DOI: 10.33917/mic-6.107.2022.49-59

This article assesses the financial potential and corporate asset management policy of Severstal Corporation PJSC. A recommendation is given to change the current liabilities management policy from aggressive to moderate, which will lead to an increase in the financial stability of the enterprise, a decrease in the effect of financial leverage, as well as an increase in the weighted average cost of capital as a whole. The study conducted by the authors showed that Severstal Corporation PJSC has average estimates for almost all components of the financial potential of the corporation, therefore, it can be assigned an integral average level of financial potential.

References:

1. Eroputova O.A. Analysis and evaluation of cash flows from investment operations of PJSC Severstal. The Scientific Heritage. 2022;86-3(86):17-20.

2. Izzuka T.B., Tkachenko I.D. The impact of COVID-19 on the financial condition of metallurgical enterprises: problems and prospects. Economic sciences. 2021;195:67-77. (In Russ.).

3. Isaeva S.S. Assessment of the probability of bankruptcy by various methods on the example of PJSC Severstal (foreign practice). The world economy: security problems. 2017;3:25-29. (In Russ.).

4. Karkanitsa A.S., Strunnikova Ya.D., Rodionova D.V., Savinkina A.D., Kirdyanova D.I., Khayak A.A., Strunnikova A.D. Market model of shares of PJSC Severstal. Economics and entrepreneurship. 2020;1(114):767-769. (In Russ.).

5. Nikolaeva E.V., Pletnev D.A., Mirvakhedi S. The practice of assessing transaction costs: the case of PJSC Severstal. Bulletin of Chelyabinsk State University. 2020;6(440):204-211. (In Russ.).

6. Rykanin N.V. Overview of the metallurgical industry of Russia and the position of PJSC Severstal in it. Financial economics. 2021;4:194-197. (In Russ.).

7. Rykanin N.V. Prospective analysis of cash flows of PJSC Severstal. Natural sciences and humanities research. 2021;35 (3):278-284. (In Russ.).

8. Sapunova T.A., Koivistoinen A.A. Development of innovative financial strategy of PJSC Severstal. Economics and Business: theory and practice. 2022;6-2 (88):149-152. (In Russ.).

9. Cherednichenko A.S. Analysis of financial results of PJSC Severstal in terms of outsourcing of business processes. Modern Science. 2019;9-1:121-124.

10. Shuvarikov M.D. Principles of IFRS in the financial analysis of PJSC Severstal and PJSC NLMK. Economic security. 2021;4(3):839-852. (In Russ.).

DOI: 10.33917/mic-5.106.2022.50-61

This article discusses benchmarking as a continuous process of quality management and investment and innovation activities on the example of PJSC Severstal Corporation.

The definition of the concept of «benchmarking» is given, its purpose, tasks, stages of implementation are shown. A comparison of Russian and foreign approaches in benchmarking is presented.

The results of benchmarking are shown, which identified shortcomings and gave directions for improving the efficiency of PJSC Severstal. Companies need to bet more on R&D and get better results from it. In recent years, against the background of the pandemic and economic sanctions, PJSC Severstal faced a lack of funds for the modernization and reconstruction of production facilities, with a mismatch with the structure of supply and demand.

The authors propose to reduce costs, develop the metal products market and introduce innovative technologies.

References:

1. Al-Yavar A.A., Zharikov R.V., Bezpalov V.V. Improving the quality of products (services) of commercial organizations. Modern Economy Success. 2020;6:120-126. (In Russ).

2. Garipov A.S. The genesis of benchmarking in the time continuum. Bulletin of the Kazan State Financial and Economic Institute. 2007;4 (9):70-74. (In Russ.).

3. Devlet-Geldy G.K. Benchmarking as a tool for competitive development of modern enterprises. Problems of the economy. 2016;1 (71):42-46. (In Russ.).

4. Eroputova O.A. Analysis and evaluation of cash flows from investment operations of PJSC Severstal. The Scientific Heritage. 2022;86-3(86):17-20. (In Russ.).

5. Kozhemyako A.P. Benchmarking as a tool for analyzing target client groups. Quality management. 2020;4:314-322. (In Russ.).

6. May I. Knowledge management, production efficiency and benchmarking. Rationing and remuneration of labor in industry. 2010;7:52-55. (In Russ.).

7. Ostrovskaya V.N. Theory of SWOT analysis in competitive integration benchmarking. Economic sciences. 2008;47:64-67. (In Russ.).

8. Startseva M.V. The problem of using benchmarking in modern conditions. Economy and society. 2015;2-5(15):943-944. (In Russ.).

9. Silaeva A.V. Analysis of the financial results of the company’s activities on the example of PJSC Severstal for 2019-2021. A young scientist. 2022;23(418): 577-580. (In Russ.).

10. Tyupin N.A. Modern principles of benchmarking. Student. 2020:34-1(120):39-41. (In Russ.).

11. Chekeeva N.K. Benchmarking: conceptual apparatus. Bulletin of the Magistracy. 2017;12-3 (75):46-47. (In Russ.).

12. Shakirova N.N., Zhukovskaya S.L. Problems and possibilities of using financial benchmarking. Topical issues of the modern economy. 2022;4:609-616. (In Russ.).

13. Shuvarikov M.D. Principles of IFRS in the financial analysis of PJSC Severstal and PJSC NLMK. Economic security. 2021;4(3):839-852. (In Russ.).

14. Bezpalov V.V., Lochan S.A., Fedyunin D.V., Solopova N.A., Gorin D.S. Electric power industry development in the russian federation considering the structural trends of the world economy. Environment, Development and Sustainability. 2021.

DOI: 10.33917/mic-4.105.2022.24-33

This article evaluates the financial potential and corporate asset management policy of RUSAL URAL JSC in the context of economic sanctions. It is established that RUSAL URAL JSC combines an aggressive policy of managing current assets and an aggressive type of policy of managing current liabilities. Thus, a comprehensive operational management policy can also be characterized as aggressive. JSC RUSAL URAL has low ratings for almost all components of the financial potential of the corporation (FPC), therefore, it can be assigned a low level of FPC. Thus, the corporation is not financially stable. In order to improve the financial position of the corporation, increase its stability and solvency, it is possible to change the policy of managing current liabilities from aggressive to moderate, i.e. reduce the share of short-term loans in the total amount of liabilities.

References:

1. Bezpalov V.V. The mechanism of restructuring the management system of an industrial enterprise. Publishing house: Knorus. Moscow, 2013. 169 p. (In Russ.).

2. Ksenofontova H.Z., Filatov V.V., Mishakov V.Yu., Nechaev B.P., Osinskaya T.V., Panov S.A. Transformation of the knowledge structure of managers of an industrial company – a source of development of their new competencies: a regional aspect. News of higher educational institutions. Technology of the textile industry. 2020;4(388):157-164. (In Russ.).

3. Filatov V.V., Dorofeev A.Yu., Deeva V.A., Knyazev V.V., Kobulov B.A., Kobiashvili N.A., Mukhina T.N., Palastina I.P., Rudenko O.E., Osinskaya T.V. Theoretical foundations of designing management systems of industrial enterprises in conditions of economic instability. Moscow, 2008. (In Russ.).

4. Filatov V.V., Alekseev A.E., Shlenov Yu.V., Vorobyev D.I., Dorofeev A.Yu., Dolgova V.N., Zhenzhebir V.N., Pshava T.S., Fadeev A.S., Fedorov B.K., Shestov A.V. Machine-building complex of the Russian Federation: sectoral, regional and strategic aspects of development. Kursk, 2017. (In Russ.).

5. Bobryshev A.D., Tumin V.M., Savelyev A.V., Alenina E.E., Trifonov V.A. The place of infrastructure in the innovative ecosystem of industry. In the collection: Achievements in the field of economics, business and management research (AEBMR). 2022. pp. 37-43.

6. Gumerov A.V., Mukhomorova I.V., Sadykova R.R., Fatihova L.E., Chikisheva N.M., Simonova L.M., Alenina E.E. The program “Client’s voice” as a tool for business structure innovation. Journal of Sustainable Development. 2015;8(3):263-270.

7. Kadyrova O.V., Polyanskaya O.A., Dymova O.O., Bespalova V.V., Okomina E.A. Methods of evaluating the effectiveness of the organization of maintenance and repair at the enterprise. In the collection: Achievements in Economics, Business and Management Studies (AEBMR). Materials of the International Scientific and Practical Conference «Russia 2020 – a new reality: Economy and Society». 2021. pp. 173-176.

8. Tatarenko V.N., Polyanskaya O.A., Shaitarova O.E., Tereshchenko S.V., Melentyeva N.I. Synergetics of subject-object interactions in the context of the digital paradigm. In the collection: IOP Conference Series: Earth and Environmental Science. 2. Ser. «II All-Russian Scientific and Technical Conference «Digital technologies in forestry». 2021. p. 012032.

DOI: 10.33917/mic-3.104.2022.46-56

This article discusses modern problems of managing current assets and corporate communications of Russian low-cost airlines under economic sanctions. It has been established that Azur Air LLC combines an aggressive current asset management policy and an aggressive type of current liability management policy. Thus, a comprehensive policy for the operational management of assets and multifunctional corporate communications can also be characterized as aggressive. During the pandemic, Azur Air LLC demonstrated the high flexibility of its business model, which was achieved through a diverse air fleet, consisting of wide- and narrow-body Boeing aircraft of various modifications. This made it possible in the spring of 2022 to freely carry out a number of export transatlantic flights for Russian citizens who were abroad, for the first time to start operating flights on domestic routes, and to intensify cargo transportation.

DOI: 10.33917/mic-1.102.2022.83-90

The article discusses the possibilities of using a scenario approach in forecasting and budgeting in the practice of corporate governance of PJSC Aeroflot. According to the methodology of the National Corporate Governance Rating in 2018, Aeroflot PJSC has a rating of 7++, which indicates compliance with Russian legislation, taking into account the interests of all interested parties (shareholders, the state, employees, consumers of services). Currently, it is established that in 2020-2021. This aspect of corporate governance in PJSC Aeroflot is not fully implemented and needs to be improved. It can be assumed that precisely because of this, the risk management system of PJSC Aeroflot could not cope with the development of anti-crisis measures in a timely manner. The authors recommend considering pessimistic and optimistic scenarios in detail when drawing up budgets, planning a budget system for each of them, developing measures to reduce risks, and responding quickly to emerging threats. It has been established that the use of a scenario approach in budgeting and corporate governance practices will allow PJSC Aeroflot to consider all possible situations, including unlikely ones, to inform representatives of the Board of Directors about all possible risks in a timely manner, and to develop measures to minimize risk.

References:

1. Alenina E.E., Zyulina V.V., Redin D.V. Priority directions of formation of organizational structures of innovative development of high-tech industries. In the collection: Innovations in business creation and management. Materials of the VIII International Scientific Conference of teachers, staff and Graduate students. 2016. pp. 3-8. (In Russ.).

2. Alenina E.E., Zyulina V.V. Sectoral problems of management of the development of modern Russian engineering. In the collection: Materials of the Scientific and practical conference with international participation «Management in the field of science, education and technological development». 2016. pp. 134-140. (In Russ.).

3. Golovanova N.B., Gorin D.S. Methodological approach to assessing the technological state of a machine-building enterprise to increase the validity of management decisions //Management of economic systems: an electronic scientific journal. 2012;4 (40):70. (In Russ.).

4. Golovanova N.B., Gorina T.V. Comparative characteristics of the main approaches to enterprise resource management //Management of economic systems: an electronic scientific journal. 2014;12 (72):83. (In Russ.).

5. Gorin D.S. The growth of the technological gap as a trend in the development of the machine-building industry //Economics and entrepreneurship. 2014;11-4 (52): 503-505. (In Russ.).

6. Gorin D.S. Assessment of the industry significance of machine-building enterprises based on the analysis of fixed assets //Economics and entrepreneurship. 2013;12-4(41):319-322. (In Russ.).

7. Gorin D.S. Organizational and methodological aspects of crisis management at machine-building enterprises //Economics and entrepreneurship. 2012;1(24):282-285. (In Russ.).

DOI: 10.33917/mic-6.101.2021.40-50

This article discusses the issues of mergers and acquisitions (corporate control market) of the Rosatom State Corporation. It has been established that the Rosatom State Corporation is a multidisciplinary holding company combining assets in the energy, mechanical engineering, and construction. After analyzing the profitability indicators, the authors note a drop in all profitability positions: sales by net profit (ROS), assets by net profit (ROA) and equity by net profit (ROE) for 2019. The revealed trend means that the efficiency of the company’s use of assets has dropped significantly, which indicates the ineffective use of financial resources and the distraction of managers from the main strategy of the state corporation (increasing resources). Recommendations for improving the corporate governance of the state corporation «Rosatom» are proposed, aimed at orienting management personnel to the main strategy of the corporation, delineating the official powers of managers and increasing the transparency of corporate reporting.

DOI: 10.33917/mic-3.98.2021.15-21

This article presents a managerial analysis of socio-cultural activities using the L. Euler diagram. When separating the concepts of «culture» and «quality», «quality» and «values», «values» and «culture», such concepts as «quality culture», «cultural values» and «quality of culture» are formed. This confirms the relevance of the use of L. Euler diagrams, which were used to analyze the components in the field of culture. This tool helped the authors to illustrate the relationships between different concepts and to formulate new definitions that come from the analyzed concepts.