MANAGEMENT ANALYSIS OF THE KABARDINO-BALKARIAN RESORT COMPLEX: DIAGNOSIS OF PROBLEMS AND RATIONALE FOR STRATEGIC DECISIONS

Abstract

The article presents a management study aimed at a comprehensive diagnosis of the current state and the development of strategic solutions for the development of the spa and resort complex of the Kabardino-Balkarian Republic (KBR) from the standpoint of management efficiency. Based on systemic and comparative analysis, the competitive advantages of the republic (unique balneological resources, climate, landscapes) are assessed, and key market trends for 2020–2024 are analyzed, including an increase in tourist flow to 1.2 million people and structural shifts in favor of hotels and leisure organizations. Management accounting and analysis methods revealed systemic problems leading to decreased profitability and investment attractiveness: critical depreciation of fixed assets, staff shortages, income seasonality, weak supporting infrastructure, and low marketing efficiency. As strategic vectors aimed at increasing economic sustainability and competitiveness, the following are substantiated: the introduction of public-private partnership (PPP) mechanisms for asset renovation, the development of income diversification programs (congress and exhibition activities, event tourism), the formation of tourism and recreational clusters with special economic conditions, the implementation of investment projects for the modernization of medical facilities and related infrastructure, the introduction of targeted personnel policy, and the building of a strong regional brand. The results and recommendations of the study are formulated as management decisions and can be used by public administration bodies and resort enterprise management to optimize costs, increase profitability, and conduct strategic planning in the face of increasing interregional competition.