Management efficiency in conditions of political and economic turbulence

D. A. Guryanova () and V. A. Plotnikov ()

RSUH/RGGU BULLETIN. Series Economics. Management. Law, 2024, issue 2

Abstract: The article considers discusses the issues of effective business conduct in conditions of growing uncertainty in the business environment. In recent years, that uncertainty has increased sharply, which is determined, in particular, by two successive macroshocks (pandemic, 2020 and sanctions, 2022), which gave rise to poorly predictable changes in the Russian economy. The authors define the situation as political-economic turbulence. Political and economic turbulence in general negatively affects the efficiency of management in the economy, which is confirmed by available statistical data. At the same time, there are numerous counterexamples when, even in a turbulent environment, due to effective management it is possible to obtain high results in economic activity. It is shown that the current economic conditions require a revision of management approaches. Renewed management must be focused on protecting against the risks caused by turbulence, while at the same time taking advantage of the new opportunities it generates. In that regard, it is recommended to more actively use the project approach in management. The formation of a portfolio of projects balanced in terms of risks and performance allows economic systems to successfully function and develop even in conditions of political and economic turbulence.Â

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aca:journl:y:2024:id:566

DOI: 10.28995/2073-6304-2024-2-70-84

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