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ЭКОНОМИЧЕСКИЕ НАУКИ
UDC / УДК 631.115.75:005.71-022.57:005.22:616-036.22 COVID-19
METHODOLOGICAL MANAGEMENT BASES OF IMPROVING THE EFFICIENCY OF AGRO-INDUSTRIAL MULTI-LEVEL COMPANIES IN THE CONTEXT OF THE EPIDEMIC COVID-19
МЕТОДИЧЕСКИЕ ОСНОВЫ УПРАВЛЕНИЯ ПОВЫШЕНИЕМ ЭФФЕКТИВНОСТИ ДЕЯТЕЛЬНОСТИ АГРОПРОМЫШЛЕННЫМИ МНОГОУРОВНЕВЫМИ КОМПАНИЯМИ В УСЛОВИЯХ ЭПИДЕМИИ COVID-19
Azhluni A.M., Doctor of Economic Sciences, Professor Ажлуни A.M., доктор экономических наук, профессор Federal State Budget Educational Establishment of Higher Education «Orel State Agrarian University named after N.V. Parakhin», Orel, Russia
ФГБОУ ВО «Орловский государственный аграрный университет имени Н.В. Парахина», Орел, Россия Biryuchkov D.N., Deputy Head of Expenditure Бирючков Д.Н., заместитель начальника отдела расходов Office of the Federal Treasury for the Orel Region, Orel, Russia Управление Федерального казначейства по Орловской области, Орел, Россия
E-mail: Invictos@mail.ru
This article develops theoretical, scientific, methodological and practical recommendations for determining ways, factors and criteria to improve the efficiency of industrial multi-level companies in the context of the epidemic COVID-19. This, in its turn, suggests a justification for the problem of maintaining stable economic indicators of an industrial multi-level company during a downturn in the economic activity caused by external factors, such as an economic crisis or an epidemic comparable in coverage of industries with coronavirus infection (COVID-19); development of a structure that allows analyzing changes in the external and internal environment and taking timely measures to prevent or mitigate negative effects of negative factors of the external and internal environment on the stable operation of the organization; modeling the situation of the epidemic and searching for the most effective options for an industrial multi-level company in these conditions; studying international experience in stimulating the economy in the context of coronavirus infection (COVID-19) spread. The scientific object is to substantiate theoretical and methodological provision and practical recommendations for the formation and implementation of an effective policy in the organization in terms of maintaining high performance during a downturn in the business activity both in the region and in the world, aimed at intensifying activities of all business and support units of the industrial multi-level company, including modeling negative economic effects. The obtained scientific results and conclusions will give definite practical recommendations and can be directly used in the process of forming the economic policy of both industrial multi-level company as a whole and at individual enterprises of this company. Key words: multi-level company, holding, coronavirus infection, COVID-19, economic crisis, business activity, efficiency.
В данной статье разработаны теоретические, научно-методические и практические рекомендации по определению путей, факторов и критериев повышения эффективности деятельности промышленных многоуровневых компаний в условиях эпидемии COVID-19. Это, в свою очередь, предполагает обоснование проблемы поддержания в стабильном состоянии экономических показателей промышленной многоуровневой компании в период спада экономической активности вызванной внешними факторами, такими как экономический кризис или эпидемия, сопоставимая по охвату отраслей промышленности с короновирусной инфекцией (COVID-19); разработку структуры позволяющей анализировать происходящие изменения внешней и внутренней среды и своевременно принимать меры с целью недопущения или сглаживания негативных последствий влияния отрицательных факторов внешней и внутренней среды на стабильную работу организации;
моделирование ситуации возникновения эпидемии и поиск наиболее эффективных вариантов деятельности промышленной многоуровневой компании в этих условиях; изучение международного опыта по стимулированию экономики в условиях распространения короновирусной инфекции (COVID-19). Научная цель состоит в обоснование теоретико-методологических положений и практических рекомендаций по формированию и внедрению эффективной политики в организации в части сохранения высоких показателей работы в период спада деловой активности как в регионе, так и в мире, направленной на интенсификацию деятельности всех подразделений и служб промышленной многоуровневой компании, в том числе: в моделировании отрицательных экономических эффектов. Полученные научные результаты и выводы будут доведены до конкретных практических рекомендаций, могут быть непосредственно использованы в процессе формирования экономической политики как промышленной многоуровневой компании в целом, так и на отдельных предприятиях данной компании. Ключевые слова: многоуровневая компания, холдинг, короновирусная инфекция, COVID-19, экономический кризис, деловая активность, эффективность.
Introduction. Currently, the most significant factors hindering the effective and stable development of multi-level industrial companies are economic crises, business downturns, and outbreaks of epidemics such as coronavirus infection (COVID-19). It is worth noting that epidemic and pandemic cause a decline in the business activity and, in extreme cases, can lead to the economic stagnation.
Main part. Based on the reviewed analytical data, it is expected that by the end of 2020, the global GDP level will decrease by 4%, and the GDP level of the Eurozone States by 8.7% [1 ].
With the fall in China's GDP as a result of the COVID-19 epidemic, not everything is so clear: in the first half of 2020, GDP decreased by 1.6 %, but in the second quarter this indicator increased by 1.6 % [2].
A record decrease in GDP is observed in the United States in the second quarter of 2020, it was 32.9% according to the calculations of the Bureau of economic analysis when Monitoring the United States; if we calculate using the usual method, then US GDP fell by 9.5% in the second quarter of 2020 [3].
According to Rosstat, GDP in Russia fell by 8% in the second quarter of 2020 compared to the same period the previous year, when it was 8.5 % [4].
Thus, as a result of the spread of COVID-19 coronavirus infection, we observe a decrease in the economic development indicators both in Russia and in the world. However, the leaders of the European Union, the United States, China and Russia are implementing a set of measures aimed at stabilizing the economic situation in the regions entrusted to them.
It is worth noting that in February 2020, US President Donald Trump announced a stable development of the US economy, increase in adult and youth employment, and that the process of returning production to the country had begun. In April 2020, Trump signed a law on the allocation of funds in the amount of 484 billion dollars to maintain the stability of the state's economy against the background of the coronavirus pandemic, earlier in March 2020 the US economy received cash injections in the amount of $ 2.2 trillion [5, 6].
At the same time, Russian President Vladimir Putin said that Russia had enough reserves to maintain the economy in the stable state despite the global situation with coronavirus. The financial reserves are in order, meaning the Central Bank possesses 563 billion dollars, the National Prosperity Fund has 124 billion dollars. At the meeting on the economic issues on September 10 2020, Vladimir Putin noted that the fall in Russia's GDP for the second quarter of 2020 amounted to 8.5% in the US - 9.5% and in the countries constituting the Eurozone - 15% [7, 8].
The EU leadership is also taking measures to stabilize its economy. In March 2020, an investment fund amounting to 37 billion euro was created. Its work is aimed
at neutralizing economic consequences of the coronavirus infection spread in the European Union, which will help the European companies overcome the consequences of the pandemic, but according to Thierry Breton (Commissioner for the internal market of the European Union), the coronavirus epidemic will plunge the European Union countries into a recession at the level of 2-2.5% [9, 10].
On April 24, 2020 the leaders of the 27 EU countries approved a program to support the European economy, the amount of support amounted to 540 billion euro. This program started functioning on June 1, 2020 [11 ].
It is not possible to formulate briefly a provision on multilevel systems, and for a detailed definition, you will need to list all possible options. So, Mesarovich M., Marko D., Takahara I. in the book "The theory of hierarchical multilevel systems" confirm that it is almost impossible to describe a complex system as a whole and in details. On this basis, only some of the most important parameters that are typical for all the hierarchical systems will be marked.
They should include:
- vertically arranged subsystems that make up the whole system in a strict sequence-vertical decomposition;
- priority right to intervention and actions on the part of upper-level subsystems;
- presence of dependence in the actions of upper-level systems on the performance of direct duties by lower-level systems [12, 13].
Multi-level companies present hierarchical systems both in the world and in the Russian economies.
The greatest distribution have received such multilevel companies like holding companies.
A holding company is a system of commercial enterprises that includes a management structure - the head office that owns a controlling stake. In addition, the parent organization can perform production functions. Often, the control over the work of constitute companies is carried out in such a way that the head office manages the largest firms that are subordinate to other subsidiary structural divisions [14].
Holding companies are legal entities that use their own capital to purchase shares in various independent companies. In the classical sense, holdings exercise control by appointing members of the Board of Directors as managing subsidiaries. In addition, contractual agreements are made with them, according to which the head office has a large number of votes at meetings of existing shareholders.
The control over the subsidiaries can also be carried out under a special agreement. The agreement between two partners for which the parent company gives instructions, obligatory for execution by all participants of the holding are registered in it. The head office has the right to regulate the activities of all the enterprises in relation to investment, financing, as well as production and economic activities.
The authors consider it appropriate to note that in Russia, with entering into force of the Federal law № 7-FZ of 12.01.1996 (in force as of 08.06.2020) "On non-profit organizations" (as amended and supplemented entered into force on 15.09.2020), such type of non-profit organizations as state corporations and state companies, which present multi-level structures funded not only by their activities, but also by the state budget funds (for example, subsidies received from the Federal budget), in this connection, there is a need to control the expenditure of budget funds, we emphasize that in the European Union and the United States, multi-level companies are commercial associations [15].
How and why are holdings formed? Companies voluntarily or in the course of purchasing shares of various organizations combine to strengthen their positions in a certain area of the market. In addition, an increase in the number of parent companies contributes to the growth of dividends and economic stability. Holdings are also created for the purpose of:
- formation of new sales channels and improvement of production quality;
- diversification of activity;
- creating a network of your own service;
- optimization of business management mechanisms;
- increasing the market value of shares.
The enterprises that are part of a particular holding create interconnected new production chains and sales channels in order to ensure smooth operation of all subsidiaries and reduce the degree of dependence on supplier companies. In the course of the holding's economic development, the head office often makes it the prerogative of its companies to produce new products or provide new services. It is thanks to diversification that it is possible to increase production efficiency and competently manage the assets of the enterprise as a whole.
Holdings also create a service network consisting of specialized structural divisions (logistics, repair and construction services, sales departments, etc.). They are usually reorganized and then registered as separate legal entities. It is done to save the holding's expenses and improve the quality of work of its structural divisions. The service enterprises of the holding centrally serve all the companies that are part of it [16].
Note that for large holding companies, one of the most important problems that is to be solved is the problem of environmental safety compliance, for example, in 2020, Rosprirodnadzor estimated the amount of environmental damage from the spill at NORILSK Nickel's CHP 3 at almost 147.78 billion rubles, which is ten times more than it would take to modernize equipment and comply with environmental standards [17].
Thus, having considered the concept and essence of holding companies, the authors propose the following definition of an industrial multi-level company: an industrial multi-level company is an association of interconnected vertically integrated subsidiaries, dependent, sister industrial enterprises that are part of the profile divisions characteristic of which - or industries, such as metallurgy (extraction of raw materials and production of finished products), and non-specialized divisions that support the main activity (sales of products, analysis of external and internal conditions), created to improve the efficiency and competitiveness of an industrial multi-level company as a whole, which are managed by the parent organization that owns a parcel of shares in these subsidiaries, performs control, coordination and administration functions, or is an industrial enterprise with expanded powers. The purpose of this association is:
- concentration of production and capital;
- speed up information exchange;
- price production, both within the association and on the foreign markets;
- a synergistic effect.
Thus, taking into account the definition of an industrial multi-level company, we can present a classification of companies of this type (for example, a metallurgical company):
1) by the presence of main and supporting divisions:
- with the lack of support divisions;
- with the creation of supporting divisions as third-party organizations (for example, a centralized accounting Department may be a third-party organization that provides accounting services);
- with the creation of one or more supporting divisions within an industrial multilevel company, which are part of the company.
2) involving third-party organizations in the supply of raw materials to an industrial multi-level company:
- significant volumes of purchases of raw materials from third-party enterprises;
- small volumes of raw materials purchased from third-party companies;
- the purchase of raw materials from third-party companies is not made, as part of an industrial multi-level company there are mining divisions that fully provide the necessary amount of raw materials.
3) full or partial production/production/sales cycle:
- an industrial multi-level company, whose activity involves the entire cycle from the extraction of raw materials to the sale of finished products;
- an industrial multi-level company, whose activity involves a partial cycle of production/production/sales (for example, only the production of finished products and sales, without the possibility of extracting its own raw materials for production).
4) according to the variety of products:
- production and marketing of various types of products;
- production and sale of one type of product.
Taking into account the above, the authors propose to carry out a set of measures aimed at stabilizing the economic situation of an industrial multi-level company in order to improve the efficiency of industrial multi-level companies during the COVID-19 epidemic, as well as during a downturn in business activity (economic crisis), namely:
In the structure of an industrial multi-level company, it is necessary to create a Control and Coordination Commission, an Economic reserve fund (in case of a downturn in business activity, an economic crisis and loss of profit), and a Health care foundation (in case of an epidemic like COVID-19).
1. Control and coordination Commission.
It is meaningful to divide the Control and Coordination Commission into the following groups:
- a group for improving production technology and technological processes (the group may include the most qualified workers in various areas of production and engineers);
- a group for developing effective corporate governance methods (the group may include employees who perform managerial functions, for example, middle-level managers);
- an analytical group that evaluates the external and internal environment;
- a group of emergency situations and prevention of the spread of the epidemic (the group may include employees responsible for safety at work and employees of the medical service of an industrial multi-level company, if the medical service is not created, it is necessary to invite independent medical experts/qualified medical workers by setting them a fixed salary).
- a group for auditing and control of financial expenditure (the group may include employees of the financial service of an industrial multi-level company, the group is created to control the receipt and distribution of funds sent to the economic reserve Fund, the medical service Fund, the creation and operation of these funds will be described below).
The main goal of the control and coordination Commission is to find and implement the most effective, operational and rational solutions in the field of processes occurring in the work of an industrial multi-level company, as well as issues related to ensuring industrial and epidemiological safety at the enterprises of an industrial multi-level company. For example, the control and coordination Commission has the authority to solve problems related to the introduction of a new production line, the capture of market sectors, reorganization, modernization, monitoring the epidemiological situation, and so on.
The amount of the investment required to create a control and coordination Commission is minimal, since it is necessary to create this body on the basis of the parent company and hold scheduled meetings by means of video and audio conferences. However, in terms of creating an audit team and controlling the fund expenditure, it will be necessary to involve employees of the organization into auditing or to hire third-party experts, whose work should be extra paid.
An important role in this commission plays a group of improvement of production technology and technological processes, because the issue of technologically determined relationships within an industrial multi-level company is one of the most important. This group analyzes information about the stages of the technological process, draws conclusions about the possibility of interfering with this process in order to increase the efficiency of the company's activities, and the consequences of excluding a particular stage from the technological cycle.
Figure 1 shows the scheme of the interaction between the created funds, the control and coordination Commission and management with the participation of centralized accounting within an industrial multi-level company.
Management (senior managers) of an industrial multi-level company
Control and coordination Commission
Economic reserve fund
Economic and analytical division
Health care Foundation
Centralized accounting
Figure 1 - Diagram of interaction between funds and divisions created in an industrial
multi-level company1
Considering the scheme shown in figure 1, we can describe the following features of interaction between divisions of an industrial multi-level company and established funds:
1. Management (senior managers) send the task to calculate the necessary funding to the economic and analytical division. At the same time, they inform the Control and Coordination Commission about the decision taken to Finance the funds;
2. The economic and analytical unit conducts necessary analysis and calculations on financing funds and transfers data to centralized accounting;
3. The Centralized accounting units directs monetary resources for further development to the funds, then the Centralized accounting unit makes a report on the amount of money allocated to the funds and sends it to the economic and analytical unit;
4. After receiving and spending the allocated monetary resources, the funds send reports to the Control and Coordination commission;
5. Control and Coordination commission receives reports from the funds, audits the correctness of spending of the allocated funds, forms and sends the final report to the management of industrial multi-level company, at the same time economic and analysis unit sends its final report with the data obtained from centralized accounting.
2. Economic reserve fund
We shall consider in detail creation and operation of the Economic reserve fund on the example of an industrial multi-level metallurgical company. In the structure of an industrial multi-level metallurgical company, it is planned to create an Economic reserve fund, investments in which are made both by divisions of the industrial multi-level metallurgical company as a whole, and by individual structural divisions (enterprises) of these units. The funds required to invest in this fund are calculated based on possible losses of the net profit during a downturn in business activity (economic crisis).
We shall assume that the total loss of the net profit for an industrial multi-level metallurgical company during the downturn in business activity in general amounted to 20%, for the mining division - 10% of the total losses of the company, for one of the enterprises included in the mining division - 5% of the total number of the enterprises in the unit. The investments in the Economic reserve fund for the division will amount to:
Msd = (Og *Pg) + (Ofc *Pkc) + (Oa *P0) +... + (On * Pn) , (1)
where i - the period;
AIsd - total investment in the economic reserve fund for the mining division;
Og - estimated production volumes of iron ore concentrate by enterprises of the mining division in the i - period;
Okc - estimated production volume of coking coal concentrate by enterprises of the mining division in the i - period;
Oo - estimated volume of pellets production by enterprises of the mining division in the i -period;
On - estimated production volume of the nth production by enterprises of the mining division in the i -period;
Pg - percentage of losses in iron ore concentrate production by enterprises of the mining division in the i -period;
Pkc - - percentage of losses in coking coal concentrate production by enterprises of the mining division in the i -period;
Po - percentage of loss of pellet production volumes in the i -period;
Pn - percentage of loss of production volumes of the nth production in the i -period.
We calculate the total investment in the economic reserve Fund for an industrial multi-level metallurgical company as a whole using the formula:
M = £AOf * Pt, (2)
where i - is the period;
AI - total investment in the economic reserve Fund planned in the i -period;
AOi - total estimated production (production) by subsidiaries planned in the i -period;
Pi - the total percentage of production volume losses for subsidiaries in the i -period.
In the event of a downturn in the business activity (an economic crisis), it is necessary to use the funds of the Economic reserve fund to reduce the financial and production losses of an industrial multi-level metallurgical company. If the crisis does not occur, these funds will be invested in the priority areas of the activity. The investment in each specific enterprise is based not only on the external factors, but also on internal factors, so you need to enter two correction factors: Kv - a correction factor that takes into account internal factors; Kvn - a correction factor that takes into account external factors. These coefficients are determined by the Economic and analytical unit of the company based on information received from the companies that are part of the company and from the external environment. The coefficients have a range that is set by the organization's management independently due to the type of the company's activity and various external and internal business conditions. When determining these coefficients, the Economic and analytical unit of the organization must perform the following actions:
1) to identify and systematize the factors of external environment;
2) identify and systematize factors of the internal environment;
3) select a range of correction factors (for example, from 1 to 2);
4) define and assign degrees of significance for coefficients within the selected range.
Taking into account the above, the formula for obtaining funds from the Economic
reserve fund for an enterprise that is part of an industrial multi-level metallurgical company has the following form:
j PIji* кш * Kv, (3)
where i - is the period;
AIji - total investment volume for the j-th enterprise of the mining division from the economic reserve Fund, planned in the i - th period;
PIji - estimated amount of investment from the economic reserve Fund for the j - th enterprise of the mining division, planned in the i - th period; Kv - correction factor that takes into account internal factors; K vn - correction factor that takes into account external factors. Under restrictions: 1< Kv <2; 1< Kvn <2.
Figure 2 shows the sequence of actions of the Economic and analytical unit of an industrial multi-level metallurgical company to determine adjusting factors.
Figure 2 - the scheme of actions of the Economic and analytical unit of an industrial multi-level metallurgical company to determine the adjusting factors2
3. The Health care fund.
Further we will look at the creation and operation of the Health care fund. In the structure of an industrial multi-level metallurgical company, it is necessary to create a Health care fund in order to reduce economic losses, as well as loss of working hours at the company's enterprises during an epidemic like COVID-19.
The investments in the fund come from the net profit of an industrial multi-level metallurgical company. The economic and analytical unit together with the organization's medical service calculates the volume of investments based on the following factors and conditions:
- estimated period of the epidemic;
- estimated number of cases;
- the necessary amount of medical supplies, including: thermometers, masks, antiseptics, etc.;
- estimated number of employees performing official duties remotely;
- the estimated amount of funds allocated to eliminate the consequences of harm to the health of employees after the end of the epidemic (sanatorium-health-resort).
The medical service of an organization can be either an independent unit created in the structure of an industrial multi-level metallurgical company, or a third-party organization with which contracts for medical services are signed.
If a multi-level industrial steel company is large, with several thousands or tens of thousands of the personnel, it is preferable to create your own effective medical service on a regular basis, otherwise the best option is to contract with third-party medical facility or to sign a civil law contract with individual workers of medical institutions for a certain period, you will need to equip a medical room on the premises.
Thus based on the above the calculation of investments in the Health care fund for the company as a whole will take the form:
M, = (3V * Kv) + (Зт * Kv) + (З * Kv) +... + (3n * Kv), (4)
where i - the period;
A Ii - total investment in the health care fund for the company as a whole;
3v - estimated cost of payments to medical professionals;
3m - the estimated amount of costs for the purchase of medicines, medical devices, medical equipment;
- 3i - the estimated cost of eliminating the consequences for the health of employees sanatorium-health-resort, etc.);
3n - estimated cost of purchasing the nth medical product/service;
Кv - the adjusting factor of the importance and necessity of costs, calculated by the Economic and analytical unit, based on the expected situation with the epidemic.
At the same time, it is necessary to study carefully the actions of the organization's medical center in the event of an emergency event, namely an epidemic.
The work of a medical center in the company can be organized in the following way:
1. Checking the body temperature of the company's employees at the checkpoint.
2. If the temperature is elevated, the employee is sent to the medical center for further testing for COVID-19 or another virus. It is assumed that the employee remains at home until the results of the analysis are received, he is paid within this period.
3. In case of confirmation of the infection COVID-19 or another virus, the employee is sent to self-isolation or hospitalization, depending on the severity of the disease.
4. After the end of the epidemic, registration of health resort vouchers is done for the employees who have been ill with COVID-19 or other serious viral diseases in order to improve their overall health after the disease.
Figure 3 shows the operation of the medical center of an industrial multi-level metallurgical company during the epidemic.
Considering the scheme shown in Figure 3, we can describe the following features of the medical center during the epidemic:
1. The medical center organizes the duty of medical workers at the checkpoints of the enterprises that are a part of an industrial multi-level metallurgical company.
2. If an employee has a fever or symptoms of the disease, he / she is sent for the medical analysis, and is released from work for the period of receiving the results, the employee is paid within this period.
3. In case of confirmation of the disease and serious condition of the employee, the department ensures his hospitalization or in case of a mild course of the disease -self-isolation.
4. The Medical center informs the Control and Coordination commission about the detected cases of the diseases and measures taken with the list of the infected employees.
5. The Control and Coordination commission informs the management of an industrial multi-level metallurgical company about the epidemiological situation in the organization, sends its recommendations and lists of employees subject to the sanatorium-health-resort.
6. The Management, after reviewing the information and recommendations provided, makes a conclusion about the sufficiency or insufficiency of the measures taken, and also approves the lists of employees subject to health resort treatment and sends them to the Control and Coordination commission and then to the medical center for issuing vouchers.
Figure 3 - Diagram of the activity of the medical center of an industrial multi-level metallurgical company during the epidemic3
In addition to the main measures to improve the efficiency of an industrial multilevel metallurgical company in the conditions of an epidemic and a decline in economic activity presented above, according to the authors, it is meaningful to organize health programs in the organization, which would include organizing access to the company's gyms and monthly health surveys by medical workers, and health surveys should be held in a proper way, not formally, which will reduce the percentage of temporarily disabled employees.
Conclusions. Thus, according to the authors, the future establishment of the Economic reserve fund for, will avoid a catastrophic decline in performance during epidemic, economic crises and post-crisis periods, both in the industrial multi-level company as a whole and for individual plants within a multi-level divisions of the company, at the same time the creation of the Health care fund will reduce the percentage of temporarily disabled employees of the organization that will contribute to reducing the financial burden on the industrial multi-level company, though only slightly, because, as you know, the first three days of the employee's sick leave are paid by the employer.
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