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        Implementation of the Blue Ocean Strategy Using Simulation: Firm-Level Evidence from Russian Steel Market

        Marina V. Vasiljeva,Vadim V. Ponkratov,Nikolay V. Kuznetsov,Maksim S. Maramygin,Irina V. Osinovskaya 대한산업공학회 2019 Industrial Engineeering & Management Systems Vol.18 No.4

        This paper reports a methodological approach to quantitatively assess the effectiveness of the Blue Ocean Strategy inthe Russian steel market that makes the competition irrelevant. Based on the simulation method, qualitative and quantitative dependencies are determined between firm economic performance and the implementation of the Blue Ocean,Red Ocean, and Monopoly strategies. It is shown by the example of the Russian steel market that Blue Ocean Strategyenables to get a significantly higher level of profit for the enterprise as compared to the implementation of the RedOcean Strategy, even in a monopolistic market. This is provided by creating innovative value, manifested in the minimization of social losses in the market, ensuring the possibility of establishing a higher market value while reducingproduction costs. The results of the paper may serve as an aid to the effective development of small and medium-sizedbusinesses by providing a sound quantitative framework to quantify the value of innovation. This article gives an insight into how firms can create blue oceans of uncontested market space to prosper in the future, providing an opportunity to evaluate the effectiveness of the chosen strategy to minimize risks.

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        Economic and Mathematical Methods for Ranking Eastern European Universities

        Gennady Osipov,Svetlana Karepova,Vadim Ponkratov,Alan Karaev,Andrey Masterov,Marina Vasiljeva 대한산업공학회 2020 Industrial Engineeering & Management Systems Vol.19 No.1

        Assigning accurate qualitative ratings to Eastern European higher education institutions is critical in the face of high student mobility and competition with similar institutions in the USA, Central Europe, and Canada. This article aims to develop a methodological economic and mathematical approach to rating higher education institutions in Eastern European countries. An indicator system of the integral assessment of the education quality in Eastern Europe, considering the specific characteristics of national higher education systems, was formed during the research with the help of experts and taxonomic methods. A group of rating indicators of universities and their significance in determining the university’s ranking was substantiated. Using regression analysis, a multifactor model was developed to determine the rating of higher education institutions in the countries studied. The analysis demonstrates that the universities of Russia, the Czech Republic, and Poland are dominant in Eastern Europe. The study’s practical implementation can serve as a reference point and incentive for encouraging higher education institutions to provide a higher quality of education.

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