How to Manage Companies in the Digital Age Strategic Management Prospects
Main Article Content
Keywords
digital economy, digital transformation of companies, strategic management, Russian companies, prospects of strategic management
Abstract
The period of high expectations of digital transformation benefits is followed by a period of discussion on strategies and methods for managing digital changes. Not only the rapid development of technology, but also the turbulence of the external environment contribute to the view that traditional approaches to strategic management of the company are irrelevant. Understanding the need to modify classic strategic management methods actualises the task of developing new methodological fundamentals for strategic management. The initial stage of solving this problem is the analysis of the current state of research in this area. This study analyses the Russian research community viewpoints on the prospects of companies' strategic management regarding the digital economy status quo and trends in Russia.
This paper answers the following research questions. What impact does the digital economy environment of Russian companies have on their management systems and what are the prerequisites for changing approaches and mechanisms of strategic management? How do the basic strategic management approaches differ for companies with different experiences, capabilities, and expectations of digital transformation?
The key managerial prospects of the study concern the benefits of various strategic management approaches for companies with different backgrounds, capabilities, and expectations of digital transformation.
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References
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Komkov, N., & Kulak, G. (2018) Technological Innovations: Development, Application and Results. Studies on Russian Economic Development, 29(5), 558–572. http://dx.doi.org/10.1134/S1075700718050064
KPMG. (2019). Digital technologies in Russian companies. Research results. KPMG. Available at https://home.kpmg/ru/ru/home/insights/2019/01/digital-technologies-in-russian-companies-survey.html
Krause, I. (2019). Coworking Space: A Window to the Future of Work? Foresight and STI Governance, 13(2), 52–60. http://dx.doi.org/10.17323/2500-2597.2019.2.52.60
Kryuchkov, V. (2017). The nature of fundamental similarity of scenario management, forecasting and strategic management. International Journal of Management theory and practice, 12, 92–96. Available at https://elibrary.ru/item.asp?id=32237020
Kuzin, D. (2016). Dichotomies in scenario management. International Journal of Management theory and practice, 10, 130–136. Available at https://elibrary.ru/item.asp?id=27180199
Litvinenko, V., & Sergeev, B. (2019). Innovations as a Factor in the Development of the Natural Resources Sector. Studies on Russian Economic Development, 30(6), 637. http://dx.doi.org/10.1134/S107570071906011X
Lola, I., & Bakeev, M. (2020). Assessment of digital activity level of Russia’s retail trade organizations. Moscow University Economic Bulletin, 2, 161–180. https://doi.org/10.38050/01300105202029
Lola, I., & Bakeev, M. (2019). Digital Transformation in the Manufacturing Industries of Russia: an Analysis of the Business Tendencies Observations Results. St Petersburg University Journal of Economic Studies, 35(4), 628–665. https://doi.org/10.21638/spbu05.2019.407
Markova, М., & Kuznetsova, S. (2019). Digital Economy and the Evolution of Strategic Management. Tomsk State University Journal of Economics, 48, 217–232. http://doi.org/10.17223/19988648/48/15
Marshev, V. (2016). Scenario management: origins, fundaments and trends of development. International Journal of Management theory and practice, 10, 95–101. Available at https://elibrary.ru/item.asp?id=27180193
Ministry of Digital Development. (2017). National program "Digital economy of the Russian Federation". Available at https://digital.gov.ru/ru/activity/directions/858/.
Ministry of Digital Development. (2021). Grant support for projects on the development and implementation of digital solutions. Ministry of Digital Development. Available at https://digital.gov.ru/ru/activity/directions/946/
Nikishova, M. (2018). The Role of the Board of Directors in Digital Business Transformation. Economics and Management. 10, 80–87. Available at https://www.elibrary.ru/item.asp?id=36791189
Nissen, V., Lezina, T., & Saltan, A. (2018). The Role of IT-Management in the Digital Transformation of Russian Companies. Foresight and STI Governance, 12(3), 53–61. http://dx.doi.org/10.17323/2500-2597.2018.3.53.61
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Orekhova, S., & Misyura, A. (2020). Business Model’s transformation and increasing results of a high-tech company. Bulletin of Chelyabinsk State University, 6(440), Economic Sciences. Issue 69, 75—85. https://doi.org/10.47475/1994-2796-2020-10609
Polunin, Yu., & Yudanov, A. (2020). Growth Rates of Companies and Filling of a Market Niche. Russian Management Journal, 31(2), 202–211. http://dx.doi.org/10.1134/S1075700720020094
Revenko, N. (2018). Global Trends in the Digital Transformation of Mining and Metals Industry. Information Society, 4–5, 76–83. Available at http://infosoc.iis.ru/article/view/443
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Rowe, F. (2014). What literature review is not: diversity, boundaries, and recommendations. European Journal of Information Systems, 23(3), 241–255. https://doi.org/10.1057/ejis.2014.7
Skripkin, K. (2019). Digitalization of the economy: content and main trends. Moscow University Economic Bulletin, 6, 167–187. http://dx.doi.org/10.38050/013001052019612
Stoianova, O., Lezina, T., & Ivanova, V. (2020). The framework for assessing company’s digital transformation readiness. St Petersburg University Journal of Economic Studies, 36(2), 243–265. https://doi.org/10.21638/spbu05.2020.204
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Vaisman, E., Nikiforova, N., & Nosova, S. (2019). The Concept of Weak Market Signals in Strategic Management at an Industrial Enterprise. Bulletin of the South Ural State University. Series Economics and Management, 13(3), 145–153. http://dx.doi.org/10.14529/em190314
Zatsarinny, A., Ilyin, N., & Kolin, K. (2017). Situational Centers of the Development in Polysubject Environment. Control Sciences, 5, 31–43. Available at http://pu.mtas.ru/archive/Zatsarinny_517.pdf
Zemtsov, S., Barinova, V., & Semenova, R. (2019). The Risks of Digitalization and the Adaptation of Regional Labor Markets in Russia. Foresight and STI Governance, 13(2), 84–96. http://dx.doi.org/10.17323/2500-2597.2019.2.84.96
Zhuravlyov, V., & Varkova, N. (2018). Improvement of the Strategic Management Model of Russian Gold-Mining Enterprises Under Conditions of Unstable Economic Development. Bulletin of the South Ural State University. Series Economics and Management, 12(2), 145–154. http://dx.doi.org/10.14529/em180217
Zhuravlyov, V., Varkova, N., & Zhuravlyov, N. (2020). Improvement of Strategic Management of Sustainable Development Yakutia Coal Mining Companies on the Basis of Integration of Mechanisms for Decision-Making and Eco-Economic Business Evaluation. Part 1. Bulletin of the South Ural State University. Series Economics and Management, 14(2), 145–157. http://dx.doi.org/10.14529/em200214
Accounts Chamber of the Russian Federation. (2021). Federal budget in the context of national projects for 2021. Available at https://spending.gov.ru/budget/np/?year=2021
Ananyin, V., Zimin, K., Lugachev, M., Gimranov, R. D., & Skriprin K. G. (2018). Digital organization: Transformation into the new reality. Business Informatics, 2(44), 45–54. https://doi.org/10.17323/1998-0663.2018.2.45.54
Ananyin, V., Zimin, K., Gimranov, R., Lugachev, M., & Skripkin, K. (2019). Real Time Enterprise Management in the Digitalization Era. Business Informatics, 13(1). 7–17. http://dx.doi.org/10.17323/1998-0663.2019.1.7.17
Aturin, V., Moga, I., & Smagulova, S. (2020). Digital transformation management: Scientific approaches and economic policy. The Manager, 11(2), 67–76. https://doi.org/10.29141/2218-5003-2020-11-2-6
Bauer, V., Zatsarinny, A., & Ilyin, N. (2018). Disruptive situational control. Control Sciences, 5, 31–49. https://doi.org/10.25728/pu.2018.5.4
Bek, N., & Gadzhaeva, L. (2018). Open Innovation Business Models and Open Strategies: Features, Challenges, Development Prospects. Moscow University Economic Bulletin, 18(1), 140–159. https://doi.org/10.38050/01300105201818
Bratchenko, S. (2017). Scenario management: genesis and prospects. International journal of Management theory and practice, 10, 97–100. Available at https://elibrary.ru/item.asp?id=32237021.
Choy, B. (2020). Random Interaction Effect of Digital Transformation on General Price Level and Economic Growth. Foresight and STI Governance, 14(1), 29–47. http://doi.org/10.17323/2500-2597.2020.1.29.47
Collection of Laws. (2017). Strategy of information society development in the Russian Federation for 2017-2030. Collection of Laws of the Russian Federation, 2017, no. 20, art. 290. Available at http://www.kremlin.ru/acts/bank/41919
Eskindarov, M., Maslennikov, V., Abramova, M., Lavrushin, O., Goncharenko, L., Solyannikova, S., Abdikeev, N., & Morkovkin, D. (2017). The CSR Strategy For 2018-2024: Slogans, Myths and Reality (Expert Opinion Of Financial University). Bulletin of the Financial university, 21(3), 6–25. https://doi.org/10.26794/2587-5671-2017-21-3-6-24
Finam. (2021). About 40% of the Russian economy will undergo digital transformation. Finam. Available at https://digital.gov.ru/ru/events/40870/
Ganichev, N., & Koshovets, J. (2019). Integrating Russia into the Global Project of Digital Transformation: Opportunities, Problems and Risks. Studies on Russian Economic Development. 30(6), 627. http://dx.doi.org/10.1134/S1075700719060030
Götz, M. (2019). The Industry 4.0 induced agility and new skills in clusters. Foresight and STI Governance, 13(2), 72–83. https://doi.org/10.17323/2500-2597.2019.2.72.83
Henriques, D., Pereira, R., Almeida R., & Mira da Silva, M. (2020). IT Governance Enablers. Foresight and STI Governance, 14(1), 48–59. http://dx.doi.org/10.17323/2500-2597.2020.1.48.59
IMD. (2019). World competitiveness ranking 2021. IMD. Available at https://www.imd.org/research-knowledge/reports/imd-world-digital-competitiveness-ranking-2019/
IMD. (2021). World competitiveness ranking 2021. IMD. Available at https://worldcompetitiveness.imd.org/countryprofile/overview/RU
Kabalina, V., Makarova, A., & Reshetnikova, K. (2020). Motivating employees to acquire digital skills. Russian Management Journal, 18(3), 411–432. http://dx.doi.org/10.21638/spbu18.2020.306
Kergroach, S. (2017). Industry 4.0: New Challenges and Opportunities for the Labour Market. Foresight and STI Governance, 11(4), 6–8. http://doi.org/10.17323/2500-2597.2017.4.6.8
KMDA. (2020). Analytical report: Digital Transformation in Russia - 2020. Available at https://komanda-a.pro/projects/dtr_2020
Kochetkov, E. (2019) Digital transformation of economy and technological revolutions: Challenges for the current paradigm of management and crisis management. Strategic Decisions and Risk Management, 10(4), 330–341. https://doi.org/10.17747/2618-947X-2019-4-330-341
Komkov, N., & Kulak, G. (2018) Technological Innovations: Development, Application and Results. Studies on Russian Economic Development, 29(5), 558–572. http://dx.doi.org/10.1134/S1075700718050064
KPMG. (2019). Digital technologies in Russian companies. Research results. KPMG. Available at https://home.kpmg/ru/ru/home/insights/2019/01/digital-technologies-in-russian-companies-survey.html
Krause, I. (2019). Coworking Space: A Window to the Future of Work? Foresight and STI Governance, 13(2), 52–60. http://dx.doi.org/10.17323/2500-2597.2019.2.52.60
Kryuchkov, V. (2017). The nature of fundamental similarity of scenario management, forecasting and strategic management. International Journal of Management theory and practice, 12, 92–96. Available at https://elibrary.ru/item.asp?id=32237020
Kuzin, D. (2016). Dichotomies in scenario management. International Journal of Management theory and practice, 10, 130–136. Available at https://elibrary.ru/item.asp?id=27180199
Litvinenko, V., & Sergeev, B. (2019). Innovations as a Factor in the Development of the Natural Resources Sector. Studies on Russian Economic Development, 30(6), 637. http://dx.doi.org/10.1134/S107570071906011X
Lola, I., & Bakeev, M. (2020). Assessment of digital activity level of Russia’s retail trade organizations. Moscow University Economic Bulletin, 2, 161–180. https://doi.org/10.38050/01300105202029
Lola, I., & Bakeev, M. (2019). Digital Transformation in the Manufacturing Industries of Russia: an Analysis of the Business Tendencies Observations Results. St Petersburg University Journal of Economic Studies, 35(4), 628–665. https://doi.org/10.21638/spbu05.2019.407
Markova, М., & Kuznetsova, S. (2019). Digital Economy and the Evolution of Strategic Management. Tomsk State University Journal of Economics, 48, 217–232. http://doi.org/10.17223/19988648/48/15
Marshev, V. (2016). Scenario management: origins, fundaments and trends of development. International Journal of Management theory and practice, 10, 95–101. Available at https://elibrary.ru/item.asp?id=27180193
Ministry of Digital Development. (2017). National program "Digital economy of the Russian Federation". Available at https://digital.gov.ru/ru/activity/directions/858/.
Ministry of Digital Development. (2021). Grant support for projects on the development and implementation of digital solutions. Ministry of Digital Development. Available at https://digital.gov.ru/ru/activity/directions/946/
Nikishova, M. (2018). The Role of the Board of Directors in Digital Business Transformation. Economics and Management. 10, 80–87. Available at https://www.elibrary.ru/item.asp?id=36791189
Nissen, V., Lezina, T., & Saltan, A. (2018). The Role of IT-Management in the Digital Transformation of Russian Companies. Foresight and STI Governance, 12(3), 53–61. http://dx.doi.org/10.17323/2500-2597.2018.3.53.61
NRI. (2021). Network Readiness Index 2021. Benchmarking the Future of the Network Economy. Available at https://networkreadinessindex.org/countries/
Orekhova, S. (2016). Institutional choice factors of a resource strategy for firms. Journal of Institutional Studies, 8(4), 106–122. https://doi.org/10.17835/2076-6297.2016.8.4.106-122
Orekhova, S., & Misyura, A. (2020). Business Model’s transformation and increasing results of a high-tech company. Bulletin of Chelyabinsk State University, 6(440), Economic Sciences. Issue 69, 75—85. https://doi.org/10.47475/1994-2796-2020-10609
Polunin, Yu., & Yudanov, A. (2020). Growth Rates of Companies and Filling of a Market Niche. Russian Management Journal, 31(2), 202–211. http://dx.doi.org/10.1134/S1075700720020094
Revenko, N. (2018). Global Trends in the Digital Transformation of Mining and Metals Industry. Information Society, 4–5, 76–83. Available at http://infosoc.iis.ru/article/view/443
RFRIT. (2022). Small and Medium Business Digitization Support Program. Russian Foundation for the Development of Information Technologies. Available at https://рфрит.рф/msp
Rowe, F. (2014). What literature review is not: diversity, boundaries, and recommendations. European Journal of Information Systems, 23(3), 241–255. https://doi.org/10.1057/ejis.2014.7
Skripkin, K. (2019). Digitalization of the economy: content and main trends. Moscow University Economic Bulletin, 6, 167–187. http://dx.doi.org/10.38050/013001052019612
Stoianova, O., Lezina, T., & Ivanova, V. (2020). The framework for assessing company’s digital transformation readiness. St Petersburg University Journal of Economic Studies, 36(2), 243–265. https://doi.org/10.21638/spbu05.2020.204
Tadviser. (2022). Digital Economy of Russia Available at https://tadviser.com/index.php/Article:Digital_Economy_of_Russia.
The Russian Government (2021). About conducting an experiment on digital transformation provision of services, support measures and services for the development of small and medium-sized businesses. The Russian Government. Available at http://government.ru/news/44249/#
UN. (2020). United Nations e-government survey 2020. Digital Government in the Decade of Action For Sustainable Development. UN. Available at https://publicadministration.un.org/egovkb/Portals/egovkb/Documents/un/2020-Survey/2020%20UN%20E-Government%20Survey%20(Full%20Report).pdf
Vaisman, E., Nikiforova, N., & Nosova, S. (2019). The Concept of Weak Market Signals in Strategic Management at an Industrial Enterprise. Bulletin of the South Ural State University. Series Economics and Management, 13(3), 145–153. http://dx.doi.org/10.14529/em190314
Zatsarinny, A., Ilyin, N., & Kolin, K. (2017). Situational Centers of the Development in Polysubject Environment. Control Sciences, 5, 31–43. Available at http://pu.mtas.ru/archive/Zatsarinny_517.pdf
Zemtsov, S., Barinova, V., & Semenova, R. (2019). The Risks of Digitalization and the Adaptation of Regional Labor Markets in Russia. Foresight and STI Governance, 13(2), 84–96. http://dx.doi.org/10.17323/2500-2597.2019.2.84.96
Zhuravlyov, V., & Varkova, N. (2018). Improvement of the Strategic Management Model of Russian Gold-Mining Enterprises Under Conditions of Unstable Economic Development. Bulletin of the South Ural State University. Series Economics and Management, 12(2), 145–154. http://dx.doi.org/10.14529/em180217
Zhuravlyov, V., Varkova, N., & Zhuravlyov, N. (2020). Improvement of Strategic Management of Sustainable Development Yakutia Coal Mining Companies on the Basis of Integration of Mechanisms for Decision-Making and Eco-Economic Business Evaluation. Part 1. Bulletin of the South Ural State University. Series Economics and Management, 14(2), 145–157. http://dx.doi.org/10.14529/em200214
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Published
Jun 10, 2022
Article Details
How to Cite
Stoianova, O., Lezina, T., & Ivanova, V. (2022). How to Manage Companies in the Digital Age: Strategic Management Prospects. Journal of Telecommunications and the Digital Economy, 10(2), 6–25. https://doi.org/10.18080/jtde.v10n2.498
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Special Issue: Digital Technologies and Innovation
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Author Biographies
Olga Stoianova, Saint Petersburg State University
Dr. Sci. in Technics, Professor, Department of Information Systems in Economics
Tatiana Lezina, National Research University Higher School of Economics
PhD in Physics and Mathematics, Associate Professor, Department of Economics
Victoriia Ivanova, Saint Petersburg State University
PhD in Economics, Associate Professor, Department of Information Systems in Economics
