INVESTMENT POLICY OF A METALLURGICAL COMPANY IN THE CONTEXT OF STRUCTURAL TRANSFORMATION OF THE ECONOMY

Abstract

In the context of unprecedented geopolitical sanctions against our state, the actualization of strategic goals and objectives for the restructuring of all economic relationships comes to the fore in the development of economic entities. This, first of all, refers to the investment policy of the backbone links of the domestic economy, including ferrous metallurgy enterprises. The article analyzes the economic essence of investment policy and its constituent elements. The authors propose to consider the investment policy as a key element of the economic strategy of metallurgical companies, focused on the continuous process of innovation. With the help of the extended marketing tool PESTEL-analysis, a study of the parameters of the external investment environment of PJSC «Severstal» was conducted. This made it possible to more accurately identify the existing limitations of the effective implementation of the company's investment policy. Using the SWOT analysis method made it possible to consider the strengths and weaknesses of the company's investment environment and determine their relationship. The obtained results of the analysis formed the basis of four protostrategies, which are characterized as preliminary versions of the existing strategic goals of PJSC «Severstal» and take into account the identified advantages and disadvantages of the investment environment. The proposed protostrategies are based on taking into account the influence of a combination of factors from the external and internal environment to minimize the negative effects of the identified threats. Currently, the metallurgical industry should develop due to the timely updating of investment policy in accordance with the strategy of the companies, which will not reduce investment activity despite the problems in attracting investment and restrictions on equipment imports.