Strategic risk management in innovative metallurgical investment

Гончаренко, Людмила; Филин, С. А.; Nalesnaya, E. E.

doi:10.3103/s0967091216010046

Cited by 3 publications

(4 citation statements)

References 1 publication

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“…An interesting experience in the analysis and identification of the determining factors of the quality of steel products at the selected Polish enterprise (Czajkowska and Stasiak-Betlejewska 2016). Methods of risk reduction in work are recommended for use at metallurgical enterprises (Goncharenko et al 2016); and the development of risk management in the metallurgical industry of the Russian Federation is currently moderate against the global background, but significant in comparison to other industries in Russia. However, there is not enough work on the practical use of risk management in such an important industry for the economy as metallurgy.…”

Section: Introductionmentioning

confidence: 99%

Managing Risks in the Improved Model of Rolling Mill Loading: A Case Study

Syreyshchikova

Pimenov

Yaroslavova

et al. 2021

JRFM

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This article reflects the main sources of risks for metallurgical enterprises in Russia, presenting the implementation of an innovative approach to increasing the competitiveness of an industrial enterprise, which is a typical representative of large enterprises of the metallurgical industry, based on the development of risk-oriented thinking when loading rolling mills with orders of intersecting assortment according to a new model. To reduce the emerging risks of a new model of the loading process of rolling mills of a metallurgical enterprise, it is proposed to take into account the risks in a complex way, taking into account their interactions with the use of integrated risk management (IRM). Practical development of the implemented approach was carried out by identifying the risks of the new improved loading process and their causes at each stage of the process. Risks were identified by analysis, qualitative and quantitative assessment of the likelihood of risks and the severity of consequences from their implementation with the establishment of events with a high potential hazard. Possible causes of hazardous events have been identified. To reduce the likelihood of unfavorable events, measures have been developed to influence significant risks and their effectiveness has been determined. The development of an innovative approach using risk-based thinking in a previously unexplored field of the application provides competitive advantages for enterprises of the metallurgical industry, increases income by reducing the cost of manufacturing products and production volumes by reducing time costs, achieving an economic efficiency of up to 10 million rubles per year. The practical significance of the dissemination of development results in similar industries is obvious and relevant for metallurgy as a whole.

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Section: Introductionmentioning

confidence: 99%

Managing Risks in the Improved Model of Rolling Mill Loading: A Case Study

Syreyshchikova

Pimenov

Yaroslavova

et al. 2021

JRFM

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“…At the same time according to foreign research about 30% of organizations in Europe and in the world in the last two years have invested more than 25% of their annual budgets, allocated to risk management systems, in development and implementation of the mechanisms of identifying, analyzing, evaluating and managing "digital" risks [1,2,3,4].…”

Section: Concept Developmentmentioning

confidence: 99%

“…The formation of new types of the "digital" assets expects much more attention to be paid by owners, top managers and risk managers to the development and implementation of the new risk modeling tools. Furthermore, a higher level of interconnection between enterprises requires development of "digital" protection innovative methods both at the software, and at the level of the organizational management systems and mechanisms of the creation of organization values [3,8,9,10].…”

Section: Concept Developmentmentioning

confidence: 99%

To The Problems of Development of Possessory Risk Management Systems and the Mechanisms of Creation of Organization Values in Conditions of Digital Economy

Khachaturyan¹,

Koryagina²,

Klicheva³

et al. 2019

Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2018)

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The global economy is steadily entering a "digital" stage of its development. However, most aspects of this stage are still slowly researched. As a result, a computational power of a modern computer doubles every year since the 1970s while the maintenance cost declines at about the same rate. On the other hand, every component of the human activity today is accompanied by a digital recording. Thus, various users of information have collected more data over the past two years than in the last third of the twentieth century. The number of the interactive devices is also growing rapidly. In 2016 four billion smartphones were purchased and activated in the world in addition to the two billion in use. And all these smartphones as well as laptops, tablets, sensors and cameras create data streams of large volume -2.5 exabytes each day. The sharp change of the data amount and the increase in the digital tools number transform all aspects of social and economic life, affecting more and more areas of entrepreneurship, trade, production and services. This in turn forms the conditions in which organization management systems and consequently the mechanisms of value creation of organizations are experiencing their own digital revolution, which has a significant impact on functioning processes and effectiveness of risk management. It is important to note that according to our estimates, which are given further in the article, now 70% of Russian organizations have only an approximate understanding of the nature and the content of the "digital" risks that may accompany their activity in the future, in turn, only 10% Russian organizations have formed mechanisms for digital risks management within their management systems. Another 20% of Russian organizations have no idea about "digital" economy and the risks connected with its formation. This article is devoted to the analysis of main types of risks connected with the "digital" economy formation and the logic of transformations implementation in possessory risks management systems as well as mechanisms of value creation of the organizations in the context of the "digital" era.

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“…Such systems result from vertical specialization among executive officials who:  being in contact with technology and markets are normally capable of formulating product and market strategies;  ensure the general course of activity, select government officials to be in charge of strategy and manage their behavior by changing the magnitude and structure of incentives;  have a better understanding of operational environment at the low operational level of state management and, at the same time, better meet requirements specified for government servants [4,5,6]. It is important to note that these three layers of state strategic management constitute a system where a decision is processed in such a way that the state governance system as a whole constantly changes in accordance with the defined goal.…”

Section: Methodsmentioning

confidence: 99%

Peculiarities of Organizational Economic Mechanism Development in correspondence with State Strategic Management in Russia

Гончаренко¹,

Sybachin²,

Khachaturyan³

2017

Proceedings of the International Conference on Trends of Technologies and Innovations in Economic and Social Studies 2017

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-In modern conditions, development of the organizational economic mechanism of state strategic management is a key element for ensuring sustainable development of Russia in the conditions of limited resources. The article considers basic approaches to the specific features of development of the organizational economic mechanism of state strategic management, formulates scientific approaches to the analysis of this state management mechanism and studies statistical materials which allow the authors to formulate their understanding of the issues related to the development of the organizational economic mechanism of strategic management in the structure of the state management system of Russia. Based on the conducted analysis, the authors draw their own conclusions regarding the directions for improvement and development of the organizational economic mechanism of strategic management in the state management system of Russia. The article presents the authors' own views on the strategic management structure in the state management system. Based on the analysis carried out in the article, some conclusions are formulated regarding the specific features of development of the organizational economic mechanism of strategic management in the state management system of Russia.

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Strategic risk management in innovative metallurgical investment

Cited by 3 publications

References 1 publication

Managing Risks in the Improved Model of Rolling Mill Loading: A Case Study

Managing Risks in the Improved Model of Rolling Mill Loading: A Case Study

To The Problems of Development of Possessory Risk Management Systems and the Mechanisms of Creation of Organization Values in Conditions of Digital Economy

Peculiarities of Organizational Economic Mechanism Development in correspondence with State Strategic Management in Russia

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