Journal archive
Strategy and tactics |
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A business' competitiveness level is determined by the business' competitive potential, and the factors that contribute to the changes in the potential include not only the industrial capacity, product range and quality but also the business management system characteristics. The article author examines the businesses' competitiveness level changes. He sees a company management system change as a factor that influences the businesses' competitive potential change. He also examines what role the fitness-for-purpose principle plays on difference business lifecycle stages. The article author makes a conclusion that the modern business' institutional change is largely stochastic and uncertain as far as the information delivery is concerned. The author states that the mathematical component of the system theory should be used in order to thoroughly examine the phenomena. The concept of uneven distribution of structures described by the system theory helps describe the lifecycle change process using the terms and definitions used in the probability theory.
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The Russian banks have not been paying enough attention to the retail payment services segment while having low expenditure and getting good income from loan business and operations with the Russian Central Bank. Now that they are suffering from the crisis, the banks' income from investment and loan business has plummeted, and they have to look for other income sources. It is appropriate to mention here that one of the basic bank's functions is to be an intermediary in payment-making activity, including the operations made by the individuals. The international experience shows that the income from such kind of operations has always been similar to the interest income. The author argues that it is time for the banks to enter the market segment. Nevertheless, it turns out the market segment is already successfully occupied by other players proceeding from the non-bank market segment. The banks are now beginning to address the legislators to change the market situation. The article author thinks the Bank of Russia as a state representative regulating the market operations should create the same business opportunities for all the stakeholders to play on the market, put an end to the overregulation of banks' operations and set certain requirements for the non-bank organizations to meet, that is, the registration requirements, the equity capital requirements, the risk management requirements, etc.
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Despite the fact that the information transparency is one of the many aspects of the corporate management system, it is the most important one among the factors that contribute to the investor confidence level change that determines the dynamics of the company attractiveness level. The information transparency is an important factor that contributes to the company competitiveness level change. The investors are to be sure that the information the company provides is full, accurate and reliable. The article author's goal is to determine the way the information transparency influences the company ordinary shares' value. The value change, in its turn, contributes to the change in the competitiveness level of a company that is present on the capital market. The article is aimed at institutional investors, top managers, and investment analysts.
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The issues of theory |
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Modern researchers have not elaborated a unified approach towards the terms competitive position and a business' competitive position yet. The term competitive position is rather often seen as a marketing term and is interpreted in the same way as a marketing position. The article author describes here his position and states that the interpretation is erroneous.
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The world economy is on the verge of a new wave of the technology change. After the changes have occurred, the human capital would play a much more important role in the social and economic development and make redundant many of the factors that have been traditionally contributing to the economic growth. The authors of the recent annual report published by the World Economic Forum consider the HR development as one of the fundamental groups of factors that contribute to the national economy competitiveness level change. The Russian economists have begun thoroughly examining the role the human resources play in the economy only recently, and the human capital is a factor that determines the competitiveness-related ratings in the post-industrial economies.
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Competitive Russia |
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John Maynard Keynes' book The General Theory of Employment, Interest and Money appeared as a follow-up to the preceding research that was done in order to help people fight with the aftermath of the economic crisis of the 1920-s and 30-s that had affected all the developed capitalist countries. Can the modern scientific community use the experience gained and the great economists' heritage in order to analyze the reasons why the world financial crisis has occurred and can they offer an efficient tool to be used to find a way out of the situation?
The editorial board publishes here an article where Georgy Kleiner describes his view of the issue.
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The Russian economy is rather well-integrated into the world economy. This is why the Russian economy has both the advantages and the serious disadvantages when it comes to the Russian national economy development. Russia cannot help being affected by the aftermath of the financial crisis the world is suffering from.
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Collusive agreement and tacit collusion problem is one of the most complex issues that both the legal professionals who deal with the competitive businesses and the antimonopoly officials face both in Russia and in all the countries of the world. How should we assess the achievements made by the RF Federal Antimonopoly Service? What should we do to put an end to the cartel agreement and tacit agreement-making practices? These were the issues discussed during a roundtable dis¬cussion organized by the Institute for Modern Development. The roundtable discussion title theme was The Collusive Agreements and the Tacit Collusion. Economists, legal professionals (including the practitioners who operate as defense counselors), executive bodies' and large businesses' representatives took part in the work during the discussion. The discussion was dedicated to the tacit agreement-making countering measures and the Russian antimonopoly policy elaboration issues. The discussion results can be of interest and of help to the economists who specialize in dealing with a wide range of economic issues.
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Today the issues associated with the current financial crisis beginning point and the issues that concern the possible way out of it are discussed by various groups of people. The audiences who participate in the discussion range from the politicians and financial analysts to the academic community and the rank-an-file people. The politicians and analysts see eye to eye with one another as far as the reasons why it all has begun and the identification of the crisis stages we have lived through are concerned. They do not share the same opinion when it comes to the crisis countering measures and the crisis development forecast. Some experts say that the crisis is merely a part of the economic development evolutionary process which is quite natural while others are sure that the current crisis is a «man-made product», it is not a part of the natural development process, and it has nothing to do with the world economic development scheme. Mr. Zubov's viewpoint of the issue is published here by the editorial board.
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The world economic crisis has affected the USA and the European countries and it has now affected Russia. One should have been ready for the development of this scenario. Have all the opportunities been used to prepare the necessary steps to confront the crisis in this country? Are the measures taken efficient enough and are there the necessary reserves in place to be used as appropriate? Such topics as the probability of a new wave of crisis, the prospects of a future collecting agency that would collect the bad debts, the appropriateness of such measures as the excessive ready assets offerings to banks and many other topics are being lively discussed by the wide public.
The editorial board has asked Mr. Murychev to share his point of view with us and give his professional assessment of the current developments.
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Separate opinion |
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The market is traditionally seen by the public as a scene where the private property is clearly domineering and where the private businesses are enjoying the real freedom. The article author enters the hot debate and describes the problems that are faced by the players who operate on the Russian market where the system-forming core of the forcefully established social relations is a thick bureaucratic layer whose members are well-protected and act as a self-governing omnipotent force. According to the author, it is impossible to change the situation for the better unless a new generation of people that would want to serve the Motherland and not themselves and their inner circle comes to power.
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The article describes the comparative analysis results of today's international best practices elaborated by various governmental bodies for the regional competitiveness level improvement. The author tries to identify the productive components of the state bodies' managerial activity that can be used in Russia on the federal and regional scale. The components identified include the following: the development and implementation of the national industries' competitiveness level improvement state policy (strategy); identification by the state bodies of the new strategic competitiveness level management zones; cluster principle use in the business building; pilot projects in using various forms of partnerships-based cooperation between private entities and state bodies that should assist the companies in technology development and in using innovations.
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The article authors provide the empirical data they have gathered while analyzing the corporate management characteristics in privately owned companies operating on a mixed property basis. They also have examined whether the state-owned companies contribute to the regional businesses' operational efficiency improvement if they have a share in the companies' property and participate in managing the companies. The data analyzed include the information that pertains to 93 stock companies that operated in the Urals region within the period of 2004 - 2007. The state-owned companies are now largely involved in managing the corporate property in the Rus¬sian regions where the share of state property in the property owned by the privately owned busi¬nesses is still high. The state owned companies set the standards of corporate management for the companies operating on the mixed property basis. The article authors indicate that the state owned companies that have a share in the businesses' property affect the businesses' efficiency levels but the state officials who become members of the privately owned businesses' boards of directors provide additional guarantees to the private property owners and this is an advantage for a company that operates on the financial markets. The article authors' main goal is to identify the role the state bodies that have a share and take part in the management of the Russian privately owned companies play in business. Their additional objective was to identify whether a partnership between the privately owned and state bodies can affect the businesses' operational efficiency and the competitiveness level. The research findings can be of interest to the big businesses' and medium enterprises' top managers and owners, state regulatory bodies' staff who elaborate stock market and corporate management regulations, Russian business analysts and to all those who are interested in knowing more about the corporate government.
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