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2MODERN EUROPEAN RESEARCHES
FEATURES OF PROGRESS OF RUSSIAN CORPORATE FORMATION IN CONDITIONS OF VOLATILE MACROECONOMIC ENVIRONMENT
Abstract
The features of Russian corporate formation progress in the sphere of constantly amplifying influence of world economy globalization and features of its cyclic development are becoming more and more important nowadays. The theory of business cycles significantly dominates in studying of progress processes. The base of the theory is the fundamental law of the investment theory of cycles: laws of investment define phases of industrial cycle. According to the authors, topical issue is studying of corporate formation in conditions of cyclically active environment, within coordination of forward economic development of corporate formation with cycles of global economy progress by means of formation of corporate policy of cyclic fluctuations evening-out.
Keywords
business cycle, corporate formation, crisis, investments, public administration
In recent years, the special attention is paid to features of progress of corporate formation in the sphere of constantly amplifying influence of world economy globalization of and features of its cyclic development. The theory of business cycles significantly dominates in studying of progress processes. M.I. Tugan-Baranovskiy was the first, who formulated the fundamental law of the investment theory of cycles: laws of investment define phases of industrial cycle. The violation of economic activity rhythm, provoking crisis phenomena in economic systems (which in turn arise because of violation, and often, because of absence of the principle of parallelism in markets of different spheres during intensive positive development of economy), is caused by disproportions between savings and investments, caused by violations of proportionality of price movement on capital benefits and consumer goods.
Within this direction, in the first half of the XX century, the Russian economist N.D. Kondratyev proved that in the long-term perspective (about 50 years) there is quite steady cyclic regularity. With this statement, N.D. Kondratyev added M.I. Tugan-Baranovsky's postulates. He defined that in an upward phase of a business cycle rather prompt warming up of economy surely leads society to inevitable changes, which opportunities often seriously lag behind requirements of economic system of the specified society. As a result, development of economic system passes into a bearish phase. The bearish phase of a business cycle is that crisis catalyst, which stimulates reorganization of economic relations, aiming at the transferring economy in an upward phase.
A number of researchers of business cycles (such as Tugan-Baranovskiy, Wicksell, Spiethoff, Fischer, Schumpeter, Mises, Kondratyev) developed theoretical and practical
AUTHORS
Nikolay Shumskiy
PhD in Economics, Associate Professor at the chair of Marketing and Business Management Kuban State Technical University Krasnodar nikshum@maH.ru
Mikhail Shchepakin
PhD in Economics, professor, dean of Economics, Management and Business Department Kuban State Technical University Krasnodar
theses for creation of an effective control system of cyclic development. It is possible to single out two global directions:
1) adequate and system planning of progress of state regulation of economy, promoting evening-out of amplitudes of cyclic fluctuations. Exactly during recession period, the state pursues policy of activation of economic processes; during overheating period, it seek to constrain business activity.
2) adaptive management of progress of corporate formation, taking into account amplitude of cyclic fluctuations of economic system.
The most topical issue for us is studying progress of corporate formations in conditions of cyclically active environment and, more exact, the way economic progress of corporate formation coordinates with cycles of global economy by means of formation of corporate policy of cyclic fluctuations evening-out.
Within the considered direction, the extremely interesting feature of Tugan-Baranovskiy's theory is that the general reduction of new enterprises number inev'tably causes violation of proportionality in the sphere of distribution of productive forces. New enterprises create expanded demand for both production goods and consumer goods (phenomenon, connected with action of multiplier). This fact influences on balance between cumulative demand and cumulative offer and breaks it. From this it follows that with reduction of a number of new enterprises, both branches of industry, delivering consumer goods and delivering means of production, experience demand reduction. Also, it should be noted that M.I. Tugan-Baranovsky assigned a special role to loan capital in the course of cyclic fluctuations of economy. He noted that increase of loan percent is a sure sign of that it is not enough spare loan capital in the country for needs of industry. This thesis allowed him to conclude that immediate cause of crises is not a surplus of loan capital, but a lack of loan capital.
Thus, based on the aforesaid, it is possible to show dependences between progress cycles and number of really functioning enterprises/corporate formations in separately taken economic system both on regional/state and world level. Here we allocate the following factors defining impact on recurrence of progress:
- globalization of economy, and as a result, trance nationalization of business cycles;
- formation of "leaders" and "conducted" economic systems within business cycles;
- non-uniform structure of reasons and consequences of a business cycle for its participants;
- need for creation of the vertically integrated global control system of business cycles.
Certainly, the most important problem of effective system of public and municipal administration is formation of the global vertically integrated control system of business cycles, which would cover all levels of state and municipal management and consider a condition of business environment. If to speak directly about the vertically integrated control system of business cycles, it is based on two key "pillars":
1) vertical hierarchy, which is based on system of public administration and includes necessary interactions between all levels of power within effective management of economic cycles;
2) integrated component, which assumes complex interaction with key organizations, communities or participants of the corporate (business) environment within formation of the practical mechanism of management of business cycles.
We pay special attention to complex interaction with market key players. The key participants of market relations in many respects determine amplitudes of cyclic fluctuations of economic system at the branch and regional levels, and as a result, their activity is defining one in the course of formation of business cycles.
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MODERN EUROPEAN RESEARCHES
Within the interaction, we seem process of creation of the integrated component of control system of economic cycles in development and creation of unified analytical models of management of organizational-economic processes in company on centers and responsibility points (controlling points) with function of concentration of information at the top step of analytical ladder (pyramid) which predominating representative would be included into advisory council of branch, which head would represent a position of branch in advisory council of the region. As a result, the head of advisory council of the region would represent its interests at the nation-wide level.
Thus, the structure is ideal for large participants of market/branch, who define rules of game on it. There are the analytical divisions, specialized on feature of their productive and economic cycle; both preparing operational analytical information for heads of data of divisions and having opportunity to create information for advisory council of branch or the region.
Basis of the organization of the above analytical processes in the companies (key players of branch) is use of multicomponent models. The models are organic continuation of one-component models (include one level of analytical responsibility, assuming the analysis of macro-indicators of company's activity), and bring analytical processes to qualitatively new level both on analysis depth and management susceptibility degree to the received results.
Multicomponent models of analytical processes organization of company are based on an assessment of all range of analytical indicators with carrying out the deep factorial analysis. The model allows to investigate analytically all components of internal and external environment on both micro-external and macro-external level. Here we used definition of micro-external and macro-external environment of the key participant of market not incidentally. The model of organization of analytical processes for the essence has to be directed on both research of macroeconomic parameters of environment, surrounding company economic, political, natural, legal, etc. environment, and studying of all next surrounding of direct (local) business environment of functioning of market participant. Here the key elements of analytical model are the following: adaptive developed analytical tools; clear understanding of necessary analytical work for economic efficiency of company functioning at this stage of its development; interaction with branch partners for the purpose of formation of an overall picture of economic processes at current stage of economical progress.
Thus, it is possible to note that formation of an analytical control system of forecasting and management of business cycles demands rather laborious and system work with all key players of the market, which economic development has the defining character for branches of their functioning.
As a result, the state represented by profile ministries and departments has to initiate process of formation of the described analytical structure, which will assume the above functions. Perhaps, this process can take place under the auspices of the Russian Union of Industrialists and Entrepreneurs which being the all-Russian organization, which represents interests of business community both in Russia and at the international level. The Union includes more than hundred branch and regional associations, representing key sectors of economy: energy industry, mechanical engineering, investment-bank sphere, military-industry complex, construction, chemical production, light and food industry, human services.
Respectively the huge resource of the Union within the studied question is in possibility of implementation of the project on thousands of the largest Russian companies - representatives of industrial, scientific, financial and commercial organizations in all regions of Russia. The main objective of the Union is consolidation of efforts of industrialists and businessmen of Russia directed on improvement of business environment, increase of the status of the Russian business in the country and in the
world, maintenance of balance of interests of society, government and business. Forming tools of management of business cycles of economy we actually also achieve stated purposes of the Union.
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