Problems of Risk-based Management as a Factor in Ensuring the

Strategic Development and Competitive Sustainability of Russian

Organizations under Current Conditions and the Ways to Solve

Them

Aleksandr Kiselev

1,2

, Marina Ugryumova

, Anna Strausova

and Marina Mayorova

Yaroslavl State Technical University, 88, Moskovsky Avenue, 150088, Yaroslavl, Russia

Yaroslavl Branch of the Financial University under the Government of the Russian Federation, 12a, Kooperativnaya Str.,

150003, Yaroslavl, Russia

Keywords: Risk, risk management, risk control, risk-based approach to management, strategic development, competitive

sustainability of the organization, risk-based management.

Abstract: With the transition of Russia to a market economy, Russian organizations tried to learn from the experience

of foreign organizations in a competitive environment, while being more open about their plans and actions,

that then often led to serious problems in effectiveness of their activities. Foreign organizations saw the

increasing competitiveness of Russian organizations as a threat to their competitive sustainability and tend to

be put in a position to affect the activities of Russian organizations in a way that would benefit them. At the

same time, foreign organizations are supported by their states, which in order to “damage” competitive

sustainability of Russian organizations, successfully operating in the world market, both by economic

methods in the form of sanctions, and by political methods, depriving Russian organizations of advantageous

foreign contracts for “artificial” reasons. Another important risk factor for loss of competitive sustainability

of domestic organizations is represented by current problems in the domestic economy and the orientation of

many Russian organizations only on “today’s” results, which leads to problems of their strategic development

and long-term competitive sustainability. This paper shows the problems of ensuring the competitive

sustainability of Russian organizations in current conditions, which affects their strategic development, and

possible ways to solve them using risk-based management. The formulation of such recommendations was

based on an analysis of the current competitive sustainability situation of domestic organizations and their

experience in operating in a market environment, as well as substantiating the essence of risk-based

management as a scientific category of the domestic science of organization management.

1 INTRODUCTION

The current situation in the world economy is subject

to rapid and dramatic changes, affecting the

performance of Russian organizations. Today

Russian organizations can work successfully only

when they are able to maintain the necessary level of

competitive sustainability. But it is quite difficult to

do so, firstly, in difficult external conditions

associated with the activities of other competitor

organizations, the policy of economic and political

sanctions by the United States and Western countries

against Russia and Russian organizations, and

secondly, in difficult internal conditions, which are

due to human, technological and organizational

factors that carry multiple risks of loss of competitive

stability of organizations. Consequently, for Russian

organizations “in order to achieve stable economic

growth today, it is fundamentally important to expand

sources of competitive advantages through

innovation, intellectual business” in order to achieve

their strategic development (Works.Doklad). But it

should be understood that the introduction of

innovations in organizations without a serious

analytical assessment and the need for their

implementation can also result in an increased risk of

losing certain competitive advantages.

Undoubtedly, all of this makes the work of

Russian organizations in modern conditions quite

risky, since they are constantly faced not only with

unforeseen circumstances, but also with the risks of

"non-market" actions by foreign organizations,

Kiselev, A., Ugryumova, M., Strausova, A. and Mayorova, M.

Problems of Risk-based Management as a Factor in Ensuring the Strategic Development and Competitive Sustainability of Russian Organizations under Current Conditions and the Ways to

Solve Them.

DOI: 10.5220/0010695800003169

In Proceedings of the International Scientiﬁc-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" (SES 2021),

pages 165-171

ISBN: 978-989-758-546-3

165

affecting their competitive stability. As a result,

among Russian researchers and practitioners, the

effectiveness of managing organizations in such

conditions has become connected to a risk-based

approach. However, they began to call it risk

management, risk control and now risk-based

management. It is indisputable that any management

activity is already a priori associated with the need to

take into account the various risks that could

negatively affect the performance of the

organizations, and result in the high level of

performance and a stronger competitive position in

the long term. Thus, today there is a need to consider

in a scientifically sound manner risk-based

management as a factor in ensuring the necessary

level of competitive stability of Russian organizations

in the modern conditions of “bad faith” competition

from foreign organizations and, consequently, their

strategic development.

The relevance of the analyzed issue is determined

by the fact that in current conditions it is risk-based

management that becomes the most important factor

in ensuring the necessary timely competitive

sustainability of Russian organizations and,

consequently, their strategic development. The pap

defines the problems associated with approaches to

define the essence of risk-based management as a

scientific category and ways to ensure Russian

organizations with the competitive sustainability they

need.

2 MATERIALS AND METHODS

To study the problem of risk-based management, a

review of scientific publications on the subject is

undertaken, analytical and statistical information on

the performance of domestic organizations in the

context of economic sanctions and ensuring their

competitive sustainability is studied, Interviews with

specialists of various levels of management in

organizations of the real sector of the economy of

Yaroslavl region as one of the developed industrial

regions of Russia are conducted. Research materials

on this topic are repeatedly presented for discussion

at various scientific and practical conferences and

“round tables” conducted jointly by researchers and

practitioners from organizations.

3 RESULTS AND DISCUSSION

It seems clear to everyone that under market

conditions Russian organizations need to be able to

constantly “fight” for keeping their competitive

sustainability. But there’s always the question of how

to do it.

Unfortunately, various Russian researchers give

different notions of the competitive sustainability of

organizations, which makes it difficult to formulate

recommendations on how to provide it to Russian

organizations in practice. For example, A.A.

Alekseyev describes the competitive sustainability of

an organization as a complex characteristic of the

state of an organization, formed by many external and

internal environmental factors that determine the

strategic success of an organization. A.E. Putiatin

defines the competitive sustainability of an enterprise

as an economic potential, as well as its efficient use,

together with innovation activity in comparison with

the main competitors in the market. JI.P. Rachek

defines the essence of an competitive sustainability of

an organization in the ability of an enterprise to

withstand external influences by changing the

qualitative properties of economic efficiency by

increasing added value, balance of resources and

processes in the forward-looking development of the

organization. S.R. Bondarev believes that the

competitive sustainability of an organization is

identified by a combination of competitive

advantages to develop a competitive development

strategy for the organization. S.V. Sharovatov under

the competitive sustainability of the organization

suggests to consider its ability to achieve balanced

economic development and to strengthen its

competitive position in the context of the

development of the industry market. E.N. Bogdanov

defines the competitive sustainability of an

organization as a function of a stable operating and

evolving organization, influenced by a disturbed

competitive environment, which manifests itself in an

optimal balance of criteria and sustainability factors

and changes over time, etc. (Bogdanov, 2015). In our

opinion, the keyword in the analyzed concept is the

word “sustainability”, which in dictionaries is

interpreted as the ability of the system to maintain the

current state under the action of external influences

(Kartaslov). At the same time, it is more appropriate

to define the ability as an opportunity: organizational,

material, resource, etc. Consequently, under the term

“competitive sustainability” of the organization we

mean the possibility of the organization to maintain

its position in the market, reacting in a timely manner

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to the actions of competitors and changes in the

external environment.

It should be noted that, under current conditions,

the activities of Russian organizations are associated

with many risks that arise from various uncertainties,

both the external and internal environment of the

organization. Uncertainty and risk are the relative

unpredictability of the future business environment,

the organizational environment, which most often

results in additional material and financial costs

(losses) in their operations. As a result, organizations

are increasingly focusing on monitoring and

preventing the negative impact of risks in their own

development activities (Kiselev, 2021). But it is

worth mentioning that organizations must take

deliberate risks in order to achieve better results and

maintain their competitive positions. Therefore, the

most important part of management activity in

Russian organizations is its risk-taking nature. The

problem is compounded by the fact that the market

mechanisms of competition are now being

“corrected” by force and political methods by United

States and a number of Western European countries

to eliminate “unnecessary” competitors in the form of

Russian organizations. And the risks of such unfair

competition on the part of these states become a

“conspiracy” against Russia. German Chancellor A.

Merkel at the Congress “For a future-oriented

transatlantic partnership” said about the necessity of

influence on Russia and its economy so: “Only

together with the USA can we participate effectively

in globalization, we are much stronger if we share

common positions” (News.mail.ru).

Concerning external factors affecting the

competitive sustainability of Russian organizations, it

should be noted that many researchers believe that “in

modern conditions, most industrial enterprises, often

possessing unique technologies with huge material

and technical base, have become not only

uncompetitive in modern market economy, but have

lost the accumulated intellectual and innovative

potential (Works.Doklad). Unfortunately, to some

extent it can be accepted. Even Gazprom, the largest

Russian company, uses imported equipment and

machinery to support its activity. And, for example,

in 2012 Gazprom encountered a forced remote

shutdown of Austrian LMF compressors on its

pipelines, which shows that foreign organizations,

suppliers of equipment for Russian organizations,

may disrupt the work of Russian organizations

(RBC). Therefore, Russian organizations, using in

their activity equipment produced by foreign

organizations, can at any moment lose the necessary

level of competitiveness at the “wish” of foreign

suppliers of equipment, becoming dependent on

them. And Russian President Vladimir Putin

announced an import substitution strategy. Statistical

data show that, in implementing the Program to

Ensure Import Substitution of Russian Industry,

which has been implemented by the Russian

Government since September 2014, full import

substitution in Russia has unfortunately not yet

occurred. In 2020, according to the Ministry of

Industry of the Russian Federation, every second unit

of oil and gas equipment on the Russian market was

produced in the Russian Federation. However, the

Russian Federation’s share of oil and gas equipment

imports was about 40%. The share of imported

equipment used to increase oil recovery, including for

the drilling of inclined and horizontal wells has fallen

to 61%, and that of refinery equipment to 49%,

equipment for the production of liquefied natural gas

and for offshore projects - up to 67.8%, geological

exploration equipment - up to 48% (CDU).

Consequently, an important indicator for Russian

organizations will be the share of import substitution

and the support of the state for their activities on the

world market.

At the same time, it should be borne in mind that

today the competition for the consumer is not only at

the level of quality or price of the product and the

ability of organizations to offer a new consumer

characteristic embodied in the product or service, but

also at the level of using political and power pressure

from stronger states like the USA on other states to

develop their national economies. Russia, which has

serious resource potential for developing its

economy, is no exception. A clear example of this are

the actions of the USA and a number of European

states aimed at disrupting the construction of the gas

pipeline “Nord Stream-2”, the organization by the

Czech leadership of a diplomatic scandal, related to

the expulsion of Russian diplomats from the country

on absurd charges of involvement of Russian special

services in the explosion of ammunition depots as

early as 2014 only to prevent the delivery of Russian

vaccine “Sputnik V” and exclude the possibility of

concluding a large contract with Rosatom for the

nuclear plant construction, and the European

Parliament in general proposed to disconnect Russia

from SWIFT, as well as renounce Russian oil and gas

(RBC). In most cases, this is done for benefits of the

USA at the expense of the interests of the Russian

economy and Russian organizations. In other words,

Russian organizations are now being actively targeted

in the field of ensuring their competitive

sustainability along with economic and political

measures to reduce the competitiveness of Russian

Problems of Risk-based Management as a Factor in Ensuring the Strategic Development and Competitive Sustainability of Russian

Organizations under Current Conditions and the Ways to Solve Them

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organizations. At the same time, USA sanctions can

be imposed at any convenient time, despite the fact

that all issues of joint activity can be agreed upon and

agreements concluded between Russian and foreign

organizations. This was the case, for example, when

frightened of American sanctions, the Swiss company

Allseas refused to proceed with the construction of

the gas pipeline “Nord Stream-2” (BFM). And such

unforeseen risks in the activities of Russian

organizations from foreign states and organizations

are becoming more and more, which carries

increasing threats of loss of fair “won” Russian

competitive positions. On April 21, 2021, the

President of the Russian Federation, in a message to

the Federal Assembly, compared Russia’s enemies to

the heroes of Kipling’s story, noting that some are

clinging to the Russian Federation for no reason and,

like Tabaki, howling to appease their sovereign (IZ).

There is no doubt that in such difficult circumstances

Russian organizations must “restructure” their

activities to external conditions and make changes in

their own business and production activities in order

to ensure their competitive sustainability. As a

consequence, Russian organizations are now obliged

to ensure that, in such a difficult environment created

by foreign states and organizations, the necessary

level of competitive sustainability is maintained,

allowing them to successfully overcome the emerging

risks, seeking to find new management approaches

for this. As a consequence, Russian researchers began

to consider the risk management system that exists in

foreign organizations as an increase in the efficiency

of Russian organizations, often calling it the “Russian

way” risk management system.

The risk management system is really actively

applied in the activities of foreign organizations, as in

the world of business it is easy to “go to the bottom”

due to force-majeure, unscrupulous counterparties or

unfavourable market situation etc. As a result, risk

management, which is a regular activity in foreign

organizations, is aimed at monitoring and preventing

dangerous situations of their own development - risks

and ensuring competitive sustainability in the long

term. For example, in analyzing and interpreting the

annual performance of foreign organizations in an

explanatory note to the balance sheet, it seems

necessary to highlight the risks of their future

development. The responsibility for this analysis lies

with the expert observers who assess whether all

officials are fulfilling their tasks of using the

resources at their disposal to achieve the

organization’s competitive advantage and whether

the organization’s monitoring and control system is

functioning effectively. The starting point of the risk-

management process in this case is to define and link

all business objectives and to establish the boundaries

necessary to identify risk in terms of its suitability for

successful business development, and, finally, the

identification and development of measures to avoid

or reduce negative impacts on the work process and

performance of organizations (Kiselev, 2021). As a

consequence, in foreign organizations, risk

management refers to the activities of certain

professionals - risk managers who, as specialists in

certain fields of activity, assess management

decisions from the perspective of certain risks,

calculate the consequences of the risks that the

organization is intentionally taking in order to get the

best result, and prepare proposals to managers to

reduce the negative consequences of possible risks

from competitors and partners. Unfortunately,

Russian organizations often still operate on the

principle: “The main task is to close the year, and

there we will see”. At best, in Russian organizations

we are talking about crisis managers to solve the

problem of getting organizations out of crisis

situations. Therefore, Russian researchers, speaking

about the need for risk management, most often

consider only methods for assessing possible risks

and the need to use a risk-based approach in making

management decisions. For this reason, the

establishment of risk management services in Russian

organizations can be considered as still exotic

(Kiselev, 2021). And it is in this that one can see the

weakness of the activities of many Russian

organizations in relation to foreign organizations,

since what Russian organizations consider

advantageous in cooperation with foreign

organizations today, in the long run, it may be more

difficult to achieve the right level of competitive

sustainability. It’s like in chess. One of the players

can “expose” and give several pieces to the opponent,

which will please the other player as he will consider

it his success. However, this can be done knowingly

by the first player, due to the the chosen strategy he

creates favorable conditions for his losing in the long

run. In such conditions it is important to manage

organizations from a risk based perspective.

But when we say that the competitive

sustainability of an organization should ensure

strategic development, such management in Russian

organizations should be systematic and continuous.

Consequently, in this context, researchers

characterize governance in Russian organizations as

risk-based management, which aims to ensure that

organizations have the right level of competitive

sustainability.

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It is important to note that in defining the essence

of the competitive sustainability of organizations,

Russian researchers often relate it to strategic

components. For example, a number of researchers

believe that “if an organization’s competitive

advantage is protected from competitors, they form

the “strategic capacity of an organization” under

which, as a rule, understand the totality of resources

and capacities available to develop and implement an

organization’s strategy. Accordingly, a strategy based

on the enterprise’s strategic potential will be more

successful, as it is more competitive and durable”

(Works.Doklad). Others believe that “strategic

management of an organization’s development is

about modeling, the ability to identify the need for

change, the design of the strategy itself, and the

ability to implement the strategy in life. However,

strategic management is the framework for action

needed to achieve the objectives, often with limited

resources. Moreover, the organization's strategy

consists of both deliberate, purposeful actions and

actions that are a reaction to an unforeseen

development of events” (PSYERA). As a

consequence, Russian researchers and experts are

concerned with improving the management of

organizations from a risk-based perspective approach

to the strategic development of organizations and the

building of their competitive sustainability on that

basis (Andreeva, 2010). And it’s the right thing to do.

But by strategic development they often mean some

long-term indicators or the development of the

strategy of the organization in the form of some

“master plan”, as well as “no form” strategic

management of the organization, since management

is management (Kiselev, 2020).

However, an organization’s strategy is always

linked to the actions of competitors and is defined as

the general idea of ensuring (achieving) the right level

of the organization in a timely manner. Our analysis

of the problem leads us to believe that strategic

development does not imply something distant in

time, but rather the need for a timely and adequate

response to changes in actions by competitors seeking

to “move” an organization on the market and

adequate response to such actions (Kiselev, 2012). In

other words, it is connected with the necessity of

immediate reaction on the principle “here and now”

on emerging, including unforeseen risks. At the same

time, in developing measures to mitigate the negative

impact of risks arising from the actions of

competitors, the organization itself is often forced to

take risks. Otherwise, the organization may lose its

competitive position. For example, the organization

decided to start the production of fashionable summer

shoes which is in demand in the market in late May.

However, there were competitors who decided, in

view of consumers' desire to buy such shoes, to

organize their activities so that their production would

begin in mid-May. As a consequence, the first

organization, if the product is released on schedule,

does not realize its plans, so consumers will already

satisfy their demand for this product. Thus, the former

organization, taking into account the plans of

competitors, should preact them in releasing their

products in order to get the planned profit and the

possibility of further successful work. This requires

the organization to develop and implement a

competitive strategy that will enable it to maintain its

competitive strength and thus its ability to develop

strategically.

By studying the theoretical aspects of the studied

problem and how it is solved in practice, it is possible

to identify the main ways of solving it. The most

important direction in ensuring the strategic

development of Russian organizations and ensuring

the competitive sustainability of Russian

organizations is the implementation of an import

substitution strategy and the engagement of Russian

organizations with an appropriate level of

sustainability in the world market. As early as 2015,

E. Okisheva noted that Russian producers often do

not have a scientific and production base (e.g.

intellectual capital) and do not have service centers in

Russia, which negatively affects the implementation

of the import substitution strategy. At the same time,

the share of imported equipment on the territory of

Russia as of 2015 reached 80% and more. And a

number of organizations which were positioned as

“Russian producer” were organizations with a very

small share of domestic components, or at all realized

“hardback production” (RusCable.ru). But the

strategy of import substitution is a strategy of catch-

up, therefore it should lead not just to the

establishment of the production of domestic products,

but to production at a high competitive level of the

most modern Russian production. To organize the

production of products capable of supplying foreign

counterparts, enterprises need state support. Today, as

a result of such support, the share of imported

equipment on the territory of Russia began to

decrease.

The Russian government planned to replace

imports with domestic counterparts, but contrary to

these expectations, the number of Russian

organizations willing to refuse imports is declining.

This has been demonstrated by surveys of industrial

managers conducted over the past three years. Thus,

in 2015, 30% of Russian organizations were ready to

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forego the purchase of imported equipment, and in the

fourth quarter of 2017 remained only 7%. Similar

trends are for raw materials: Three years ago, 22% of

respondents reported plans to convert to domestic

analogues, and last year this percentage fell to 8%. At

the same time, the main obstacle to import

substitution remains the lack of production in the

territory of the Russian Federation of the necessary

equipment, components and raw materials, noted in

monitoring. The second problem is the poor quality

of domestic products. However, these problems are

worsening: in 2015, 62% of respondents stated that

they could not stop purchasing imported equipment

because Russia did not produce analogues, and in

2017, 69% of respondents said so. In 2015, 35% of

those surveyed complained about the poor quality of

Russian equipment and raw materials, and in 2017,

37%. These factors remain virtually unchanged today

(Upravleniye-Zakupkami). Thus, according to

customs statistics, Russian imports in January-

December 2020 amounted to 233.7 billion US dollars

and decreased by 5.7% compared to January-

December 2019. At the same time, the share of non-

CIS countries accounted for 89.3%, for the CIS

countries - 10.7%. Machinery and equipment

accounted for the largest share in the merchandise

composition of imports - 47.6% (46.1% in January-

December 2019) (ALTA-SOFT). This situation still

allows foreign competitors to influence the efficiency

of Russian organizations by prohibiting or reducing

deliveries of products that are not produced in Russia.

It is especially true of high-tech machines and

equipment. Thus, only by fully implementing the

state import substitution program, the Russian

organization will rule out the risks of blackmail and

reneging on agreements as a result of declared

economic sanctions by foreign companies and states,

ensure their competitive sustainability.

The risks of the internal environment in Russian

organizations are related to human, organizational

and technological factors. And Russian researchers

tried to solve the problems of internal environmental

risks by introducing control and management

accounting. However, the problem has proved to be

quite complex, especially in relation to the human

factor. In the course of the study, we have come to the

conclusion that the time has come to say that today,

as a crucial factor in the formation of the competitive

stability of Russian organizations, there is scope for

compliance control.

Compliance is an internal system of measures of

the organization aimed at preventing violations of the

law, preserving the reputation of the organization,

identifying risks, evaluating them and proposing

measures to reduce the negative consequences of their

occurrence, establishing common rules and standards

of conduct both within the organization and with

competitors. Generally, compliance is a rule that

deals with the preservation of reputation and assets of

a business. They help to avoid problems with

regulators responsible for keeping the cleanliness of

doing business by economic entities

(Blog.Calltouch). Compliance should not be

confused with internal rules and operating procedures

of the organization, with management accounting,

control, etc. Its task is to keep the activities of the

organization’s employees within the framework of

the legal environment, including eliminating

corruption in their activities, which is important for

Russian organizations. It is supported by the mass of

reports in the media about corruption in organizations

and on the part of officials at various levels. For

example, corruption became a major threat to the

national project “Sochi-2014”, as all competitions for

participation in the construction of Olympic facilities

were won by organizations having “friendly”

relations with officials. For example, the competition

“on the construction of the first stage of the cruise

center in the framework of preparation of Sochi for

the Olympics-2014”. Inzhtransstroy Corporation was

chosen as its contractor, which promised to

accomplish the task for 2.561 billion rubles, although

another organization for the same work asked for 250

million rubles less (Vavilon-plen). In 2006-2009,

during the construction of the Vostochny

cosmodrome using advances on 11 state contracts for

purposes unrelated to the construction of

cosmodrome objects, the damage was caused to the

Russian Federation in the amount of 5.2 billion

rubles. By the end of 2017, 13 people had been

convicted in criminal cases following construction

inspections by prosecutors. But in January 2018, the

Center for operation of space ground based

infrastructure (TsENKI) discovered a new theft

during the construction of the Vostochny

cosmodrome totaling 7.6 million rubles. The fraud

was carried out by the organization's employees in the

supply of equipment and materials for the

construction of the launch and technical complexes of

the cosmodrome (RIA News). And this is only in the

implementation of large projects of all-Russian scale.

In this case, the active application of compliance

control in Russian organizations will make it possible

to redistribute information flows and management

templates in such a way as to minimize the risks to

the organization caused by the incorrect behavior of

employees, responsible persons and managers, and

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ensure the organization’s proper external appearance

and image (Blog.Calltouch).

In our country, compliance control is already

being introduced into the business culture not only by

the state in the form of its own rules and laws, but also

in the framework of the self-regulation of market

actors. Since 2012, Russia has had a separate National

Compliance Association, founded on the basis of

unfavorable market conditions, and the Compliance

was to prove itself as the most effective strategy for

the development of organizations. Unfortunately,

today it is rare in which Russian production

organizations there is such a thing at all, and if there

is such, it is more often just “declared on paper”. Of

course, the Russian compliance control system may

be perceived as awkwardness and too costly for

organizations. However, if the compliance control

organization is subject to transparency and other

generally accepted standards and on the basis of

scientific advice, this not only enhances the

reputation of the enterprise, but can also be classified

as one of the most valuable assets (Works.Doklad).

Thus, having solved two risk-based management

problems, firstly, related to the active solution of

import substitution problems, especially in the high-

technology sectors of the economy and the production

of equipment needed by Russian organizations, and

ensuring competitive stability in relations with

foreign organizations, and secondly, the introduction

in each organization of a real working system of

compliance control, Russian organizations can

confidently realize their development strategies,

considering the constant changes in the market and,

consequently, new and emerging risks, while

maintaining its competitive sustainability.

4 CONCLUSIONS

Today, risk based management problems have

become clear and need to be addressed by Russian

organizations in the context of modern competition.

The topic is broad enough and require serious

scientific consideration. In this paper we have only

identified several key areas that can serve as a basis

for scientific discussion on the application of risk-

based management in Russian organizations, which,

in a volatile market environment and often unfair

competition from foreign competitors, can help to

ensure that Russian organizations have the

competitive sustainability they need, and allows to

speak about the possibility of organizations to their

strategic development, that is, to gain a better position

in the market relative to competitors, primarily

foreign, avoiding or minimizing the negative

consequences of risk. At the same time, risks related

to internal factors in Russian organizations can be

successfully solved by creating an active system of

complementarity and control.

The time has come, therefore, to address these

issues from a scientifically sound perspective, so that

Russian organizations receive such guidance on the

use of risk based management, which could be used

effectively in the practical activities of Russian

organizations.

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The meaning of the word “sustainability”.

https://kartaslov.ru/

Kiselev, A.A., 2021. Risk management. M.: KnoRus. p.

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Merkel announced a change in the balance of power in the

world because of Russia. https://news.mail.ru/

Imported equipment of Gazprom was forcibly turned off via

satellite. https://www.rbc.ru/

The revival of the oil and gas equipment market.

https://www.cdu.ru/

The European Parliament adopted a resolution calling for

Russia to be disconnected from SWIFT.

https://www.rbc.ru/

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What is compliance and what it is for.

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Problems of Risk-based Management as a Factor in Ensuring the Strategic Development and Competitive Sustainability of Russian

Organizations under Current Conditions and the Ways to Solve Them

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