Theoretical aspects, components and characteristics of enterprise development in turbulent markets

Abstract

Introduction. The development of an enterprise in turbulent markets is a complex and multifaceted process, since such markets are characterised by rapid changes, high degree of uncertainty, competition and instability. Turbulent markets can arise from a variety of factors, such as economic crises, technological changes, political instability or global events. In today's turbulent environment, enterprises must constantly improve and implement changes to not only survive in the market, but also maintain their competitive advantage. Commercial enterprises should focus on a management strategy that increases the efficiency of the entire system, while paying special attention to resource conservation and environmental protection. Therefore, the implementation of the concept of sustainable development is the most acceptable for a modern enterprise to maintain stable operations and a competitive position in the market. The purpose of the article is to form a theoretical basis for the development of an enterprise in turbulent conditions, namely, to systematise and generalise approaches to the interpretation of the concept of "economic development of an enterprise", to substantiate the components of ensuring the economic development of an enterprise and to identify the main elements of enterprise development in turbulent markets. Research methodology. The theoretical and methodological basis of the study are the works of leading domestic and foreign scholars, methodology and systemic principles of conducting comprehensive scientific research. Among the special research methods used in the work are: abstract-logical - to study the development of the problem and summarise the findings; theoretical generalisation - in the process of disclosing the essence of the category "enterprise development"; observation, comparative advantages, economic analysis, clustering and comparison - to study the components, indicators, functions and factors of influence on ensuring the development of an enterprise in conditions of turbulence. Results. The theoretical basis of enterprise development, characteristics and phenomena of the economic process are studied. A classification of ensuring the economic development of enterprise has been developed, which includes a system of indicators, features, factors and functions, allowing to make a decision on the possibility of rapid adaptation of the enterprise to changes in the business environment, provided that the needs of potential business entities are taken into account to the greatest extent possible, which guarantees the satisfaction of consumer needs. The factors of influence on the economic development of enterprise, which are determined by the impact of the scale of their activities and require strategic planning and development of alternative options for behaviour in conditions of uncertainty and turbulence in the enterprise environment, have been identified. A system of elements of enterprise development with a possible reaction to market turbulence is proposed for use, which will allow timely recognition and development of proactive actions.