Реализация функций управления дочерними и зависимыми обществами в системе менеджмента ОАО «РЖД»

Abstract

The article considers features of economic relationships between parent and subsidiary companies in large systems. The relevance of such research is determined by the obvious impossibility to achieve planned results from reforms, in particular in Russian Railways JSC management, without changing the management system. The main research purpose is to elaborate criteria for quantitative assessment of the corporate management efficiency and to examine the actual results of managing subsidiaries within Russian Railways. In order to achieve the goal stated, the most applicable theoretical approaches to corporate management have been considered. Moreover, based on the synthesis of different theories, the most common instruments of corporate management have been selected, these including budgeting, controlling, securities transactions, incentive funds, supply chain management. Scientific novelty of the research can be seen in the development of a model for estimating the efficiency of corporate management within the large Russian holding based on comparing results of achieving goals of the parent company and these of each subsidiary business taken separately. It has been revealed that subsidiaries provide working capital and liquidity for the parent company. In the course of research we applied an approach of assessing the resulting indicator based on weight ranking of indicators included in the model, the ranks being assigned taking into account specific features of Russian Railways as a research object. The model testing allowed us to draw the following conclusions concerning corporate management in Russian Railways: the management process is oriented at achieving short term local goals of each entity taken separately, there is lack of an integrated corporate management system; application of monetary management mechanisms leads to decreasing indicators in the periods of recession and unfavorable external environment; the management system is to a large extent based on investment, which is indicative of low quality of management and feedback functions, while these are the basis for the system approach to contemporary corporate management. Keywords corporate management, management functions, subsidiaries management tools, models and methods of management, management of Russian Railways JSC towards subsidiaries, planning, control, economic cycles, railway industry management.