Сomponent strategies of foreign economic development
DOI:
https://doi.org/10.33216/1998-7927-2022-274-4-14-19Keywords:
globalization, market, enterprise strategies, market strategies, development strategiesAbstract
The main components of the foreign economic development strategy are considered in the article.
The success of the enterprise's foreign economic activity depends on a large number of internal reserves and external factors, among which the choice of the enterprise's foreign economic development strategy plays a significant role.
The foreign economic development strategy of the enterprise is one of the components of the general strategy of the enterprise and is an action plan of the enterprise, which is directly related to entering the foreign market and winning the desired market share, expanding and maintaining the desired competitive position on it. And it is also a set of management decisions regarding the narrowing of the entire set of possible foreign economic actions of the enterprise to the set of the most effective from the point of view of the long-term goals formulated in the general strategy of the enterprise.
Strategic development of the enterprise is a mandatory provision in the formation of increasing the competitiveness of the enterprise on the market and optimization of its activities.
Understanding strategy as a plan of actions allows enterprises to decide on the main types of actions to enter foreign economic markets and to consolidate their position on these markets. On the other hand, the understanding of strategy as a general direction of development in foreign economic activity requires coordination of this type of strategy with the general choice of all existing directions, therefore it is important to determine its economic essence.
Thus, it is possible to draw conclusions regarding the disclosure of the essence of the concept of "foreign economic development strategy" - a clearly defined sequence of actions in the process, which is based on a functional approach in interaction with systemic, situational and process approaches to the management of the enterprise's foreign economic activities, aimed at the development and implementation of the foreign economic strategy activities as part of the general strategy of the enterprise based on its respective capabilities and taking into account the changes occurring in the external and internal environment for effective functioning, increasing the level of competitiveness and development in general.
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