The concept of "strategy" in the context of strategic management of enterprise development in the conditions of intellectualization of the economy

Abstract

At the present stage of development of the Ukrainian economic system, the concept of "strategy" and its appropriate application by modern enterprises is becoming increasingly important. As a country of the former Soviet Union, Ukraine is undergoing a complex process of transformation, complicated by the decline of small and medium-sized businesses in global pandemic, military events in the east, inflation, and significant wear and tear of equipment and technology. Given all these factors, it is reasonable to assume that competitiveness in both foreign and domestic markets is declining. Increasingly, modern enterprises face the problem of identifying and choosing a strategy, because every company usually has a mission and goal, but unfortunately, not every manager understands that strategy plays an important role in implementing the plan, especially when it comes to enterprise development. That is why, in the context of the intellectualization of the economy, it is necessary to focus on strategic management of modern enterprises and try to develop innovative areas of economic activity. This study aims to generalize various interpretations of the term "strategy" with the subsequent proposal of its own interpretation in the context of strategic management of enterprise development. In the course of the research the significance of strategic development management for modern Ukrainian enterprises was considered and the own interpretation of the concept of "strategy" was offered. The results of the study are of practical significance for the production enterprise LLC "Odetex", as the strategy proposed in the article will create a kind of "foundation" for the implementation of the company's goals, further development and acquisition of new markets. Thus, in the context of the intellectualization of the economy, strategy and strategic management of the development of modern Ukrainian enterprises are an integral part of effective functioning in both domestic and foreign markets.