Informatics Publishing Limited

Aleksandr Mikhaylovich Batkovskiy ¹, Elena Georgievna Semenova ², Valeriy Yaroslavovich Trofimets ³, Elena Nikolaevna Trofimets ³, Alena Vladimirovna Fomina ¹

Affiliations
1 Joint Stock Company, Central Research Institute of Economy, Management and Information Systems, Electronics, Moscow, RU
2 Institute of Innovation and Basic Postgraduate Training, St. Petersburg State University of Aerospace Instrumentation, St. Petersburg, RU
3 The Department of Higher Mathematics and Systems Modeling of Complex Processes, Saint-Petersburg University of State Fire Service of Emercom of Russia, St. Petersburg, RU

Abstract

Objectives: The article covers the role of leasing as a financial tool which ensures modernization of scientific and production technical bases of industrial enterprises. Methods: The similarity of long-term crediting conditions and financial leasing underlies the efficiency analysis of the leasing operations, which are carried out by the two main parties of the leasing transaction – the lessee and the lessor. A number of provisions on cash flow management were formulated starting from different types of taxes and considering the time factor. The formulated provisions were taken into account when developing a comparison model of leasing and loan. Findings: The authors have provided a brief overview of leasing schemes and a more detailed outline of the financial leasing scheme underlying the suggested computer models. The basic components of the leasing payments are considered in the context of the general guidelines which were formulated in "Methodical Recommendations on the Calculation of Lease Payments", elaborated by the Ministry of Economy of the Russian Federation. The basic components are supplemented with specific ones that affect the calculation of the lease payments. The two computer models were elaborated with the help of MS Excel spreadsheet processor based on financial models under consideration: the model for calculating the lease payments and the comparison model of leasing and loan. The suggested models are practically tested in relation to the implementation of the financial leasing scheme. It is shown that in addition to the organizational advantages in some cases, leasing can be more effective than a loan from the economic point of view as well, which is far from being obvious at first glance. Application/Improvements: Increased use of leasing is expected, which is determined by the import substitution policy and the need for companies to receive budget funds, to switch to new domestic equipment.

Keywords

Computer Modeling, Leasing, Financial Modeling, Modernization of Enterprises, MS Excel Spreadsheet Processor.

Full Text

   

Aleksandr Mikhaylovich Batkovskiy ¹, Aleksandr Vasilyevich Leonov ², Aleksey Yurevich Pronin ³, Elena Georgievna Semenova ⁴, Alena Vladimirovna Fomina ¹

Affiliations
1 Joint Stock Company, Central Research Institute of Economy, Management and Information Systems, Electronics, Moscow, RU
2 Moscow Aviation Institute (National Research University), Moscow, RU
3 Bauman Moscow State Technical University, Moscow, RU
4 Institute of Innovation and Basic Postgraduate Training, St. Petersburg State University of Aerospace Instrumentation, St. Petersburg, RU

Abstract

Objectives: The article considers various methodological approaches to estimate the costs for creating high-tech products used in the leading countries. Methods: HTP economic evaluation model proposed by the authors is based on modern methods of assessing the costs for the HTP creation. In its economic essence, they are all based on a common methodology for assessing the results and costs in their various combinations and modifications. However, the current assessment techniques do not allow carrying out a comprehensive feasibility study of HTP. Findings: It has been specified that the existing methodologies for estimating the costs do not allow making a comprehensive feasibility estimate of options for sharing of new and traditional technologies when creating high-tech products. Specific peculiarities that are necessary to be considered in economic evaluation of high-tech products have been found. A number of models for economic evaluation of high-tech products have been suggested. These models are based on modern methods of estimating costs to create high-tech products used in leading countries. According to their economic essence, they are all based on a common methodology for estimating the results and costs in their various combinations and modifications that provides a comprehensive feasibility estimate of high-tech products. The practical implementation of the proposed models allows conducting a feasibility assessment of the sharing options for new and traditional technologies when creating high-tech products and choosing the options that ensure rational use of budgetary funds allocated for these purposes. Applications/Improvements: These models are universal and can be used in all sectors of the economy of the technologically developed country.

Keywords

Economic Evaluation, Efficiency, High-Tech Products, Methods, Model, Technology.

Full Text

   

Aleksandr Mikhaylovich Batkovskiy ¹, Elena Georgievna Semenova ², Alena Vladimirovna Fomina ³, Еvgenii Iur'evich Khrustalev ⁴, Oleg Еvgen'evich Khrustalev ⁴

Affiliations
1 Joint Stock Company, Central Research Institute of Economy, Management and Information Systems, Electronics, Moscow, RU
2 Institute of Innovation and Basic Postgraduate Training, St. Petersburg State University of Aerospace Instrumentation, St. Petersburg, RU
3 Joint Stock Company, Central Research Institute of Economy, Management and Information Systems, Electronics, Moscow, RU
4 Central Economics and Mathematics Institute of the Russian Academy of Sciences, Moscow, RU

Abstract

Background/Objectives: This article deals with financial and economic methods for risk neutralization, with risk mitigation, acceptance or transfer being of particular attention. Methods/Statistical Analysis: A management procedure comprised of two stages has been proposed as the principal methodological approach to solve this challenge. At the first stage, an alternative project implementation plan is selected, based on the cost-effectiveness criterion, and risk indicators are considered quality indicators. At the second stage, the risk management procedure that has been proposed by the authors is implemented, using a dedicated financial and production provision. Findings: To account for increasing uncertainty of sci-tech and economic support processes of implementation of programs, plans and projects aiming at developing a knowledge-intensive and high-tech product, principles of forming a new concept of acceptable risk have been justified. This concept exploits capabilities of the new tools to mitigate and compensate any risks arising from financial and economic, scientific and technical, and engineering and manufacturing factors. To assess acceptable innovative project implementation alternatives, an economic and mathematical model has been built up, based on the concept of acceptable risk. The authors have hereby proposed a method of multi-version program or project implementation plan management. This method relies on versions that have been justified and prepared in the course of long-term plan development and are supplemented by potential deviations from the established program path, which occur as a result of various risk conditions. To improve assessment accuracy, risks should be considered at the stage of forming a knowledge-intensive and high tech product development plan a priori or a posteriori. Application/Improvements: The main advantage of the methodology and tools proposed is an ability to develop a new managerial decision-making frame that allows for qualitative synthesis of multiple event scenarios and quantitative analysis of effects.

Keywords

Financial Analysis, Innovative Development, Integration, Knowledge-Driven Economy, Knowledge-Intensive and High-Tech Product, Mathematical Modeling, Risk.

Full Text

   

Aleksandr Mikhaylovich Batkovskiy ¹, Pavel Andreevich Kalachikhin ², Elena Georgievna Semenova ³, Yury Filippovich Telnov ⁴, Alena Vladimirovna Fomina ¹

Affiliations
1 Joint Stock Company Central Research Institute of Economy, Management and Information Systems Electronics, Moscow, RU
2 Department of Theoretical and Applied Problems of Informatics, Institute for Scientific and Technical Information of Russian Academy of Sciences, Moscow, RU
3 Institute of Innovation and Basic Postgraduate Training, St. Petersburg State University of Aerospace Instrumentation, St. Petersburg, RU
4 Plekhanov Russian University of Economics, Moscow, RU

Abstract

Objectives: The study considers creation and implementation of organizational innovations in strategic management mechanisms. It aims to help a company select organizational innovation applying component methodology in a company’s internal environment. Methods: Suggested methodology describes the concept and methods for implementing organizational innovations focused on attaining strategic objectives of a company. The novelty of the methodology is in consideration of the uncertainty factors in the company’s evolution applying mathematical tools of fuzzy logic, thus reducing the effects of these factors on the decision-making process in selecting management methods for developing and customizing organizational innovations in the company’s business environment. Findings: Before introducing organizational innovation, an organizational management method has to be selected among such business administration practices as business-process engineering, knowledge management, quality management, lean production and continuous improvement. The study develops the methodology for selecting optimum management method based on applying fuzzy sets. The chain of activities in developing and integrating organizational innovations in the architecture of the company management is decomposed into nested structures that consist of the sets of homogenous metrics. The obtained criterion for fuzzy optimization makes it possible to select optimum options for revising managerial methods, making them economically efficient. Innovative approach to justifying decisions under conditions of uncertainty and with insufficient initial data, based on fuzzy methods, is unparalleled by any approaches described in the works of other authors. This approach employs combination of fuzzy logic and expert evaluations. The authors of this study have tested this approach to solve a number of tasks related to the subject matters that hardly lend themselves to mathematical formalization due to their quantitative nature. Applications/Improvements: This study helps to find the ways to improve competitive power of businesses by optimizing managerial mechanism at methodological level.

Keywords

Balanced Scorecard, Component Methodology, Development Strategy, Fuzzy Methods, Key Performance Indicators, Multi-Objective Optimization, Organizational Innovation.

Full Text

   

Aleksandr Mikhaylovich Batkovskiy ¹, Pavel Andreevich Kalachikhin ², Elena Georgievna Semenova ³, Yury Filippovich Telnov ⁴, Alena Vladimirovna Fomina ⁵

Affiliations
1 Joint Stock Company “Central Research Institute of Economy, Management and Information Systems, “Electronics”, Moscow, RU
2 Department of Theoretical and Applied Problems of Informatics, Institute for Scientific and Technical Information of Russian Academy of Sciences, Moscow, RU
3 Institute of Innovation and Basic Postgraduate Training, St. Petersburg State University of Aerospace Instrumentation, St. Petersburg, RU
4 Chair of Applied Information Technologies and Information Safety, Plekhanov Russian University of Economics, Moscow, RU
5 Joint Stock Company “Central Research Institute of Economy, Management and Information Systems "Electronics", Moscow, RU

Abstract

Objectives: The study considers mathematical methods applied to strategic management. The objective of this study is to develop economic-mathematical model to justify the innovation strategy selected by a company. Methods: Based on the suggested economic-mathematical model, the study develops a decision-making methodology for selecting the innovation strategy of a company. In the course of modeling, an innovation strategy is presented as an aggregate that consists of two-element formations that include the name of the strategy and the certainty factors that determine the degree of reliability of the selected strategy. Findings: Depending on the type of the company (production focused or scientific and innovative type), innovation strategies can be split into two sub-aggregates. In each of those sub-sets, innovation strategies are ranked based on their degree of aggressiveness. The choice of the innovation strategy is founded on the production rules of fuzzy logic, where the parameters are represented by the type of the organization and by the primary metrics of the innovation strategy components. Innovation strategy is decomposed into elementary indicators in such a way that the components of the company’s innovative potential are represented by the investment, scientific and resource potentials. In turn, such categories as administrative, financial, company geopolitical and foreign economic risks are regarded as probable strategic risks of the innovative development. Economic conditions of the company are predetermined by the industry sector development indicators and by the investment attractiveness of the host region. It has been proved that the informed decisions on innovation strategy can be made relying on formalized expertise and on precision of fuzzy algorithms. Applications/Improvements: Suggested methods could be implemented employing the relevant software. The study aims to help businesses operate under the conditions of high risks and uncertainties related to the available information.

Keywords

Innovative Potential, Innovation Strategy, Soft Computing, Fuzzy Logic, Business Administration.

Full Text