This study aims to examine over 20 years of experience in the implementation of industrial policy in the federal subjects of the Russian Federation. Tasks. This study identifies major stages in the development of regional industrial policy, drawing conclusions on the current demands of the federal subjects of the Russian Federation for industrial activity stimulation mechanisms. Results. The development of regional industrial policy in the Russian Federation has under gone several stages: (1) 1995-2004: establishment of regional industrial policy;(2) 2005-2014: search for efficient industrial policy tools at the federal and regional levels; and (3) 2015-present: development of new regional industrial policy tools. This study provides a detailed description of each stage from the perspective of tools used for the management and regulation of industrial policy at the regional level and forms of industrial organization support. It likewise analyzes the best regional practices regarding industrial incentives along with the potential for replication. The findings suggest that 2015 marked a new phase of active cooperation between the federal center and its regions for industrial regulation, based on common (negotiated) principles and goals as well as bilateral systemic interaction. Conclusion. The nature of the implementation of industrial policy in Russia in the 1995-2015period and the process of its formation can be characterized as bilateral and in some ways even cyclic (regions - center - regions). In the coming years, this cyclic nature may serve as a basis for further improvement of the mechanisms used in government regulation of industrial development in Russia, which is itself based on a reinterpretation of regional industrial development initiatives.

This study examines the relevant issues of regional innovation policy implementation through an example of the Magadan region), problems of the increasing ambition of the subjects of innovative activity, and the formation of a regional innovation system (RIS). Aim. This study assesses the efficiency of the regional innovation policy and its level of development, identify problems and prospects for RIS development, and analyze the specific aspects of interaction between the stakeholders of innovative activity in the region, based on interviews of expert representatives of various subjects of innovative infrastructure, such as government, business, and science. Tasks. This study assesses the current state of the RIS, determines the role of the subjects of innovative activity (government, business, and science) in RIS development, identifies economic sectors that are the most promising in terms of innovations, as well as factors that may facilitate or hinder regional innovative development. Methods. This study uses expert assessment methods, sociological methods, and general methods of scientific cognition to help create a general picture that reflects the current state of the RIS. Results. Since 2008, the Magadan region has made significant progress in terms of innovative economy reorientation: an innovative development strategy has been introduced, a regulatory and legal framework for innovative activity has been initiated, and innovative activity has increased. However, an analysis of the current state of the RIS and a comparison of expert opinions reveals a number of problems associated with the functioning of the evolving RIS, its uneven development, and the low level of interaction between the subjects of innovative activity. Conclusion. The Magadan region boasts of a high level of innovative activity and a rapidly evolving innovation system but its efficiency is still low, primarily due to the lack of meaningful cooperation between the elements of the innovation system and numerous drawbacks in the infrastructure. A mechanism that would ensure the mutual interest of all the subjects of innovative activity and improve the efficiency of their performance through a synergistic effect is required to solve the identified problems.

In terms of the level of socio-economic development, Vietnam currently pertains to dynamically developing countries. This is largely due to the Doi Moi policy, which entails global modernization of the national economy. However, there is a number of problems that reduce the efficiency of the Doi Moi policy. Aim. This study aims to evaluate the prospects of maintaining the high rate of economic growth in 2016-2020 and major challenges for making the transition towards a new model. Tasks. This study identifies major problems and risks that reduce the efficciency of Vietnam’s economic policy. Methods. The study uses general methods of scientific cognition and statistical data provided by the Ministry of Finance of the Socialist Republic of Vietnam (SRV). Results. Key problems that limit the efficiency of the Doi Moi policy are identified, namely: inflation, two-tiered foreign exchange structure “forest”, foreign and domestic debt, etc. The special role of Vietnam’s partnership with Russia is emphasized, which also ensures the country’s economic growth through the development of the oil and gas industry, military and technical cooperation, etc. It is shown that despite all the difficulties, Vietnam maintains the high rate of economic development and has largely determined the trajectory of development in 2016-2020.

This study is dedicated to examining the topical issue of the major directions and prospects in the development of small and medium enterprises in Russia. In the coming years, the development of this economic sector is viewed as an important stabilizing element for the socioeconomic development of the country and its regions under the new economic conditions. The issue of combining competitive advantages with government support is the cornerstone of the dynamic development of small and medium enterprises in the near future. This study devotes considerable attention to the priority tools of government support for small and medium enterprises (based on the Concept of long-term socio-economic development of Russia, the adopted strategy, and the advantages of these subjects of market economy). Aim. This study aims to identify the existing advantages of small and medium enterprises and support their further development at the level of government, regional authorities and organizations included in the support infrastructure. Tasks. This study examines the tools for supporting small and medium enterprises, funding activities within the framework of the existing programs and subprograms. Methods. This study uses general methods of scientific cognition in various aspects to identify trends in the current state and development of government regulation and support of small and medium enterprises in Russia and determines major directions for improvement. The following methods are also used in the systematization of the study material: generalization, analysis and synthesis, which enable logical examination of the collected facts and facilitate formulation of estimations and conclusions. Results. The main activities to ensure prospective development of small and medium enterprises are as follows: financial support, reduction of tax burden, expansion of market outlets, promotion of innovation and reduction of administrative barriers. The entire complex of the above-listed activities allows for the development of new types of activity and contributes to the increase in the number of small enterprises operating across all economic sectors. Conclusion. Examination of approaches government regulation and support of small enterprises makes it possible to identify major tools that show promise in the development of this economic sector, which helps determine specific problems in the regulation of financial investments in the sector as well as factors that lead to beneficial outcomes.

This study is dedicated to expanding the theoretical foundation of the methodology of statistical business process management. Aim. This study aims to develop a methodology for identifying the causes of the sporadic variations in the control charts of the observed business process. Tasks. This study examines the theoretical and methodological material that describes methods for the statistical analysis of business process efficiency; determines the contradictions and weak spots in the application of statistical analysis methods; develops an approach to minimizing the human factor in identifying errors in the implementation of the production and supporting processes. Methods. The tools and methodologies of the study include the tools of economic, statistical and comparative analysis. Results. Statistical business process management methods make it possible to compile an accurate and objective database reflecting the current state of the organization’s buisness process model. Putting such methodological framework into practice, the company gains a competitive edge due to a continuous work cycle aimed at improving the quality of the product. This quintessence allows fulfilling the true purpose of the process management concept, i. e. shifting the focus of economic activity towards the needs of the target audience. However, the theoretical and methodological basis of these methods fails to provide a detailed description of the actions that take place between the stages of control and taking the appropriate measures within the framework of the PDCA cycle theory. Furthermore, the concept of statistical analysis in management involves high expenditure of time, financial and labor resources, hence its rare occurrence in the practical business environment. Conclusion. Breaking down primary business processes to their constituent elementary processes and analyzing them by comparing local extremum points on their control charts makes it possible to minimize the impact of subjective expert assessments and reduce the expenditure of time and labor resources at the stage of analytical measures by reducing the scale of causality search to a particular operational process.

This study examines the major problems associated with the nature and principles of integrated corporate reporting in the global economic space. Aim. This study identifies and systematizes the development of integrated reporting in global practice with the purpose of determining the role of integrated reporting in the system of corporate reporting. Tasks. This study assesses the transparency and quality of reporting in Russian companies. A complex assessment of corporate reporting primarily aimed at creating favorable conditions for the improvement of corporate reporting is required to assess the quality and transparency of corporate reporting. Methods. This study uses general methods of scientific cognition to examine the major directions of integrated reporting development and determine trends in its current state of development. Results. Reports that contain non-financial blocks of data are becoming increasingly popular in the Russian Federation. The Russian Union of Industrialists and Entrepreneurs currently serves as the basis for auditing and verification of non-financial records in Russia. It should be noted that the formation of traditional financial reports is a significant step forward, considering that they are being supplemented by non-financial information and strategic development as well as the environmental and social impact of the company’s activities. Conclusion. According to the PPC statistics, the practice of disclosing information that is important in terms of the concept of “sustainable development” (information on things like staff policy, environmental responsibility, social responsibility, contribution to the development of presence regions, and charitable acts) has acquired popularity among the companies that report beyond the government requirements. Over 139 corporations include such information in their annual reports. Another 27 orporations publish separate special reports dedicated to this subject.

This study substantiates the structural patterns in the development of small enterprises in the process of overcoming regulatory restrictions. Scientific and technical information is a vital resource that makes it possible to tackle sophisticated problems of reliability, security, and technical and technological improvement in the field of production processes. The current level of scientific, technical, and IT development is characterized by a significant and continuously increasing amount of scientific and technical information. Therefore, quantitative characteristics of scientific and technical information flows are regarded as source data for the analysis and assessment of trends in the improvement of research and development. Current mechanisms for handling scientific and technical information are becoming increasingly relevant in the context of the changing international market conditions, implementation of government import substitution policies, and intensification of foreign economic activity of firms. Aim. This study substantiates the necessity of increasing the efficiency of processing and analysis of scientific and technical information by developing and implementing strategic and tactical trends in the development of the subject domain within the framework of the specified planning horizon in the form of foresight. Tasks. This study describes an original approach to examining the trends in scientific and technical development by using specialized information resources. Methods. This study uses general methods of scientific cognition in various aspects and bibliometric analysis methods to examine trends in scientific and technical development through the use of specialized information resources. Results. Managing current arrays of information would be impossible without the use of automated mechanisms for improving the efficiency of processing and analysis of large amounts of heterogeneous and non-formalized scientific and technical information based on the use of foresight tools. Conclusion. Substantiation of the need for improving the efficiency of processing and analysis of scientific and technical information makes it possible to conceptualize new tools for managing current arrays of information. These tools involve the use of information foresight technologies as advanced means of process-tracking automation at various stages of the life cycle of handling scientific and technological information in the context of corporate innovative development program implementation.

The growing importance of human capital as a major factor of sustainable socio-economic development is due to the fact that competitiveness in the modern economy is being increasingly determined by the quality of professional personnel and the degree of their socialization and creativity. Nowadays, governments cannot maintain their competitive positions in the global economy over a long period of time if they use cheap labor and if they do not spend adequate funds for training and continuing education. Therefore, increasing the contribution of universities to the development of local communities, towns, and territories is one of the major goals for the promotion of higher education in the global context. The modernization of Russian higher education that is currently under way, in accordance with the national project called “Education,” includes restructuring the network of higher education institutions among its most crucial tasks. Such a network should be based on sufficiently large, technically equipped educational institutions, which are staffed with qualified personnel and have financial stability. The Southwest State University, located in the Kursk region, is one of the flagship institutions for Russian science and education. It has played a leading role in ensuring sustainable socio-economic regional development. Aims. This study aims to determine the role of a university (utilizing the Southwest State University case) in sustainable regional socioeconomic development, analyze the current state of affairs, and identify strategic directions of regional development provided by the university. Methods. This study uses theoretical and empirical methods; logical and systems analyses; and methods for describing, predicting, and statistically processing the results of the study. Results. The study shows that the Southwest State University (SWSU) is the leading, dynamically developing university in central Russia. It offers a balanced set of programs in the natural sciences, humanities, economics, hospitality, and engineering as well as advanced systems for the training and certification of highly qualified personnel, further vocational education, and pre-university tutoring. All these allow SWSU to provide personnel for many economic sectors and many subsystems within the social sphere of the Kursk region and take an active role in the formation of an innovative regional environment by facilitating the growth of investment attractiveness. It also initiates and coordinates intraregional and transregional entrepreneurial, innovative, academic, and other networks as well as provides scientific and methodological assistance and personnel for the development of regional clusters while being a key agent in the implementation of regional socio-economic policy with the aim of achieving the strategic goals of the region’s sustainable development and establishing foreign economic and international cooperation between the region and the external environment. SWSU takes an active part in the development of the region’s cultural potential, arouses patriotism among the population, and lays the groundwork for environmentally sustainable development of the Kursk region.

This study is aimed at examining the specific features of the establishing regional flagship universities in the country and their impact on the innovative development of the constituent entities of the Russian Federation. Aim. This study identifies the genesis of regional flagship universities as another stage in the modernization of the national higher education and analyze their role in regional development. Tasks. This study determines the stages in the establishment of regional flagship universities and analyzes their distribution across the country’s federal districts. Methods. This study uses general methods of scientific cognition to examine the ongoing changes in the Russian higher education, identifies directions for the implementation of flagship university development programs, and makes proposals for the further formation of a network of regional flagship universities. Results. Over the past 11 years, within the framework of the government policy on higher education modernization implemented in the country, 10 federal universities were established and 29 national research universities were identified. Being powerful modern scientific and educational centers, these universities enjoy a special status with more academic freedom and priority financing from the federal and regional budgets. Therefore, the leading and less developed universities in the country are significantly differentiated, which is why the formation of a network of regional flagship universities that began in 2015 is so important. Conclusion. The purpose of regional flagship universities should be to serve as drivers of socio-economic development of the country’s constituent entities, become modern scientific and educational centers, centers of the formation of innovative regional culture capable of training highly qualified personnel across a wide range of fields according to the requirements of regional economies, and conduct fundamental and applied scientific research for the priority directions of regional development.

This study explores the possibility of using the theory of constraints to ensure sustainable development of enterprises in the housing and utilities sector. Aim. This study aims to examine the methods of the theory of constraints in enterprise management in the housing and utilities sector to ensure sustainable development. Tasks. This study examines the methods for identifying the key problem using the theory of constraints, applies those methods to an existing enterprise in the housing and utilities sector, and assesses the effect of such application using financial analysis methods. Methods. This study uses general scientific and logical methods of cognition, expert assessment methods, and the method of current reality tree building to identify key problems and adverse phenomena that limit the ability of the examined enterprise to ensure sustainable development. A set of measures for minimizing the effects of the identified limitations is developed. Results. A key problem that limits the ability of the examined enterprise to ensure sustainable growth is identified during current reality tree building. The results of this method’s application serve as a foundation for a set of measures aimed at restoring the financial stability of the examined enterprise and ensuring its sustainable development. The efficiency of the developed methods is assessed using financial analysis methods. Conclusion. A set of measures based on the results of current reality tree building leads to restoration of the enterprise’s financial stability. Therefore, application of the described methods of the theory of constraints, particularly in combination with financial analysis methods, appears to be an effective tool for assessing the state of an enterprise and developing subtle managerial decisions.

Southeast Asia plays an important role in Russia’s East Asian economic policy, and the 21st century has brought enhanced cooperation with the countries of the region. These countries have long been in the domain of Chinese and American strategic interests, both of which have attempted to maintain leadership and bind these countries to their national interests. Aim. This study aims to examine economic sectors for Russian investments in Southeast Asia and the conditions required for economic cooperation between the Russian Federation and Southeast Asia. Tasks. This study examines the risks of investment cooperation for Russian companies in Southeast Asia and the internal political situation, state of the economy and finance, and specific features of industrialization of countries of Southeast Asia. It examines the Russian anti-recessionary policy as well as factors and resources to promote economic growth in Russia. Results. Complex analysis of the factors affecting the expansion of trade and investment relations between Russia and Southeast Asia shows the following trends: • Priority sectors for investment cooperation, where Russia can compete with the U.S. and China, are determined • Southeast Asia has been maintaining a high rate of economic growth • Economic restructuring and growth in Southeast Asia continue to depend on the volume of economic aid received from the donor community; therefore, there are debts, including Russian debt • Russia’s trade with countries of Southeast Asia is far inferior to its investment cooperation level; moreover, reindustrialization in the Russian Federation will be required to expand export of goods to Southeast Asia • The countries of Southeast Asia are increasing their import of Russian weapons. Lack of compromise in talks between the Russian Federation and the new U.S. administration has drawn Russia further into a new arms race, adversely affecting Russia’s economic recovery.