Strategic Management Methods Research Articles

ECONOMIC-MATHEMATICAL MODELING THE CHOICE OF OPTIMAL STRATEGY OF DEVELOPMENT OF THE ENTERPRISE TAKING INTO ACCOUNT RISK FACTORS

In the article the questions of choice and use of tools and methods of strategic management, development, and selection of enterprise strategy. Studied methods of formation of strategy of enterprise development that can be represented in three groups: methods of portfolio analysis, mathematical methods, methods of forecasting. It is determined that the modern enterprise management methods and mechanisms for making key business decisions require the development procedure is both comprehensive and quantitative account and assess the whole spectrum of possible uncertainties and risks involved in the market activity of an economic entity. It is shown that the majority of the business risks to be taken into account, quantified and taken into account in mathematical model of the enterprise includes two main types of market activity of the entity: production and financial. Built economic and mathematical model of optimal choice of strategy of enterprise development considering risk factors using the criterion of maximizing the sum of the consolidated cash flow from operating and financial activities reflects both the production and technological conditions of the enterprise and features of decision-making in the commodity and financial markets. This optimization model is implemented to solve the problem of choosing the optimal development strategy for the main production enterprises "Enko" given the demand market prices and the level of risk is acceptable to decision-makers. For pessimistic, realistic and optimistic scenarios, the optimal production program taking into account risk factors for the criterion of maximizing the sum of the consolidated cash flow from operating and financing activities. It is shown that this model allows for a timely selection of the company’s development strategy in fast-changing business environment and does not require significant time, labor and financial resources.

Implementation of balanced scorecard in Vietnamese enteprises

Balanced scorecard is a highly effective method for performance measurement and strategic management in organizations and enterprises. The number of companies applying this method in Vietnam currently is not very high. For this reason, this paper aims to determine key factors for success when implementing balanced scorecard in Vietnamese enterprises. Then, it assesses the possibility for applying the method in companies who are planning to apply it. The data was collected from a survey of 6 companies who have applied balanced scorecard successfully and 19 companies who want to apply it. The data analysis result from the 6companies who have had success with the balanced scorecard shows four major success factors, including balanced scorecard usefulness, balanced scorecard design, company human resource capacity, and balanced scorecard implementation process. Then, these factors were applied into 19 companies who have interest in implement the balanced scorecard to evaluate the ability to apply balanced scorecard. The result show that senior leaders’ point of views, strategy planning and execution, performance assessment, human resource capacity, and operation management of the company could affect to balanced scorecard implementation. Therefore, business leaders need to focus on these factors in order to successfully implement balanced scorecard in Vietnamese enterprises. Qualitative analysis were applied in this study.

Sub-Sector Analysis of Fruit Tree Nursery in Turkey

In this study, a sector analysis has been conducted to increase the competitiveness of the Turkish fruit nursery using the SWOT and Strategic Orientation Management (SOR) method and strategic aims and goals have been determined. It is an important power factor that exports of nursery plants tend to increase. However, the problems experienced in supplying certified sapling production materials are the weakest point of the industry. In addition, the increase in the number of new fruit plantations in recent years in countries that have the high market potential for export of saplings for Turkey and the increasing demand for world fruit saplings are significant opportunities for the sector. The expected increase in the demand for certificated saplings in the near future, protecting of the new varieties accepted in the world market and the high quality of the saplings in the competing countries are the most important threats for Turkey. A total of 7 strategic objectives, 17 targets, and 63 projects/activities were determined in the prepared strategic action plan. In case of the projects/activities defined in the Action Plan are taken into consideration by the stakeholders and cooperated with each other, it is possible that Turkey’s fruit nursery sub-sector could reach the targets set for 2023 and its competitiveness would increase.

УДОСКОНАЛЕННЯ СТРАТЕГІЧНОГО УПРАВЛІННЯ ПІДПРИЄМСТВОМ

The article analyzes the business efficiency of the enterprise and the need to develop a strategic direction of the enterprise development. The methods of strategic management and tools for their implementation are systematized. The priority of balanced management in increasing enterprise manageability is indicated.

SWOT ALTERNATIVE STRATEGIES AS A MARKETING POLICY TOOL OF BANK ALLIANCE JSC

Introduction. The banking market is one of the most important and integral components of a modern market economy. Therefore, there is growing interest in various aspects of banks' activities and methods of managing them. Banks have gradually become the main intermediaries in the redistribution of capital, in ensuring the continuity of the economic reproduction process. The conditions of increasing competition and commercialization of activity dictate the need for reorganization of structures, development of flexible market strategies, segmentation of the banking services market, development of new segments, services and methods of service.Scientific research hypothesis. Negative external and internal factors have a significant impact on the formation of the banking environment. In order to gain competitive advantage, build an effective organizational and management structure, achieve high results of core business, meet customer needs, banks need to implement strategic management tools and methods. The relevance of the topic is related to the ability of a particular bank to use all its existing and potential benefits to build a model for further development.The purpose of the article is to use the basic tools of banking marketing for a practical study of the activities of JSC Bank Alliance, namely: to analyze its status in the financial market and position among other banking institutions, identify its opportunities and threats, analyze the marketing environment, etc.Research methods: formal-logical (comparison of analogies, modeling), economic-statistical (grouping) and content-logical (analysis and synthesis).Results. The article deals with the basic banking marketing tools that influence the efficiency of banking institutions. A situational analysis of the bank is conducted as one of the possible ways of researching and evaluating the activity of the bank and displaying links with the external environment. An internal analysis of the bank was conducted, including studies of financial and organizational aspects of operation, which highlighted the strengths that have a positive impact on the banking institution, and the weaknesses that are most vulnerable and need to respond quickly with the necessary measures to minimize their impact. A study of the bank's external environment made it possible to identify opportunities that the bank could use to achieve its goals and threats that the bank has no influence from, which are exerted by the negative environment. Possible combinations of indicators of each field of the SWOT matrix that affect the bank's competitiveness are investigated.Conclusions. The proposed SWOT analysis matrix for Bank Alliance makes it possible to streamline the processing and analysis of information, facilitates management decisions to formulate the overall strategy of the bank, taking into account all the features.

Emphasis in functionally developed systems of strategic management of special purpose by enterprises and associations of an independent subsystem of integrated economic analysis (evaluation)

The study of management functions in the conditions of functionally developed systems of strategic administration of special purpose by industrial enterprises and scientific-industrial associations from the standpoint of the systematic approach gives the reason to conclude that any part of the organizational management system can be recognized by the subsystem if the following requirement is fulfilled: y subsystems can be allocated parts that have systematic features and which in turn can be called tasks (complexes of tasks) of a given subsystem emu management. The possibility of fulfilling this one requirement in the conditions of creation in the functionally developed systems of strategic administration of the special purpose of industrial enterprises and scientific-industrial associations of an independent (autonomous) functional subsystem (function) of analytical processing of technical and economic information data (systematic economic analysis and evaluation) is considered. In the conditions of functionally developed systems of strategic management of special purpose by industrial enterprises and scientific-industrial associations, each of the types of subsystem (function) of analytical processing of technical and economic information data can be represented in the form of corresponding blocks of programs that implement sets of sequentially interconnected economically -Analytical tasks that form the functional configuration of integrated economic analysis and evaluation. This leads to the conclusion that in the subsystem of analytical processing of technical and economic information data there are structural parts, which undoubtedly possess system features, and, consequently, a requirement which consists in isolation in the functionally developed systems (methods) of strategic management of special purpose by industrial enterprises and scientific-production associations of the independent function of integrated economic analysis and evaluation are also performed.

Probabilistic Strategic Conflict-Management for 4D Trajectories in Free-Route Airspace.

The expected growth of air traffic in the following decades demands the implementation of new operational concepts to avoid current limitations of the air traffic management system. This paper focuses on the strategic conflict management for four-dimensional trajectories (4DT) in free-route airspace. 4DT has been proposed as the future operational concept to manage air traffic. Thus, aircraft must fulfil temporary restrictions at specific waypoints in the airspace based on time windows. Based on the temporary restrictions, a strategic conflict management method is proposed to calculate the conflict probability of an aircraft pair (that intersects in the air) and to calculate temporary-blocking windows that quantify the time span at which an aircraft cannot depart because one conflict could occur. This methodology was applied in a case-study for an aircraft pair, including the uncertainty associated with 4DT. Moreover, a sensitivity analysis was performed to characterise the impact of wind conditions and speed control on the temporary-blocking windows. The results concluded that it is feasible to propose 4DT strategic de-confliction based on temporary-blocking windows. Although, uncertainty variables such as wind and speed control impact on the conflict probability and the size of the temporary-blocking windows.

Application of the basics of strategic management in healthcare practice (review)

The study confirms the decisive role of strategic management in healthcare management practice. The authors pay attention to historical aspects and modern approaches to the characterization of strategic management. The study justifies the importance of ensuring the continuity of strategic goals. The analysis made it possible to identify general and unique characteristics of the strategic management of health care. The authors emphasize the need to take into account the specifics of the healthcare industry when using traditional methods of strategic management. An analysis of existing tools and approaches to strategic management in healthcare proved their relevance and confirmed the mandatory regulatory and organizational support of strategic management in this industry. Therefore, strategic management ensures unity and coherence of strategic objectives. The results of the study expanded the understanding of the possibilities of applying strategic management technologies in the healthcare system, paving the way for further research on this issue.

Implementation of strategic analysis methods to choose a development strategy for the enterprise’s foreign economic activity

The article considers stages and methods of strategic management of the enterprise’s foreign economic activity. PEST analysis, SWOT analysis and SPACE analysis of foreign economic activity are used on the basis of a particular enterprise. PEST analysis has highlighted political and legal, economic, social and technological factors influencing the foreign economic activity of the analyzed enterprise. SWOT analysis has allowed identifying strengths, weaknesses, opportunities and threats of the enterprise. SPACE analysis has revealed that in the absence of growth in the services market, the use of a strategy for the enterprise diversification is acceptable. This strategy involves the creation and development of new services. Therefore, it is necessary to constantly monitor the activity of the enterprise in the international economic environment.

Реінжиніринг бізнес-процесів як сучасний метод управління стратегічними змінами на підприємстві

In the conditions of post-crisis functioning, the enterprises come up against the task of ensuring the sustainability of development, which is possible due to the formation of an effective mechanism for managing changes at the enterprise. Reengineering is a complex of means, measures, methods, including appropriate information technologies designed to dramatically improve the main indicators of the enterprise's activity. The introduction of the reengineering of business processes as an innovative method of strategic change management is undoubtedly relevant in the conditions of the activity of domestic enterprises in unsteady market conditions.The main method of solving the problem is the introduction of effective measures to manage strategic changes to obtain a positive economic and social effect from the redesign of business processes on the example of JSC "AutoKrAZ". The purpose of the work is to research the reengineering of business processes as a modern method of strategic change management, which will ensure a qualitatively new level of performance indicators of the enterprise in the post-crisis period of its functioning. The scientific article developed a mechanism for managing adaptive changes. The algorithm of reengineering of the enterprise is proposed. The advantages of the use of reengineering tools and means of their implementation are formulated. The organizational and economic mechanism of reengineering of business processes of production enterprises was implemented. The model of business processes of the highest level for the conditions of functioning of JSC "AutoKrAZ" is considered.The methodological basis of scientific research is a modern method of scientific research, among them: logical, dialectical, method of generalization, complex and systemic approaches – for improvement of conceptual apparatus of research; economic and statistical analysis – to determine the analysis of the current state of industrial enterprises; methods of comparison, analysis, synthesis – for the analysis of peculiarities of experience in the implementation of reengineering in advanced organizations; methods of a comprehensive approach – to justify the provisions of domestic reform of economic and legal mechanisms of work of production enterprises. The introduction of structural changes is proposed regarding to simplification of hierarchy, decentralization of management, use of adaptive structures, improvement of vertical and horizontal coordination of activity, the formation of a new team of experts in change management, implementation of measures to overcome the crisis and ensure development, support rationalization, inventiveness, energy saving. SWOT-analysis of the business processes of the production sector of automotive-building enterprise was introduced on the example of JSC "AutoKrAZ" and its competitors.

Future management.

Accurate forecasting, good identification of trends is the basis of business success. Strategic management methods and techniques that use experience and historical economic data are not adequate to the rapidly changing business environment. In particular, technological changes, and in particular the widespread use of ICT, forces a new approach to management style and changes in the way data is acquired on the basis of which future decisions are made. Innovation thinking, a flexible and dynamic approach to making future-oriented decisions using new technologies are the foundations of future management. Therefore, the aim of the paper is to show the role and position of technology in creating the future.

Strategic development management of enterprise

Theoretical bases of strategic management of innovative development of the enterprise are opened, in particular principles, functions and methods of strategic management of innovative development of the enterprise are considered, offers on directions of improvement of strategic management of innovative development of the enterprise are stated.

ЗАСОБИ ФОРМУВАННЯ ІНТЕЛЕКТУАЛЬНО-КАДРОВОГО ЗАБЕЗПЕЧЕННЯ ІННОВАЦІЙНИХ КЛІЄНТООРІЄНТОВАНИХ ПІДПРИЄМСТВ РЕСТОРАННОГО ГОСПОДАРСТВА

The purpose of the study was to substantiate the means of forming intellectual and personnel support of innovative customer-oriented restaurant enterprises. The urgency of this task has increased at the present stage of development of economic relations and competition, especially in the restaurant business sector, as the orientation of all business processes of enterprises to generate income and profit to meet the needs of customers; such direction as designing, modeling and development of inquiries of the consumer develops; the competitiveness of the restaurant business is increasingly determined by customer orientation. In the course of the research scientific methods of strategic management (for formation of bases of structuring of the purposes of improvement of intellectual and personnel maintenance of innovative client-oriented enterprises of restaurant economy) and system approach (at substantiation of priorities and tools of improvement of intellectual and personnel support of innovative client-oriented enterprises of restaurant business) are applied. The relevance and means of formation of intellectual and personnel support of innovative client-oriented enterprises of restaurant economy are substantiated. Further scientific research in this direction concerns the substantiation of economic and mathematical models in the field of customer management. The practical significance of the results of the study is to increase the customer base of loyal consumers and strengthen the competitiveness of the restaurant business, which also has a significant social effect in meeting the needs of consumers in restaurant services.

Evolution of Studies on Orthopaedic Surgery Regarding Cost Management Tools: A Systematic Literature Review

Objective: The subject of hospital management is relevant given the importance of these institutions in the social and economic sphere, as well as for their managers, considering that in the hospital context, which involves high costs, scarce resources, pressure for quality and good service, information on costs and performance is useful for efficient management. This systematic literature review (SLR) aims to extend knowledge of the evidence linking costing mechanisms to the performance results of health institutions, analysing articles written in the last 10 years dealing with surgery in the specialization of orthopaedics, filling an important gap in the literature. Methods: Rigorous criteria for selection of articles is followed by use of the PRISMA meta-analysis, which gives an important overview of the types of studies made, as well as classification according to the cost management tools, leading to mapping costing methods and performance analysis. Results: Studies were classified by measurement methods, costs of decision-making and control and elements of strategic cost management, showing that the greatest number of studies originate in the USA (69, 23%) and use the variable of statistical analysis (53, 85%) in the majority of strategic management methods. As for types of surgical procedures, arthroplasty leads the ranking, accounting for 34, 62% of studies. Conclusions: Predominance of the use of standard costing as the method of measurement, use of control methods for decision-making and a tendency towards the practice of statistical analysis as a variable of the elements of strategic cost management, with studies of replacement surgery (hip, knee and shoulder) being most prominent. This study provides managers and public policy-makers with challenges and indicators of efficiency and effectiveness for better performance in orthopaedic surgical processes.

Business model canvas in global enterprises

Each business model is based on a particular business model, but some businesses do not have a defined model. Global megatrends are among the systemic characteristics of today’s challenges. This paper deals with the proposed business model for a specific enterprise. Slovak entrepreneurs are mostly cautious and rather hesitate to accept something that is unfamiliar to them and new to them. Key enabling technologies will play a decisive role in the future competitive environment, and with them the new way to come value of products. These innovations are a prerequisite for product innovation to meet the needs, wishes and possibilities of customers. Oftentimes, they will accept it as a necessary measure when they see how the competition beats them. We could also write a similar scenario about modern business models, where most foreign companies have elaborated them in detail and set up to make the company successful in the future. The business model describes the basic principle of how an enterprise creates values, how it captures and mediates. The first section focuses on specific types of business models and their development and survey of the literature. The case study in selected company deals with the use of strategic management methods, as well as finding out the current state, from which the complex business model was created. The results showed that the implementation of the solution helps the company to achieve the goal and subsequent development.

Conditions and Possibilities of Long-Term Public Debt Management

The socio-economic situation of many countries in a market economy environment still faces new barriers that significantly reduce economic potential and productivity, and negatively affect future development opportunities at local and national level. At present, it is still not possible to eliminate a number of factors that lead to the cyclical development of the market economy, as evidenced by the occurring crisis phenomena, a decline in the expected growth rate of gross domestic product, stagnation and even reduction of individual consumption and many other consequences. Public debt has become a serious problem in highly developed countries, and its size now raises a number of doubts about further sustainable development. From the point of view of achieving the strategic development goals, the existence of public debt may prove to be a particularly dangerous factor. The purpose of this paper is to draw attention to the real size of public debt and its impact on the economy in selected countries of the world, as well as to indicate directions for assessing the needs of effective public debt management in the long term. This problem results from the fact that the current volume of public debt in many countries of the world means that this debt cannot be significantly reduced in the short or medium term. As a result, it is necessary to adopt a long time horizon for public debt analysis and to adopt strategic management methods to reduce the negative impact of public debt on socio-economic development.

Using System Dynamics for Strategic Performance Management in Construction

AbstractBalanced scorecard (BSC) and strategy maps (SMs) are among the most popular strategic performance management methods that have been proposed in the literature to define, analyze, and monito...

COST MANAGEMENT IN EDUCATIONAL SERVICES

The educational market in Brazil has become very competitive and, according to the Higher Education Sense, 88.20% of Higher Education Institutions are private. To make a difference in the market, HEIs must offer quality services. This offer requires a lot of intellectual as well as financial investment. Given this reality, managers need to control their revenues, but especially control their costs, which, for this business, are very high. Managers need to adopt strategic cost management methods so that they can know how their company is facing its own reality, make comparisons with other companies in the same sector, and have sufficient subsidies for decision-making. This article, through a data analysis research, seeks, through an appropriate methodology, to demonstrate the importance of applying appropriate cost management methods in private Higher Education Institutions that offer Lato Sensu Specialization courses.

The European Union’s multi-level impact on member state projectification in light of neoinstitutional theory

PurposeThe purpose of this paper is to understand how has the European Union (EU) funding influenced projectification of the Polish public sector. The projectification of the public sector is analysed in relation to three levels: mega (state level), macro (sector level) and mezo (organisation level). Hence, it is understood as a multidimensional phenomenon that permeates different social structures. The study also applies elements of neoinstitutional theory and Europeanisation concept to the research on projectification.Design/methodology/approachThe research is based on the mixed methods approach. The adopted methods (document analysis, quantitative analysis and in-depth interviews) are both qualitative and quantitative in nature and were used sequentially to address the research question, while securing the triangulation of the data.FindingsThe Polish public sector was projectified as a result of the implementation of hundreds of thousands of projects co-financed by the EU, which among other things, effected in legal regulations that support the project implementation of public tasks and changes in organisational structures towards a project-oriented direction. At public organisation level, it causes changes in the scope of organisational structures, strategic management processes and methods of work. On the basis of the assumptions that explain the mechanism of organisational isomorphism and Europeanisation, the paper may conclude that the public sector projectification process was triggered by a misfit between the projectified EU structures and the low degree of projectification in the Polish public sector.Originality/valueThe study is the first step to try to understand how the massification of project activities can affect the activities of the public sector of the particular country and the shaping of public policies at home. Because Poland has been the largest beneficiary of EU funds in Europe for over ten years, it can be assumed that these processes in this country are particularly intense. An attempt was also made to identify the scale of the public sector projectification process in Poland by not only describing, but also quantifying the phenomenon.

Specific Aspects of Strategic Management in Innovative Geographically Distributed Organizational and Economic Systems

The presented study analyzes the modern models of geographically distributed organizational and economic systems and specific aspects of strategic management of these systems.Aim. The study aims to examine the specific aspects of strategic management of such modern forms of geographically distributed organizational and economic systems as clusters and special economic zones.Tasks. The authors examine the nature and features of the major modern forms of geographically distributed organizational and economic systems, namely, clusters and special economic zones; identify innovative models within these forms: priority development areas, industrial, commercial, and technological parks, technopolises, innovation centers, etc.; substantiate methodological approaches to the strategic management of these innovative formations in general as well as formation of the corresponding organizational management structures and a set of strategies of different hierarchical levels.Methods. This study uses general scientific methods of cognition and strategic management methods to examine geographically distributed organizational and economic systems and their innovative models and to propose a set of hierarchical strategies for the development of innovative formations.Results. In the current context of formation and development of the Russian digital economy, clusters and special economic zones are becoming increasingly widespread forms of geographically distributed organizational and economic systems. This has facilitated the emergence of various innovative models of the corresponding systems: priority development areas, industrial, commercial, and technological parks, technolopolises, innovation centers, technology transfer centers, business incubators, etc. In view of these models, the authors present the specific aspects of their strategic management and provide recommendations on the structure and functions of strategic management bodies – supervisory boards and managing companies. The authors also propose a system of strategies of different hierarchical levels for such formations, including areas for the application of advanced digital and marketing technologies.Conclusion. Economic development has led to the emergence of new forms of geographically distributed organizational and economic systems – clusters and special economic zones. The study substantiates methodological approaches to the strategic management of these innovative formations in general as well as formation of the corresponding organizational management structures and a set of strategies of different hierarchical levels.