A COMPLEX APPROACH TO THE FORMATION OF INTERNATIONAL DEVELOPMENT STRATEGIES OF THE ENTERPRISE

Abstract

The research focuses on modern academic sources related to theoretical definitions in the field of strategic management of international business processes. A special attention is paid to different approaches for strategy development. The key factors impacting the success of export strategies are determined. In particular, strategies for entering foreign markers are researched based on criteria such as a degree of control over distribution, a level of investment, a predisposition to risks, elasticity, speed of entering a market, and market access. A comparative analysis of main strategies is given, taking into account the above-mentioned factors as well as an evaluation of the strong and weak sides of each approach. In addition, the strategies are analyzed from the perspective of instruments that are used for their implementation, highlighting the necessity of choosing a complex and polyhedral approach for achieving success on international markets. The research outlines the main challenges faced by businesses entering external markets, describing in detail potential obstacles at every step of the process. An emphasis is put not only on the development of strategies but also on the support of a reliable system of continuous monitoring and control. An algorithm for forming a complex approach for realization and control of the implementation of the strategies is suggested. Main principles that ensure successful access to foreign markers are outlined. The main principles for successful strategy implementation are defined, including a detailed market analysis, the use of unique product characteristics, consideration of local market specifics, and adaptability to changes. Adherence to these principles will enhance the enterprise’s competitiveness. Assessment and forecasting methods of external and internal business environments are discussed for effective execution of the chosen strategies. The study provides an overview of qualitative and quantitative methods, including peer review methods, extrapolation methods, and econometric modeling, that allow companies to better adapt their strategies to the dynamic conditions of the global market.