Strategic analysis of mining and metallurgical companies: consideration of socio-environmental factors

A. E. Nevolin () and A. E. Cherepovitsyn ()

Russian Journal of Industrial Economics, 2024, vol. 17, issue 1

Abstract: The strategic development of mining and metallurgical companies is currently largely related to the development of social policy and maintaining high responsibility of the business towards its employees and ecosystems. The strategic goals of companies should be aimed at the environmental modernization of production, ensuring, among other things, the reduction of emissions of harmful substances and greenhouse gases. The development of low-carbon technologies, compliance with modern environmental requirements, and the achievement of a high level of social responsibility are both areas of strategic development and opportunities for the formation of new competitive advantages. The purpose of the work is to adapt the methods of strategic analysis to modern environmental and social trends to set the current strategic goals of mining and metallurgical companies in terms of increasing attention to the social responsibility of business and the implementation of green production and low-carbon development. The study substantiates the increasing role of environmental and social factors of sustainable development in the activities of mining and metallurgical companies. Using MMC Norilsk Nickel as an example, the main environmental-oriented areas of the company’s development are identified, and the issues of social policy are also reflected. An algorithm of strategic analysis for the specifics of mining and metallurgical companies is proposed, suggesting the use of classical methods of strategic analysis and goal setting with the use of VRIO-analysis methodology, which in turn will allow to identify sustainable competitive advantages associated with the achievement of environmental and climatic objectives and increased social responsibility.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2024:id:1239

DOI: 10.17073/2072-1633-2024-1-1239

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