Комплексная корпоративная система управления проектами в строительном бизнесе
The article presents the integrated approach to corporate automated project management systems (CAPMS) design for the construction companies. The approach includes a set of new methodological, technological and organizational solutions based on SAP ERP. The specific features of construction projects, the main project categories, the main project roles were defined and the scheme of information flows accounting the features of construction industry was created. The corporate project management standard framework is proposed. The IT functional accounting the construction companies features was designed. The implementation of proposed decisions in CAPMS for real construction company has shown their high efficiency. It includes the project implementation cost decrease due to materials and equipment purchase optimization and decrease of the warehouse storage costs. Also the system allowed to appreciably increase the internal subcontractors control efficiency.
The paper presents research question and some results devoted to analyses of companies’ strategic processes in international business networks.
The textbook covers such important aspects of financial planning as methodological development of financial planning mechanisms, budgeting, forecasting the growth rate of the company and the company's value. Financial planning mechanisms in organizations should be adapted to the specific focus of the main business processes.When developing the optimal mechanism for planning financial resources and sources of their formation, developers of financial plans should be guided by the principles of scientific news and target orientation, the basic principles of financial planning in organizations. In this regard, the system knowledge gained from the study of this publication allows students to gain theoretical knowledge and practical skills in the competent preparation and implementation of financial plans and effective management of the company.
The problem of the firm bankruptcy prediction was investigated by foreign researchers in the 1930s and it still remains relevant. Since the publishing of Altman’s (1968) major work, based on multiple discriminant analysis (MDA), this methodological area has considerably changed. Taking into consideration that new data have appeared in the course of time, companies’ average size has changed, and the accounting standards have changed (Altman, Haldeman, & Narayanan, 1977), methods and models should be renewed so as to be appropriate for current situation. The purpose of this paper is to reveal factors causing bankruptcy and use models appropriate for prediction bankruptcy in the area of a construction industry during the financial crisis. This investigation has been carried out on the basis of logit and probit analysis. The main reasons of bankruptcy revealed in the course of this investigation are the following: (1) non-optimal capital structure formation; (2) ineffective liquidity management; (3) decrease in assets profitability; and (4) decrease in short-term assets turnover. The most reliable indicators which give warning of bankruptcy ahead of others are financial instability and liquidity ratios.
The problem of the firm bankruptcy prediction was investigated by foreign researchers in the 1930s and it still remains relevant. Since publishing of the major Altman’s work (1968), based on multiple discriminant analysis, this methodological area has been considerably changed. Taking into consideration that new data have appeared in the course of time, companies’ average size has changed and the accounting standards have been changed (Altman (1977)) methods and models should be renewed to be appropriate for the present day situation. The purpose of this investigation is the revealing of factors causing bankruptcy and using models appropriate for prediction bankruptcy in the area of a construction industry during financial crisis. This investigation has been carried out on the basis of logit and probit analysis. The main reasons of bankruptcy revealed in the course of this investigation are the following: • non-optimal capital structure formation • ineffective liquidity management • decrease in assets profitability • decrease in short-term assets turnover The most reliable indicators, which give warning of bankruptcy ahead of others are financial instability and liquidity ratios.
The last market crash of 2008-2009 showed that the construction sphere is one of the most fragile subject to the crisis effect. The destructive effect of this crash resulted in substantial decrease in mortgage lending, price index, capital investment, and in growth of the cost level. As the construction industry remains strategically important, the eruption of this sphere, which was facilitated by the crisis, might considerably harm Russian economy as a whole. However, lack of relevant studies leaves the main risk factor of Russian construction firms’ failure unexplored. The purpose of this study is to reveal the key determinants, which cause bankruptcy of Russian construction firms during the crisis period. Moreover, the article provides testing of applicability of accounting-based models to prediction of bankruptcy of these firms. The results show the validity of binary-choice logit and probit specifications with the highest classification accuracy of around 85%. In addition, the liquidity and profitability ratios were defined as superior insolvency factors for four years before a company files for bankruptcy
Globalization and growing competition force companies to look for new markets for their business. International operations give companies an opportunity to use their resources more efficiently and simultaneously the internationalization processes increase a firm‘s risks and strategic problems. The choice of an international strategy defines a company‘s priorities on partnership development, which are necessary for a quicker understanding of new markets‘ features, and also for decreasing strategic and commercial business risks. The strategic process is influenced by a number of factors, such as institutional and sociopolitical, and also business-sector specifics and national culture. Strategy development and implementation together with stable network relations define company‘s success in a new market. The paper presents the main results of an empirical research, devoted to analyses of international companies‘strategies and factors, affecting strategic choice and implementation process in the Russian market.
The Russian construction sector: Informality, labour mobility and socialist legacies
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.