PROCEDURE FOR FORMING AND IMPLEMENTING THE STRATEGY OF ENTERPRISE DEVELOPMENT

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  Kateryna Malinoshevska

Abstract

The purpose of the article shows that formulating a strategy is an important and necessary process because it helps to unite the efforts of many people and, through their coordinated work, achieve the set purposes: how to achieve the goals, what to do and how to direct the efforts of the company and its individual employees determines the strategy of the company. The problems that organizations face and how they can be solved are highly relevant in today's economy. Methodology. A scientific approach to solving problematic issues allows us to model possible situations and avoid negative consequences due to the wrong strategic policy of the organization. The main purpose of this article is to identify methodological approaches to the evaluation of the characteristics, properties of the enterprise development strategy and the introduction of classification strategies based on the performance indicators of enterprises that characterize the effectiveness of their functioning in the market. Results. Changing the environment in which an enterprise operates in a market economy forces the company to adapt to new conditions, that is, to formulate its strategy. Increasing the intensity of production, the maximum use of financial and labor resources, determine the need for new methods and approaches, that is, the strategy of enterprise development. In a competitive market, it is impossible to be successful by providing low-quality services or offering low-quality goods. Before developing business management processes, a functional strategy must be developed. Practical implications. Strategies at any level usually do not have resources or the ability to use resources in such a way as to ensure complete confidence in success. As a result, the final and important criterion is the risk assessment of less than the achievement of strategic goals. Acceptance of unavoidable risks is part of the work of strategists in the modern world, and the ability to clearly articulate the nature and extent of risk is the first step in reducing its impact. If the risk is defined as unacceptable, it is necessary to revise the tasks, changes in concepts, increase resources, or some complex of these actions. Improvement of the regulatory framework of strategic planning should include mechanisms, a number of regulatory documents and bills, the adoption of which will be carried out by the scientific and technological development of enterprises. The proposed specification of factors that influence the choice of strategy, the comparative characteristics of management systems, the proposed ways to increase the set of decision-making rules will help determine the main areas of activity of the enterprise.

How to Cite

Malinoshevska, K. (2020). PROCEDURE FOR FORMING AND IMPLEMENTING THE STRATEGY OF ENTERPRISE DEVELOPMENT. Three Seas Economic Journal, 1(1), 14-19. https://doi.org/10.30525/2661-5150/2020-1-3
Article views: 43 | PDF Downloads: 46

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Keywords

company strategy, development strategy, strategy selection criteria, strategy implementation

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