Strategic Priorities for the Production of Industrial Equipment in the New Economic ConditionsPavel Savkin, Irina Korchagina
In the face of unprecedented sanctions, Russian industries require a new strategy for industrial equipment production. However, its strategizing in the new conditions require a thorough scientific analysis. This article proposes some strategic priorities for the production of industrial equipment in the modern economic conditions. The research featured enterprises that produce industrial equipment in the Kemerovo Region. The methodology relies on the theory of strategy and the methodology of strategizing developed by Professor V. L. Kvint, as well as on the economic theories about the new normal. The OTSW analysis revealed the key trends in the production of industrial equipment, as well as the possibilities for its development as an object of strategizing. The analysis involved the values and interests of industry stakeholders and the mission of industrial equipment production. Depending on competitive advantages, strategic priorities are divided into first and second order priorities. The priorities of the first order include cluster cooperation and joint projects; an innovative ecosystem based on an open innovation model; strategic synergy of development plans with customers and suppliers. The second-order strategic priorities include the export of products to friendly countries and a complete range of high-quality mining equipment. The results can be used in decision-making by industrial equipment manufacturers, consumers, and regional authorities.