Features of the SPACE method using for the optimal choice making of strategy development of foreign economic activity

Abstract

Introduction. Activation of international business requires the formation of a strategy for the development of foreign economic activity, because its implementation allows to increase competitiveness and flexibility under conditions of the business environment changes. Nowadays, the problems of developing the foreign economic strategy of the enterprise become especially relevant, because the modern conditions of commercial activity require fundamentally new standards, management methods and stages of international business organizing. The purpose of the paper is to study the peculiarities of the application of the method of strategic analysis SPACE for the implementation of the optimal choice of development strategy of domestic enterprises on the example of Electroprylad SPE LLC. Results. The SPACE method is to develop an assessment of the strategic position and strategic actions of the enterprise. This is a comprehensive method of strategic analysis, which allows you to identify and characterize the competitive position in the market in order to select the best strategy for the enterprise to act at the market. The introduction of the SPACE method for the implementation of the optimal choice of development strategy of Electroprylad SPE LLC provides for the implementation of successive stages: analysis of financial strength; determination of competitive positions in foreign markets; assessing the attractiveness of potential foreign markets; assessment of prospects for potential stability in foreign markets; selection of the optimal strategy for the development of foreign economic activity of the enterprise based on the results of the SPACE method. The SPACE method allowed to form a group of priority characteristics and parameters of Electroprylad SPE LLC activity, which were previously identified from all existing variety, allowed to organize them and determine the complex impact on the management decision-making process by validity, as well as to choose the best foreign economic development strategy. Conclusion. Implementation of the SPACE method for selecting the strategy of foreign economic activity development of Electroprylad SPE LLC is connected with the mandatory involvement leading specialists in the strategic analysis in order to perform the necessary tasks related to the methodology of strategic analysis. The set of criteria is determined taking into account the internal priorities of work and external strategic goals of foreign economic activity. The parameters of the production and financial strength of Electroprylad SPE LLC must be fully taken into account.