Currently, Russia is creating a new economic reality caused by the superposition of several processes, such as the instability of the global economic system, increasing global competition, increasing role of human capital and innovation processes in all spheres of national economy. The urgent need becomes evident to switch the model from the raw materials export to the sustainable development one. The establishment of sanctions by Western countries against the Russian economy aggravates this situation and at the same time gives Russia a chance to solve the entire spectrum of the problems arised.

We need to critically evaluate the problems of adaptation of organizations in turbulent environment and to form adequate and prompt responses to global challenges. The relevance of the problem becomes evident when we face the inability of some companies to adapt to a new competitive situation.

The uncertain environment significantly affects the management and functioning of the organization. The main characteristics of the environment are its uncertainty and dependence on resources. The uncer tainty is linked with the instability of the environment, its simplicity or complexity. Dependence on resources is created by shortages of material or financial resources of the organization. In turbulent conditions, the organization applies the tools of adaptation to the external environment and appropriate strategies.

The article presents the analysis and assessment of one of the leading sector of Russian industry in the last 3–5 years, reviews its strengths and drawbacks. The requirements of modern international economic conditions indicate the need for production improvement, and are especially relevant when conducting a policy of import substitution. For implementation of this task some current criteria for a successful development of the industry that are common to many developed countries have been identified. These criteria are the quality of the produced fuel, the intensity of crude oil refining, the ratio between the number of processing plants in the country and the volume of oil production, industry infrastructure, as well as the attracting of external capital and the main directions of investment flows. To determine the effectiveness of functioning indicators in developed and developing countries, the development trends in the direction of financial flows in the sector, including the amount of funds and the peculiarities of processes designed to update the technical park have been identified. The data were taken from official domestic and foreign sources. The possible future path of growth affecting the basic concepts for qualitative development of the refining sector of the economy are described. The urgency to apply the state industrial policy is grounded.

The paper presents similarities and differences of innovative activity of ferrous metallurgy enterprises in Russia and abroad, The metallurgical companies have been studied that have succeeded in innovations . The paper analyzes the system of work with innovations in foreign steel mills and sets out the main directions of the analysis such as: what is the base of the system, the main directions of foreign steel industry activity, where lay the attention foci. The paper defines the type of model of innovative development of foreign iron and steel enterprises and identifies measures to stimulate innovation in the Russian enterprises. The article discloses the advantage of foreign steel companies in work with innovation, shows, how to activate the innovative activity at the enterprises of ferrous metallurgy of Russia, picks out the promising innovative projects. The study provides examples how the work with innovations is organized the foreign steel companies, presents the factors due to which the situation in Russia’s steel industry is less favorable. In addition, the authors identify arrangements for innovation, which will ultimately improve innovation activity in the Russian enterprises.

Presently, the Russian economy is experiencing quite a difficult period characterized by instability and uncertainty of the current processes, the stagnation of the main indicators reflecting the economic development, the preservation of the economic sanctions of the West, the instability of the national currency. Under these conditions, monoprofile municipalities – towns, whose economic and social situation depends, as a rule, on the effectiveness of the operation of one economic entity, become the most vulnerable. Accordingly, the relevance of research aiming to improve the management of the development of city-forming organizations ensuring the stability of both the municipal economy and the country as a whole significantly increases. The aim of the present study was the structuring of city-forming organizations, intended for further development of the basic strategies for their development. The article considers the legal framework determining the status of city-forming organizations and single-industry towns of the Russian Federation in view of its specific character at the federal and regional levels. Based on a study of existing classifications of mono-towns and city-forming organizations the authors propose classification of the last ones, using elements of the cluster analysis. The proposed three-level structuring takes into account the specifics of the region, the municipality and the particular business entity that allow to create the typical options strategies for the development of specific cityforming organizations.

This paper examines trends and actual problems of the Russian mining industry, suggests ways and methods to solve them by restoring the domestic machine-building industry, the development of research activities to improve the technology of extraction and concentration, suggests improvements of legislation in the field of mining and so on. The scope of the industry in need of innovation, ranging from exploration and finishing technologies ore mining and concentration is listed. The necessity of re-engineering and modernization of mining operations, which contributes to a significant increase in the efficiency of their operation is stressed. The peculiarities of mining industry, targets public and private investment in mining is determined. The current policy objectives of the mining industry in innovation in order to stabilize the enterprises and the subsequent strategic course to strengthen their position in the competitive environment of the market is considered. The volume of gold extraction in recent years is demostrated. The innovative technologies that improve the efficiency of production, new ways of enrichment used in the world, «dry» and «wet» methods, their advantages and risks are considered. The method of determining the economic efficiency of innovations in business practice to assess the effectiveness of investment and innovation projects is specified.

The article is devoted to the aspects of risk management procedure. The author substantiates the sequence of steps of risk management in a corporation, discloses the contents of each stage. A model of constructing a system of risk management in the corporation, based on the theory of joint value creation is suggested . This model is characterized by the integration of strategic planning, the system of strategic indicators and key risk indicators of the corporation. The author’s approach is based on the theory of joint value creation of the corporation, which implies the introduction of a sustainable system of risk management of each internal and external customers of the company. The integration of risk management and strategic management by determining the related key risk indicators for each indicator in the the strategic indicators system (SIS) is suggested. It is proposed also to improve the economic and mathematical methods used for risk analysis and assessment, namely to use the fuzzy logic methods ( the method of fuzzy numbers), because this method allows to estimate the probability of risk under conditions of uncertainty, which is especially important for the economic environment with stochastic input. Thus, the article describes the «pitfalls» that occur at each stage of risk management in corporate management and suggests approaches to improve corporate risk management system.

Close cooperation with the BRICS countries are always in line with the challenges facing the Russian economy. The relevance of this trend has intensified due to the complex geopolitical situation and to sanctions imposed against Russia from Western countries and the United States; such sanctions could not but entail the strengthening of the development of Asian, Latin American and African directions of Russia’s foreign economic cooperation. At the same time, the process of unification of BRICS countries have its contradictions and problems. Based on the evaluation of the major trends of economic development of the BRICS countries, the characteristics of the state of their industry, transport infrastructure and foreign trade it is disclosed that BRICS countries bear prerequisites for the development of further cooperation. Highlighted are main areas of possible technical, scientific, innovative and industrial cooperation, promoting BRICS international competitiveness.

The article describes the principle theoretical aspects of the international exchange. It is shown that the development of the world economy leads to a permanent transformation of foreign trade activities: the international cooperation, the monetary, financial and other relationships change, new forms appear. Particularly acute is the question of the role of the state in the industrial exports support. The authors analyze the features of the world experience of export support and show that the current challenges of the global economy often force the state to support the exports in order to strengthen the role of national companies in international exchange. The performed analysis shows that , despite the liberalization of modern trade and increased freedom of companies performing the foreign economic activity, the state has still to regulate trade relations and apply measures to support the export.

The aim of the article is to test basing on real data one of the methods to evaluate the cost of the brand of a trading company and to confirm the effectiveness of its branding. The brand of a trading company is one of its assets (resources) and the most effective one judging on the «cost / result» ratio. The availability of the brand (trade marks) presents the basis for competitiveness and development of the company. Evaluation of the brand presents not only a theoretical but also a practical task. The interaction between theoretical research and practical calculations allows to construct a theory of evaluation of intangible assets and, in practice, to increase the market value of the company. The article presents a brief analysis of the Premium Profit method of brand evaluation and calculation of the cost of brands owned by CB trading company. The results show the effectiveness of branding. The method of such brand effectiveness calculation can be applied in trade companies as well as on other companies having a well arranged calculation of sell and profit of certain types of products or services. Methods of calculating the value of the brand (trade marks) is recommended for traders to increase their capitalization and competitiveness.

RETRACTED.

In a situation where the patent holder steadfastly refuses to license his invention, despite the need for its use in certain circumstances, the state stands to protect the public interest against the interests of the copyright holder. Compulsory licensing of technology is a common practice and is present in different forms in the US and the EU law. In some cases, the public interest is recognized as more important than the private interest of the patent holder, who totally bans to use his intellectual property The possibility of a compulsory license without the permission of the patent holder is fixed in Art. 1239 of the RF Civil Code. Article 1362 of the Civil Code defines the conditions of a compulsory license for industrial property. The Berne Convention on Copyright mentions the feasibility to introduce compulsory licensing in favor of broadcasting organizations . The TRIPS Agreement defines the conditions that must be met when issuing compulsory patent license. An analysis of foreign sources shows that compulsory licensing is one of the most effective mechanisms for reaching a compromise between interests of the author and society.

Ban concept of intellectual property is detrimental to business, like any other monopoly. On the other hand, the authors of intellectual property should be adequately rewarded for their creative work. The article confirmed the feasibility of shifting the balance of interests of the right holder to society, both in the field of industrial property and copyright.

In modern conditions of financial and economic instability, consumer prices growth and tariffs, the Russian aerospace industry enterprises faced the challenge of finding new ways of maintaining price level providing product competitiveness on the market while saving its quality and reliability. The article suggests the applied method of calculating the optimal rate of profitability of gross income taking into account the elasticity of demand on aerospace product market. The developed method allows to calculate the optimal rate of profitability, ensuring, on the one hand, the competitiveness of products by price, and on the other hand, the income of enterprises, which can be invested it its innovative development. It is shown that it is convenient to plan the maximum profit from sales of products in vertically integrated corporations during transfer pricing and then to distribute to suppliers which are integrated into the structure. With this approach, the state budget also receives the maximum tax revenues. The article presents a model for calculating optimal rates of profitability of gross income given wholesale components cost for the parent company in terms of elasticity of demand; an example of calculating the optimal rate of profitability of gross income; non-linear tax mechanism for controlling the growth of prices of suppliers, that are not involved in a vertically integrated corporation.

When looking for synergy effect companies in Russia and foreign countries resort to reorganization in the form of merger and acquisition To explain of merger and acquisition transactions the Russia legislation applies the institute of universal legal succession. IFRS and US GAAP applies the term of business unification which is understood as the transaction with the result the buyer gets the control. Comparing basic regulations of relative national standards in European countries, we stipulate the continuing convergence with IFRS: application of purchase method for business combination transactions; identification the purchaser as an entity; treating assets and liabilities by fair value; preparing of consolidated financial statements according to IFRS. However, in spite of joining to EU, member countries have preserved the right to choose national accounting principles for separate reporting and for reporting of companies, whose securities are not traded. For accounting of goodwill the amortization is; the buyer is the entity-buyer by the contract and the merger is treated by the day of government registration. Convergence of national accounting standards to IFRS brings to formation of gaps with tax standards and increase of additional expenses for accounting time differences. Many companies conducting reorganization attract consultants and auditors to accompany transactions on all stages and to secure the due diligence. When Russia will from the 1st of January 2018 transfer to international audit it will ensure the unique approach, raise of quality and increase of confidence of users to audited reporting, which is especially important in the period of reorganization of companies.