Strategic assessment of electric power industry development: A case of Kazakhstan

Despite the stability of Kazakhstan’s economy there is a need for objective and comprehensive research into the problems of the country’s electric power industry management. The study aims to identify priority problems hindering electric power industry development in Kazakhstan based on modelled strategic assessments. The methodological basis of the research includes the concepts of strategic management applied at a macrolevel. In terms of the methods the authors rely on the multidimensional ranking procedure, which allows setting priorities for the industry development in compliance with the key objectives of the country. The proposed methodological framework for identifying the priority problems aims to improve the quality of the considered stage of devising strategic plans for the industry development. It has to firstly, make the selection of the main problems faced by the industry more objective; secondly, standardise and formalise the selection procedure as much as possible, i.e. adapt it for application not merely in the electric power industry, but in all other major sectors of the economy. The results of the research confirm that the proposed model linking the electric power industry development and the country’s economic growth and competitiveness is of practical use.