Import Substitution as a Strategic Means for Ensuring the Sustainability and Competitiveness of the Russian Companies
Inna Shor1, Grigory Mikhailovich Kalashnikov2, Vyacheslav Anatolyevich Klochikhin3, Ksenia Andreevna Shvetsova4, Vladimir Viktorovich Novikov5
1Inna Shor*, Volgograd State University, Volgograd, Russia.
2Grigory Mikhailovich Kalashnikov, Academy of Management of the Ministry of Internal Affairs of Russia, Moscow, Russia.
3Vyacheslav Anatolyevich Klochikhin, Academy of Management of the Ministry of Internal Affairs of Russia, Moscow, Russia.
4Ksenia Andreevna Shvetsova, Academy of Management of the Ministry of Internal Affairs of Russia, Moscow, Russia.
5Vladimir Viktorovich Novikov, Academy of Management of the Ministry of Internal Affairs of Russia, Moscow, Russia.
Manuscript received on September 16, 2019. | Revised Manuscript received on 24 September, 2019. | Manuscript published on October 10, 2019. | PP: 3793-3797 | Volume-8 Issue-12, October 2019. | Retrieval Number: L3828081219/2019©BEIESP | DOI: 10.35940/ijitee.L3828.1081219
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In terms of the modern geopolitical and economic realia, import substitution is one of the strategic means for ensuring sustainability and competitiveness of Russian companies. Import substitution is a state program, and a special government commission is responsible for the monitoring of its implementation. However, the results of this program that are currently obtained do not provide an insight into its potential. This research aims to devise recommendations for improving the import substitution program as a strategic means for ensuring the sustainability and competitiveness of Russian companies. In this research, we have used the systematic approach, statistical analysis, and the dialectical method of cognition. The article provides a complex analysis of statistical data on the results of the import substitution program implementation in the Russian Federation on the example of the Volgograd region. Consequently, this analysis has enabled us to devise suggestions on how to increase the efficiency of the aforementioned program in order to ensure the sustainable and competitive development of Russian companies. We have come a conclusion that it is crucial to reach a balance between import substitution and export-orientation since it will help eliminate some disadvantages of import substitution and, consequently, help overcome the limitations of the domestic market, create new production facilities, optimize business processes, and decrease the volume of monopoly and corruption.
Keywords: Import Substitution, Company, Sustainability, Competitiveness, Export-Orientation.
Scope of the Article: e-business