Strategic Management Theory Research Articles

The COVID-19 pandemic and new hire engagement: Relationships with unemployment rates, state restrictions, and organizational tenure.

The purpose of this article is to simultaneously advance theory and practice by understanding how the Coronavirus disease 2019 (COVID-19) pandemic relates to new hire engagement. Prior research suggests starting a new job is an uncertain experience; we theorize that the COVID-19 pandemic creates additional environmental stressors that affect new hire engagement. First, we hypothesize that the occurrence of COVID-19 and unemployment rates relate negatively to engagement. Second, we theorize that the effects of the pandemic become more disruptive on new hire engagement as they gain tenure within the organization. Third, drawing from strategic management theory, we test whether States that introduce stronger COVID-19 policies help enhance the engagement of new hires. Examining a U.S. national sample of 12,577 newly hired (90 days or less) quick service restaurant employees across 9 months (January-September, 2020), we find support for these hypotheses. Subsequent model comparisons suggest there may be health stressors that shape engagement more strongly than purely economic stressors. These findings may be important because they highlight the experiences of workers more likely to be exposed to the pandemic and affected by COVID-related policies. Should the results generalize to other samples and jobs, this study offers potentially new research directions for understanding relationships between macro stressors and new hire perceptions and socialization. It also offers practical implications by helping organizations understand the importance of explicitly managing job insecurity, particularly in terms of COVID-19 policy. (PsycInfo Database Record (c) 2021 APA, all rights reserved).

Neural network modelling of regional innovation ecosystems

The emerging innovation-based economy, intense competition, rapid technological change combined with the need to perform business analysis of huge data flows, make it in creasingly important to introduce new effective approaches to regional development. The re search aims at creating a unified methodology for forming regional innovation ecosystems. The methodological basis of the study includes strategic management theory and regional governance. The paper proposes a number of methods to apply neural network modelling to gain new knowledge, generalize, and achieve a better understanding of the totality of facts and theo ries in the field of innovation ecosystems development in Russia. The authors perform neural network modelling using artificial neural networks – Kohonen self-organising maps and infor mation technologies; analyse the multidimensional space of innovative development indicators in regions by means of data mining. The research systematises current scholarly viewpoints on innovation ecosystems and offers a new perspective on the entrepreneurial ecosystem ap proach, which key players in the innovation economy, including the government, the business, the science and education, the public sector can adopt. The authors demonstrate the uneven ness of Russian regions’ innovative development and suggest a methodological approach for forming innovation ecosystems. When clustering data set of innovative development indicators, the authors distribute regions between the four clusters, thereby proving significant differences between the innovation ecosystems. The analysis of the results of the neural network modelling provides the practical and sound scientific underpinning for the development of innovation ecosystems. The research findings can be useful while formulating development strategies and programmes designed to stimulate innovative processes in the regions.

Methodology in the Modern Theory of Human Capital and Strategic Management of Human Capital

The purpose of the paper is to analyse the place of the methodology in the modern theory of human capital and its relationship with the methodology of strategic management of human capital. Based on the evolutionary development of conceptual ideas and provisions of the human capital theory, the categorical matrix of the modern theory of human capital is substantiated, where the intersection of such vectors as the level of scientific analysis and the angle of analytical consideration of the object of the human capital theory determine the logic of category location. The proposed structural understanding of the methodology allowed the author to build the hierarchical construction of the strategic management of human capital science, which defines the methodology of strategic management of human capital as a specifically scientific methodology. The developed structural and logical scheme in the methodology of the formation of human capital strategic management has five levels: identification, ideology, methodology, method, and optimisation. It includes the categorical matrix of the modern theory of human capital at the identification level. Further research of the topic is proposed to perform at the level of the method and at the level of optimisation, as they are connected with practical tools of strategic management of human capital.

A Meta-Synthesis of Bibliometric Reviews of Research on Managing for Sustainability, 1982–2019

This review of research used meta-synthesis to integrate findings from seven bibliometric reviews of research on managing for sustainability in different management disciplines: leadership, human resource management, entrepreneurship management, innovation management, supply chain management, knowledge management, and strategic management. The purposes of the review were to document empirically key features of this knowledge base as well as to identify leading journals, and documents. The meta-synthesis analyzed bibliographic data associated with 9927 relevant documents sourced from the Scopus index. The review confirmed the existence of a large body of management research on sustainability. This research, which first emerged during the 1980s, has grown exponentially since 2010. Although authorship of this corpus has been concentrated in Anglo-American-European (AAE) societies (60%), the authors of this corpus represent 140 different societies. Moreover, there is a recent trend of increasing contributions from developing societies such as China, India, Malaysia, Brazil, and South Africa. There are large differences in the “between-discipline” proportion of research produced on sustainability topics, with knowledge management and supply chain management evidencing the largest and human resource management the smallest proportions of this literature. The review also provided insight into the most influential journals (e.g., Journal of Cleaner Production, Sustainability, International Journal of Production Economics, Business Strategy and the Environment) and documents in the literature on managing for sustainability. Document co-citation analysis yielded three key conceptual themes within this literature: Sustainable Supply Chain Management, Strategic Management of Resources for Sustainability, Social Entrepreneurship. This analysis further highlighted the central role that strategic management theories have played in shaping sustainability discourse across the different management disciplines.

Using the Resource-Based View in Multinational Enterprise Research

The resource-based view (RBV) has evolved into a preeminent theory of strategic management. It is widely used by international business (IB) scholars since there is considerable synergy in core research questions pursued by IB and strategy researchers. However, in research on multinational enterprise (MNE) behavior, the use of RBV remains limited relative to other influential perspectives, such as the eclectic paradigm, the Uppsala model, and institutional theory. This is not surprising since the RBV was developed to explain performance differentials between country-centric firms with dominant product businesses rather than large MNEs with an expansive product-geographic scope. We describe how these limitations arise from the wider range of outcomes and explanatory variables, multiple levels of analysis, and the spatial, economic, and institutional barriers that are relevant to MNEs. We discuss the application of RBV to MNE research by the first author and other IB scholars. We then provide directions on how future research could use RBV more fruitfully to examine MNE performance and sources of competitive advantage in several areas. These include diversified corporations, subsidiary agglomeration, emerging market MNE internationalization, subsidiary autonomy, international joint ventures and alliances, and corporate social responsibility. Drawing upon teaching case examples from the first author’s work, we also point to the effectiveness of RBV in teaching with business cases, given its focus on firm performance (strategy).

An empirical investigation of network relationships in the market

A tense epidemiological situation and accelerated digitalization have shifted the focus of particular markets and the entire economy towards developing network relationships. In contrast to traditional industry markets, networks have a number of specific features, and measuring them is a crucial research objective. The paper develops an integrated algorithm that allows assessing the network characteristics of the market. The methodological framework includes a set of strategic management theories, which are dominated by the network (relational) approach. The methodological tools embrace a system of indicators generalized in the form of graph theory. The object of the study is the network of tourism services of the Russian Federation, which covers more than 10 types of economic activity. The authors propose calculating indicators of the macro-level (for the entire network) and the micro-level (for specific network nodes). Estimates of the structure, relationships, clustering and other parameters of the tourism services market in Russia testifies to its network nature, value co-creation by all network nodes, significant clustering and the presence of stable flows. Further studies will be concentrating on economic characteristics of the network relationships in the market.

ЛОГІСТИКА В ДІЯЛЬНОСТІ ТОРГОВЕЛЬНИХ ПІДПРИЄМСТВ УКРАЇНИ, ЩО ВИХОДЯТЬ НА РИНКИ ЄС

Subject of study. Logistics processes in the activities of trade enterprises in the conditions of European integration are considered. The purpose of the study. The purpose of the article is to study the logistics processes in the activities of Ukrainian trade enterprises entering the markets of the EU in the context of significant global changes. © Наталія Володимирівна Лагодієнко, Лариса Борисівна Скляр, 2021 Research methods. The methodological basis of the study is the position of theories of enterprise economics, trade, logistics, strategic management, systems and economic growth in the context of European integration, as well as system and structural analysis. Results. The peculiarities of trade and economic relations between Ukraine and the European Union are outlined. The necessity of logistic strategies formation in trade enterprises is substantiated. The structure of foreign trade in goods and the impact of the COVID-19 pandemic on it, as well as the dynamics of exports and imports of goods are analyzed. The basic principles of logistics in the activity of trade enterprises entering the EU markets are determined. The basic scheme of logistic functional branches is formed. The key logistic concepts of trade enterprises are substantiated. Possibilities of solving optimization problems in the field of logistics in trade enterprises entering the markets of the European Union are considered and calculated. The formed sales channel should have developed both logistic, and marketing strategy. Next, the distribution policy is the sales method, commercial service and delivery service. There are relationships between these elements. The method of sale differs depending on whether they connect the seller directly or indirectly with the final recipient and which companies are involved. By choosing a distribution channel, the company decides which tasks it will perform and which will be transferred to independent market partners. Conclusions. This model is an integer linear programming of the transport type and has a similarity to the transport problem, which allows it to be solved by the method of potentials. The use of these models will help optimize the strategic directions of export activities for trade enterprises. Keywords: trade enterprises, logistics processes, export-import operations, optimization, EU countries.

Integrating Insights From the Resource-Based View of the Firm Into the New Stakeholder Theory

A powerful new stakeholder theory (NST) of strategic management is emerging. The theory, which is yet incomplete, offers novel and precise tools for understanding stakeholder involvement in organizations. This article identifies open questions in the NST in five areas (organizational formation, resource development, claims on value, governance, and performance) and suggests ways in which insights from the resource-based view of the firm advance answers to these questions. The conclusion emphasizes that because stakeholders bind resources to organizations, neither the resource-based view nor the new stakeholder view is complete without the other.

The Leaning Tower of Pasta: Lessons in Team Performance and Creativity From a Core Surgical Training Boot Camp Design Challenge

Unity of effort is an important component of strategic leadership and management theory associated with Core Surgical Training (CST) outcome. The aim was to determine the impact of team diversity on task completion: a creative design challenge, during CST Boot camp. Attendees (n = 44) at a single Statutory Education Body's CST Boot camp were stratified into teams related to specialty theme, and set a design challenge as described by Peter Skillman, to build the tallest free-standing tower out of spaghetti (20 pieces), tape (1 m), and string (1 m), with a marshmallow on top in 18 minutes. Primary outcome measure was tower height. Five teams (50%) completed the task with the tallest tower measuring 70 cm (median 51, range 0-70). Median satisfaction with the simulation exercise was 4 (2-5) on a scale of 0 to 5, with 5 corresponding with highest satisfaction. Successful task completion was associated with team surgical specialty (p = 0.032), ethnicity ratio (p = 0.010,), and gender ratio (p = 0.003), respectively. On multivariable analysis, only team gender ratio was independently associated with tower height (Hazard ratio 0.515, 95% confidence interval 0.350-0.759, p = 0.001). Modern leadership theory emphasizes the important dynamic relationship between individual team members, the team, and task completion. General surgery themed teams with a gender mix were most successful in completing the design challenge; whether relative simulation performance predicts strategic organizational skill and career progression will be the next question.

Analyzing the relationship between structural empowerment and perceived supervisor support*

During the last decade, organizational and strategic management theories have exponentially concentrated on the concept of structural empowerment and organizations have prioritized to work with the employees who take the initiative and respond creatively to the challenges of the job to struggle in an increasingly competitive external environment. In this sense, structural empowerment represents organizational policies, practices, and structures that grant employees greater latitude to make decisions and exert influence regarding their work and refers to a formal horizontal decentralization of authority that decisional power flows to employees from the formal structure. Additionally, it is assumed that structural empowerment helps to create a positive perception and has an impact on employees’ perceived supervisor’s support that denotes the degree to which employees’ shape impressions that their supervisor appreciates their contributions in work and is caring about their well-being. From this point of view, owing to intense competition within the private healthcare sector in Turkey, employees’ structural empowerment and perceptions related to their supervisor’s support play a vital role in providing high-quality services and care for patients. In this respect, the present study aimed at examining the relationship between structural empowerment and perceived supervisor’s support in the private healthcare sector’s employees who have especially close interactions with patients as customers. In this regard, the questionnaire has been applied to 240 employees working at the five private hospitals and the data obtained from the questionnaire has been analyzed through the “SPSS 26.0” program. As a result of the analysis, it has been signified that there is a strong positive correlation between structural empowerment and the perceived supervisor’s support. Also, it has been seen that the structural empowerment’s sub-dimensions that are opportunity, formal power, and informal power have a statistically significant relationship with the perceived supervisor support’s sub-dimensions, tangible and intangible.

СТРАТЕГІЧНЕ УПРАВЛІННЯ ПІДПРИЄМСТВОМ ЯК БАГАТОВИМІРНИЙ ПРОСТІР ПАРАДОКСІВ

The expectation of strategic management of the enterprise is an attempt to choose the best strategy. It is established that there are no optimal strategies developed earlier and implemented later. An effective strategy is one that inspires and charges employees with energy: by implementing it, they make it successful. We find out if and to what extent the strategy is successful ex post, after its implementation. A fundamental common feature of successful enterprises is the ability to manage multivectority and paradox. It is substantiated that the paradox of the strategy is that a similar or even the same strategy, well planned and effectively implemented, can bring the company both success and failure. That is, strategies with the best chances of success also carry a high risk of failure. The paradox combines contradictions and is an expression of a cognitive attitude that rejects reductionism, which simplifies reality. Reconciliation of contradictions in business is a fundamental skill and a manifestation of creativity (management as an art). The ability to adaptively search for the ideal balance is called ambidexterity, in the effective use of diametrically different options. The article presents examples of strategic paradoxes faced by the management of enterprises in making key strategic decisions related to development. It is proved that the dualism of paradoxes allows to construct a theoretical multidimensional space of all possible strategies. It includes all completed and implemented strategies, as well as those that have not yet been implemented. The number of possible strategies in such a space is approaching infinity. The introduction of new business models and new strategies can be considered the effect of studying the multidimensional space of strategies. Each new technical or organizational invention may be accompanied by an expansion of this space by adding a new, unknown dimension. It is argued that the multidimensional space of strategic paradoxes is constantly expanding. It is established that the theory of strategic management must constantly solve its main paradox: the use of basic principles (science) and the creation of new solutions (art).

Does strategic alignment matter when SMEs adopt entrepreneurial orientation? An empirical examination in Vietnam

Prior studies suggest that differentiating strategy (DS) has an intervening impact on the relationship between entrepreneurial orientation (EO) and performance. However, they only examine the impacts based on each dimension of EO, provide a lack of theory underpinning why this strategy is the mediator, and focus on the manufacturing industry of an emerging market. Addressing these gaps, the purpose of this study draws from the contingency theory in strategic management to examine whether this strategy is the mediator in the context of Vietnam. Partial least square structural equation modeling used to assess the research model with data collected from 142 SMEs operating in Vietnam. The result indicates that DS fully has an intervening effect on the association between EO and SMEs' performance.

Complexity, continuity, and strategic management of buyer–supplier relationships from a network perspective

PURPOSE: Current research seeks to create an economic model that connects strategic management and network theory. However, most theoretical models do not provide empirical evidence of network relationships’ real structure and attributes. The purpose of the paper is to explore the relation between enterprise characteristics and the characteristics of buyer–supplier relationships in supply chain networks. We are specifically interested in business relationships in networks with respect to the various enterprises’ sizes and sectors of industry. The subject of our research was characteristics, such as network relationship complexity, continuity of relationships, and strategic management in networks. The paper summarizes the results of an empirical study on buyer-supplier networks and accentuates the importance of developing and fostering business collaboration for strategic management. METHODOLOGY: We conducted the questionnaire research in 2016–2019 on 360 enterprises from the Czech Republic. We selected the research sample based on the non-probability purposive sampling method. The members of the research team collected data from an online survey and personal visits to enterprises. The statistical analysis of hypotheses is based on the frequency of managers’ answers. To evaluate results, a two-proportion Z-Test is used for comparing different categories of enterprises according to their enterprise size or prevailing sector of the industry. FINDINGS: The main results show that the differences between enterprises involved in the buyer–supplier structures lie mainly in their size. The survey did not identify differences between industry sectors. The findings show that the complexity of networks in the Czech Republic is not high in terms of the number of suppliers or involvement in many supply networks. The continuity of relationships with partners in buyer–supplier networks is relatively long-term oriented. Long-term partnerships reflect the higher quality of relationships and support future integration. However, large enterprises prefer to build contracts for shorter or longer periods. An overall decentralization strategy characterizes the strategic management of buyer–supplier networks. This finding means dividing competencies such as planning, managing, sourcing, decision-making, transporting (delivering) among more enterprises. IMPLICATIONS FOR THEORY AND PRACTICE: The paper provides an insight into understanding how the buyer–supplier network functions. The theory’s implication builds on the connection of supply chain management and strategic management from the network perspective. Supply chain management is viewed as a part of strategic management, and the synthesis of both research areas opens an innovative view to business theory. ORIGINALITY AND VALUE: The paper’s principal value is the connection between contemporary ideas of strategic management and supply chain management. The synthesis of supply chain management and network approach enhances strategic management theory.

Strategically Comparable Firm-Finding Algorithm (CFFA): A Strategic Management Approach to Valuation

This paper proposes an intuitive valuation framework based on the ideas of strategic management, regression, and portfolio theory. I call the framework the “Comparable Firm Finding Algorithm” (CFFA). The CFFA includes, as a special case, the Compara-ble Company Analysis (CCA), one of the most popular valuation approaches. Although the CFFA generalizes the CCA, it is equally simple, as well as being flexible enough to permit wide applications and variations. Furthermore, since the CFFA is based on re-gression analysis, researchers can easily leverage their data-analysis techniques to incorporate instrument variables, machine learning, and big data. This paper demon-strates the merits of the CFFA by addressing a key challenge in finance, accounting, and strategic management: how to compute the value of intangible strategic resources. The CFFA is also used to identify ESG contributions, to assess intangible (price-to-intangible ratios), to evaluate combinative capabilities, to price entrepreneurial activi-ties, and to develop investment strategies and scenario planning.

«Искусство войны» Сунь-цзы и основные положения стратегического менеджмента

The ancient Chinese treatise «The Art of War» by Sun Tzu is relevant for modern strategic management for its practical orientation and lack of edifying attitudes. The developments and strategies proposed in this treatise make it possible to find new opportunities for the development of strategic management. The main objectives of the research are to identify the prerequisites for using the basic principles and calculations outlined in Sun Tzu’s «Art of War» in order to develop the content of modern strategic management. The theoretical and methodological basis of the study are the provisions and categorical apparatus of the theory of strategic management. In this article, general scientific theoretical research methods are used: the formal-logical method, methods of generalization, comparison and analogy. The results of the work have an important theoretical and methodological significance for the development of the theory of strategic planning and control. The use of the universal principles of the treatise «The Art of War» by Sun Tzu is applicable to strategies in local economic wars, they expand the possibilities for creating effective business strategies.

СТРАТЕГІЧНИЙ МЕНЕДЖМЕНТ В ЕКОНОМІЧНИХ СИСТЕМАХ ТРАНЗИТИВНИХ КРАЇН

The evolution and structural aspects of strategic management are considered. The role of strategic management in managing changes in the economy of transition countries, where economic structures have been disintegrated, is revealed. The most significant relationships between strategic forecasting and strategic planning, as well as between strategic management and specific types of management are analyzed. The general algorithm of strategic planning and strategic management in economic systems, and also terminology in the researched field of knowledge is defined. The problems of strategic management arising from the narrowing of the structure of the economy of transition countries are studied. The relationship between the functional diversity of strategic management and structural diversification of the national economy is revealed. Emphasis is placed on new directions of economic science development that will influence the theory of strategic management. The main types of strategy of economic systems operating in the conditions of open economy and globalization are substantiated. The necessity of applying the principles of hierarchy and iterative approach in the process of strategic management is proved. Classified typical features of strategic management that distinguish it from current management by the nature of the impact. The author's model of strategic planning on the example of optimization of the innovative program of the enterprise by means of methods of linear programming is given. Substantiated recommendations on strategic priorities and institutional mechanisms that will help increase the effectiveness of strategic management based on the structural diversification of the economy of Ukraine, its regions and enterprises. Among the strategic priorities, the main attention is paid to the following priorities: modernization of the real sector of the economy; state support of enterprises that reinvest profits in innovation; equalization of regional disparities on the basis of strategy of specialization and interregional cooperation; formation of national and transnational clusters; involvement of Ukraine in the European policy of specialization and digitalization; implementation of international communication projects and long-term logistics strategy.

EFFICIENCY OF ENTERPRISE MANAGEMENT: CONCEPTUAL APPROACHES TO DEFINITION AND MEASUREMENT

Objective. The objective of the article is to form a concept for determining the effectiveness of enterprise management in a competitive environment in accordance with the strategic goals of enterprise management. Methodology. In the process of research, a set of general scientific methods and research techniques is used: analysis, synthesis, generalization, induction, deduction, the method of analogies. The theoretical and methodological base of the study the provisions of the theory of strategic management, strategic analysis, economic diagnostics, as well as the theory of systems efficiency. To systematize and generalize the numerical material in the study, the methods of tabular and graphical analysis are applied. Results. In the article, based on the study of the main approaches of scientists to the interpretation of the category "efficiency of enterprise management", it is determined that it should be understood as the effectiveness of the functioning of the current management system, determined by comparing the volumes of resources (costs) consumed in the process of achieving goals with the results obtained. Based on the development of the concept of a two-level environment of enterprise activity, it is proposed to determine the efficiency of enterprise management in terms of external efficiency (as the basis of business competitiveness in market conditions) and internal efficiency (determined on the basis of a cumulative analysis of the economic efficiency of management, financial efficiency and efficiency of potential management based on the resource approach formation). The approbation of the proposed approach to assessing the effectiveness of management is carried out on the materials of PJSC "TsGOK" and proved its viability. The developed concept for determining the effectiveness of management involves the implementation of a number of diagnostic stages: setting research goals, defining its key objectives; assessment of the results of the enterprise in the main key areas: production, use of fixed assets, current assets, personnel, materials, etc .; assessment of the external environment, competitive conditions of activity and the strategic position of the enterprise in the market; analysis of indicators by groups: assets; efficient resource management; monetary results of activities; liquidity and financial strength; generalization of the results of the analysis of management efficiency, identification of the strengths and weaknesses of the management process; identification of existing reserves; development of measures to improve the efficiency of enterprise management and build up competitive advantages.

Network approaches and strategic management: Exploration opportunities and new trends

PURPOSE: The analysis of the literature shows that the attempts to conceptualize the strategic aspects of the network bring a significant impact on the development of research on organizational networks. This article aims to analyze the new trends in strategic management, and in particular on the possibility of exploring the network approach in strategic management, through the existing literature and the presentation of the new contributions of the following articles published in the current issue. METHODOLOGY: The article is descriptive in character; thus it is based on a literature review and its constructive critics. A narrative literature review was used to present the main assumptions and features of the network approach in strategic management, along with an indication of emerging trends and new directions. Also the identification of theoretical foundations for understanding the processes of strategic change in inter-organizational networks and the proposition of the way to understand network strategy were presented. FINDINGS: The research included in this issue shows that from a network perspective, business strategy plays an important role in guiding the development of individual relationships and networks. Exploring the network approach in strategic management allows one to adopt the category of network strategy, which can be described through the coexistence of cooperation and competition. IMPLICATIONS FOR THEORY AND PRACTICE: Considerations lead to the conclusion that the business strategy must be expressed in terms of potential changes in the network in which the company operates, taking into account its current and selected position in the network. Despite the fact that the current state of research on organizational networks in the theory of strategic management shows that this approach is already quite well established, on the basis of the analysis of research results concerning the conceptualization of strategic aspects of the network, the existing problems and limitations were identified. ORIGINALITY AND VALUE: The main problems related to the exploration of the network approach and the resulting consequences for the definition of the network strategy were indicated. Also, the combination of an organizational and economic approach with the logic of competitive advantage and relational annuity. The demonstration that the network perspective in strategic management allows for a more complete understanding of the strategic behavior of modern enterprises.

Exploring the influence of resource management between green innovation strategy and sustainable competitive advantage: the differences between emerging and traditional industries

Green innovation strategy is an essential way for enterprises to deal with the deteriorating ecological environment. However, the existing studies pay little attention to the affect path of green innovation strategy on sustainable competitive advantage, and the differences among different industries are not yet clear. In order to solve these problems, from the perspective of resource management, this paper puts forward a theoretical framework on the affect path of green innovation strategy on sustainable competitive advantage at different industry dynamic levels. We selected 210 enterprises in traditional industries and 219 enterprises in emerging industries, and used multiple hierarchical regression methods for empirical testing to reveal the important role of the two core ways in resource management (resource integration and reconfiguration). This study extends the theory of strategic management and sustainable competitive advantage, and provides a useful reference for enterprises to practice green behaviour.

METHODS AND INSTRUMENTS OF CORPORATE SOCIAL RESPONSIBILITY PROVIDING STRATEGIES

The main trend in recent times has been the impact of business on all aspects of society, which in turn, has increased the importance of corporate social responsibility. Business is directly related to the well-being of people, their material, social and intellectual needs, the reduction of inequality and the eradication of unemployment. The enterprises social responsibility is an objective stage in their further development, responding to the challenges of a world economy with a dynamically changing environment. The aim of the study is to support a strategic corporate social responsibility management approach that addresses the social needs of the external and internal environment of enterprises. The article proposes a scientific approach to the choice of methods and tools for strategic planning of enterprises social responsibility. The usage of generally accepted recommendations for the development of a company strategy to justify the stages of CSR strategy development has been proposed. Throughout the development of the Strategic Management Theory, the stages of strategy development have been formed, the usefulness of which is uncontroversial. The methodological basis of the study is a set of general scientific methods, such as theoretical synthesis, comparison, as well as a systematic approach to the development of coherent strategies for different levels of enterprise management, with an emphasis on CSR principles. The strategy development methodology includes the phases of mission and goal identification, strategic analysis, development of strategic options, selection of strategies and evaluation of strategy implementation. The content of each phase should therefore be consistent with the other strategies of the strategic management process in developing the CSR strategy. Certain tools are proposed for each stage of the CSR strategy management.