Strategic Aspects of Ensuring Sustainable Development of Gold Enterprises of the Russian Federation

• Published in: Sustainability
• Main Authors: Vladimir Zhuravlyov, Natalia Varkova, Sergei Aliukov, Tatyana Khudyakova
• Format: Text
• Language: English
• Published: Multidisciplinary Digital Publishing Institute 2018
• Subjects: sustainable development; strategic management; gold mining enterprise management model; investment activity; business valuation; Sakha; Yakutia; Siberia
• Online Access: https://doi.org/10.3390/su10124410

This article focuses on the sustainable, equilibrium development of Russian enterprises engaged in the extraction and processing of gold. The conditions for the effective activity of companies in the field of gold mining were considered. The main factors causing crisis situations and problems in the strategic management of gold mining enterprises of the Russian Federation were highlighted. The main objective of the study was to develop proposals for improving the model and mechanism of the strategic management of the gold mining company. The study analyzed a wide range of theoretical sources, identified gaps in scientific works in contact with the topic of this work. These gaps were associated primarily with the inadequate reflection in the existing models of industrial enterprise management of the specifics of the activities of gold companies and the lack of key components of the model, affecting sustainable business development. The methodological basis of the study was: Systems theory and systems approach, economic and mathematical models of firm management, investment design, theoretical studies in the field of business valuation. In connection with the growing risks, socio-economic instability, the fall in the growth rate of gold mining, the problems presented in the study are relevant. Maintaining competitiveness and improving performance indicators requires the improvement of the process of the strategic management of mining companies. This article discusses the fundamental components of an improved model of strategic management of gold mining enterprises proposed by the authors, presents a graphical model, suggests directions for describing an improved management mechanism for a gold mining company using mathematical modeling methods designed to link the most problematic components and gold mining business processes: investment, technology intelligence and gold mining, capital investment, timing of the project Comrade, the profitability of production. The dynamic simulation model of strategic management presented in this study and strategy assessment tools based on the concept of the organization&rsquo s life cycle take into account the specifics of the activities of gold companies in Russia were introduced into the practice of the enterprises of Siberia, Sakha-Yakutia, which led to increased economic sustainability and improved financial performance of these companies.