Abstract
This paper asserts that the issue of change of power in a corporate management configuration is quite urgent; it emphasizes that corporate management should identify the right combination of social interests and corporate business interests within the context of social, economic, and political processes currently taking place in Russia. The pandemic and digitalization exert a profound influence upon those processes; the paper states the fact that the Russian practice of corporate management – how decisions are made and how their execution is controlled – is characterized with a low quality, owing to the practice of “manual management” that prevails at all the hierarchical levels. The main idea of this article is that Russian managers should gradually substitute the traditional hierarchy with a “natural” one, when one’s authority depends not on their official position, but on their contribution to work, when special emphasis is placed on self- control, on establishment of a horizontal control system based on the Agile approach. Managers ought to realize that they should adopt new business models by integrating cutting-edge technologies (digitalization and other forms of work) in all the aspects of their corporate business activities.
Highlights
The world will undergo substantial changes in the post-coronavirus era, and the national economy will endure a heavier recession
This paper asserts that the issue of change of power in a corporate management configuration is quite urgent; it emphasizes that corporate management should identify the right combination of social interests and corporate business interests within the context of social, economic, and political processes currently taking place in Russia
The pandemic and digitalization exert a profound influence upon those processes; the paper states the fact that the Russian practice of corporate management – how decisions are made and how their execution is controlled – is characterized with a low quality, owing to the practice of “manual management” that prevails at all the hierarchical levels
Summary
The world will undergo substantial changes in the post-coronavirus era, and the national economy will endure a heavier recession. The main issue of corporate management in Russia will remain as urgent as today: the model of efficient management of any corporation must be determined, first and foremost, with such top-priority factors as orientation towards social aspects related to a complete unleash of corporate human resources’ intellectual potential, stimulation of processes of self-organization and creativity; flexibility of internal mechanisms of corporate management and its compliance with the adopted strategy; adaptability and sensibility to permanent changes in the external environment [1]. Assessment of impact exerted by digitalization upon the formation of corporate strategies and new business models of present-day corporations is quite a topical issue
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