STRATEGIC PLANNING OF THE ECONOMIC DEVELOPMENT OF ENTERPRISES

  • Maksym Poliakov Individual Entrepreneur, Kyiv
Keywords: strategic planning, financial planning, long-term planning, short-term planning, enterprise development

Abstract

Strategic planning is one of the functions of management, which involves the process of setting the company's goals and researching possible ways to achieve them. Strategic planning is the basis of all management decisions, functions of motivation and control, which are oriented towards the development of strategic plans. The article examines the goals and objectives of strategic planning as a necessary condition for economic growth and improving the long-term development of enterprises. The author notes that strategic planning at the enterprise level is the basis of the interaction of a significant number of internal and external economic processes, factors and phenomena. Within the framework of the strategic planning process, four main types of management activities are distinguished: allocation of resources; adaptation to the external environment; internal coordination; organizational strategic forecasting. It was emphasized that the quality of planning also largely depends on the professional level and competence of employees and managers. All plans must be made in such a way that it is possible to make adjustments to them, and the plans themselves are interconnected with conditions. It is noted that the strategic planning of the economic development of the enterprise involves the achievement of clearly established goals, defined as a mission and tasks. The role and importance of developing an enterprise strategy is determined, which consists in identifying risk factors to which the enterprise may be exposed in the course of its activities, and taking the necessary measures to ensure its survival on the market and increase profitability. The strategy of economic development is aimed at the future periods of the life of the enterprise, most often for 3-5 years. The algorithm for developing a strategy for the economic development of the enterprise is presented. The development of the company's strategy involves the implementation of the following steps: definition of the company's mission, main goals, definition of strategic options, resources, terms and competitive advantages. The conclusion is substantiated that the most significant in market conditions are financial goals that determine the solvency and economic stability of enterprises.

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Published
2023-12-29
How to Cite
Poliakov, M. (2023). STRATEGIC PLANNING OF THE ECONOMIC DEVELOPMENT OF ENTERPRISES. Sustainable Development of Economy, (2(47), 270-275. https://doi.org/10.32782/2308-1988/2023-47-38