The "Economic Strategies" journal

2024 #4. 2024




Minimization of financial risks and losses at the enterprise: from theory to practice

DOI: 10.33917/mic-4.117.2024.65-71

Presents an analysis of methods for reducing financial losses in a company; types of risks are systematized; an algorithm for monitoring and minimizing financial risks is presented using the Altman model and the Taffler model as an example.

References:

1. Galimulina F.F., Zhukovskaya I.V., Komissarova I.P., Shinkevich A.I., Mayorova A.N., Astafyeva I.A., Klimova N.V., Nabiullina K.R. Technology Platforms as an Efficient Tool to Modernize Russia’s Economy. International Journal of Economics and Financial Issues. 2016;6(1):163–168.

2. Zhukovskaya I.V. Specifics of Investment Project Risk Management in Industry. Economics and Management. 2010;2:53–56.

3. Financial Risk Management: Textbook and Workshop for Universities / I.P. Khominich [et al.]; edited by I.P. Khominich. 3rd ed., revised and enlarged. Moscow: Yurait Publishing House, 2024. 582 p.

4. Data from the electronic database system «Kontur-Fokus» and «SBIS».

An ontological approach to assessing a company’s business reputation

DOI: 10.33917/mic-4.117.2024.72-82

Asset management of a company as a set of its property rights is an important process of economic life. Asset analysis and valuation is important for making management decisions. The valuation of the company’s assets is complicated by the fact that the assets are considered as part of a functioning complex or as an independent type. Since a fair assessment increases the reliability of the conclusions and the significance of the appraiser firm, the formalization of its conclusions should be based on ontology terms used for internal coding of user knowledge.

The evaluation of intellectual property objects is conditioned by the requirements of the market in the relations of economic entities. Since a fair assessment increases the reliability of conclusions based on ontology terms used for internal coding of user knowledge, the article focuses on the results of intellectual activity, which differs in legal content and a number of features of reflecting intangible assets in accounting. Based on the practice of creating ontologies, it is impossible to assert that there is a single universal approach that would contribute to an absolutely successful result, but for appraisers this method seems to be the most optimal.

References:

1. Gorshkov S. An introduction to ontological modeling. LLC TriniData, 2016.

2. Resolution of the Plenum of the Supreme Court of the Russian Federation dated 02/24/2005 No. 3 «On judicial practice in cases of protection of honor and dignity of citizens, as well as business reputation of citizens and legal entities». WG. No. 50, 03/15/2005; Bulletin of the Supreme Court of the Russian Federation, 2005. No. 4.

3. Opalsky A.P., Amelina N.A. Formation of the image of a computer game developer company and protection of reputational risks. Microeconomics. 2023;2:48–56.

4. Gafurova L.S. Business reputation as a factor of sustainable development of the enterprise. The international scientific journal «Symbol of Science». 2021;4:59–60.

5. Tirole J. A Theory of Collective Reputations (with Applications to the Persistence of Corruption and to Firm Quality. The Review of Economic Studies. 1986;63(1):1–22.

6. The Law of Ukraine «On Banks and Banking activities» dated 07.12.2000 No. 2121-III (with amendments and additions). URL: https://juristoff.com/bankovskoe-delo-kreditovanie/190-o-bankakh-i-bankovskoj-deyatelnosti ?ysclid=lvatbs5mcq230196725

7. Resolution of the Plenum of the Supreme Court of the Republic of Belarus «On the practice of consideration by courts of civil cases on the protection of honor, dignity and business reputation» dated December 23, 1999 No. 15. URL: https://court.gov.by/ru/jurisprudence/post_plen/civil/moral/ae30ed7f3a7d445c.html

8. Erdelevsky A.M. Compensation for moral damage: analysis and commentary of legislation and judicial practice. 3rd ed. M., 2004.

9. Order of the Ministry of Finance of the Russian Federation dated May 30, 2022 No. 86n «On approval of the Federal Accounting Standard FSB 14/2022 “Intangible Assets”». URL: https://www.consultant.ru/document/cons_doc_LAW_420322 /?ysclid=lvaxdlm8ct674140159

Peculiarities of financial control in Civil air fleet units during the Great Patriotic War

DOI: 10.33917/mic-4.117.2024.83-90

The publication provides a list of features of financial control over the expenditure of funds from the salary fund in the divisions of the Civil Air Fleet, which include: ensuring the rational and timely expenditure of funds sent to the families of the dead or missing employees; prevention of non-compliance with the deadlines for operational accounting and reporting; the need to improve the process of operational accounting; personal responsibility of commissioners of special units for the preparation and passage of documentation; accurate accounting of all personnel: strict staffing; rational spending of funds for training personnel, maintenance of full-time personnel of educational institutions and stimulation of the activities of linear instructors-pilots; development of measures to stimulate the work of freelance pilot instructors; a full description of the purpose of expenses and sources of their financing during the selection and training of pilots. There are also savings in the process of training pilots in educational institutions and training squadrons during the Great Patriotic War of 1941–1945. Thus, cost savings were achieved due to a smaller number of full-time personnel, compaction of the working day, incomplete payment of annual bonuses and compensations for unused vacation, reduced duration of cadets in squadrons and early completion of training of some cadets, economical spending on the material part. The basis for improving financial control is timely or operational accounting, therefore, measures for its implementation were also considered.

References:

1. Lipin A.V. Navigational civil aviation service from takeoff to landing. Publishing House St. Petersburg State University of Civil Aviation named after Chief Marshal of Aviation A.A. Novikova, 2016. 153 p.

2.NPP GA USSR and NSD GA USSR//History and Information Portal of the International Public Movement «Air Navigation without Borders». URL: https://ovdrf.ru/page/744

3. Stalin I.V. Writings. T. 18. Tver: Soyuz Information and Publishing Center, 2006.

The energy strategy of the Russian Federation in the system of national economy and security: goals, promising directions and development scenarios

DOI: 10.33917/mic-4.117.2024.91-102

This article provides an analytical review of the energy strategy of the Russian Federation in the system of national economy and security. Its goals, promising directions and development scenarios in the context of economic sanctions are considered. It has been established that Russia’s transition to alternative fuels will take place no earlier than in ten years. In the coming decade, the domestic energy sector will not rush to take measures to combat global warming, but will begin to think about a gradual shift in the balance from coal and oil to solar, hydrogen and other stations that are safe for nature. Currently, not only Russia, but also other countries are not yet ready to completely abandon fuels with a high carbon footprint in the atmosphere. Oil and gas account for about 54% of the global energy sector.

In the long term, the energy balance will remain for 10–20 years with different forecasts for the development of renewable energy sources. At the same time, the energy transition has begun, and this can be seen by the increased investments in this promising sector. Investments in alternative energy, including solar, wind, and hydrogen, are growing sharply. In particular, it is planned to involve the achievements of previous years in the field of nuclear energy. Russia has begun to prepare for the transition to clean fuel, not only officials, but also representatives of science and industry are working on the process.

References:

1. Lipin A.V. Navigational civil aviation service from takeoff to landing. Publishing House St. Petersburg State University of Civil Aviation named after Chief Marshal of Aviation A.A. Novikova, 2016. 153 p.

2.NPP GA USSR and NSD GA USSR//History and Information Portal of the International Public Movement «Air Navigation without Borders». URL: https://ovdrf.ru/page/744

3. Stalin I.V. Writings. T. 18. Tver: Soyuz Information and Publishing Center, 2006.

The use of an organizational and economic mechanism for the rational use of hydrocarbons

DOI: 10.33917/mic-4.117.2024.103-107

The article considers aspects of the use of an organizational and economic mechanism for the rational use of hydrocarbons. The author presents trends in the development of subsurface use of hydrocarbons, as well as factors constraining the development of geological exploration and rational subsurface use of hydrocarbons. A scheme of the organizational and economic mechanism of rational subsurface use of hydrocarbons has been developed and a system of interaction by blocks has been described. Conclusions are drawn regarding the application of the organizational and economic mechanism in the fuel and economic complex of the country.

References:

1. Law of the Russian Federation of 21.02.1992 No. 2395-1 «On Subsoil».

2. Davydov A.V. Issues of rational subsoil use in modern conditions. Georesources. 2023;25(3):82–88.

3. Kuzina E.S. Organizational and economic mechanism in subsoil use // Proceedings of the II International scientific and practical conference «Modern world scientific achievements in the context of global challenges», February 28, 2024, Kazan. Publ. «Science and World», 2024. 413 p.

4. Melehin E.S., Kuzina E.S. Methodological approach to assessing lost profits and damage caused to subsoil as a result of their irrational use. Microeconomics. 2020;1(90):74–79.

5. Melekhin E.S. On the Problems of Rational Subsoil Use. Mineral Resources of Russia. Economics and Management. 2023;4(183):49–52.

Experience of military-civilian merger in the USA and China: new organizational and strategic engineering is needed in the Russian defence and civilian industries

DOI: 10.33917/mic-4.117.2024.5-17

In the United States and China, in conditions of preparing for a major war, there is an intensive restructuring of not only the armed forces, but also the industry that provides military needs. The key trend is the development and implementation of civil-military merger strategies. The Russian experience in conducting Special Military Operation, including an analysis of NATO’s problems with providing equipment and weapons to Russia’s real and potential military opponents and countering these processes by the Russian defence industry, has actualized the problem of developing a new approach to organizational and strategic engineering in the Russian defence and civil industries and scientific-technical sector.

References:

1. Ageev A.I., Loginov E.L. Russia in the new economic reality. Moscow, INES, 2016. 460 p.

2. Ageev A.I. Dynamics and structure of global risks. Civil defense strategy: problems and research. 2013;3(2(5)):7–8.

3. Ageev A.I., Bakhtizin A.R., Makarov V.L., Loginov E.L., Khabriev B.R. Economic Foundation of Victory: a Strategic Forecast for the Russian Economy Stability in the Face of Sanctions. Economic strategies. 2023;25(3(189)):6–15. DOI: https://doi.org/10.33917/es-3.189.2023.6-15

4. Ivanov S. US military innovation. Infrastructure and projects. Mirtesen, 2021, September 15. URL:  https://s30116489994.mirtesen.ru/blog/43322544035/Voennyie-innovatsii-SSHA-Infrastruktura-i-proektyi

5. Kokoshin A.A. Military reform in China in 2015–2020: defense and foreign policy aspects. Moscow, ISPI RAN, 2016. pp. 39.

6. Ageev A.I., Kapustyan S.G., Korobkin V.V. State and forecast expectations for the development of the global robotics market. Artificial Intelligence. Theory and Practice. 2023;3(3):50–58.

7. Grabchak E.P., Loginov E.L., Chinaliev V.U., Epishkin I.I. Management of the development of complex scientific and technical complexes based on intelligent digital platforms (implementation of the competencies of the USSR State Committee for Science and Technology in the digital economy). Moscow, Institute of Economic Strategies, 2023. 504 p.

8. Ageev A.I., Loginov E.L., Efremov D.N. The State committee for Scientific-Technical Policy: center of network concentration of Scientific-Technical Ties in Key Knowledge Areas for Integrated management in the Science and engineering field. Economic strategies. 2014;16(8(124)):12–21.

9. Grabchak E.P., Loginov E.L. Management of research, power engineering and electric power companies as elements of an integrated industrial technological complex: Instrument making in the 21st century – 2020. Integration of science, education and production: Sat. materials of the XVI All-Russian Scientific and Technical Conference. Izhevsk: Izhevsk State Technical University named after M.T. Kalashnikov, 2020. pp. 16–21.

10. Grabchak E.P., Loginov E.L. Formation of an integrated information environment for digital support of life cycle management processes of scientific and technical research and development in the Russian electric power industry: Modern information technologies. Theory and practice: Materials of the V All-Russian Scientific and Practical Conference. Cherepovets: Cherepovets State University, 2020. pp. 32–35.

Development institutions, their effectiveness and prospects

DOI: 10.33917/mic-4.117.2024.18-26

The author defines a development institution in relation to domestic realities, and also provides a brief overview of the world experience in the functioning of development institutions. The author points out that until recently, Russian development institutions demonstrated a low degree of efficiency, which necessitated reforms in the area under consideration. However, the reforms did not fully solve the assigned tasks, since the foreign policy situation changed dramatically. It is concluded that the basis for low efficiency is insufficient attention to the relationship between the concepts of «institute» and «institution». The author offers a list of activities that are key to improving the situation in the field of development institutions.

References:

1. Kostin K.B., Khomchenko E.A., Burmistrov A.N., Melikova E.F. Foreign direct investment and transnational corporations as potential factors of economic growth of states. Economic relations. 2021;11(4):633–664.

2. GE Global Innovation Barometer 2018. URL: https://www.ge.com/sites/default/files/GE_Global_Innovation_Barometer_2018-Summary_Report.pdf

3. Mapping 500+ Development Banks Qualification criteria, stylized facts and development trends. URL: https://financeincommon.org/sites/default/files/2021-10/mapping-development-banks.pdf

4. SWFI Total Asset Ratings. URL: https://www.swfinstitute.org/fund-rankings/development-bank

5. Kuzenkova V.M. Concepts of development institutions: a retrospective analysis. Bulletin of the Plekhanov Russian University of Economics. 2020;17(1 (109)):40.

6. Monastyrsky E.A., Saklakov V.M. Classification of development institutions. Innovations. 2013;9 (179):65.

7. Sokolov A. Development institutions have failed innovations. Vedomosti, 02.03.2021. URL: https://www.vedomosti.ru/economics/articles/2021/03/01/859742-instituti-razvitiya

8. Botoroeva E. The effectiveness of development institutions will be assessed by 10 indicators. URL: https://www.pnp.ru/economics/effektivnost-institutov-razvitiya-ocenyat-po-10-pokazatelyam.html

9. Skolkovo approved a new KPI system and indicators for 2024–2026. URL: https://ria.ru/20231225/skolkovo-1917898633.html

10. Petrov A.N., Varlamov K.V., Komarov A.V., Matveev D.A. Efficiency of development institutions. Shift in the paradigm of development institutions in the medium term. Economics of Science. 2017;3(4):234.

11. Putin called for support for development institutions that fell under sanctions. URL: https://360tv.ru/news/vlast/putin-prizval-podderzhat-instituty-razvitija-popavshie-pod-sanktsii/

12. Inshakov O.V. Institution and institution: problems of categorical differentiation and integration. Economic science of modern Russia. 2010;3(50):26–38.

13. Deming W. Edwards, Out of the Crisis, The MIT Press, 1994. 524 p.

14. Towards harmonized management and measurement of impact: The experience of development finance institutions. URL: https://one.oecd.org/document/DCD(2021)30/en/pdf

15. OECD-UNDP Impact Standards for Financing Sustainable DEVELOPMENT OECD, UNDP 2021.

Forecast of the dynamics of global economic development for 2024–2025

DOI: 10.33917/mic-4.117.2024.27-38

The article analyzes the global economic forecasts for 2024–2025 developed by the World Bank, the IMF, and the OECD. According to the May OECD report, one of the risks to economic development may be an acceleration of inflation in developed countries. In the United States, annual inflation accelerated to 3,5% in March 2024, compared to 3,2% in February. And the US Federal Reserve is ready to postpone the interest rate cut until November 2024. The IMF forecast for Russian GDP growth in 2024 has been improved to 3,2%, but reduced to 1,8% for 2025. For the United States, GDP growth is projected to be 2,1% in 2024, and 1,7% for 2025.

References:

1. Chugunov Artem. The Economy of Developing Overheating. The World Bank Shares the Position of the Bank of Russia on the Nature of Inflation in the Russian Federation. 04/15/2024. URL: https://www.kommersant.ru/doc/6648521

2. World Bank. 2024. Global Economic Prospects. January. Washington, DC: World Bank. URL: https://openknowledge.worldbank.org/server/api/core/bitstreams/7fe97e0a-52c5-4655-9207-c176eb9fb66a/content

3. Borovikova Kristina. Developing Economies Are Becoming More Attached to Developed Ones. Monitoring the World Economy. 05.04.2024. URL: https://www.kommersant.ru/doc/6622054

4. Borovikova Kristina. The Grounds for a Global Slowdown Are Being Selected. OECD expects moderate growth in 2024. 06.02.2024. URL: https://www.kommersant.ru/doc/6493747

5. Edovina Tatyana. Global fun. The IMF has raised its forecasts for the global and Russian economies. 30.01.2024. URL: https://www.kommersant.ru/doc/6479601

6. Today’s number. Inflation in the OECD in 2023. 08.02.2024. URL: https://www.kommersant.ru/doc/6495212

7. Borovikova Kristina. The global economy has received additional growth. The OECD has cautiously improved its global GDP forecast. 02.05.2024. URL: https://www.kommersant.ru/doc/6680489

8. OECD Economic Outlook, May 2024. URL: https://www.oecd.org/economic-outlook/may-2024/

9. Elvira Nabiullina’s press conference: increase in the key rate, peak inflation. Key points. URL: https://www.kommersant.ru/doc/6760711

The formation of the imperative of clinical marketing in the management of sustainable development of innovations in the medical industry

DOI: 10.33917/mic-4.117.2024.39-48

The article discusses the concept of clinical marketing as one of the types of marketing in healthcare. The imperative of clinical marketing has been defined. The prerequisites for the development of clinical marketing include the transition to the principles of evidence–based medicine, regulation, and an increase in the cost of R&D for innovative medical products. The key success factors of medical products that accelerate the penetration of medical innovations into the market are highlighted. The program and the main tools of clinical marketing, the scope of their application is described. The scope of application of clinical marketing has been determined in accordance with the class of medical devices. It is shown that the use of elements of clinical marketing can have a positive impact on the commercialization of innovations in the context of the import substitution policy of the medical industry.

References:

1. Kotler F., Armstrong G., Saunders D., Wong V. Marketing Fundamentals: Trans. from English. 2nd European ed. M.; St. Petersburg; K.: Williams Publishing House, 2005. pp. 502–512.

2. Shevchenko D.A. Fundamentals of Modern Marketing: Textbook for Bachelors / D.A. Shevchenko. M.: Dashkov i Ko Publishing and Trading Corporation, 2019. 604 p.

3. Yamshchikov A.S., Maeva E.I. Theoretical and Methodological Foundations of Marketing of Medical Institutions. Healthcare Manager. 2011;10:28–35.

4. Ahmed R.R. Pharmaceutical Marketing Mix Strategy and Physician’s Prescription Behavior. The Pharma Innovation Journal. 2014;3:8–12.

5. Jambulingam Thani. The R&D Marketing Interface in Biopharma and MedTech. Journal of Commercial Biotechnology. 2019. No. 24.

6. Eriksson Päivi & Rajamäki Heidi. Biotechnology marketing: Insider and outsider views. Journal of Commercial Biotechnology. 2010. No. 16.

7. Stremersch Stefan & Dyck Walter. Marketing of the Life Sciences: A New Framework and Research Agenda for a Nascent Field. Journal of Marketing American Marketing Association. 2009;73:4–30.

8. Appelt Peter & Hauser Tino. Marketing Innovation: Prescribing Innovations: A Practical Framework for Effective Marketing of Medical Device Innovations. Journal of Medical Marketing. 2006;6:195–202.

9. Zuyenkova Yu.A. Features of public relations in the promotion of high-tech medical products // Marketing in the new reality: monograph. Moscow: Limited Liability Company “Rusains”, 2024. pp. 88–97.

10. Garcia Gonzalez-Moral S., Beyer F.R., Oyewole A.O., Richmond C., Wainwright L., Craig D. Looking at the fringes of MedTech innovation: a mapping review of horizon scanning and foresight methods. BMJ Open. 2023. Vol. 13. No. 9.

11. Sharma Jitendar & Bunders, Joske & Zuiderent-Jerak, Teun & Regeer B. A Model for Priority Setting in Health Technology Innovation Policy. Global Clinical Engineering Journal. 2020;2:24–34.

12. Gupta Prakamya, Rai Charu, Shahi Anjaney, Sharma Manisha, Choudhury Ranjan, Kotwal Atul. A comprehensive roadmap for MedTech innovations uptake into the public healthcare system in India. Frontiers in Digital Health. 2023. No. 5. 13. Porter M.E., Teisberg E.O. Redefining Health Care: Creating Value-Based Competition on Results. Harvard Business School Press, 2006.

Optimization of management systems for housing complexes, waste management and water resources in the department of housing and communal services of the city of Moscow based on the corporate philosophy of quality improvement

DOI: 10.33917/mic-4.117.2024.49-64

The article discusses the concept of clinical marketing as one of the types of marketing in healthcare. The imperative of clinical marketing has been defined. The prerequisites for the development of clinical marketing include the transition to the principles of evidence–based medicine, regulation, and an increase in the cost of R&D for innovative medical products. The key success factors of medical products that accelerate the penetration of medical innovations into the market are highlighted. The program and the main tools of clinical marketing, the scope of their application is described. The scope of application of clinical marketing has been determined in accordance with the class of medical devices. It is shown that the use of elements of clinical marketing can have a positive impact on the commercialization of innovations in the context of the import substitution policy of the medical industry.

References:

1. Adler Yu.P. Dr. Edwards Deming is a thinker who was ahead of time. Quality and life. 2020;3 (27):5–10.

2. Adler Yu.P., Shper V.L. The legacy of Dr. Deming: practical tips for managers of the XXI century. Methods of quality management. 2020;10:58–62.

3. Glashkina V.S., Tsyplov E.A. Dr. William Edwards Deming. Economics and Society. 2021;11-1 (90):896–899.

4. Konareva L.A. Quality as a lifestyle of Dr. Edwards Deming. Quality management in the field of healthcare and social development. 2012;1 (11):146–151.

5. World experience in the application of Kaizen principles in public administration. Kaizen Institute Rus LLC, 2017. 15 p.

6. Niv G.R. Establish leadership: the seventh principle of Edwards Deming. Methods of quality management. 2020;6:22–25.

7. Osipov A.N., Gnezdova Yu.V., Kuzin D.V., Rukina I.M., Tsagalov G.N. Public-private partnership as a model for the development of the innovative economy of the country. The economics of agriculture in Russia. 2016;1:26–33.

8. Rukina I.M., Filatov V.V., Zhenzhebir V.N., Polozhentseva I.V. Industrial recycling technologies in the industrial complex. Microeconomics. 2018;1:11–20.

9. Rukina I.M., Filatov V.V. Strategic management of solid household waste processing in municipalities of the Moscow region. Microeconomics. 2017;6:85–94.

10. Tishina A.O. How to manage quality: 14 Edwards Deming Rules. Economics and society. 2021;4-2 (83):442–445.

11. Tsybina E.O. The PDCA cycle of U.E. Deming for the implementation of services for the implementation of an order at a printing company. Diary of Science. 2020;12 (48):33.