relevant stakeholder of FNBB through its corporate social responsibility (CSR) mandate. The purpose of this paper was to establish whether these CSR initiatives had an impact in the organization’s growth. Specifically, the paper intended to establish the focus of FNBB’s corporate social responsibility, to find out the social benefits of FNBB’s CSR, to determine person-year impact of CSR and establish the major stakeholders of FNBB’s CSR.

250-261 18
Abstract

This article discusses the challenges of strategic risk management in the supply chain operations of the oil and gas industry in Uzbekistan. Using the case of JSC ‘Uzbekneftegaz’, the study identifies critical weaknesses in the current material and technical supply (MTS) system, including a high level of import dependency, fragmented data, and a low level of digital maturity among suppliers. The need for a shift from reactive to predictive planning is supported by the use of digital tools and advanced analytics. The author proposes three innovative tools for predictive planning — PIRSP (Predictive Index of Risk of Supply Problems), PESI (Predictive Evaluation of Supplier Integrity), and DLI (Digital Literacy Index). These tools allow for a quantitative assessment of supply disruption risks, supplier resilience, and levels of digital integration. The paper concludes that predictive planning has a high potential to strengthen supply chain resilience, reduce operational costs, and enhance strategic agility for oil and gas companies.

262-274 17
Abstract

Digital servitisation is the integration of two innovative approaches that contribute to modern companies’ competitive advantage creation: servitisation and digitalisation (digital transformation). The article reveals the essence of these approaches and describes various types of product-service systems (PSS), which are the foundation for forming a service strategy. A comparative analysis of approaches to the typology of servitisation strategies is carried out. The prerequisites and possibilities for the configuration approach in determining successful models of strategic behaviour are shown. The principles of developing a digital servitisation strategy are defined: equifinality, rational choice, relationality, ecosystem and strategic alignment. In accordance with the principle of strategic alignment, a generalised scheme for creating a servitisation strategy in a digital environment (digital servitisation strategy) is proposed, which is based on a coupled assessment and forecasting of current and target service levels and the company’s digital maturity. Key areas for assessing the level of a company’s servitisation have been highlighted. The possibilities of three types of service strategies for companies at different levels of digital maturity have been shown.

275-287 16
Abstract

The article explores the challenges to Russia’s economic security caused by the development and implementation of artificial intelligence (AI) in the context of digital transformation and global technological competition. The purpose of the study is to identify the most significant threats to the country’s economic security in the context of the popularisation of AI technologies and propose measures aimed at addressing them, taking into account the current situation. To achieve this goal, the authors analysed the dynamics of the Russian AI market, its structure by industry and growth rates, as well as the main external and internal risks associated with the use of AI technologies. Special attention is paid to the trends in the development of the AI market, cyber threats, economic and cyber espionage, proliferation of deepfakes, and problems of technological dependence on foreign suppliers and sanctions pressure. Internal challenges include staff shortages, polarisation of digitalisation in industries, concentration of resources in large companies, and lack of regulatory oversight. It is shown that these factors significantly limit the development potential of the domestic AI market and create prerequisites for economic and technological vulnerability in the country. The article suggests measures to minimise threats, including the development of domestic solutions, decentralisation of resources, annual monitoring of digital maturity and digital literacy in industries, the use of various mechanisms to support small and medium-sized businesses depending on the industry affiliation and the role of a company in a particular market. It also proposes improvement of the regulatory framework, relaxation of regulations, and provision of comfortable working conditions for IT specialists in Russia, as well as training of qualified personnel. The conclusion is drawn about the need for a comprehensive approach to ensuring Russia’s economic security in the context of the rapid development of artificial intelligence. The results obtained can be applied both in the practical activities of organisations using AI technologies and in the activities of government authorities to develop strategic and other policy documents for the development of the AI market.

288-296 14
Abstract

The Federal Law of the Russian Federation ‘On the Development of Small and Medium-sized Enterprises in the Russian Federation’ contains a contradiction between the goals of administering the small enterprises. To resolve this contradiction, it is necessary to investigate the core signs in order to institutionally guide small enterprises. The article’s urgency is to find a scientifically sound criterion to classify the diversity of small venture enterprises based on the resource-based approach. Due to the Scopus scientometric analysis, a two-pronged criterion has been determined: the way a small enterprise achieves economic sustainability depends on its degree of resource specialisation; the possibility of external interference affects a small enterprise dramatically. The content analysis of scientific literature reveals that market regulation is insufficient to achieve the goals of small-scale venture enterprises development. The practical conclusion is that enterprises should be distinguished according to the degree of specialisation in their resources, in order to be objects of active state-institutional industrial policy.

297-302 14
Abstract

This paper aims to analyse what specific high-level capabilities are considered by scholars to be the most important for the organisation to develop in order to facilitate innovation. Precisely, the paper explores what is the perceived effect of these capabilities on digital product innovation metrics ‘time-to-market’ and return on invested capital. The statistical method used in the research is PLS-SEM, with data gathered from middle and top management of Russian companies in different industries using a 5-point Likert-type questionnaire. The results showed a significant and relatively large effect of seizing and transformation capabilities on such metrics as time-to-market and return on investment, whereas the sensing capability only showed a considerable effect on the time-to-market metrics and a moderately small effect on the second metric.