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Strategic decisions and risk management

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“Strategic Decisions and Risk Management” is an international peer-reviewed journal in the field of economics, business and management, published since 2010.

The journal is a platform for interaction between scientists, experts, specialists in state administration, entrepreneurs and business practitioners to discuss various aspects of digital transformation, impact of digital technologies on the economic, management and social aspects of the activities of the state and companies, as well as risks associated with digital transformation.

 

1. Strategic managerial decisions and Decision-making process:

     ∙     Development, implementation and execution of strategic and long-term managerial decisions;

     ∙     Rational and behavioral methods and techniques in decision-making and managerial problem solving;

     ∙     Making decisions as a cognitive process. Application results of neurosciences for the decision-making process;

     ∙     Strategic managerial decisions in organizational context;

     ∙     Tools and techniques for economic rationale for managerial decision and evaluation of their implementation performance;

     ∙     Practical use of software systems supporting decision-making.

2. Strategic management and business strategies:

     ∙     Development process, implementation and execution of the strategy in business organizations;

     ∙     Strategic changes and leadership;

     ∙     Innovation, entrepreneurship and corporate entrepreneurship as strategic development factors;

     ∙     Long-term impact of the environmental, social, and governance criteria (ESG), and Sustainable Development Goals on business strategies;

     ∙     International business strategies.

3. Technological development and operational strategy:

     ∙     Technological development and its impact on business strategies and business models;

     ∙     Operational strategies: development and rationale;

     ∙     Digital business transformation strategies and implementation of the fourth industrial revolution technologies;

     ∙     Methods and techniques of development and implementation of new products and technological processes.

4. Risk management:

     ∙      Identifying and analyzing of risks when developing and implementing managerial decisions. Methods and techniques;

     ∙      Management methodology for strategic risks;

     ∙      Quantitative and qualitative methods of risk assessment.

“Strategic Decisions and Risk Management” welcomes articles from authors from different countries. Any articles submitted shall meet the standards of scientific character and uniqueness. The quality of articles is assessed through double blind peer review.

The editorial board and pool of reviewers brings together leading experts in the field of shaping development strategy and digital transformation of business, introduction of new digital technologies, risk management, public administration, economy of knowledge and innovation, representatives of government authorities and development institutions.

The journal is published four times a year. All materials are posted on the website and are available for download at the link: https://www.jsdrm.ru/jour 

The journal publishes articles in both Russian and English.

“Strategic Decisions and Risk Management” is in the updated list of peer-reviewed journals of the Higher Attestation Commission of the Ministry of Education and Science of the Russian Federation for publication of the main scientific results of theses for the degree of Doctor and Candidate of Sciences.

Every issue of the journal is fully translated into English. We accept articles free of charge.

Current issue

Vol 15, No 3 (2024)
View or download the full issue PDF (Russian)

Статьи 

214-225 134
Abstract

This study focuses on analysing the decision-making processes of Russian small and medium-sized enterprises (SMEs) when entering international markets. Key aspects of internationalisation are examined, including market selection, entry strategies and the factors that influence these decisions. Particular attention is paid to the characteristics of SMEs, such as resource constraints and limited opportunities, which affect their behaviour in international markets. Concepts of internationalisation of new international ventures (INVs) are explored, including different types of start-ups and the concept of  ‘born globals’. The role of entrepreneurial dynamism, flexibility, and motivation in overcoming competitive disadvantages against large corporations is discussed. Issues related to the impact of operating in foreign markets on knowledge accumulation and improved business efficiency, particularly under conditions and restricted access to resources, are also addressed. 

An analysis of 421 Russian SMEs revealed that the choice of internationalisation strategy is significantly influenced by factors such as the effectiveness of innovation activities and the industrial sector of the company. Despite successes in international operations, the current situation poses challenges that are leading to reduced investment in innovation. Geopolitical risks increase costs and discourage companies with a horizon-expanding strategy from exploring new markets. Decisions about external market choices are based on personal and inter-firm networks. Long-term experience in foreign markets facilitates the transition to developed country markets and promotes innovation. It is common for Russian SMEs to establish subsidiaries and branches abroad without a step-by-step approach. 

226-236 109
Abstract

In a transition economy, the issues of reforming the transport system and overcoming the exacerbating problems of industry management become relevant. It seems that technological progress and the digital transformation of business processes should simplify the algorithm of action in management matters. However, as practice shows, during this period new conditions for the functioning of the industry arise (the emergence of new modes of transport or their modification) and elements of the transport system undergo changes. A more serious problem, according to the authors, is the unpredictability of foreign partners’ behaviour in relation to exclusive rights to software (SW) used by companies in the transport and logistics sector. The purpose of the study is to develop a model for assessing the cost of the risk of a company's sudden transition to domestic software and test it on the materials of companies in the transport and logistics industry of Altai Krai. The study was conducted in the context of trends in the digital transformation of the transport system, identifying factors and types of risk, and assessing their impact on the information technology landscape (IT landscape) of transport companies in the context of sanctions. The results confirm the need to prepare industry participants homegrown software and to minimise potential risks. A sudden software replacement is more likely to cause serious financial loss to organisation than planned actions that do not disrupt business processes and communications with partners and government agencies. The practical significance of the proposed risk assessment model lies in the possibility of its application when making management decisions on the digitalisation of business processes and the transition to domestic software, regardless of the industry and size of the company. 

237-251 91
Abstract

The article considers the problem of measuring risks and threats created by the nature and charac-teristics of the human factor and affecting the efficiency and safety of activities at the micro level of the economy, in particular, in the environment of scientific and design organisations during the development of restoration projects at immovable cultural heritage sites located in St. Petersburg and the Leningrad Region. A literature review of sources covering the problem under study is carried out. The objective of the study is formulated, which consists in attempting to measure the impact of human factor risks on the efficiency of scientific and design work, and the tasks are outlined, the solution of which will allow the objective to be achieved. The study focuses on the assessment of complex damage and indirect losses, and the subject is defined as the methods for measuring the impact of these risks. The methods and tools of the planned study are defined. A number of intermediate author՚s results are obtained, clarifying the nature of the human factor, the conceptual apparatus of the topic, the classification of risks, threats and dangers that can cause significant damage to an economic entity, market activity, business reputation and brand value. Partial results were discussed and five-stage conclusions were drawn. Promising directions for further joint research have been identified by the authors of the article, which can be considered as the starting point and the beginning of the path in the systematic study of the problem of human factor hazard metrics. 

252-259 197
Abstract

This paper presents the existing methodological recommendations for assessing the climate change risks of fuel and energy companies. The classification of climate risks is presented in accordance with the most authoritative methodological recommendations for assessing climate risks - the recommendations of the Task Force on Climate-Related Financial Disclosure (TCFD). Climate risks are divided into two categories: risks associated with the effects of climate change (physical risks) and risks associated with the transition to a low greenhouse gas economy (transition risks). Physical and transition risks are described, as well as the possible consequences associated with the occurrence of the risk. Climate risks of three Russian companies representing the Fuel and Energy Complex (FEC) are considered. For each company, a description is given of the risks, both physical and transient, identified by the companies as a result of climate change and the mitigation or adaptation measures developed by the companies. Conclusions are drawn on the need to assess climate risks and take them into account when implementing the business process of managing greenhouse gas emissions in order to reduce future costs arising from the onset of climate change. 

260-269 79
Abstract

The article discusses the decision-making strategies of Russian small and medium-sized enterprises (SMEs) when entering foreign markets entry and analyses the factors and conditions that influence the effectiveness of their export activities. It focuses primarily on the analysis of internal and external factors, including sanctions restrictions, access to financial resources, production capacity, marketing skills, digital technologies, and others. Different approaches to factor and condition analysis are discussed, such as the rapid start model, the traditional market entry model, and capture and expansion strategies. It also examines methods for assessing export efficiency, both quantitative and qualitative. The result is a landscape of quality models linking factors and working conditions to the performance of Russian export-oriented SMEs, comprising four primary models, is created. 

270-279 90
Abstract

The article examines the characteristics of ECM programs, such as incrementalism and high technology, as well as the technological features IT project management that create similar characteristics. The purpose of the article is to analyse the technological features of IT project management that arise during the creation of ECM programs. The study found that waterfall and flexible approaches, fourteen techniques and four lifecycle models are used to create ECMr programs. In addition, it was found that every IT project implemented according to the waterfall life cycle model, regardless of its size, complexity, duration, type, management methods and number of team members, goes through the six phases, such as starting an IT project, determining the requirements for the created ECM program, planning, coding, testing and closing the IT project. From the results obtained, it could be concluded that the concepts and techniques for creating ECM programs, as well as lifecycle models, are necessary knowledge competencies that all participants in IT projects must possess. Inadequate possession or lack of these skills jeopardises the ability to achieve the planned project objectives, to produce a working program code and also to fulfil the obligations of the transaction. 

280-286 74
Abstract

The current stage of economic development is inconceivable without the functioning of partnerships in various forms. In the production of jewellery made of precious metals and precious stones, unions, joint ventures and subsidiaries, companies operating on a franchise basis are generally accepted world practice, explained by undoubted advantages. The presence of partners provides an opportunity to expand its presence in the highly competitive global jewellery market.  

Competition should not be seen as a factor limiting production. On the contrary, the economic essence of this category is to improve the quality of goods, expand the range of products on offer, curb price increases, increase the rate of turnover and the share of profits received. Fair competition with encourages you to look for partners. The Russian Federation is open to economic cooperation with all countries that pursue friendly policies. In the area under study, the closest cooperation has been established with the EAEU countries that have signed the relevant agreement. Despite the fact that it has not yet been possible to create a single market for jewellery products in the EAEU, examples of successful partnerships exist and are developing, confirming the hypothesis that it is possible to combine competitors with obvious benefits.