Using foresight for smart policy actions: the case of Russian energy exports

foresight ◽  
2017 ◽  
Vol 19 (5) ◽  
pp. 511-527
Author(s):  
Alexander Chulok ◽  
Svetlana N. Slobodianik ◽  
Evgeny Moiseichev
Keyword(s):  
Fossil Fuels ◽  
Corporate Strategy ◽  
Decision Makers ◽  
Strategic Decision ◽  
Net Energy ◽  
Regional Economies ◽  
Future Prospects ◽  
Content Type ◽  
Regional Markets ◽  
The Given

Purpose This study aims to assess future prospects for Russian energy exports until 2040, as global energy markets are undergoing major changes, with possible impacts on Russia. Design/methodology/approach Qualitative and quantitative approaches are integrated under a proposed foresight framework. The qualitative method involves an expert survey aimed at identifying major energy trends and their influence on Russia. As the trends are validated, an algorithm is proposed to assess the contribution of separate trends to Russian energy exports. Findings Experimental quantitative scenarios are conducted to assess the prospects for Russian energy exports until 2040 under the given exogenous scenario calculations of the IEA. Factor analysis allows for an assessment of the contribution of separate factors in dynamics of net energy imports into the regional economies. The future prospects for fossil fuels’ exports on regional markets are considered. Priority markets for Russian energy exporters are identified. Practical implications The results of the paper may be used by decision-makers for adjustments in the system of government policy or corporate strategy. Originality/value The paper provides an algorithm to assess energy export flows to macroregions based upon the synthesis of quantitative and qualitative information. Experimental scenario calculations of the Russian fossil fuels’ exports are provided. Strategic decision-making map is elaborated.

Implementing asset data management in power companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Elizaveta Gavrikova ◽  
Irina Volkova ◽  
Yegor Burda
Keyword(s):  
Decision Making ◽  
Data Management ◽  
Electric Power ◽  
Organizational Context ◽  
Corporate Strategy ◽  
Strategic Decision ◽  
Content Type ◽  
Operational Level ◽  
Asset Data

PurposeThe purpose of this paper is to design a framework for asset data management in power companies. The authors consider asset data management from a strategic perspective, linking operational-level data with corporate strategy and taking into account the organizational context and stakeholder expectations.Design/methodology/approachThe authors conducted a multiple case study based on a literature review and three series of in-depth interviews with experts from three Russian electric power companies.FindingsThe main challenge in asset data management for electric power companies is the increasing amount and complexity of asset data, which is frequently incomplete or inaccurately collected, hard to translate to managerial language, focused primarily on the operational level. Such fragmented approach negatively affects strategic decision-making. The proposed framework introduces a holistic approach, provides context and accountability for decision-making and attributes data flows, roles and responsibilities to different management levels.Research limitations/implicationsThe limitations of our study lie in the exploratory nature of case study research and limited generalization of the observed cases. However, the authors used multiple sources of evidence to ensure validity and generalization of the results. This article is a first step toward further understanding of the issues of transformation in power companies and other asset intensive businesses.Originality/valueThe novelty of the framework lies in the scope, focus and detailed treatment of asset data management in electric power companies.

Impact of family involvement on strategy and CEO compensation

2019 ◽  
Vol 10 (3) ◽  
pp. 189-212
Author(s):  
Manika Kohli ◽  
Suveera Gill
Keyword(s):  
Decision Making ◽  
Panel Data ◽  
Family Involvement ◽  
Ceo Compensation ◽  
Family Firms ◽  
Corporate Strategy ◽  
Dynamic Panel Data ◽  
Growth Strategy ◽  
Strategic Decision ◽  
Content Type

Purpose As widely known and well established, strategic decision-making at family firms is an interface between business interests and family considerations. The purpose of this paper is to understand the underlying basis of decision-making in setting corporate strategy and designing chief executive officer (CEO) compensation at founder- vis-à-vis descendant-led family firms in the Indian pharmaceutical sector. Design/methodology/approach A sample of 106 BSE-listed pharmaceutical companies have been studied over the period 2012–2017 resulting in a total of 636 firm-year observations. Impact of family involvement in business (FIB) on corporate strategy and CEO compensation has been analysed by constructing multivariate panel data regression models. To deal with the problem of endogeneity, Arellano-Bond (1991) dynamic panel data estimation procedure has moreover been conducted. Findings Supporting stewardship theory, founder-owned and governed firms have been found to favour “growth” strategy and distribute “conservative” executive pay, thereby exerting a positive moderating impact on the strategy-compensation linkage. On the contrary, descendants/second-generation entrepreneurs have put forth a “conservative” stance for growth and innovation, and have rather been observed to favour a “liberal” compensation policy, thereby showcasing the application of behavioural agency theory. Originality/value The research is a novel attempt to unravel the interaction between corporate strategy and CEO compensation in a family firm backdrop carried out in the context of an emerging economy. The study, moreover, adopted an all-encompassing definition of FIB (ownership, management and governance).

scholarly journals The company in society: when corporate responsibility transforms strategy

2018 ◽  
Vol 39 (4) ◽  
pp. 11-18 ◽  
Author(s):  
Sonja Lahtinen ◽  
Hannu Kuusela ◽  
Mika Yrjölä
Keyword(s):  
Business Models ◽  
Corporate Strategy ◽  
A Priori ◽  
Strategic Decision ◽  
Illustrative Case ◽  
Content Type ◽  
Case Examples ◽  
Strategic Initiatives ◽  
Strategic Changes

Purpose This study aims to identify and analyze the different roles corporate social responsibility (CSR) can play in corporate strategy. By acknowledging that one of the biggest challenges for companies in committing to sustainability is the strategy work, the authors outline specific strategic initiatives to achieve these roles and the strategic outcomes that will follow such initiatives. Design/methodology/approach Four illustrative case examples show how companies are recasting the role of CSR. The new CSR roles are characterized through two strategic dimensions: an inside-out (firm-oriented) vs outside-in (market-oriented) orientation and an emphasis on leveraging vs an emphasis on prospecting activities. Findings The findings show that to realize the opportunities of CSR for business, the environment and society at large, the role of CSR in the boardroom must be reconfigured. By recasting its role, CSR can become a driver for the strategy process and a transformative force generating strategic changes. Practical implications This paper aims to encourage top executives to take a proactive stance toward responsibility, recognize the new roles and potential impact that CSR can have in corporate strategy and assist strategic decision-making regarding CSR. Originality/value The paper aims to move beyond integrating sustainability into existing strategies and business models by demonstrating how sustainability can also inspire strategic changes a priori when the role of CSR is recast in companies. By viewing CSR as a driver of corporate strategy and strategic initiatives, the authors suggest that besides helping the environment, the community and society, CSR can take care of corporate strategy.

The impacts of adaptive attacking and defending strategies on mitigation of intentional threats

Kybernetes ◽  
2010 ◽  
Vol 39 (5) ◽  
pp. 825-837 ◽  
Author(s):  
Jing Zhang ◽  
Shifei Shen ◽  
Rui Yang
Keyword(s):  
Information Disclosure ◽  
Stochastic Game ◽  
Adaptive Strategies ◽  
Decision Makers ◽  
Strategic Decision ◽  
Theoretic Approach ◽  
Content Type ◽  
Disclosure Policy ◽  
Game Theoretic ◽  
Game Theoretic Approach

PurposeThe purpose of this paper is to focus on resource allocation and information disclosure policy for defending multiple targets against intentional attacks. The intentional attacks, like terrorism events, probably cause great losses and fatalities. Attackers and defenders usually make decisions based on incomplete information. Adaptive attacking and defending strategies are considered, to study how both sides make more effective decisions according to previous fights.Design/methodology/approachA stochastic game‐theoretic approach is proposed for modeling attacker‐defender conflicts. Attackers and defenders are supposed both to be strategic decision makers and partially aware of adversary's information. Adaptive strategies are compared with different inflexible strategies in a fortification‐patrol problem, where the fortification affects the security vulnerability of targets and the patrol indicates the defensive signal.FindingsThe result shows that the intentional risk would be elevated by adaptive attack strategies. An inflexible defending strategy probably fails when facing uncertainties of adversary. It is shown that the optimal response of defenders is to adjust defending strategies by learning from previous games and assessing behaviors of adversaries to minimize the expected loss.Originality/valueThis paper explores how adaptive strategies affect attacker‐defender conflicts. The key issue is defense allocation and information disclosure policy for mitigation of intentional threats. Attackers and defenders can adjust their strategies by learning from previous fights, and the strategic adjustment of both sides may be asynchronous.

Performance measures and metrics for the creative economy

2014 ◽  
Vol 21 (1) ◽  
pp. 46-61 ◽  
Author(s):  
D. Steven White ◽  
Angappa Gunasekaran ◽  
Matthew H. Roy
Keyword(s):  
Performance Measures ◽  
Decision Makers ◽  
Creative Economy ◽  
Competitive Advantages ◽  
Regional Economies ◽  
Content Type ◽  
Developed Economies ◽  
Descriptive Research ◽  
Knowledge Based ◽  
Creativity And Innovation

Purpose – Creativity is becoming one of the most powerful sources of competitive advantage in the modern economy. As more developed economies progress from the tertiary (or service-based) level to the quaternary (or knowledge-based) level, successful nurturing of creativity and innovation provides competitive advantages for industries and countries alike. The paper aims to discuss these issues. Design/methodology/approach – Based on the extant literature, a set of performance measures and metrics for the creative economy is proposed. Findings – A conceptual framework for developing a creative economy is presented, and measures and metrics to be used as a managerial tool for controlling performance in creative economies are provided. Research limitations/implications – Although the measures and metrics presented are based on the best available research, they are not empirically tested. Thus, the measures and metrics must be considered speculative and descriptive research is needed to validate their utility. Practical implications – Utilizing the performance measures and metrics identified in this research provides policy and decision makers with a foundation on which to build their local or regional economies. Originality/value – The research as presented contributes to the literature on the creative economy and is unique in its contribution to said literature.

scholarly journals Surviving or flourishing? Integrating business resilience and sustainability

2014 ◽  
Vol 7 (3) ◽  
pp. 303-315 ◽  
Author(s):  
Julie Winnard ◽  
Andy Adcroft ◽  
Jacquetta Lee ◽  
David Skipp
Keyword(s):  
Complex Adaptive Systems ◽  
Adaptive Systems ◽  
Decision Makers ◽  
Strategic Decision ◽  
Content Type ◽  
Competitive Environments ◽  
Novel Approach ◽  
Complex Adaptive ◽  
The Right

Purpose – Businesses are always seeking resilient strategies so they can weather unpredictable competitive environments. One source of unpredictability is the unsustainability of commerce's environmental, economic or social impacts and the limitations this places on businesses. Another is poor resilience causing erroneous and unexpected outputs. Companies prospering long-term must have both resilience and sustainability, existing in a symbiotic state. The purpose of this paper is to explore the two concepts and their relationship, their combined benefits and propose an approach for supporting decision makers to proactively build both characteristics. Design/methodology/approach – The paper looks at businesses as complex adaptive systems, how their resilience and sustainability can be defined and how these might be exhibited. It then explores how they can be combined in practice. Findings – The two qualities are related but have different purposes, moreover resilience has two major forms related to timescales. Both kinds of resilience are identified as key for delivering sustainability, yet the reverse is also found to be true. Both are needed to deliver either and to let businesses flourish. Practical implications – Although the ideal state of resilient sustainability is difficult to define or achieve, pragmatic ways exist to deliver the right direction of change in organisational decisions. A novel approach to this is explored based on transition engineering and robustness engineering. Originality/value – This paper links resilience and sustainability explicitly and develops a holistic pragmatic approach for working through their implications in strategic decision making.

A grey-based decision-making approach to the supplier selection problem in a steelmaking company

2017 ◽  
Vol 7 (3) ◽  
pp. 385-396 ◽  
Author(s):  
Ali M. Abdulshahed ◽  
Ibrahim A. Badi ◽  
Mohamed Mehemed Blaow
Keyword(s):  
System Theory ◽  
Decision Making ◽  
Supplier Selection ◽  
Grey System Theory ◽  
Decision Makers ◽  
Strategic Decision ◽  
Selection Problem ◽  
Selection Strategy ◽  
Grey System ◽  
Content Type

Purpose The purpose of this paper is to propose a supplier selection method using grey system theory for a steelmaking company in Libya. Design/methodology/approach In order to tackle incompleteness and imprecision of human’s judgments, grey numbers were used. This work uses a grey-based approach to represent decision makers’ comparison judgments and extent analysis method to select the best supplier. Therefore, an example of a selection problem of a steelmaking company in Libya was used to illustrate the proposed approach. Findings Supplier selection in a supply chain is a critical strategic decision for company’s success and has attracted much attention of both academic scholars and decision makers. The authors have found that the Grey model can play an important role in improving supplier selection strategy, especially when it is in a situation where complex sustainability environments (i.e. Libya) exist. Originality/value No literature has been found till date for selection of supplier using grey system theory in a steelmaking company in Libya. An attempt in this regard could enhance a decision-making technique for selecting the best suppliers for the selected case company.

Evaluation of vendors ranking by EATWOS approach

2014 ◽  
Vol 11 (3) ◽  
pp. 290-311 ◽  
Author(s):  
Ankit Bansal ◽  
Rajesh Kr. Singh ◽  
Siddhant Issar ◽  
Jayson Varkey
Keyword(s):  
Decision Making ◽  
Efficiency Measurement ◽  
Strategic Decision ◽  
Data Envelopment ◽  
National Capital Region ◽  
Content Type ◽  
Analysis Technique ◽  
Improvement Potential ◽  
National Capital ◽  
The Given

Purpose – In order to improve the supply chain performance, organizations need to improve the efficiency of vendors. Although many techniques are used for vendor efficiency measurement, there is a lack of research about defining satisficing level to analyze improvement potential of vendors. The purpose of this paper is to incorporate satisficing level of some outputs to determine efficiency improvement potential of existing vendors. Design/methodology/approach – Method used in this paper is an extension of Data Envelopment Analysis, which has been used frequently for efficiency measurement of Decision Making Units. This method is known as Efficiency Analysis Technique with Output Satisficing (EATWOS), which has been mainly used in the field of economics for efficiency measurement. Findings – A case illustration of a National Capital Region of Delhi, India, based manufacturer and distributor of packaged drinking water is depicted to portray the practical application of EATWOS in vendor efficiency evaluation and their relative ranking. This method has helped in evaluating the improvement potential in performance of given vendors and helping in strategic decision making for the given organization Research limitations/implications – In case of more variables, this method becomes more complex to get the solution. Second, sometimes difference in vendors ranking without and with satisficing concept is very less, as in this case. Therefore, recording and analysis of output data of vendors should be done very carefully. Practical implications – Major implications of this study is that while selecting vendors, organizations should also try to understand improvement potential for given vendors by applying satisficing concept as given in this research. This approach helps in analyzing improvement potentials of suppliers. Originality/value – This paper explores an innovative approach to rank vendors on basis of certain criteria after considering the satisficing concept and improvement potentials of vendors.

Managing strategic paradoxes: the influence of demographic characteristics of decision-makers

2020 ◽  
Vol 33 (5) ◽  
pp. 835-858
Author(s):  
Aldona Glińska-Neweś ◽  
Iwona Escher ◽  
Barbara Józefowicz ◽  
Alicja Łuka
Keyword(s):  
Organizational Performance ◽  
Educational Background ◽  
Individual Characteristics ◽  
Decision Makers ◽  
Strategic Decision ◽  
Strategic Choices ◽  
Content Type ◽  
Significant Research ◽  
Research Gap ◽  
A Company

PurposeTogether with increasing ambiguity and frequency of changes, management becomes full of seemingly conflicting choices, i.e. paradoxes, coming up in the process of decision-making. Successful management of paradoxes, i.e. treating them as “both/and” constructs leads to innovative solutions and better overall organizational performance. In response to a significant research gap regarding antecedents of managing paradoxes, the aim of the paper is to investigate how individual characteristics of strategic decision-makers, specifically their age, tenure and educational background, affect the ability to combine contradictions in their strategic choices.Design/methodology/approachAn empirical study was conducted among 201 managers representing furniture companies in Poland. The CATI technique with an interview questionnaire was adopted in order to identify respondents' opinions on the main features, traits and dimensions of the strategy implemented in their companies. Participants' tenure, age and education were measured by single items.FindingsThe study suggests that the ability to manage paradoxes increases with age and tenure in a company and at a current position. At the same time economic/business educational background appears to be unsupportive in this regard.Originality/valueWhile the issue of managing paradoxes energizes researchers in various disciplines, we still do not know much about antecedents of the process. The study shed light on effects that managers' demographics have on their ability of managing paradoxes. It contributes to the theory on strategic paradoxes as well as theory on the influence of decision-makers' individual characteristics on their decisions.

Decision-maker characteristics and international decisions for SMEs

2015 ◽  
Vol 53 (10) ◽  
pp. 2226-2249 ◽  
Author(s):  
Barbara Francioni ◽  
Fabio Musso ◽  
Marco Cioppi
Keyword(s):  
Decision Maker ◽  
Design Methodology ◽  
Risk Attitude ◽  
Decision Makers ◽  
Strategic Decision ◽  
International Strategy ◽  
Content Type ◽  
Political Behaviour ◽  
Internationalization Strategies ◽  
The Relationship

Purpose – The purpose of this paper is to explore how characteristics of decision-makers influence internationalization strategies within small and medium-sized enterprises (SMEs), with a particular focus on the strategic decision-making process (SDMP). Design/methodology/approach – This work is based on a sample of 165 decision-makers of SMEs, using hierarchical multiple regression to examine the relationship between the dimensions studied. Findings – The results of a regression analysis suggest that decision-makers tend to follow a more rational SDMP depending on their education level and risk attitude, and the firm’s past international performance. At the same time, the political behaviour of the decision-maker emerges as a character associated with their risk attitude and need for achievement, and it is negatively influenced by age. Originality/value – This research contributes to the growing literature on SMEs, combining the field of analysis of SDMP with that of international strategy. Moreover, unlike previous studies, which have focused on the top management team, managers, CEOs, or entrepreneurs, this study analyses the characteristics and behaviour of decision-makers.

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