Principles of corporate governance as the basis for the formation of the strategic advantage of enterprises in the construction industry

Abstract

The classical interpretation of the principles of corporate governance in terms of effectiveness is important for understanding the economic essence of the management system and its evaluation. Constantly changing socio-economic, epidemiological and geopolitical conditions make the problem of updating the principles of corporate governance important for the clarification of the requirements to be met to ensure a strategic advantage in the construction industry and to maintain competitiveness in the course of the life cycle of an investment construction project and in the process of the long-term construction facility operation. This statement is quite logical, because the focus of the economic science on understanding the principles of corporate governance is especially strengthened during periods of interphase cyclical transitions, triggered by the activation of an economic reform, accompanied by an increase in the uncertainty of business conditions. The project format of modern investment and construction activities becomes the dominant form of its implementation due to the high potential of integration with targeted federal and regional programs and as a result of the adequacy of the task of resource management at each stage of the project life cycle, which in turn allows to effectively allocate resources in time and space.