Russian Economic Transformation: Examining Management Strategies for Innovation and Business Growth
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Abstract
Since the collapse of the Soviet Union, Russia has undergone a profound economic transition as it moved from a centrally planned economy to more market-based institutions. This disrupted and reshaped the strategic context for domestic enterprises. This study examines how Russian companies adapted management strategies in areas like strategic planning, organization, talent, technology, and globalization to drive innovation and growth during post-Soviet economic reform. Through comprehensive analysis of academic literature and comparative case studies, findings shed light on management innovations undertaken by leading Russian firms to become more competitive amid liberalization. While strategic changes were gradual and uneven, enterprises leveraged market-driven planning, decentralized structures, advanced technologies, talent development, and global integration to aid successful transition to the new competitive environment. However, aspects of Soviet institutional legacies, like nepotism and risk aversion, continued to constrain strategic adaptation. The study highlights lessons from Russia's experience for enterprises undergoing transformational institutional shifts in emerging economies worldwide. Future research can further examine Russian firms' strategic evolution as the country continues developing into an innovation economy integrated into global networks. With economic transition still ongoing, Russia provides management scholars a rich context for examining organizations adapting to demands for strategic agility, entrepreneurship and globalization after decades of centralized planning.
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Last updated: 05-02-2023