scholarly journals Development strategies of modern enterprises: a study on Russian metallurgical industry

2019 ◽  
Vol 124 ◽  
pp. 05087
Author(s):  
Daria Baklanovskaya ◽  
Marat Goguadze ◽  
Lyubov Shamina
Keyword(s):  
Development Strategy ◽  
High Performance ◽  
Corporate Strategy ◽  
External Environment ◽  
Metallurgical Industry ◽  
Production Costs ◽  
Operating Efficiency ◽  
Production Cycle ◽  
Resource Base ◽  
Metal Processing

The development of the metal processing industry requires paying attention both to the environmental safety of technologies of metal processing and to the energy costs. We will look at the economic impact of reducing production costs by saving resources and using environmental engineering tools. Minimizing the cost of protecting the air and water, soils and perennial plantings, recycling and disposal of waste and protecting natural landscapes are an important aspect of the company’s development strategy. The article discusses the implementation of elements of strategies announced by the largest steel companies—Novolipetsk and Magnitogorsk Metallurgical Plants, and Severstal PJSC. The definition of strategy has been given. The strategy, on the one hand, is presented as an element of the enterprise’s interaction with the external environment. On the other hand, it is seen from the point of view of the company’s activity on three levels: corporate–business–functional, each of which, in its turn, consists of certain elements. We highlight the main elements of company’s strategies, which are (generalized) as a combination of operational efficiency and cost reduction (functional strategies)—for all the companies, as well as market leadership (corporate strategy)—only for NLMP. The SWOT-analysis of the activities of all companies highlighted common characteristics of their traits: low growth of the world and domestic economy, low level of use of metallurgical capacity worldwide; the policy of protectionism that replaced globalization, the introduction of duties to enter the markets, the fact that domestic companies have their own resource base, the full production cycle, and other factors.As a general conclusion, despite the complexity of the external environment, companies try to adhere to the stated strategy and maintain high performance of operating efficiency and dividends. Companies can be considered to be confirming to their strategies and a system of planned indicators.

The principles of duality in the light of the system economic theory

2019 ◽  
pp. 127-149
Author(s):  
George B. Kleiner
Keyword(s):  
Economic Theory ◽  
Economic System ◽  
External Environment ◽  
Black Box ◽  
Space Time ◽  
Production Cycle ◽  
Economic Systems ◽  
New Approach ◽  
Reproduction Cycle ◽  
Basic Concepts

This paper shows the diversity and significance of relations of duality among different economic systems. The composition of the principles underlying the system economic theory used for the analysis of duality in the economy is investigated. The concept of the economic system is clarified and the equivalence of three basic concepts of the economic system is shown: a) as a space-time volume (“black box”); b) as a complex of elements and connections among them; c) as a tetrad, including object, project, process and environment components. In a new way, the concept of the tetrad is revealed. The actual interpretation of the interrelationships of its components, based on the mechanisms of intersystem circulation of spatial and temporal resources and the transmission of abilities from one economic system to another, is proposed. On the basis of the obtained results, the most essential aspects of duality in the theory of economic systems are considered. It is shown that the interaction of internal content and the nearest external environment of economic systems lies in the nature of the relations of duality. A new approach to modeling the structure and to functioning of the economic system, based on the description of its activities in the form of two interconnected tetrads (the first tetrad reflects the intrasystem production cycle and the second one — the external realization-reproduction cycle) is put forward. It is shown that the concept of duality in a system economy creates prerequisites for adapting the functioning of local economic systems (objects, projects, etc.) in a market, administrative and functional environments and, as a result, harmonizing the economy as a whole.

scholarly journals Cycle-oriented approach to building a model of production costs

2020 ◽  
Vol 17 ◽  
pp. 00124
Author(s):  
Elena P. Polikarpova ◽  
Igor E. Mizikovskiy
Keyword(s):  
Cost Management ◽  
Modern Science ◽  
Management Control ◽  
Point Of View ◽  
Production Costs ◽  
Production Cycle ◽  
Agricultural Activity ◽  
Management Tools ◽  
Agricultural Enterprises ◽  
Oriented Approach

Modern science and practice does not have a sufficient set of cost management tools, taking into account the duration of the production cycle, characteristic of agricultural activity. The implementation of a cycle-oriented approach to building a model of production costs was based on studying the existing options for classifying production costs, which were supplemented with features from the perspective of managing long production cycles. As a result of the study, a model of production costs was built from the point of view of a cycle-oriented approach, as well as a model of production costs from the standpoint of features of a long production cycle. The model can serve as the basis for the formation of the information space of cost management, control and cost analysis in the economy of agricultural enterprises.

scholarly journals Study on Economic Activity Analysis based on the Interaction of “Operation, Value and Performance”

2020 ◽  
Vol 165 ◽  
pp. 06009
Author(s):  
Jie Gao
Keyword(s):  
Big Data ◽  
Economic Activity ◽  
Corporate Strategy ◽  
Activity Analysis ◽  
Operating Efficiency ◽  
Analysis Model ◽  
Business Decision ◽  
Traceability Analysis ◽  
And Performance ◽  
Analysis System

In order to meet external regulation and challenges, and improve the quality of internal economic activity analysis, this study establishes a linkage analysis system from corporate strategy to strategic objectives to financial indicators to business indicators by building 3 independent and interrelated analysis models. One of them is the model of influencing factors of change of operating efficiency index, one of them is the traceability analysis model of the sales of electricity and electricity price, and the last one is an investment performance traceability analysis model. In this study, the actual data of a unit is used as an example. With the help of big data analysis, we fully tap the value of the company’s big data, accurately locate the weak links and risk points of management. By doing this we finely promote economic activity analysis system more comprehensive, more real-time, more dynamic and more intelligent, and thus improve the efficiency of business decision-making. The practicality of economic activity analysis based on “operation, value and performance” is confirmed.

Synthesis of High-Performance Hard Carbon from Waste Coffee Ground as Sodium Ion Battery Anode Material: A Review

2021 ◽  
Vol 1044 ◽  
pp. 25-39
Author(s):  
Hafid Khusyaeri ◽  
Dewi Pratiwi ◽  
Haris Ade Kurniawan ◽  
Anisa Raditya Nurohmah ◽  
Cornelius Satria Yudha ◽  
...  
Keyword(s):  
Electrochemical Performance ◽  
Electrode Material ◽  
High Performance ◽  
Production Costs ◽  
Sodium Ion ◽  
Carbon Anode ◽  
Sodium Ion Battery ◽  
Sodium Ion Batteries ◽  
Hard Carbon ◽  
Coffee Grounds

The battery is a storage medium for electrical energy for electronic devices developed effectively and efficiently. Sodium ion battery provide large-scale energy storage systems attributed to the natural existence of the sodium element on earth. The relatively inexpensive production costs and abundant sodium resources in nature make sodium ion batteries attractive to research. Currently, sodium ion batteries electrochemical performance is still less than lithium-ion batteries. The electrochemical performance of a sodium ion battery depends on the type of electrode material used in the manufacture of the batteries.. The main problem is to find a suitable electrode material with a high specific capacity and is stable. It is a struggle to increase the performance of sodium ion batteries. This literature study studied how to prepare high-performance sodium battery anodes through salt doping. The doping method is chosen to increase conductivity and electron transfer. Besides, this method still takes into account the factors of production costs and safety. The abundant coffee waste biomass in Indonesia was chosen as a precursor to preparing a sodium ion battery hard carbon anode to overcome environmental problems and increase the economic value of coffee grounds waste. Utilization of coffee grounds waste as hard carbon is an innovative solution to the accumulation of biomass waste and supports environmentally friendly renewable energy sources in Indonesia.

scholarly journals Principles for assessing efficiency of implementation of a corporate strategy

2020 ◽  
pp. 48-55
Author(s):  
Anastasiya Olegovna Androsova ◽  
Anna Viktorovna Semenikhina
Keyword(s):  
Development Strategy ◽  
Work Performance ◽  
Corporate Strategy ◽  
Detailed Examination ◽  
Successful Implementation ◽  
Corporate Development ◽  
Current Context ◽  
The Subject ◽  
Strategic Perspective

The subject of this research is the analysis of components constituting the efficiency of corporate strategy. The authors conduct detailed examination on the key elements of a competitive strategy proposing means for its assessment, and give recommendations in assessment of the efficiency of corporate development strategy, which plays the crucial role in realization and success of the activity of any company. The object of this research is the socioeconomic component of organization. An attempt was made to establish dependence between the key economic indicators of activity of the company and successful implementation of its strategy, which allowed formulating the main principles for its assessment. In the current context, the rapid changes in external environment force the companies to build more flexible development strategies and constantly adjust them in accordance with the dictated changes. At the same time, it is important to be able to assess the existing strategy through the prism of work performance indicators. The article substantiates the need for constant monitoring and assessment of the efficiency of existing corporate development strategy; establishes connection between the goals, resources, outlook, mission of the company with its strategy; as well as suggests the principles for assessing efficiency of corporate strategy that would facilitate timely determination of problematic areas from the strategic perspective and initiate measures for their elimination, which maintain the company’s competitiveness and help achieve long-terms success.

scholarly journals Rancangan sistem pengukuran kinerja untuk penentuan key performance indicator dengan metode Balance scorecard

2020 ◽  
Vol 12 (2) ◽  
pp. 248
Author(s):  
Lucky Setiawan ◽  
Yuliani Fauziah
Keyword(s):  
Performance Measurement ◽  
Balanced Scorecard ◽  
Evaluation Method ◽  
Corporate Strategy ◽  
Performance Indicator ◽  
Production Costs ◽  
Success Factor ◽  
Key Performance Indicator ◽  
Labor Costs ◽  
The Balanced Scorecard

This research adopts the Vision and Mission of a textile company headquartered in Tangerang. This company produces producing polo shirts, golf shirts, track suits, sweat shirts, and pants using materials such as single jersey, pique, lace in cotton, polyester, and others. The company's vision and mission can represent other textile companies that have the same processes and products. The characteristics of textile companies that have processes with human skill factors become critical points that are difficult to replace with robot technology. This has an impact on the needs of a large number of human resources in the industry. The increase in labor costs which always increases every year has a very significant impact on production costs. Thus, expansion is one of the critical factors to be used as a top management strategy in determining the current KPI items. The Balanced Scorecard is a performance evaluation method that can meet these expectations. The design of company performance measurement in this study begins with the translation of the company's vision and mission, secondly, making a proposed corporate strategy using the PQCDSME approach (profit, quality, Cost, Delivery, Service, Moral, Environment). Third, calcify the company's strategy into the perspective of the balanced scorecard. Fourth, the decision making process to determine KPI items using the brainstorming method. Fifth, determining the critical success factor and key performance indicator. Other factors are also compared between the achievement of the previous year as an illustration of determining a target. So the target given will be in accordance with the SMART rules (speciefic, measurable, achievable, realistic and timely). The results are obtained with 4 criteria (financial, consumer, internal business processes, learning and growth). This performance measurement produced 19 key performance indicators, consisting of 6 financial perspective indicators, 1 customer perspective indicator, 7 internal business process perspective indicators, and 5 growth and learning perspective indicators.

scholarly journals SWOT-ANALYSIS AS A TOOL FOR DETERMINING A SMALL ENTREPRENEURIAL STRUCTURE DEVELOPMENT STRATEGY

2021 ◽  
pp. 59-66
Author(s):  
Khrystyna Danylkiv ◽  
Oksana Sadura
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Small Businesses ◽  
Matrix Method ◽  
Banking Sector ◽  
Swot Analysis ◽  
External Environment ◽  
The State ◽  
Retail Trade ◽  
Strategic Analysis

Purpose. The aim of the article is strategic analysis of the state of development of LLC “GALYCHMED”, identification of positive and negative trends and changes, identification, and awareness of the factors that cause inhibition of its development, search for priority ways and directions of development of the analysed enterprise. Methodology of research. To achieve this goal, a toolkit of research methods was used, namely: economic-statistical and calculation-analytical – to study the opportunities and threats to the external environment of the operation of LLC “GALYCHMED”, the strengths and weaknesses of the studied enterprise; matrix method of strategic analysis (SWOT-analysis) – to comprehensively reflect the results of the analysis of the external and internal environment of LLC “GALYCHMED”; problem-oriented – to substantiate the strategic directions and the potential scenario of solving the issues of development of the analysed enterprise; tabular – for visual display and effective perception of statistical data; induction and deduction – for concluding; logical – for the consistent generalization of theoretical and practical provisions of scientific research. Findings. SWOT analysis was performed according to the stages of filling in the SWOT matrix, processing (summarizing) results, and analysis of results. It is noted that the main purpose of SWOT analysis as a matrix method is to obtain reliable data on the company’s capabilities and threats to its promotion in the market of goods and services, so before SWOT analysis are the following tasks: identifying marketing opportunities that meet the company’s resources; identification of marketing threats and development of measures to neutralize their impact; identifying the strengths of the enterprise and comparing them with market opportunities; identification of enterprise weaknesses and development of strategic directions for overcoming them; identification of competitive advantages of the enterprise and formation of its strategic priorities. It is established that the influence of the macroenvironment is negative and the mesoenvironment is positive. The most important factors of positive influence are the attitude of the buyer to the product, the population, the attitude of people to work, and so on. Among the most negative factors are inflation, the social situation in the country and the world (COVID-19), financial crisis, slowing economic growth, the purchasing power of the population, industry competitors, potential competitors, and more. The following advantages of the analysed enterprise are determined: the goods sold by the enterprise; quality of services; state of the sales system; market share; availability of credit; enterprise assets; net profit. It is proved that the unstable financial market due to the pandemic, the devaluation of the national currency, the situation in the banking sector, losses in the area of environmental protection in eastern Ukraine, as well as other factors negatively affected the trading activities of LLC “GALYCHMED”. In most retailers, costs have risen and profits have fallen, prompting more conservative pricing and spending cuts. Originality. The application of SWOT analysis has been further developed, which allows to selection measures to ensure the economic growth of the enterprise, systematize problem situations, identify and use new potentials faster than competitors, avoid dangers, make informed decisions about small business development, and prevent irrational use of financial assets. This technique is an effective, affordable, cheap way to assess the state of the problem and management situation in small businesses. Practical value. The results of the SWOT analysis are recommended for use by the researched enterprise (LLC “GALYCHMED”) and other retail enterprises to determine the development strategy, for market analysis and study of competitiveness, but each time it must be adapted to the specifics of the enterprise. Key words: SWOT analysis, strengths, and weaknesses of the enterprise, opportunities and threats, external environment, economic environment, financial and economic situation, retail trade, strategic planning, demography, political environment.

The Commercialization of University and Research Institutes’ Science-Based Innovations: The Four Successful Chinese Cases

2018 ◽  
Vol 03 (03) ◽  
pp. 1850013 ◽  
Author(s):  
Yacheng Yang ◽  
Hong Chen ◽  
Qingzhi Zhang ◽  
Jiasu Lei
Keyword(s):  
Development Strategy ◽  
Financial Incentives ◽  
High Performance ◽  
Low Cost ◽  
Global Market ◽  
Inspection System ◽  
Policy Enforcement ◽  
Innovative Strategy ◽  
Low Cost Strategy ◽  
Business Acumen

Science empowers as a nation’s toughest weapon in the future global competition and cooperation. A large number of countries listed in-house R&D for science-based innovations as their core development strategy in the next decade. This paper conducts multi-case analysis on four science-based innovations in China as a reference for how a new science-based venture superseded in global market and developed indigenous capability to generate much business value as well as scientific value. The four cases detailed are container inspection system, hot redundant JX-100 DCS, high-performance Dawning supercomputers and Chinese-character laser phototypesetting system. We concluded that the successful commercialization of a nationwide and grand scientific project requires the following: (1) visionary scientists’ solid authority, direct participation, business acumen and a strong sense of patriotism, without intermediaries, are the core for successful science-based innovation and commercialization during knowledge transformation; and (2) the powerful and direct support from the policymakers. Forms of support may vary from financial incentives, policy enforcement and endorsement. The consequences for the success of science-based innovations are the creation of highly-skilled manpower, new market as well as shifting away from low-cost strategy to innovative strategy.

scholarly journals Financial Support Problems of Developing a Territory`s Touristic Potential

2018 ◽  
Vol 170 ◽  
pp. 01046 ◽  
Author(s):  
Natalia Kataeva ◽  
Irina Marakulina ◽  
Yelena Snigireva ◽  
Sergey Barinov
Keyword(s):  
Development Strategy ◽  
Statistical Methods ◽  
Financial Support ◽  
Development Program ◽  
Private Investment ◽  
Resource Base ◽  
Regional Budget ◽  
The Status ◽  
Development Prospects ◽  
Tourist Flow

This article considers the influence of financial support on developing the territory`s touristic potential. Having applied economic-mathematical and statistical methods, the authors have analyzed the touristic and investment potential of Kirov region. They have come to the conclusion that the financing of developing the territory`s touristic and investment potential is performed mainly using the federal and regional budget funds within the framework of the approved Development Strategy of Territories, the share of private investment is rather small. Using the methods of logical qualitative judgments and scientific assessment on the basis of the existing Program for Tourism Development Program in Kirov region, the authors have offered a two-stage innovative scenario for developing the territory. This scenario relies on the available resource base and its development prospects on account of additional financing. Attracting additional investments in developing the touristic potential of Kirov region is possible due to the image promotion of the region, the popularization and enhancement of the status of events held on its territory, as well as the development of infrastructure facilities. In our opinion, the possibility to invest in developing infrastructure facilities is of prime importance as infrastructure facilities greatly affect the increase in tourist flow of the region.

scholarly journals Key performance indicators of major companies: a study on Russian metallurgical industry

2019 ◽  
Vol 124 ◽  
pp. 05086
Author(s):  
Daria Baklanovskaya ◽  
Marat Goguadze ◽  
Alexey Shmatko
Keyword(s):  
Financial Stability ◽  
Metallurgical Industry ◽  
Environmental Safety ◽  
Production Costs ◽  
Energy Costs ◽  
Short Term ◽  
Energy Complex ◽  
Fixed Assets ◽  
Short And Long Term

The development of the metallurgical industry requires investing in the environmental safety of processes and technologies of metal processing, as well as to the measures aimed at energy costs reduction. We will look at the economic impact of reducing production costs by saving resources and improving the efficiency of the energy complex. The financial effect of reducing energy consumption per unit of production can be achieved by optimizing the purchase of energy resources, modes of operation of technological and support equipment, improving the management of the company’s energy complex. The article examines the most important indicators of the operating and financial activities of the three companies in the steel industry—Novolipetsk and Magnitogorsk Metallurgical Plants, as well as Severstal PJSC. The financial stability of these companies and the agility of their capital are quite high, and their fixed assets are financed by their own funds. Companies are also financially stable in the short term, as evidenced by the high current liquidity ratios (2 and above), and their own capital exceeds borrowing by 1.5 to 2 times. Thus, we can conclude that they are operationally efficient and have good financial sustainability in the short and long term.

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