ECONOMICS
Development plays a significant role in working out national projects in the field of house-building aimed at providing high-quality and affordable housing for the population of Russia. The key indicator for the development project is its cost, which affects both affordability for the population and finance and economic figures of the developer. Therefore, the system of cost management in the development company shall be formalized on the basis of design parameters, characterizing the project cost at all stages of the life cycle. The article proposes to use four interconnected indicators, the precise estimation of the project cost is assumed to be the principle one in the research. The authors worked out the model of development project cost management with due regard to stages of its life cycle, showed key events and relevant control points to assess precision, investigated and described methods of cost estimation at certain stages of the project life cycle (PLC). On the basis of real development projects they analyzed precision of cost estimation by stages of life cycle and plotted the graph ‘precision funnel’. The general positive dynamics in precise cost estimation was discovered, however the range of indicator incoherence would not allow us to adopt universal recommendations on its appraisal. The analysis showed the necessity to improve precision of cost estimation at early stages of project life cycles, which impacts the efficiency of the development project.
The article provides basic notions of derivative market, shows what these finance tools are, how they work and how capital can be increased with their help. By citing examples from historical development and simple conventional examples the mechanism of derivatives’ functioning was explained and their links with underlying assets were studied, for instance it was shown how the value of exchange tool can enter the negative zone. Exchange and OTC markets were analyzed, their value was investigated on the basis of historical statistics of international finance institutions and mechanisms of their interaction with regulators on the territory of the Russian Federation and abroad were researched. Strategies of using these finance tools for speculation, hedging and arbitration were demonstrated, their advantages and disadvantages were identified. As a result the authors put forward strategy of entering overestimated market with the help of options.
The article examines the most important categories, mechanisms, and instruments of the monetary policy of the Bank of Russia from the point of view of both its development and its implementation. The essence, origins and driving forces of the main contradiction of Russia's monetary policy are revealed. It is shown that monetary policy, along with the economic policy of the state, should act as a regulator of important meanings of human existence, such as the growth of real incomes of the population, directly affecting the redistribution of money – this market form of universal requirement for part of the national wealth. The author's position is presented, according to which inflation is not so much a macroeconomic indicator, as it is often customary to treat this phenomenon, as a fundamental process of a market economy that determines the redistribution of national wealth between economic entities through money. The authors identified and described the main problems and local contradictions in the development and implementation of a unified state monetary policy, presented a detailed description of these phenomena. The methodology of dialectical-systemic and logical analysis, which was used by the authors as a research tool, allowed for the first time to formulate the main contradiction of the unified state monetary policy. The presented formulation reflects the essential principles of the poles of contradiction – the contradiction between form and content. In order to solve the problems identified and existing for a long time, the authors justify the need to take priority organizational and legal measures, first of all, changing the statute, reforming functions, strengthening operational capabilities and staffing of the National Financial Council.
In the practice of state governance economic development is usually estimated by comparing macro-economic indicators for the period being evaluated with relevant preceding periods. The article studies a non-conventional – structural approach to estimating the development of sectoral structure of Russian economy. The period of 10 years, i. e. from 2011 to 2020 was analyzed, at the same time the possibility of accelerated development in the medium-term (2023) and long-term (2036) periods was investigated. The authors provide theoretical foundations of the research, indicators of structural development, the procedure and algorithms of their estimation. The criterion and quality model of passing-over from the actual condition to the optimal combination of sector scales were identified. By comparing the actual and model (estimated) indicators of sector scales the trend and nature of structural development of national economy were evaluated, as well as its capacity to develop rapidly in future periods. The findings show that harmonization of indicators of diversity and uniformity, changeability and stability in sectoral structure forms a structural precondition for the development of national economy. These indicators can be used by bodies of state governance in the process of devising strategy of accelerated development of economy in general and its industries.
The article studies successive implementation of the concept of sustainable development on the international and Russian market starting with the official formulating the concept in the report ‘Our Common Future’, which was presented by the UN in 1987 and till the latest trends of national economy of the Russian Federation. The author provides the gist of key aspects and notions of ESG-approach to management, analyzes their rise and assesses the degree of their academic elaboration and practical use in Russia. On the basis of the current trend analysis a conclusion was drawn about the importance of introducing the concept of management from ESG-standpoint on all levels of economy. Scientific generalization of practical experience allowed the author to come to the conclusion that international trends of sustainable development will determine the general line in ESG-approach to management of social and economic development in Russia on all levels – from federal to corporate one. The article identifies key regulator trends in carbon regulation, the development of tools of green and responsible financing, commitments on ESG-information revealing and risk management. The latest initiatives of big state, public and finance companies in issuance of green bonds were described, as well as acute trends in the state regulator work in ESG- sphere.
REGIONAL ECONOMY
The interrelation of labour productivity and economic situation in regions of the Russian Federation is really acute in current conditions, when such destructive factors as sanctions, inflation, instability on global markets due to coronavirus epidemic take place. Therefore, the key goal of the research is to estimate labour productivity in regions as a factor of economy efficiency. Among methods of research it is possible to mention comparative analysis of the indicator, typology of regions by a number of parameters in order to identify regional differentiation. It is assumed that the highest labour productivity is typical of raw-materials regions, which specialize on extraction and export of mineral resources. However, we should take into account that natural and climatic factors in this group of regions increase labour costs and therefore, cut labour productivity. The authors show that in regions with conventional specialization on manufacturing industry (when the raw-materials sector retains a certain importance) the said indicator demonstrates a high value, even in spite of some unfavorable trends on labour market. The authors used the following materials and research findings for preparing the article: results of deep interviews of employment service workers in the Ryazan region conducted in 2021 within the frames of the research ‘Digitalization of Labour Market and Employment in Russia: Trends and Mechanisms of Development’; materials of expert discussions and surveys of employment service heads in regions of the Central Federal District within the frames of the research ‘Organizational and Finance Mechanisms to Support Population Employment in 2021-2023, which Aims at Unemployment Reduction’
Industrial and production parks in entities of the Russian Federation, on the one hand, act in research and managerial practices as the institution of sustainable development of the territory and as a mechanism of regional state industrial policy. On the other hand, they function as a project, which devises the institute of state and supports it on different stages of establishment and operation. In Russian regions industrial and production parks are integrated into the process of pursuing regional industrial policy by affecting through available samples and practices the federal policy in the industrial complex. Two-level state policy (federal and regional) itself obtains systematic and complex character, which fosters an increase in GDP, creation of highly-paid jobs and attaining competitiveness of manufactured goods of Russia on foreign markets. The article shows that the institute of industrial and production parks possesses both qualitative and quantitative estimation. In early July 2021 there were 179 industrial and production parks in regions of the Russian Federation and 99 parks were being established. In the process of institualization and development they became a key mechanism of productive changes in the industrial complex. Apart from that they were shaped as a mass phenomenon in pursuing state industrial policy. The authors proved that parks in view of regional state industrial policy can resolve three tasks: 1. Overcome negative consequence of de-industrialization; 2. Provide re-industrialization of the territory; 3. Pursue policy of new industrialization.
ECONOMICS OF LABOUR
The article systematized key lines in upgrading social infrastructure of enterprise HR policy, descried factors, which affect greatly the efficiency of HR policy. The author formulated principle trends in social infrastructure organization as a factor of HR policy competitiveness, assessed and analyzed findings of the research studying the mechanism of interaction between social and HR policy on the basis of factors of competition, satisfaction and efficiency of enterprise workers. The dependence on current trends, economic situation, prevailing public values and other factors was investigated. Customers tend to buy goods of appropriate quality at low price and become more demanding for extra services, such as delivery speed, quality of accompanying service, etc. These factors make companies change, following the changing preferences of their target audience. The article put forward steps aimed at building effective HR policy in the current situation of Russian economy, among which it is necessary to point out to differentiated use of compensation packages for enterprise workers.
ECONOMICS OF ENTREPRENEURSHIP
The article assessed interaction of state and chemical industry corporations by criteria of budget making, tax burden and managerial impact. The appraisal was made on the basis of methodological tools worked out by the author. Within the period from 2012 to 2020 earnings of corporations of chemical industry producing mineral fertilizers grew and exceeded tax revenues of regions of their location, which caused an increase in companies’ taxation potential. However, analysis of tax payments to the budget system by profit tax, property tax, income tax and VAT did not confirm the growth in this potential. A rise in dividends, payments for losses were typical for enterprises, as well as increasing amount of dividends surpassing net profit. The goal of the article is to identify the level of finance interaction efficiency between state and enterprises of chemical industry. The following enterprises of chemical industry producing mineral fertilizers acted as the object of the research: the public company ‘Apatit’ (Vologda region), the public company ‘Akron’ (Novgorod region) and the public company ‘Dorogobuzh’ (Smolensk region). This choice was stipulated by location of these enterprises in regions with weakly-diversified economic structure and serious dependence on the budget-forming enterprise. The information base of the research was formed by works by Russian and overseas authors dealing with chemical industry development, finance accounting of the companies, data of the Federal Taxation Service and the Treasury of Russia.
THEORY AND PRACTICE OF MANAGEMENT
The article studies modernization of digital platform potential in order to coordinate interaction of practice, science and education in the field of management. The key focus is made on the fact that as a result of digital organization development the role of virtual space becomes prevailing in managers’ work and nearly all traditional methods of management undergo drastic changes. Unique processes of managing digital organizations require revision of methodological approaches to the problem of sustainable development in conditions of digital transformation, which mainly has a turbulent character. It is underlined that the major problem of today’s management is the vague definition of different notions, whose understanding is crucial for managers, who otherwise cannot link digital strategy with their work. The article used materials and findings of fundamental and applied research done by authors within the frames of budget, business and initiative development of innovation, industrial and educational products. Testing of these solutions proved their need in the field of practical management, scientific research and managerial education.
The goal of the research is to elaborate methodology how to systematize findings in the field of management published during previous years. Special attention is paid to typology of reviews. In this case the author distinguished systematic (meta-analysis as its variant), semi-systematic, integrative and other types of reviews. The article traces the origin of literature reviews starting from medical science to their use in articles concerning management in business. The author described difficulties of conducting meta-analysis and systematic analysis on materials of research on management and showed several methods of presenting results of systematic review of literature. Review articles can both rely on proofs obtained in previous quality (or mixed) methods of research and include quantitative data. Orientation to author is also possible. The most widely used type is a subject review, where researcher describes publications fostering the development of general comprehension of the concept or phenomenon being of interest, including for the future research. The choice of the review type and methodology of its conducting is determined by the data that should be analyzed. Authors should follow the chosen methodology.
The task of organizing corporate governance of groups of business systems that carry out industrial activities in the Industry 4.0 paradigm and are focused on a single market segment is considered. The subjects of governance are defined as residents of corporate business relations (stakeholders) who provide management or action the business as an investor, owner, lender, etc. The objects of governance are defined as business systems and their groups (business complexes, State corporations) formed as a result of institutional and infrastructural transformations in the primary and aggregated parts of industry. The innovative component (subject), corresponding to the globalization of economic and digitalization of business processes, introduced an information system into the management channel that performs modeling and evaluating the effectiveness of corporate business relations in a virtual environment using digital twins of governance objects. Digital twins are the information components of a virtual corporation deployed on a platform of a decentralized ecosystem. The criterion for the quality of governance is the effectiveness of the corporation, formed in a balanced space of parameters relevant to financial and production indicators. The technology is described and the scheme of the corporate governance system is presented, which complementarily combines the action of business management systems and artificial intelligence (scheduler) of the virtual environment on the groups. It is proposed to extend the mechanisms of corporate governance to the business relations of the parties regulated in the digital institutional environment by electronic procedures.
The article summarizes today’s theoretical aspects of the notion ‘working assets’ and their management with focus on the most widely used in Russia ideas about this group of enterprise and organization assets. At the same time the author provides findings of academic research by classics of economic theory and finance management (F. Kene, A. Smith, D. Ricardo, K. Marx) and present day scientists and experts. While studying academic works by today’s scientists the most frequently used in Russia definitions of the notion ‘working assets’ were identified. The author gave explanations, which allow us to see the differences between non-current and working assets of business entities. Apart from that, the effective legal aspects of managing working assets by corporations were studied with focus on describing the procedure of their fixing in forms of periodical accounting and showing material costs. The article provides different types of working asset management, depicts groups of methods for working asset management and gives a list of the most widely used tools for effective management of working assets in the system of finance management of Russian corporations.
MARKETING, LOGISTICS, SERVICE SECTOR
Big participants of IT market, whose profits can depend seriously on dynamics of tourist flows use today’s analytical systems in order to get information concerning tourist service providing. Such information can be used for efficient distribution of resources. In March 2021 spokespeople of such companies as ‘RZhD’, ‘Yandex’, ‘Megafon’, ‘MTS’, ‘Roscosmos’ and others delivered reports on possibility to use indirect data to analyze tourist flows at the round table discussion ‘Managing Tourist Industry on the Basis of Data’, that was arranged by the Analytical Center under the Government of the Russian Federation. Opportunities to use big data and advanced methods of data analysis were demonstrated. However, such systems are not meant to solve problems of social character. Moreover, a player cannot affect the steps and preferences of the considerable circle of people, which means that there is no need to test the community response on possible planned events that can increase usefulness of the entity. In view of state entities the latter is rather important, especially in case usefulness is considered in the social-economic aspect. As a conclusion the authors underline significance of tourist market modeling in Russia by using digital technologies.
MARKETING, LOGISTICS, SERVICE SECTOR
Today in conditions of severe competition of commercial enterprises it is necessary to upgrade their work by using different methods, one of them is the development and introduction of innovation projects. However, when an innovation project is worked out each developer faces certain risks requiring high-quality and effective management. Risk management in innovation projects is a complicated process, which is connected with the high level of uncertainty typical of innovation projects. Therefore, to manager risks of innovation projects highlyqualified personnel with sufficient knowledge and information is essential. The author studied the notion ‘innovation project’, investigated the causes of innovation risk rising and provided their classification. Apart from that, innovation projects of the retail chain ‘Magnit’ were analyzed, key problems of managing risks of innovation projects were identified and recommendations on resolving such problems were put forward.
ECONOMIC SECURITY
Trends of developing relations in today’s society, spread of digital technologies and restrictions in movement during the last year showed a rising diffusion of society, split of opinions and weakening of the cultural code of the Russian population. The article studies sources of these changes and searches for solutions based on means of social and cultural activity. It is well known that cultural code is formed for decades and it is the social and cultural sphere that can concentrate this process and direct it to strengthening of national self-identification, rise in the rate of patriotism, education and wellbeing of the population. The process of shaping the civil society in the post-soviet period is based on pursuing cultural policy financed at the expense of the country budget, in contrast to western countries. This aspect makes us think about the necessity to change means and methods of social and cultural activity with due regard to processes of society digitalization. At the same time cultural policy acts as a significant section of the system of national security, as a way of shaping civil society, keeping cultural values and traditions. The research showed that non-linear interaction of such tensors, as sustainable development, corporate social responsibility, national security, digitalization, technologization of society can seriously affect the processes of diffusion of society integrity, destruction of its cultural code and sovereignty of state as it is. Preserving the cultural code as a foundation of national culture and overcoming problems of society diffusion are possible in case the state participation in reforming approaches to pursuing cultural policy is extended. A separate aspect is developing the HR potential of cultural institutions of the future oriented to advanced technologies, continuous learning the achievements of psychology as a science, which can create patriotic feelings in society promoting values of cultural inheritance as a foundation of national identification.
The article shows elements and key principles of the concept of sustainable development and points out to steps made by Russian and the EU targeted at introducing the concept within the frames of state functioning. The authors provide information about the latest changes in state policy in the field of ecologic development of Russia and characterize the course in the sphere of sustainable ecologic development. In the system of sustainable development indicators the authors identify such power figures as consumption of power resources and emission of used gases, for instance CO2 to the atmosphere. Statistics concerning the amount of power resource consumption and air pollution by CO2 emissions in developed countries was included in the article. Principle normative documents used to regulate power optimization and power efficiency in Russia, EAEC and the EU were analyzed. The EU experience dealing with digital information support of customers aimed at improving power efficiency was studied and data of electric power saving and cutting CO2 emission stipulated by EU directives was also considered. Examples of steps meant to motivate power efficient habits of the population in the Russian Federation were given
The article studies elements of technological sphere, such as science, technology and innovation. Appraisal of economic security of Russia was conducted by using methodology of utmost crucial indicators. The most important indicators and their crucial values based on the principle ‘resources – results’ were selected, which gave an opportunity to estimate the efficiency of resource investment and their use. The author substantiated the threshold values for each indicator The method of utmost crucial values together with zoning by the degree of risk can allow us to identify the possibility of threat arising and understand their degree for spheres being investigated. During the analysis the standing of values in accordance with zone distribution was estimated and general trends were found out. On the basis of estimation the general dynamics of indicators was plotted in the form of indexes of economic security and on their foundation the integral appraisal of the condition of economic security in technological field was built. In conclusion the author stated the overall level of technological sphere and described threats to economic security of Russia.
ISSN 2587-9251 (Online)