Development strategy
This article calls attention to an analysis of the Eurozone's economic crisis prerequisites and the ways out from it. In fact, Eurozone is an extremely heterogeneous formation, where despite the single currency; every country has different credit characteristics. The economic situation in the PIGS-countries (Portugal, Italy, Greece and Spain) is considered in the article, laying an emphasis on Greece as the main representative of high risk default.
To our opinion, the main factor of the crisis is the lack of new innovative industries that require tremendous investments (some trillion dollars). The excess supply of money is not invested in the real sector, but is accumulated in the financial markets, increasing the nominal value of any assets. Financial discipline is the second mail factor in developing of the crisis.
The latest tendencies in the development of the global and Russian metals sectors are identified under the new economic conditions of Russian membership in WTO. The positive and negative impact of Russia’s accession into the WTO on the Russian metals sector are analyzed. The importance of forming and utilizing the new competitive advantages for the Russian metals sector is discussed given the fact that the cost of production of the Russian metals products is increasing and the traditional competitive advantages of this sector are diminished. A new competitive advantage is suggested (enterprise reputation and goodwill) for effective management which would lead to sustaining the long term competitiveness of the Russian metals products.
The paper presents an econometric analysis of the influence of components of economic freedom оn the development of machine building abroad. The high dependence of the industry of the freedom of trade and freedom from corruption in a number of foreign countries is proved.
In the article the author designed the circuit diagram of titanium in the Industry, and the prospects for the use of different types of waste in the production of titanium products. It is noted that the assessment metallofonda titanium, note the following:
– in the circuit must be considered export titanium titanium products, which determines the use of imported recycled materials;
– perspective direction produce recycled titanium in the near future should be to engage in the processing of obsolete scrap, especially in the aircraft industry.
The methodical approach to assess the return period of titanium materials. Found that the creation of titanium cluster can dramatically change the situation in the use of recycled titanium, since it is possible to create a uniform system of accounting, collection and processing of information on the production, circulation, consumption and accumulation of titanium based on the evolving relationship in the titanium cluster of producers and consumers of titanium products (both domestic and foreign).
Corporate management
Current business conditions are characterized by rapid changes in the global business environment. Businesses are exposed to crises with hardly predictable development, the changing conditions in financial markets, fluctuations in economic growth and demand. Strong competition and pressure on product prices force companies to increase efficiency, innovate products, manufacturing processes and equipment, transfer production capacities. This is reflected in the management of industrial enterprises and their investment and technical development projects, including metallurgical production.
The paper deals with the method of planning and management of investment and technical development projects in industrial enterprises under increased risk and uncertainty. In such conditions it is appropriate to use methods of project management with an integrated risk management. In the project planning phase especially uncertainty in metallurgical products market, prices of raw materials, availability and cost of corporate financing and exchange rate fluctuations should be included in decision making. It is necessary to evaluate the economic stability of customers and suppliers and potential threats from competitors. The project execution speed as well as meeting its goals is an important success factor. It is often necessary to analyze several key scenarios of possible development of business environment and our planned project. Besides the negative risk, i.e. threats, it is also useful to search for positive side of uncertainty and risk, i.e. opportunities. The project execution plan should be divided into phases and stages with checkpoints. Identified risks should be continuously monitored and controlled. Principles and practices described in the paper significantly contribute to increasing project success and efficiency.
Financial management
Regional economy
Social problems in the economy
The economy of the CIS countries
ISSN 2413-662X (Online)