Transformation of the Economic Sustainability Management System of Russian Industrial Companies Utilizing Blockchain Technologies and Knowledge Management Mechanisms

The escalating dynamism and complexity of the conditions of national and international competition compel organizations across all sectors of Russian industry to enhance the economic stability of their operations through continuous improvements in their products and business processes. In these circumstances, knowledge and the presence of high-quality management mechanisms within a company’s organizational structure become pivotal tools for ensuring long-term and sustainable development. Among the most relevant mechanisms for addressing the challenges of improving an organization’s economic sustainability within the realm of management science and practice are the effective implementation of blockchain technologies and the augmentation of supply chain transparency through the development and implementation of solutions in the domain of organizational and production knowledge management. In this context, based on the application of the resource-oriented approach and technology adoption model, the authors of this study endeavor to identify and emphasize the empirical relationships between these mechanisms within the framework of addressing the problem of ensuring Russian industrial companies’ efficiency. The novelty of this study lies in the fact that the characteristics of applying these factors of management systems’ digitalization in the studied sector of the economy, exemplified by Russia, remain poorly explored both at the national and international levels. The empirical data that served as the foundation for this study were gathered through interviews with 293 respondents, comprising senior, middle, and junior managers of companies operating within the processing sectors of the Russian industry. Structural equations with partial least squares method (PLS-SEM) were employed to analyze the empirical data obtained. Empirical analysis has demonstrated a substantial impact on the adoption of blockchain technologies through the expansion of the range of organizational and production knowledge-management mechanisms. In turn, the introduction of blockchain technologies has a notable positive impact on enhancing supply chain transparency. A key finding of the study, based on empirical data analysis of Russian industrial companies, confirms a management science statement: the comprehensive introduction and expansion of blockchain technologies and mechanisms for managing organizational and production knowledge have a noticeable positive impact on addressing challenges to business economic sustainability. Furthermore, the analysis of the mediation effect revealed a consistent mediating role of blockchain technology introduction and increased supply chain transparency on the formation of a sustainable relationship between organizational and production knowledge management mechanisms and problem-solving for economic sustainability. This study expands the scope of research on the interconnection and mutual influence of organizational and production knowledge-management mechanisms, blockchain technology introduction, and increased supply chain transparency. Additionally, it provides valuable insights for top managers of manufacturing industry companies and politicians, highlighting the role of these mechanisms in addressing economic stability challenges faced by industrial companies in Russia.