Modern Managerial Thinking and Russian Corporate Governance Practice

Abstract

Subject. This article focuses on managerial thinking as the basis of management paradigm change. This problem is analyzed in the field of corporate governance.Purpose. To discuss several problems of changes in managerial thinking in the process of corporate governance development in Russia to find the balance between the ideal model based on the worldwide recommendations and standards in corporate governance and the real needs and goals of the concrete companies.Methodology. The authors analyze several most important specifics of corporate governance and the need for system, strategic, outstripping, non-linear, adaptable, independent, and leadership thinking. The topics discussed are based on the ideas and opinions of famous foreign and Russian authors as well as on the long practical work in the Boards of Directors of several companies and organizations.Results. The critical look at contemporary managerial thinking especially in the corporate governance is suggested to continue the analysis and discussions on the new management paradigm of the XXI century.Conclusions. Each transformation starts with the basic meaningful questions on the necessity and the expediency of some actions. As Russian corporate governance develops these kinds of questions become more actual. A number of Russian companies trying to follow the best practices do not have enough system thinking and synergetic vision of recommendations suggested and transformations in the management system. Now the accumulated experience induces much to rethink about creating more effective control systems. Accordingly, the practice of business education should change.

Keywords

• managerial thinking
• corporate governance
• non-linear management
• management innovations
• business models
• competitiveness
• integrated reporting
• leadership