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Financial Analytics: Science and Experience
 

A mechanism for benchmarking implementation in the system of strategic management of an enterprise for sustainable development purposes

Vol. 8, Iss. 24, JUNE 2015

PDF  Article PDF Version

Available online: 30 June 2015

Subject Heading: Economic policy

JEL Classification: 

Pages: 2-15

Geras'kina I.N. Ogarev Mordovia State University, Saransk, Republic of Mordovia, Russian Federation
geraskina82@mail.ru

Importance The main problem of the current economic situation in Russia is to achieve global competitiveness and sustainable growth of key industries. A solution to this problem is associated with strategic projects for innovative development of enterprises, where the central place should be given to strategic benchmarking.
     Objectives The study aims to build a mechanism to introduce benchmarking in the strategic management system of an enterprise. The mechanism focuses on continuous improvement of business processes and sustainable development of the managed object.
     Methods I used the methods of economic research (observation, modeling, scientific abstraction, analysis, synthesis, and systems approach) to identify various aspects of strategic benchmarking, its role as one of control parameters of the socio-economic system, and as an object under the priority areas of science, technology and engineering development.
     Results I emphasize the specifics of the strategy that rests on the benchmarking results, as well as principles and reasons constraining its full-scale application. The article presents the process of benchmarking implementation in the enterprise management, and a model of making strategic decisions of the enterprise based on benchmarking. Following the research results testing, I offer a strategic solution for industrial enterprise Orbita, i.e. implementation of a new automated control system to provide managers with timely and reliable information.
     Conclusions For domestic high-tech industries, it is important to devise a benchmarking development strategy identifying the key areas of breakthrough and synergies.

Keywords: sustainable development, benchmarking, strategy, business process, marketing environment, strategic decision

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