Abstract

In a modern market economy, close attention is paid to the development of an organization's development strategy, since strategy is the most important tool for enterprise management. To implement effective management, strategy development must be approached especially carefully. In the face of intense competition, constantly changing external economic conditions, increasing consumer demands, a significant reduction in the life cycle of products (including furniture) and the current unfavorable geopolitical situation, organizations must develop a strategy that would be able to help the company keep up with the changes, taking place in the external environment. The main goal of the organization's development strategy is to acquire long-term competitive advantages that will help the organization gain a foothold in the market, overcome economic difficulties and ensure further development. Various factors influence the formation of an organization's development strategy. For each industry, the interaction of such factors is specific. As a result of the study of factors influencing the process of developing a development strategy and the organization as a whole, internal and external factors were identified, having studied which it can be concluded that the development strategy being developed will bring results only when it is based on an extensive study and analysis of all types of factors.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.