Value-Based Management for Russian Industrial Enterprises in the Conditions of High Economic Volatility

Relevance. Value-Based Management is a modern effective management concept, widespread in the West companies. It’s implementation attempts at Russian industrial enterprises face top maagement the problem of the lack of sufficient research in the field of Value-based management practical application in conditions of Russian economy, which has been characterized by a high level of volatility in recent years. In addition, the specialized literature does not always correctly present the translation and interpretation of economic terms that leads to further errors in their use.

Some economic categories of Value-Based Management are clarified in this study, and also the system of value factors for Russian industrial enterprise is presented. The proposed system fully reflects the current market realities of the Russian economy.

The purpose is development of the Value-Based Management theoretical base and addition of a methodological approach to Value-Based Management implementation in Russian industrial enterprises.

Objectives: clarification of some economic categories of Value-Based Management; compilation of the most complete list of factors affecting the value of an industrial enterprise in the Russian Federation; development of the industrial enterprise mathematical model, that is based on the proposed system of value factors.

Methodology. Method of expert assessments, system analysis, and mathematical modeling were used in the study.

Results. The system of value factors for Russian industrial enterprise has been developed and proposed. It is relevant in conditions of high economic volatility. Modeling of the radio-electronic industry enterprise, which is part of the state corporation, was carried out. Based on the modeling results, the factors that have the greatest impact on the enterprise activities, and the factors that are subject to maximum influence (they are risk factors for this company) for this enterprise, are identified, recommendations are given.

Conclusions. The proposed value factors system can be used in strategic or operational planning of any Russian industrial enterprise. That will make possible to make adjustments to the development strategy, increasing the efficiency of managerial decisions within the framework of Value-Based Management.

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