The Role of Extreme Management in Improving the Competitiveness of the Banking Sector

The article is written on the topic: The role of extreme management in improving the competitiveness of the banking sector. The article consists of four chapters and references. The relevance of the article's topic is determined by the fact that the modern era of innovation sets new conditions for creating a competitive environment at the global level, which implies managing the future and gaining a competitive advantage. The relevance of the topic of the article is also determined by the fact that, in modern conditions, it is important to use creative management, which has three main directions: extreme, entropic, and synergistic management. We will focus on extreme management and its role in improving the competitiveness of the banking sector. The first chapter of the article, the introduction, presents the relevance of the topic, the purpose of the research, the object, the methodological basis, and the novelty. It has been established that extreme management is a flexible management model for a commercial bank, the development of which is characterized by changes and uncertainty. The second chapter of the article discusses the basics of extreme management in the banking sector. The features and principles of extreme management in the banking sector are studied. It has been established that in modern conditions, new problems and tasks arise in the functioning of commercial banks due to changes in the internal and external environment. Solving these tasks is related to the search for approaches that lead to the active use of creative management in management. Extreme management of the banking sector is based on the following management principles: the principle of centrality; the principle of the creative atmosphere of the banking sector; the principle of the charismatic nature of the banking sector; The principle of conscious risk in the banking sector; The principle of freedom and improvisation in the banking sector. The third chapter of the article discusses the role of extreme management in improving the competitiveness of commercial banks. Competitiveness management and extreme management of commercial banks have been studied. It has been established that the scale of banking business is related to changes in the dynamics of competition and reflects the financial condition of the bank. To manage competition wisely, the management of a commercial bank must specifically know what kind of competition it is dealing with and objectively assess the level of competition it is ready for. The fourth chapter of the article, in the conclusion, presents the results of the research. It has been established that the main reasons for the failure of the banking sector to make and implement decisions in extreme situations are: Lack of effective extreme managers in the extreme breakthrough group; management team's focus only on technological and technical details; Low level of communication skills of management team members; excessive reverence of management team members towards their superiors, lack of trust among management team members.