Development strategy
Under conditions of the modern globalized economy the growing role play industrial integrated structures (IPR), as some of the most efficient forms of business. IPRs presents the following advantages: they have a great potential for implementation of the competitive advantage strategy; they have the ability to diversify production and to create closed technology circuits; they offer the opportunity to save administration costs by centralizing some functions; they are more stable because they can transfer a number of risky operations to subsidiaries; they create conditions for enhanced privacy and control, etc. According to modern research it is the innovative development which appears to be one of the fundamental factors of entities’ economic growth. A special role in the implementation of activities aimed at the development of innovative IPR plays the prediction of their possible economic efficiency. The present article is devoted to the problem of assessing the effectiveness of measures taken for the innovative development of the industrial integrated structure. The methodical approach to evaluate the effectiveness of these measures is proposed, taking into account how the taken measures impact the innovative development program and the results of its activity in the various fields of its activities in the separate functional directions, as well as considering the combined action of environmental factors. This approach allows to predict the quantitative assessment of the expected result from the implementation of the elaborated program of IPR innovation development That, in turn, provides a timely and informed decisions of the management on the implementation of the elaborated program of innovation development.
The article presents the results of analysis of the global international intra-industry trade in metal products, its structures and trend of changes. It is clear that the international intra-industry trade in the global steel industry is actively developing. The level of international intra-industry trade in the Russian steel industry is much inferior to its level in the countries – largest producers of steel metal. Russian international intra-industry trade is carried out on a horizontal level. Unlike largest steel producers , Russia does not use in its foreign trade activity the international vertical intra-industry trade The trend of the Russian international intra-industry trade does not match its optimal trajectory. The preservation of this trend presents the risk that Russia will be involved in intra-industry trade in metal vertical intra-industry trade with unprofitable trade position when metal products of first production phase will be exported and products of the last phase will be imported. For planning, analysis and assessment of international intra-industry trade as a factor to increase the economic efficiency of metallurgical production, an index “the international intra-industry trade in the apparent steel use” is proposed. This index is in Russia considerably inferior to international leading steel producers. The positive trend and the increased role of international intra-industry trade in the Russian economy can be achieved on the basis of changes in development strategies of domestic steel companies by implementing the concept of non-property integration forward on the basis of the proposed organizational-economic mechanism of niche products output.
Under modern conditions the presence of an established positive business reputation plays a large role in the competitiveness of industrial companies. The image being a product of public assessment of the various aspects of the company, there appears necessary to apply different mechanisms for its multiplication and development, and , in particular, to intensify contacts, to expand social circle, to attract the attention of target audience to your work, etc. The objective necessity of systematic rising of the image, the inevitable subsequent image exchange between carriers considering the simultaneous development of communication instruments and methods of in the business promotes the integration of industrial enterprises in the informal social groups around image gravity.centres (vertical form) or in horizontal integration communities , built according to sectors or economic activity. The author believes that in the context of globalization, the further development of the institutions and of the «new economy» infrastructure the belonging to communities becomes one of the most important condition for the effective growth of the reputational capital. This raises a number of issues which require separate consideration. They are linked both with estimation of collective image and with economic motives and restrictions defining the behavior of associations participants.
The solution of the formation of national and regional innovation systems becomes fundamental for the socio-economic development of Russia. The activation of innovation activity at the state and regional levels is determined by stimulating the implication of innovations in production, creating the reliable system of commercialization of inventions. However, the orientation of the national economy on raw materials and, as a consequence, poor institutional environment appear often as a brake for innovative initiatives. The article discusses some aspects of the construction of an integrated innovation system considering the complex assessment of different issues. The key aspect of the system to stimulate innovation is the close interaction between federal and regional authorities, the implementation of a reliable governmental support of regional initiatives. However, without the interest of regional authorities in the organization of a distinctly structured local innovation process there will be no positive shifts in this direction. New models of governance, disclosure of internal resources, the realization of opportunities, high-quality organizational support for innovation and investment policies will promote the innovative activity in many economic subjects will increase coactivity of the small, medium and large businesses in the development of new ideas and implementation of scientific and technological innovations in the region.
The article is devoted to the actual issue how to estimate an innovative potential, which is recognized now as the basis for innovative development of economic systems, not only at the micro and meso, but at the macro level as well. To be able to analyze and develop indicators to assess the innovation potential of the company it is advisable to define the term «innovation», which has a fairly large range of semantic interpretation. The modern legislation accepts the following interpretation of the term «innovation»: innovation is « a recently introduced new or significantly improved product (goods and services) or process, a new method of sales or a new organizational method in business practices, workplace organization of external relations. The functioning of major industrial and economic systems is associated both with solving of current production problems using intellectual capital as a resource, and the formulation of new long-term goals for growth and development opportunities in the future. Study of the needs of the market, the development of a new product, process improvement, modernization of equipment represent tasks that will allow the company to reach a new level of competitive innovation. This is a task of strategic nature, the solution of which can bring the Russian enterprises on a new competitive innovation level. The neccesity to find the universal system of indicators to measure the innovative capacity of the enterprise, enabling the identification of latent reserves and opportunities for innovative growth and development of the company, effective use of available resources dis-close the importance of this topic.
Russia is very actively involved in the international economic relations (IER). Participation in the ERI brings both substantial benefits – through foreign currency earnings from the export of resources and extremely negative effects for the economy – the flight of capital, substitution of domestic products through goods manufactured abroad. This article discusses various aspects of Russia’s participation in international economic relations. The problem of global imbalances and the balance of payments in Russia is analyzed. It is shown that Russia is one of the countries receiving as a result of foreign trade, the greatest benefit from global imbalances At the same time, this effect is being annihilated by the negative financial account balance. The sanctions of Western countries against the Russian economy are scrutinized. The impact of sanctions on the economy is analyzed based on the analysis of foreign economic relations of Russia. A list of the measures necessary to ensure the modernization of the Russian economy both under sanctions and, regardless of their retention or abolition, as a whole, in the coming years is presented. Factors influencing the modernization of the industry, are development of the financial system, the control of tariffs of natural monopolies, development of infrastructure. The extremely important measures is increase of resource and energy efficiency ( targeted), including industry standards; updating of funds; productivity growth. The indirect measure to support the industry present government expenditures on research and development. Along with the devaluation as the course of sanctions it is necessary to maintain the systemic industrial and agricultural policy. Here is the key to development and changes in economy structure.
The role of the iron turnover in the economy can not be overestimated. To understand the processes of iron motion you need to know the proportion of metal used in the process of its production and distribution. Need to think of a complex structure intraindustrial relationships, establish proportions not only in the form of the most common indicators such as output, exports and imports of steel, but also how these parameters interact with each other. Knowledge of these flows will allow successfully predict metal fund, and to make long-term balance sheets of scrap. Interbranch balance (MOB) – economic-statistical model, which characterizes the inter-industry production linkages in the economy, as well as the connection between the release of products in the same industry and the cost of resources used up all the other sectors in the provision of this release. MPS is made as to the value and natural forms. In this article, the author of an original method, adapted to the needs of the calculation and analysis of the movement of steel between the individual stages of its production and consumption, based on the method-output tables and matrices «input-output» Leontiev. Also presented a method to predict the flow of metal in the individual stages of its circulation in the economy, depending on the projected volumes of final consumption of steel products in order to determine the forecast balances education and consumption of steel scrap.
The challenges facing the domestic economy in the conditions of the third industrial revolution predict enhancing the capacity for the development and implementation of modern principles of organizational and technological nature. Study of the interaction between universities, administrative authorities and the business is currently hampered by the lack of empirical data and the difficulty in organizing this process. The paper traced the evolution of the classical university in research institution and identifies signs of an enterprising university. The paper provides definitions of university technology transfer process. A version of establishing external links between a university and regional business is described. The ways of implementing the innovation strategy of the University and a mechanism to optimize the management structure of the university in order to reduce financial costs for the maintenance of the innovation infrastructure are described. For the normal functioning of an innovation system of the university it is necessary to allocate the infrastructure innovation in a separate unit with its own income and expenses balance. To efficiently manage its performance it is necessary to select an indicator based on the intellectual capital sales revenue to encourage its increase. The independent activities of an innovation infrastructure of the university has a positive effect on the overall functioning of the university and its place in the universities ranking.
Corporate management
In the second half of the twentieth century in the United States, and then in other countries around the world, there appeared a so-called innovative direction of the university. The roots of this phenomenon were, among others, the growing demand from the economy for technologies developed inside a university. Prerequisite for the implementation of the results of research activities was the task of ensuring the national defense. Diffusion and dissemination of technologies have caused, subsequently, the transfer of a part of them into the category of intangible assets (IA) of commercial structures. Similar processes were running parallel in our country as well., More than 60 years ago, leading Soviet scientists offered a principally new system of students’ training, basing on close collaboration between education, science and industry to address fundamentally new tasks of strengthening the defense and development of new trends in the industry. This idea has afterwards proved its viability and high efficiency. The authors present their vision on the development of the classical university concept and the establishment of the innovative part of the modern higher education school activity. Areas of organizational development are systematized, the theoretical justification, the financial management of modern techniques applied in an innovation department is presented.. It is expected that the development of this issue will beneficially impact the activities of universities, and as a result, their position in the universities ranking. The presented work has been performed in the frame of the Federal Program «Personnel»
The article is devoted to the development of an integrated risk management system in the field of quality assurance of industrial enterprise, as a way of bringing the quality characteristics of the products to a competitive level. The integrated system allows you to quickly identify, assess and manage risks in the areas of quality, to achieve consistency interests of all the people involved. This system makes it possible to reduce the total cost of quality, to minimize the risks, as well as to upgrade the skills of staff and the extent of its involvement in the processes of quality management. The effective management of the integrated system is controlled by an algorithm that includes five stages: the formation of goals, the identification and analysis of risks, the choice of instruments and methods of risk management, the implementation of management decisions and the monitoring of the status. The algorithm allows to quickly identify the risks of degrading products quality and the factors influencing the magnitude of losses from non-compliance products. The information obtained as a result of implementation of the algorithm is used to justify management decisions to optimize the structure of costs spent for investing in preventive measures ensuring the quality of products while simultaneously minimizing the risks.
The economy of the CIS countries
Investing in human resources is recognized in the realities of the a market economy to be one of the most important areas of the organization that can many times increase its effectiveness. Until recently, the concept of «investment in human resources» was absent in our management practice. I will be very difficult to solve this important for Kazakhstan socioeconomic state task, without improving the education management especially under the conditions when the country educational system have the a goal to perform training and retraining the specialists of new formation, capable to manage the economy at the micro and macro levels, taking into account the fact that the world competitiveness of a separate country is shaped today by the state of national education, the intellectual potential of its citizens, trained skilled workforce. The article presents the results of the study and optimization of the reproduction of the human capital of the organization based on international experience. The article presents results of a study dedicated to exploring and optimizing the system of human capital organization reproduction based on the world practice. Depending on the purpose of education three main groups of respondents were identified: those who are going to use this knowledge in the form of a diploma and self-improvement – 17 %; future businessmen (possessing personal business potential): –51 %; those, who are going to employ business knowledge in looking for career and prestigious (having career potential) – 32 %. The attraction of educated specialists enhances the value of the company’s human capital. The organizations and companies will be able to produce quality market competitive products. Thus. only a high level of education will allow Kazakhstan to achieve a high level of human development in each organization in particular and in the country as a whole.
The Republic of Uzbekistan pays a special attention to the expansion of the private sector share and to attraction of private investors to the most important branches of the economy. At the moment the leading place in the steel industry of Uzbekistan take «Uzbek Refractory and heat-resistant metals industrial complex (UzKTZhM)» along with «Navoi MMC», «AMMC» and JSC «Uzmetkombinat», each having a certain share of private capital. The article discusses the causes and characteristics of separate stages of privatization. as well as methods to overcome the current economic difficulties in every historical period under review. In Uzbekistan, the implementation of decentralization and privatization of enterprises took place in three main stages. Period 1990–1995. (formation) – 1995–2000. (development) – 2000 – up to now (restructuring and integration). The author proposes and justifies constituent elements to ensure restructuring of enterprises in the metal industry of Uzbekistan and the scheme of financial support of the open joint stock company «Uzbek refractory and heat-resistant metals industrial complex (UzKTZhM)» restructuring and integration The proposed scheme of financial support of restructuring and integration of «Uzbek Refractory and heat-resistant metals industrial complex « is based on the creation of the holding company «Uzbek Refractory and heat-resistant metals industrial complex» and its constituent four joint-stock companies:JSC «Molybdenum» AK «Wolfram», JSC «Light» and JSC «Engineering». The state should own the controlling stake.
Financial management
The article discusses the specifics and problems associated with the economic analysis and planning in the energy sector in Russia. Considering the disadvantages arising from the application of standard methods of economic analysis and forecasting in the energy sector, an analytical method is developed that makes it possible to neutralize these disadvantages. The authors suggest a version of their «economic cross» method in order to improve the tools of economic analysis and planning in the energy sector in the context of of the new federal law «On the state strategic planning» and the program «Energy efficiency and energy development.» Peculiarities of planning and analysis in the energy sector, as well as the reasons why traditional approaches are not always effective are discussed. The technique allowing to complement traditional methods of planning and analysis in order to better comply with these procedures, the goals and targets set in the new federal laws and programs are described. The paper presents proposals for the work with information contained in applications for grants under the state programs, allowing the comparability of the proposed projects and the transparency of decision-making. An algorithm for evaluation, which allows to compare different projects taking into account the time factor is presented.
The Russian government is up to update the program for the development of the coal industry until 2030. Among the expected results :an increase of the average annual coal reserves from the current 380 to 530 mln t. New capacities will be introduced ( 505 million tons altogether.), the existing ones will be modernize (about 370 million tons.). The article discusses the economic conditions (steps) for increasing revenues of a coal company. The histograms of the frequency of coal mining in the mines and pits in Russia, the dynamics of the coal industry activity for the years 2009-2013 are presented. The paper presents a rationale for appropriate relationship between different indicators of growth rates: between labor productivity and product unit costs; between coal production volume and the labor productivity; between revenue from sales and general costs of production; between profit and revenues from the sale of coal products.
One of the organization mechanisms to manage both separate economic entities, as well as the economy in general is the so-called cluster approach. Clusters present in Russia now one of priorities of industrial policy both on the national as on the regional levels as well. Presenting an instrument to consolidate advantages of economic entities, the cluster approach presumes the creation of a certain synergetic effects. According to clusters, decision-makers face a number of problems, including evaluating the synergistic effect. Quantity assessment of synergy arising as a result of operation of the clusters is the main objective of this work. The article describes the features and some problems in clusters functioning in modern Russia. It is assessed the role of synergies, as one of the most important results of cluster operation. The authors describe an algorithm of synergy quantity assessments based on comparison of the resulting performance of the cluster and the results of the company groups if they have been left outside the cluster. The parameters of the results are given from the decision-makers, it may be as absolute and relative. Using the proposed algorithm in the paper will assess the effectiveness of cluster formations.
The implementation of any investment project is connected with risk. Many factors considered while estimating the efficiency of an investment project in the future may differ from the assumed plan values measured from the current point of view. Despite fatal information uncertainty, the investors must be able to measure the riskiness of their decisions. The paper presents results of the work aiming to create a model assessing the level of project risk, which is governed not by the character of input data distribution laws, on their mutual dependence, but would take into account the information uncertainty. In addition, the model should give a definite answer about the level of risk of the project when different evaluation criteria are available.It has been shown that the estimation of the investment project efficiency applying the traditional methods of probability theory, cannot lead to a positive decision about investing because the random processes in this sphere do not obey the classical laws. On the other hand there exist the well-known methodology of the theory of fuzzy sets, which by means of expert assessments. more adequately reflects the uncertainty of this kind. The model of risk assessment applies three indicators : the safety ratio, the ratio of covering and the ratio of probability to get into the zone of inefficient investments. Because in this situation the experts have to determine not the specific values of unknown parameters but the balanced range of valuesin question the solution obtained is rather objective and is not difficult to perform. The applied methodology enables to get a positive result for decisions concerning investments.
The investment process in a vertically integrated production structure is briefly discussed. A particular attention is paid to the planning and evaluation of the investment program. The paper develops the idea that when evaluating the effectiveness of the investment program, the synergy projects at different levels of integration have to be considered The basis of this synergy is the impact of projects on each other when the value of the final products is created during subsequent stage of the technological process. In the implementation of projects at different levels of integration the technical and economic parameters of the chain experience different changes, influencing not only the specific business with a vertically integrated structure, but also other integration levels. It is proposed to estimate the synergy by the of overall internal profit at different variants of investment decisions. For the calculation it is necessary to simulate the technological chain of production of the final product. The techno-economic model can be constructed with the help of software based on mathematical economics. For better identification and recording of synergy in planning the investment program the author proposes to separate projects which influence the manufacture cost as a special kind, while projects that do not affect the cost,are included in the investment program as the simple sum of their effects.
The problem investigated by authors is connected with the necessity to ensure the competitiveness of domestic metallurgical enterprises production under conditions of the growing prices for raw materials, materials and energy carriers The problem to decrease product cost becomes very acute. The article presents results of approaches aimed at the personnel’s stimulation for economy of resources. The authors proposes the system to manage personnel’s motivation in reducing product costs. The authors believe that the personnel is not sufficiently interested in rational use of resources. Accordingly it decreases the effectiveness of introduced measures directed on economy of resources. In this regard the traditional approach presuming that the labor productivity rates have to exceed the salary growth rates is criticized. As a criterion of restriction of the money allocated for labor payment, the authors suggest to use a ratio of labor productivity growth rates calculated as the ratio between added value and personnel number. Different stages are listed how to calculate the money allocated for labor payment and financing of other expenses for the personnel. Introduction of the offered approaches will allow to increase motivation of the personnel to rationally use the resources.
ISSN 2413-662X (Online)