Projects on the introduction and development of customer relationship management (CRM) remain one of the most demanded in the practice of modern enterprises. In case of their successful implementation, companies manage to significantly increase the level of loyalty of their most valuable customers, as well as improve their market position and financial performance. At the same time, a well-known fact is a high share of unsuccessful implementations of this kind of projects in various industries, which is largely due to the inadequate elaboration of strategic aspects of CRM implementation. The article presents analysis of data obtained during the realization of dozens of consulting projects on the development of CRM strategies for Russian companies. In each project the study (in the form of interviews) was conducted among the decision makers on the issues of CRM. The obtained results allow assessing the general level of interest of Russian companies in the development of strategic aspects of CRM, as well as identifying existing problems in this area. In addition, they should draw the attention of Russian company executives to the need for detailed study of the strategic component of CRM and to increase the expert level of the staff responsible for its implementation
This article is a case study of the bankruptcy of the Russian passenger aviation company “Transaero” that took place in 2015 aimed to reveal the preferences of creditors of financially distressed companies between formal bankruptcy and restructuring. We tested the hypothesis that the creditors of Transaero have chosen its bankruptcy because its liquidation value was significantly higher than its going concern value. Firstly we derived the equations of the market value of civil airplanes by plane type depending on their age based on the information gathered from the announcements of the plane sales. At the next step we calculated the market value of Transaero’s fleet. According to our estimate the liquation of the company will lead to the 75% debt recovery for its debt holders. Then we modelled the hypothetic restructuring that included asset sales and return of a number of planes in financial lease to the leasing companies, and in total we got rid of 35 planes. This restricting could bring the debt down by 22% but under no future cash flow scenario the company would be able to serve its debt. The enterprise value of Transaero as a going concern is less than its liquidation value and the value of its equity is negative. The future cash flow to the firm is less than annuity payments needed to serve and to pay out debt. In case of restructuring the losses of creditors would have been in the range of 60% to 78%. Thus, we concluded that the choice of the creditors was rational.
The article studies entrepreneurial activity in Russia. In order to select the most relevant areas for analysis at the country level, an overview of current research on entrepreneurial activity is presented. It includes the analysis of opportunities and constraints of the Global Entrepreneurship Monitoring (GEM) project, which has a unique, annually updated database that is used to comprehensively study entrepreneurship at the national and global levels. The article analyzes the dynamics of the level of entrepreneurial activity, the aspirations of entrepreneurs, the attitude to entrepreneurship in the society, the assessment of the factors that impede and stimulate entrepreneurial activity in Russia, as well as the changes that occurred between 2006 and 2016. It gives the possibility to assess the sustainability of the main indicators of entrepreneurial activity and the main trends in entrepreneurship development.
The article investigates entrepreneurial intentions factors in Russia. The empirical analysis is based on Global Entrepreneurship Monitor data. GEM methodology for survey uses a multistage, stratified, probabilistic sample of 2029 respondents to represent the adult population of Russia between the age 18 and 64 years. The models of binary choice are applied to reveal the factors of entrepreneurial intentions. The results demonstrate that it is hard to predict intentions on the base of socio-demographic characteristics. At the same time perception of having appropriate knowlege and skills to undertake entrepreneurial activity, individual's acquaintance with someone who has opened a business, the previous entrepreneurial experience and assessment of environmental favorability for starting up a business in the locality where the respondent lives determine entrepreneurial intentions in Russia.
The paper explores practical issues of using price discrimination in the markets of new apart-ments. First, we discuss various strategies of price discrimination which may be applied by construction companies to increase revenue (i. e. discrimination by observable characteristics or by self-selection). then we suggest an approach for empirical estimation of possibility of price discrimination in this market, based on the survey of real buyers of apartments. Finally we present results of the pilot application of this approach on the basis of a construction company in St. Petersburg and suggest the next steps for development of this approach.
Organization studies suggest a variety of approaches to organizational change. The majority of them considers change as a transition between various stances of an entity in two periods of time. In contrast, a processual approach views change as a process that literally predates and enables existence of the organization. This perspective provides a researcher with more fruitful data of interconnections between macro-level innovations and their implementations in employee micro-practices. Based on empirical data collected with organizational ethnography at FSUE “Russian Post” I illustrate how different by speed and content were simultaneous changes in the institutional context and daily work of the post offices. An introduction of IP-telephony and installation of Internet access points show that attempts to distinguish clear stages of change rather characterize organization as dysfunctional and irrational. At the same time, a processual lens overcomes these theoretical limitations.
The aim of this article to present the findings of network communications among authors of projects based on their organizational status while promoting and implementing the project. The data were collected in Russian innovative-active company. The timeliness of this paper is that the company leaders should assess risks and make forecasts about the characteristics of project teams before their creating and practicing. Yet, the type of communication that will become more effective while the project team developing and working is another concern for the large and multinational companies. Based on both social capital and stakeholder group concepts and conducted research, it has been established theoretically and empirically the features of personal network communications that overcome the bounds of the formal organizational network. New dimensions of personal networking, which allow neutralizing the position status in the company hierarchy, have been proposed. As a result, this novel approach can enable HR specialists to compare the network social activities among employees with different organizational statuses. The key findings of this study is the model that connects both network communication activities and promotion the project in the official meetings with the team composition that the author gets together to put the project idea into practice.
The paper continues the research published in issue № 1б 2015 of the Russian Management Journal and based on the large-scale case-study of joint stock company “Sistema”. The attention focuses on the key issue of the case-study – the evolution of a Board of directors in growing company. We revealed that the transition to the new business model from operational holding company to investment one accompanied by the strengthening of the role of the Board of directors in strategic decision making and recruiting independent (mainly foreign) directors to the board in this company. The paper presents personal directors’ investment into company development and discusses the issues of communications and motivations connected with Board’s strengthening as well.
To date, most research on leadership has focused on the positive effects of transformational leaders on employee attitudes, behaviors, and performance. Much less attention has been given to the antecedents of transformational leadership behaviors. Drawing from follower-centric perspective of leadership, we examined subordinates’ and supervisors’ personal characteristics, work-related perceptions and attitudes, and observed managerial practices as predictors of transformational leadership. The sample included 112 employees from two organizations (IT and manufacturing). Results revealed that supervisors’ transformational leadership is significantly predicted by subordinates’ agreeableness; perceived justice of performance-based payments and career promotions; practices of professional training and implementation of employees’ initiatives. Among these, perceived justice of performance-based promotions showed the highest relative importance for predicting supervisors’ transformational leadership. Although such supervisors’ personal characteristic as conscientiousness was positively correlated with transformational leadership, its effect disappeared in the integrative model including subordinates’ traits and perceptions and management practices. Our results contribute to the understanding of transformational leadership as a “really existing” phenomenon derived from supervisors’ positive practices as well as to knowledge of how organizational context may encourage line and middle managers’ transformational leadership behaviors.
The article examines various aspects of the labor market for top managers in Russia. Overview of the contemporary market for top managers, as well as internal vs. external HR sources choice criteria and international statistics on this issue are presented. Using original data authors apply econometric methods to analyze the main factors, influencing the ratio of internal and external promotion.