Strategy as a basic element of the company’s sustainable development

Abstract

Business development and the formation of competitive advantages is the key to the success or failure of any commercial organization. Strategy is a tool for sustainable development and a mechanism for business transformation in an uncertain environment. In addition, if the company does not have a strategy, it may be difficult for employees to determine the correctness of tactical actions, as a result of which the company’s effectiveness is significantly reduced. The development of an organizational development strategy provides the company with important competitive advantages, including productivity and profit growth; improvement of interpersonal communication skills and hard work of employees; job satisfaction and motivation, etc. Timely and competent development of a development and growth strategy can help the manager to promote the company to a new level, ensure competitiveness and sustainable development in an unstable external environment. An effective strategy is flexibility that allows a company to quickly adapt to changing circumstances, use new opportunities and remain relevant in a dynamic market where customer interests change quite dynamically.