Strategic Management Methods Research Articles

Methods of industrial enterprise strategic management: Integration of approaches

The article aims to develop an integrated method for managing an industrial enterprise highly responsive to the challenges of a changing environment. The theory of the firm, the general theory of management and strategic management theory constitute the methodological basis of the study. The research methods are structural-logical analysis, comparative analysis, and matrixing. We distinguish between three industrial enterprise management methods, based on: (a) complex financial indicators, (b) a balanced scorecard, and (c) a system of continuous improvements. The results of comparative analysis allowed identifying high-potential methods of strategic management. We conclude that it is expedient to integrate various methods, which will level the shortcomings of each of them and, in some cases, help obtain a synergistic effect. The study proposes a mechanism for integrating a balanced scorecard with the Hoshin Kanri tools, which contributes to the development of strategic management theory. The mechanism can be of use for industrial enterprises when formulating their development strategy.

Effect of Strategic Management Practices on Organizational Excellence

Strategic management is one of the prominent topics widely adopted for research purposes all over the academic society. It was argued that strategic management could encourage the organization to be more goal-oriented. At the same time, other opinions stated that being strategic in the approach means the organization strategically runs and manages its sources, abilities, and the human factor in achieving better performance. Also, many scholars agreed with that idea, arguing that strategic thinking means being more empowered to utilize the right item in the right place to achieve performance excellence. From that idea, the present research sought to investigate the impact of strategic management methods on bringing the company to peak performance. The SM practices used in the present investigation were (Strategic Planning, Strategy Formulation, Strategy Implementation, and Strategic Control). The study's goal was achieved via a quantitative technique; for this purpose, an online questionnaire was posted to Google Forms, and 268 persons from senior management inside Jordanian SMEs answered it. The study's findings revealed that strategic management practices positively affect organizational efforts to achieve excellence. Strategic control is the most significant variable with a correlation of r = 0.806, followed by strategy execution with a correlation of r = 0.584. Other factors (formulation and planning) had a weak to medium link but looked important in bringing the organization to excellence. Based on these findings, the research suggested establishing coherence between the organization's objectives and the strategic plans established to have a successful operational strategy. The report also included further suggestions.

Revenue management during the COVIDization of the economy

The purpose of this article is to prove the need to perceive revenues as a manageable variable by applying an active approach to companies’ management during the COVIDization of the economy. In this regard, the article illustrates the role of revenues as a factor and as a result. Revenues underlie the formation of all major financial indicators. They are key measures of a company’s growth and performance. This dual nature of revenues is revealed in the context of economics, accounting and financial management. Their importance determines the need to adopt an active approach to revenue management of the economy during COVID-19 pandemic or other similar future occurrences. From a theoretical point of view, the active approach has been justified in the context of the classical strategic management methods emphasising the leading role of marketing. The main research hypothesis tested is that in the conditions of a sharp change in the economy during COVIDization, the importance of the active approach of operating revenue management as the main variable (KPI), cannot be understated.

Determination of the Level of Strategic Management in SMEs

Intensive attention has been devoted to strategic management recently as it is one of the tools which is capable of leading the enterprise to succeed in the long term. In spite of this, it is mostly connected with big organisations. Managers underestimate SMEs often and do not apply the strategic management methods in the way they could. Using strategic management in small enterprises is not sufficiently described in the professional literature. The target of this article is to determine the level of strategic management in SMEs by means of the created LSM (level of strategic management) indicator. Data were found out for 156 enterprises through the questionnaire. Based on the professional literature and similar studies, nine main principles were selected influencing the level of strategic management in the enterprise (the enterprise has the strategy, the strategy is defined in the written form, the strategy is elaborated in detail into plans, the enterprise analyses the external environment, internal environment, the enterprise fixes and checks achieving the enterprise’s goals, the enterprise knows the value of the product for the customer assuring its competitiveness; the enterprise follows and evaluates the result indicators and the enterprise decides based on the forecast of the future market development). As a strategically managed enterprise, such enterprise was evaluated having acquired 12–15 points; this criterion was fulfilled by 74 enterprises (47%). On the contrary, a not strategically managed enterprise is the enterprise that acquired seven or fewer points (in total 38 enterprises). Implications for Central European audience: Strategic management is a tool that leads a company to long term prosperity. Strategically managed companies have a well-thought-out business plan based on a long term competitive advantage. They create better value for customers, know their surroundings and react more flexibly to changes. Within the practical applications of the paper, emphasis is placed on simplifying and making strategic management accessible to SMEs. Based on the LSM indicator, each company can verify whether it’s strategically managed or not and find out where it has shortcomings. These can then be eliminated, and the company can become strategically managed with all its advantages.

Prospects for the Development of the Russian Rare-Earth Metal Industry in View of the Global Energy Transition—A Review

Global energy transition trends are reflected not only in oil and gas market dynamics, but also in the development of related sectors. They influence the demand for various types of metals and minerals. It is well-known that clean technologies require far more metals than their counterparts relying on fossil fuels. Nowadays, rare-earth metals (REMs) have become part and parcel of green technologies as they are widely used in wind turbine generators, motors for electric vehicles, and permanent magnet generators, and there are no materials to substitute them. Consequently, growth in demand for this group of metals can be projected in the near future. The topic discussed is particularly relevant for Russia. On the one hand, current trends associated with the global energy transition affect the country’s economy, which largely depends on hydrocarbon exports. On the other hand, Russia possesses huge REM reserves, which may take the country on a low-carbon development path. However, they are not being exploited. The aim of this study is to investigate the prospects for the development of Russia’s rare-earth metal industry in view of the global energy transition. The study is based on an extensive list of references. The methods applied include content analysis, strategic management methods and instruments, as well as planning and forecasting. The article presents a comprehensive analysis of the global energy sector’s development, identifies the relationship between the REM market and modern green technologies, and elaborates the conceptual framework for the development of the REM industry in the context of the latest global tendencies. It also contains a critical analysis of the current trends in the Russian energy sector and the plans to develop the industry of green technologies, forecasts future trends in metal consumption within based on existing plans, and makes conclusions on future prospects for the development of the REM industry in Russia.

Economic security of legal entities in the digital economy

At the present stage of development of society, any economic entity requires improvement of the management system, as the volume of analyzed information regularly increases. The relevance lies in the fact that obtaining reliable, complete and up-to-date information makes it possible to increase the level of accounting and information support and economic security of the enterprise as a whole. The article is devoted to the study of the digital economy through the economic security of the subjects of legal relations, as well as hypothetical ways of leveling them. The novelty of the research lies in substantiating the impact of the digital economy on the level of economic security and accounting and information support of an economic entity, which, in turn, contributes to improving competitiveness at the socio-economic level. The research is related to the analysis of trends in the digitalization of socio-economic systems in the activities of legal entities and information flows in general. The paper discusses various principles and methods of strategic management of an economic entity through the digital economy. The subject and two groups of objects of the digital economy are distinguished. The model of the digital economy's impact on economic security developed by the authors is presented, it demonstrates the main threats and risks of information technology development, with an emphasis on the interaction of producers and consumers, state control, as well as ensuring the adoption of operational, tactical and strategic relevant decisions. The introduction of new digital technologies, automated software and the digital economy together plays a significant role in the process of successful development of an economic entity. These elements contribute to reducing the influence of the human factor, the successful implementation of management decisions and the effectiveness of primary information processing.

Strategic company management during digital transformation: Analysis of conceptions, approaches and methods

Nowadays, the level of digitalization of Russian companies varies greatly depending on their scale, industry, form of ownership, etc. The low efficiency of management systems is one of the key reasons for an insufficiently fast or unsuccessful digital transformation of many Russian companies, which is caused both by the lack of management experience in the context of digital transformation and the undeveloped mechanisms of such management. The latter circumstance determines the important scientific problem of developing the methodological basis of strategic management of companies during digital transformation; the initial stage of which is the analysis of the current state of research in this area. The purpose of the study is to identify research prospects, as well as problems that need to be solved to create a methodology for strategic management of companies implementing digital transformation projects. A bibliometric and content analysis of published works was carried out, including a multi-staged publication selection procedure, which reduced the original list of papers from 516 items to 135 ones. The article offers the answers to the following questions: what preconditions for changing the theory and practice of management are created by digital transformation; what ideas and solutions concerning the concept and methodology of strategic management are proposed by the scientific community. Based on the systematization of the results of numerous studies, the paper identifies priority tasks for the development of an improved strategic management methodology. These tasks include improving the strategic management conception, enhancing strategic management mechanisms, developing a system for identifying mechanisms for companies of different strategic orientations and levels of readiness for digital transformation, and developing practice-oriented recommendations for the integrated use of strategic management methods to provide information support for the management processes in domestic companies.

Balanced Scorecard: The Key to Employee Well-Being the Impact of Balanced Scorecard on Employee Well-Being: The Case of State of Michigan-USA

While the organizations have started to use methods consisting of financial and non-financial measures to track progress when they realized that traditional strategic management and performance measurement methods based only on financial data were not sufficient to plan the future and to be strong in competitive environments. The balanced scorecard is one of these methods that has been widely adopted and is the most popular performance method by researchers which uses a "four perspective which is financial, customer, internal process perspective and learning growth perspectives. The main function of the learning and growth perspective is to drive the major sources of human capital, informational capital, and organizational capital in the organizations. One of the most important factors of organizational success is happy employees who make a tremendous contribution to increasing organizational performance, proven by many researchers. The objective of this study was to research the impact of the Balanced Scorecard on employees’ well-being, its theoretical frameworks and concepts, and empirical research. The survey of the study involved 27334 employees working in the State of Michigan and has been analysed by 28 of Statistical Package for Social Sciences (SPSS). The study demonstrated BSC strategies were implemented in the organization have improved organizational performance in the four financial perspectives, customer, internal process, and learning &growth perspectives. With the BSC strategy, which has been followed for 20 years, and the learning and growth perspective, the organization increases the satisfaction of its employees, while organizational commitment and job engagement come to the fore. Statistical results from employee satisfaction surveys showed that BSC increased job satisfaction by 68.30% (R square: 0.683), job engagement by 71.00% (R square: 0.710), and organizational commitment by 21.30% (R square: 0.213).

Exploring Solutions and the Role of GDS Technology in Crossing the Current Pandemic Context in Tourism

Abstract In the current pandemic context, tourists increasingly need to receive assurances from the tourism and hospitality industry that their safety and health will not be endangered during their trip or their stay. Tourists increasingly prefer to plan their own trips and information technology is playing a very important role in the hotel and tourism industry. This study uses strategic management methods and comparative analysis to formulate strategies, measures, and solutions to maintain the safety and the health of tourists at the level of the tourism and hospitality industry. The aim of the paper is to provide solutions for the tourism industry in the current context of the COVID-19 pandemic, through a strategic managerial approach and by involving information technology and global distribution systems (GDSs) as a decision supporting tool. The results of the study are useful for small and medium enterprises to act efficiently in this pandemic context, but are also useful for GDS providers to reflect on possible improvements in system functionality to implement solutions and to support the decisions of tourists.

FEATURES OUTPUT FIRMS IN INTERNATIONAL MARKETS

The article considers the main components of the company’s entry into the foreign market, important aspects of foreign economic activity of firms: the main motives and strategies of enterprises, as well as barriers that prevent enterprises from entering the international arena. The company’s entry into foreign markets, where fierce competition prevails, is possible only with the use of modern management methods and modern methods of market penetration. The international market is extremely capacious, which creates significant prospects for enterprises, but at the same time makes additional demands on management. Enterprise policy requires a specific approach to maintaining the competitiveness of products and firms directly, both in quantitative and qualitative terms and more careful adherence to the principles and methods of marketing. In the context of globalization, foreign economic activity is a major component of the evolutionary development of the enterprise. For a long time, the economic literature has held the view that globalization is one of the strategies of enterprises aimed at conquering foreign markets. As for Ukrainian enterprises, unfortunately, in most cases, at the beginning of foreign economic activity, strategic management methods were rarely used. The main motivating motive for entering foreign markets was curiosity. The primary goals, such as direct entry into international markets, have been achieved by enterprises. The question arises, what to do next? A number of Ukrainian enterprises already operating in foreign markets are facing the problem of either expanding their foreign economic activity or, conversely, reducing it. The answer to this question depends on what goals the company set for itself at the stage of entering its products on international markets, which strategy was chosen as the primary one. Before forming a strategy for the development of foreign economic activity and its implementation, it is necessary to evaluate the existing strategy. This is necessary because it is impossible to plan for the future without having a clear idea of the state of the organization and what strategies it implements.

Організаційно-фінансовий механізм забезпечення фінансово-економічної безпеки банківської системи

an organizational and financial mechanism for ensuring the financial and economic security of a commercial bank is proposed, which, in real time and in situations that cannot be controlled using traditional methods, will minimize potential risks and change the internal institutional environment, positively affecting the financial and economic security of the country's banking system. It is shown that economic growth as a factor of national security is supported by the effective functioning of the banking system and the priority of long-term bank loans provided in the form of investments, which makes it possible to determine the relationship between the growth of the country's economy and the level of financial and economic security of the banking system. The main approaches to ensuring the financial and economic security of the banking system are considered, which include the structure of the primary interests of a commercial bank and indicators of the level of financial and economic security of the banking sector of Ukraine in order to ensure economic stabilization and strengthen the economic potential of the bank. It was noted that an adequate and fundamental marketing strategy will help to promote the growth of the bank's profitability, attract additional customers, form a resource base and reduce risk in banking. Mortgage lending is considered as the most effective tool for attracting funds from the population to the investment sector and meeting their needs for housing. A distinctive feature of the presented organizational and financial mechanism is the use of strategic management methods to form economic resources, improve the image and level of security of information systems, organize effective management of the bank's personnel, which will create conditions for ensuring the proper level of protection against negative factors and threats and increasing the competitiveness of the bank due to increasing the efficiency of the provision of banking services, preserving banking secrecy and the client base, creating new banking products

Directions of the state policy for intensification of bank lending development in the context of overcoming financial imbalances and ensuring structural reforms in Ukraine’s economy

The purpose of the article is to identify shortcomings and substantiate the directions of the state policy to intensify the development of bank lending in the context of overcoming financial imbalances and ensuring structural reform of the national economy of Ukraine. Methods. The research is based on general scientific methods and approaches, system approach, general logical research methods (analysis, synthesis, generalization and comparison), the method of strategic management. Results. The article shows the conceptual relationship between bank lending to the economy and economic growth along with a structural economic reform. The key indicators of volumes, structure and tendencies of bank lending development, as well as measures of distribution of bank lending to the economy are analysed. Conclusions concerning sufficiency of bank lending for its proper contribution to the development of the real sector of the national economy are made. The current research describes the shortcomings of the structure of Ukraine’s economy formed at the current stage of socio-economic development of the country, which, in fact, are systemic obstacles to the restoration of economic growth and modernization of the social sphere of Ukraine. Strategic directions and means of the state policy for bank lending development are identified. Their implementation is supposed to intensify the bank lending to the economy and the consumer sector, on the one hand, and provide a positive impact of these processes on intensifying structural changes in the national economy, on the other hand. The structural scheme of reforming the institutional and legal mechanism of the state policy for bank lending development in Ukraine has been developed. The expected structural changes in the system of the national economy are determined, on which the development of bank lending in Ukraine is focused. Practical contribution. The implementation of the proposed measures at the level of the National Bank of Ukraine and the Ministry of Economic Development, Trade and Agriculture of Ukraine will stimulate banks, on the one hand, and businesses, on the other hand, to increase bank lending to the economy, in particular in those sectors having a positive effect on the key structural characteristics of the economy, such as development of strategic industries, de-shadowing, growth of innovation activity, the overall strengthening of the economic competitiveness. Prospects for further research. The obtained results are the basis for modelling and forecasting the implications for the state policy for intensification of bank lending and providing necessary structural changes in the national economy.

STRATEGIZING IN THE MANAGEMENT OF MARKET CAPITALIZATION OF CORPORATE AGRICULTURAL ENTERPRISES

The essence of strategizing in the management of market capitalization of corporate agricultural enterprises has been studied. It has been shown that the strategy of managing the market capitalization of a corporate agricultural enterprise is a component of the overall economic strategic policy for sustainable development of the company. It has been determined that the purpose of the strategy is maximizing the market capitalization of the enterprise, and the strategic goal is to ensure a sufficient amount of capital for socio-economic, environmental and production development. The principles of strategy are systematic, transparent, competent, efficient and planned adaptability. The subjects of market capitalization management of corporate agricultural enterprises are top management and financial management of the corporation, underwriters and shareholders. The objects of market capitalization management have been defined as shares and their rates, dividends, investment risks, value of company assets, financial results, capital, corporate image, etc. The separation of financial and non-financial goals in the strategy of market capitalization management have been substantiated, which follows from the establishment of target strategic parameters for maximizing the market value of an enterprise and ensuring its sustainable development. The financial, administrative and legal methods of strategic market capitalization management have been allocated. The main stages of strategizing in the management of market capitalization include analysis of the state of development of a corporate enterprise, definition of mission and vision, setting goals and objectives, development of substrategies for managing the value of the units of an agricultural corporation, implementation of strategy, monitoring and reasonable adjustment of strategic goals and plans. It has been shown that the instruments and levers of strategic management of market capitalization of corporate agricultural enterprises are underwriting, corporate financial management and strategic marketing.

Развитие правового обеспечения личной безопасности обучаемых в образовательных организациях высшего образования США

The paper presents the results of a study of the main general features of the development of legal support for the personal safety of students and graduates, including postdocs, American universities and colleges in the current conditions of the spread of coronavirus infection, which exacerbate the financial and economic crisis on a global scale, as well as negatively affecting the integrity of students who are forced to study remotely on university campuses. The subject of the study was the relations that arise in the process of implementing primarily civil law, as well as, in part, administrative- and criminal law relations between the administration and teachers of universities and colleges on the one hand and students on the other, as well as between students in interpersonal communication, in the process of which situations of an illegal nature arise that require resolution primarily through the use of civil law methods and means of prevention and counteraction to ensure the personal safety of subjects of educational activity. In the process of conducting the study, logical, analytical, historical and legal, empirical, strategic management, instrumental and other basic methods of cognition of objective reality in the legal field under consideration were used. The scientific novelty of the study was made up of innovative approaches to the legal provision of personal security of students (graduates) of US universities, the results of which were the following main conclusions, according to which, first, the current negative state of affairs in relation to students, including PhD students and postdocs and assistant professors, can be corrected through the revision of legislative policy for grant support, allowing you to promote an increase in the number of scientific educational charities (to make it really profitable for the state and for the business community) who have substantial financial capabilities, and thereby expand the possibilities for financial support of this category of persons due to be concluded with them, along with employment agreements, contracts of civil nature for scientific research, as well as the implementation of their educational and methodological activities and, secondly, in modern society there is no place at all for such rules, which are established today by the current version of Title IX of the Code of Laws of the United States. In turn, universities should continue to independently maintain proper order within their walls and discipline themselves by civil law methods - general rules of tort and contract law (which, in our opinion, is most suitable for civil law methods of ensuring the personal safety of students and other direct participants in the educational process), as well as, if necessary, administrative and criminal legislation, respectively, which are known to automatically terminate civil law norms if there are relevant cases of an exceptional nature that require direct intervention by law enforcement agencies of the state. Such a regime would allow different approaches to be applied, corresponding to the diversity of existing social and legal institutions. And yet, as long as the United States Government enforces the regulations of Title IX of the United States Code of Laws, only clear and well-defined rules will help ensure the personal safety of students and other participants in educational activities, protect proper intra-university management procedures and freedom of speech from the university culture that they sacrifice because of the actual «insanity» of young people – students and a certain fervor of middle-level university administrators, which often has a political connotation.

Effect of Strategic Management Practices on Performance of pharmaceutical companies in India

Strategic management helps the management to select the best feasible strategy alternative.  A comprehensive analysis of a company's interior and exterior setting enables one to recognize the strengths and weak points and hazards and opportunities of business. Strategic management allows assessing a business's competitive advantage and outlines objectives and ways to meet all present and future competitors. In India, pharmaceutical companies have been reporting a declining performance on the sales revenue for the past three years since 2018. This formed the motive of the study to examine the effect of strategic management practices on the performance of pharmaceutical companies in India. The study was literature-based. The inferences were based on the research findings from the previous studies. The findings of the study established that strategic management practices are positively and significantly related to performance. The study discovered that strategic management is essential in performance. Strategic management provides overall direction by developing plans and policies designed to achieve objectives and then allocating resources to implement the strategies. Ultimately, strategic management is for organizations to gain a competitive edge over their competitors. The study concluded that strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to assess their strategies for success constantly. The research concluded that many strategic management methods have to do with identifying and describing the processes that managers can use to achieve superior performance and a competitive advantage for their business. The study recommended that strategic supervisors establish promising strategies during a severe economic crisis, organizational cycles, severe financial decline, or business malfunction. The managers should develop a plan that will assist businesses in both the short term and long term. Keywords: Strategic Management Practices, Performance, pharmaceutical companies, India

Cost Control And Financial Performance Of Pharmaceutical Firms In Nigeria

This paper examined the impact of cost control on financial performance of pharmaceutical firms in Nigeria from 2010 to 2019. Secondary data were used in this study. The secondary sources of data were sought from published annual reports of the six quoted pharmaceutical firms in Nigeria. The variables used in the study include; Profit after Tax (PAT), Cost of Raw Material (CRM), Selling and Distribution Expenses (SDE), Salaries and Wages (SWE), Research and Development (RDC) and Training (TEC). Panel regression analysis was employed to evaluate the impacts of cost control on financial performance of pharmaceuticals firms in Nigeria. The results revealed that cost control has significant influence on financial performance of pharmaceuticals firms in Nigeria. The study recommended that the management of the firms should adopt modern strategic cost management method for effective operation in the organization in order to enhance their performance.

Cost Control And Financial Performance Of Pharmaceutical Firms In Nigeria

This paper examined the impact of cost control on financial performance of pharmaceutical firms in Nigeria from 2010 to 2019. Secondary data were used in this study. The secondary sources of data were sought from published annual reports of the six quoted pharmaceutical firms in Nigeria. The variables used in the study include; Profit after Tax (PAT), Cost of Raw Material (CRM), Selling and Distribution Expenses (SDE), Salaries and Wages (SWE), Research and Development (RDC) and Training (TEC). Panel regression analysis was employed to evaluate the impacts of cost control on financial performance of pharmaceuticals firms in Nigeria. The results revealed that cost control has significant influence on financial performance of pharmaceuticals firms in Nigeria. The study recommended that the management of the firms should adopt modern strategic cost management method for effective operation in the organization in order to enhance their performance.

Health Care Meets Strategy: Examining Reconfiguration and Innovation in the Health Care Sector

The challenges facing the health care sector are not just clinical: strategic and organizational factors play a crucial role in the provision of effective and high-quality health care. This symposium investigates how health care processes, outcomes, and innovation are influenced by organization-level strategic decisions and corporate reconfiguration, and by physician-level decisions, such as referral relationships and adoption of new practices and technologies. The five papers showcase research that applies strategic and organizational management theory and methods to study the health care sector. Ultimately, this symposium helps develop a research agenda at the intersection between health care and strategy. Divestment of Relational Assets following Acquisitions: Evidence from the Biopharmaceutical Industry Presenter: Navid Asgari; Fordham U. Presenter: Ram Ranganathan; U. of Texas at Austin Presenter: Vivek Tandon; Fox School of Business, Temple U. Seed Funding: Private Equity Investment, Fertility Clinic Reconfiguration, and Patient Outcomes Presenter: Ambar La Forgia; Columbia U. Presenter: Julia Bodner; INSEAD Strong Ties and Vital Outcomes Presenter: Mathijs De Vaan; U. of California, Berkeley What Facilitates the Use of New Practices within Professional Specialties? Presenter: Jillian Chown; Northwestern Kellogg School of Management Presenter: Dylan Boynton; Northwestern Kellogg School of Management The Limits of User Innovation: Physician Inventors, Medical Device Inventions, and AI Presenter: Colleen Cunningham; London Business School Presenter: David Hall; Duke U.

Development and application of optimization models in the production capacity management strategy

Subject. The article addresses elaboration of methods for strategic management of production capacities to bring them to practical use at the level of individual industrial enterprises. Objectives. The purpose of the study is to develop optimization models to manage production capacities of industrial enterprises at the strategic level. The models are focused on bringing enterprise structure to the optimal condition in terms of output of products that are in demand in the market. Methods. The study employs methods of analysis and synthesis, principles of consistency and complexity, theory of graphs, matrix calculus. Results. To develop existing approaches to the strategic management of production capacities, I offer a multicriteria optimization model, structurally consisting of several mathematical programming problems. Conclusions. If used, the optimization models for the development of a production capacity management strategy will enable modern Russian enterprises to significantly increase their competitiveness and operational efficiency, since the level of production capacity affects the positioning of an enterprise in the market, its cost structure, etc.

Стратегічне управління розвитком галузі коноплярства

The purpose of the article - substantiation of theoretical, methodical and practical aspects of formation of strategic management of development of the hemp industry in Ukraine in the conditions of strengthening of competition and maintenance of sustainable development of rural territories. Research methods. The methodological basis of the study were the provisions of economic theory and systems analysis. The stages of development of cannabis were considered using the historical method. The dynamics of sown areas was studied using the statistical and economic method. Using a logical method, the tools (methods) of strategic management in the field of cannabis were evaluated on the example of the Institute of Bast Cultures of NAAS of Ukraine and the main directions of strategic management development. The method of analysis and synthesis was used to identify opportunities to expand the tools of strategic management (agricultural cluster as a consequence of the use of an innovative European tool - smart specialization). Theoretical generalizations to substantiate the use of existing and innovative tools of strategic management and conclusions were formed using the abstract-logical method. Research results. The historical key moments that influenced the development of the cannabis industry over the last hundred years are highlighted. The inefficiency of the traditional top-down management strategy is proved and a new tool of strategic management of the European model is substantiated - smart specialization as a basis for regional development. The algorithm of creation and efficiency of agrotourism cluster "Slobozhanske hemp" in Sumy region is given. The main directions of development of strategic management in the field of hemp are outlined. A SWOT analysis matrix was used to study in detail the strengths, weaknesses, opportunities and threats of the cannabis industry. On the example of the Institute of Bast Crops of NAAS of Ukraine, the main tools of strategic planning were outlined and analyzed. Scientific novelty. The necessity of reorientation of the strategy of regional management from vertical (top-down) to innovative, local, multilevel (smart specialization) is substantiated. With the help of SWOT-analysis, it identified weaknesses and threats that prevent the defense management strategy to move to a defensive - offensive base strategy. The combination of strengths and opportunities in the long run will provide an opportunity to choose a strategy for sustainable development of the cannabis industry. The expediency of creating the Agro-tourist cluster "Slobozhanske hemp" in Sumy region as a powerful economic mechanism and a "green tourist magnet" is considered. The analysis of the main tools of strategic management of ILK NAAS of Ukraine provided an opportunity to formulate the main directions of development of strategic management in the field of hemp. Practical significance. The reorientation of the regional management strategy from vertical to horizontal provides an opportunity for businesses not only to expand their capabilities in the field of growing and processing hemp products from the introduction of modern scientific advances, due to lower state regulation, but also to revive age-old traditions. everyday life. In general, the solution of the tasks will contribute to the expansion of sown areas of technical hemp, the creation of facilities for processing hemp, the creation of jobs and, consequently, the added value obtained by deep processing of products, increase tax revenues to budgets of various levels. Tabl.: 3. Figs.: 3. Refs.: 15.