Vol 12, No 3 (2025)
Articles
Joint Ventures as a Strategic Fix for Oman’s International Partnership Challenges
Abstract
Oman’s economy faces significant challenges in international cooperation and economic diversification, despite its strategic geographic position and ongoing reforms. This study examines whether joint venture (JV) development can serve as a transformative strategy to address these challenges, with particular focus on technology transfer, risk mitigation, and market expansion. Grounded in international business theories, including Strategic Alliances, Transaction Cost Economics, Resource-Based View, and Institutional Theory. The research employs a thematic analysis of case studies, government policies (e.g., the Foreign Capital Investment Law), and literature to evaluate JVs’ role in Oman’s economic transformation. The results highlight successful JVs (e.g., Ibri II Solar Project, Duqm Refinery) that have enhanced diversification through shared expertise and capital, alongside failed cases (e.g., Oman-Fischbach) revealing pitfalls like cultural misalignment and governance gaps. Regulatory reforms, such as 100% foreign ownership, are shown to improve Oman’s JV appeal, but their effectiveness depends on strategic partner selection and localized adaptation. The study concludes that joint ventures, if supported by robust policy frameworks and cross-cultural integration, can reposition Oman as a competitive player in global markets while advancing Vision 2040’s diversification goals. These findings offer actionable insights for policymakers and investors seeking to leverage JVs for sustainable growth.
Digitalization of business processes in the banking sector (using the example of PJSC Sberbank of Russia)
Abstract
The article discusses the key aspects of digitalization of production business processes using the example of Sberbank PJSC, one of the largest financial institutions in Russia. The author analyzes the impact of digital technologies on optimizing internal processes, improving customer service and increasing the efficiency of the bank. Particular attention is paid to the implementation of innovative solutions, such as process automation, the use of big data and artificial intelligence. Examples of successful projects and initiatives of Sberbank aimed at transforming the business model and creating competitive advantages in a rapidly changing market are considered. The conclusion emphasizes the importance of a strategic approach to digitalization to achieve sustainable growth and development of the organization in the era of the digital economy.
The Role of Cluster Policy in Regional Development: Analysis of Global Practices and Potential Applications in Russia
Abstract
The purpose of this article is to considerate international experience in regional cluster modeling to identify prospects for implementing this tool in the Russian Federation. The theoretical aspects of the "cluster" concept, its types, and implementation policies in global practice are explored. The foreign experience of adapting the cluster approach is analyzed, national characteristics are identified, and a comparative analysis of cluster application in North America and Asia is provided in contrast to methods used in Russia. Recommendations are given for mechanisms aimed at activating cluster policy in Russia.
Sustainable development of business environments in the context of modern challenges and threats
Abstract
The purpose of this research is to analyze the factors influencing the sustainable development of the business environment in the context of modern challenges and threats, as well as to find ways to overcome crisis situations taking into account digital trends, flexibility, and integration. The authors conducted a literature review to achieve their research goal, which demonstrates the relevance of the topic. Based on comprehensive scientific research, it was revealed that the main factors influencing the sustainable development of the business environment currently include globalization, technological innovations, economic crises, and geopolitical factors. Taking these factors into account, a promising direction for future research has been identified in the context of integrating innovative technologies and sustainable development. The article shows that success largely depends on the ability to adapt and predict changes using modern technologies and approaches (Artificial Intelligence), scientific and practical achievements in the field of processing and analyzing large amounts of data (Data Science), as well as the development and implementation of new technologies in Big Data. The findings can be used in the process of writing socio-economic programs.
Management in the Era of Digital Transformation: Methods for Evaluating the Effectiveness of Investments in Innovative Projects
Abstract
In the context of economic digital transformation and high technological volatility, the evaluation of investment effectiveness in innovative projects is gaining increasing importance. Traditional approaches based on discounted cash flows show limitations when applied in high-uncertainty environments typical of innovation-driven contexts. This article provides a comprehensive analysis of modern methods for evaluating innovation investments, including the real options method, scenario modeling, and multi-criteria analysis. The advantages of integrating these approaches are examined to form a more objective assessment of the effectiveness of innovative projects. Using case studies of major Russian companies, the practical applicability of flexible investment evaluation tools is demonstrated. Particular attention is paid to institutional and managerial barriers that constrain the adoption of advanced methodologies in Russian practice. The necessity of transitioning to an integrated evaluation methodology in the digital era is substantiated.
The Role of the UAE and Saudi Arabia in the Chinese Initiative "One Belt, One Road"
Abstract
The article examines the role of the United Arab Emirates and Saudi Arabia in the implementation of the Chinese initiative "One Belt, One Road" as key partners in the Middle East region. The structure of trade and economic relations between China and the two Arab states, investment flows, participation in energy projects and digital transformation within the framework of the "Digital Silk Road" are analyzed. Particular attention is paid to the impact of geopolitical and economic crises on bilateral relations, as well as the strategic importance of China's presence in the region. The study identified the specifics of China's interaction with the UAE and the KSA, their role in expanding Chinese influence and forming alternative global economic and technological alliances.
Modern approaches to the management of competence centers in the organization's sustainable development system
Abstract
The article discusses the theoretical and practical foundations of the formation and development of competence centers as a tool to improve the efficiency of organizations in the context of digital transformation. The purpose of the study is to substantiate approaches to the management of competence centers that ensure the integration of knowledge, technology and human resources to achieve strategic goals. The paper analyzes modern models of competence centers, highlights their functions, forms of implementation and areas of interaction with business, scientific institutions and authorities. The results show that the effectiveness of competence center management depends on the alignment of strategic and operational goals, the development of human resources, the formation of an innovative environment and the institutionalization of knowledge management.
Integrating ESG Goals with Financial Innovation in Chinese SMEs
Abstract
Against the backdrop of digital transformation and sustainability imperatives, Chinese small and medium-sized enterprises (SMEs) face escalating pressure to enhance financial transparency, operational efficiency, and long-term resilience. This research explores the mechanisms through which financial monitoring innovations facilitate sustainable development for Chinese SMEs. Grounded in the Resource-Based View (RBV) and Sustainable Business Model (SBM) theories, it analyzes the developmental trajectories of innovative tools and validates their roles in optimizing resource allocation, boosting operational efficiency, and integrating ESG objectives through case-based analysis. The findings indicate that advanced financial monitoring tools not only strengthen internal management systems but also drive the realization of broader objectives, including environmental responsibility and financial resilience.
Cybersecurity as a critical factor in the digital transformation of India's energy infrastructure
Abstract
The article examines the pivotal role of cybersecurity in the digital transformation of India's energy infrastructure. It explores the tension between enhanced operational efficiency through digital technologies (Smart Grid, RES, IoT) and the increased vulnerability to cyberattacks. The study traces the evolution of India's cybersecurity regulatory framework and institutional mechanisms, highlighting challenges posed by import dependence and supply chain risks. Based on this analysis, it proposes a holistic strategy integrating robust regulation, national technological development, and international collaboration.