Decision-making on determining the direction of strategic development of the enterprise within the limits of diversifying its activities

Authors

DOI:

https://doi.org/10.15587/2706-5448.2025.323974

Keywords:

strategic direction of development, strategic capacity, strategic focus, decision-making, diversification

Abstract

The object of research is the process of determining the direction of strategic development of an enterprise depending on its strategic capability and orientation. It is determined that the basis for the operational choice of the strategic direction of the enterprise's development is the supporting information, which is formed on the basis of key aspects of the existence of the enterprise and determines its strategic orientation. It is substantiated that the strategic orientation outlines the fundamental principles of the enterprise's functioning, which is the basis for determining the competitive advantages necessary for its sustainable development in the strategic period. It is revealed that the specification of the strategic orientation by the current results of the influence of environmental factors on the enterprise's functioning allows to outline its strategic capability. It is proved that the level of strategic capability determines the ability of the enterprise to form and implement a certain direction of strategic development. The features of the calculation and the scale for determining the level of the enterprise's strategic capability are presented.

An improved approach to forming/adjusting the direction of the enterprise's strategic development, taking into account its strategic capability and strategic capability, is proposed. The results of the practical application of the recommendations in the activities of the representative enterprise confirmed their effectiveness in terms of efficiency and clarity of the outline of the strategic direction of development. The main and intermediate values of the integral indicator of strategic capability allowed to choose a hybrid direction of development of the enterprise. The chosen direction of strategic development provided the studied enterprise with growth and income from the cultivation of new types of crops – rapeseed with a production profitability of 24.8 %, a yield of 31 centners/hectare, an additional net income of 18,75 thousand dollars and organic crops.

 

Author Biographies

Khrystyna Zalutska, Lviv Polytechnic National University

Doctor of Economic Sciences, Professor

Department of Enterprise and Investment Economics

Tetyana Maslak, Lviv Polytechnic National University

PhD Student

Department of Enterprise and Investment Economics

Mykola Kosobutskyi, Lviv Polytechnic National University

PhD Student

Department of Enterprise and Investment Economics

Dmytro Stefantsov, Lviv Polytechnic National University

PhD Student

Department of Enterprise and Investment Economics

References

  1. Ansoff, H. I., Kipley, D., Lewis, A. O., Helm-Stevens, R., Ansoff, R. (2018). Epistemological Underpinnings and Original Concepts of Strategic Management. Implanting Strategic Management, 3–15. https://doi.org/10.1007/978-3-319-99599-1_1
  2. Nwachukwu, C., Chladkova, H., Fadeyi, O. (2017). Strategy formulation process and innovation performance nexus. International Journal for Quality Research, 12 (1), 147–164. http://dx.doi.org/10.18421/IJQR12.01-09
  3. Arend, R. J. (2024). Uncertainty in Strategic Decision Making. Palgrave Macmillan Cham. https://doi.org/10.1007/978-3-031-48553-4
  4. Elbanna, S., Child, J. (2007). Influences on strategic decision effectiveness: Development and test of an integrative model. Strategic Management Journal, 28 (4), 431–453. https://doi.org/10.1002/smj.597
  5. Gans, J. S., Stern, S., Wu, J. (2019). Foundations of entrepreneurial strategy. Strategic Management Journal, 40 (5), 736–756. https://doi.org/10.1002/smj.3010
  6. Csaszar, F. A., Ketkar, H., Kim, H. (2024). Artificial Intelligence and Strategic Decision-Making: Evidence from Entrepreneurs and Investors. SSRN. https://doi.org/10.2139/ssrn.4913363
  7. Doshi, A. R., Bell, J. J., Mirzayev, E., Vanneste, B. S. (2024). Generative artificial intelligence and evaluating strategic decisions. Strategic Management Journal, 46 (3), 583–610. https://doi.org/10.1002/smj.3677
  8. Yepifanova, I. Yu., Dzyubko, M. Yu. (2017). Formation of the enterprise development strategy in modern conditions. Visnyk ONU imeni I. I. Mechnykova, 2 (55), 99–103. Available at: http://visnyk-onu.od.ua/journal/2017_22_2/22.pdf
  9. Klochkovskyi, O., Hutsol, D. (2023). Methodological principles for determining priority directions for the development of the enterprise development strategy. Economiсs and organization of management, 3 (47), 47–56. https://doi.org/10.31558/2307-2318.2022.3.5
  10. Artemenko, L. P., Fursik, O. I. (2014). Improving strategic potential as a way of strategic development of the company. Efektyvna ekonomika, 1. Available at: http://www.economy.nayka.com.ua/?op=1&z=2670
  11. Zalutska, K. Ya., Hnat, I. A. (2023). Features of Strategic Potential as the Basis of the System of Strategic Management of Enterprise Competitiveness. Business Inform, 10 (549), 353–358. https://doi.org/10.32983/2222-4459-2023-10-353-358
  12. Zalutska, Kh., Kozyk, V., Syzon, M. (2020). Peculiarities of selecting the directory of a diversified enterprise strategic development. Journal of Lviv Polytechnic National University. Series of Economics and Management Issues, 4 (1), 167–173. https://doi.org/10.23939/semi2020.01.167
  13. Yurchyshyn, Y., Parasii-Verhunenko, I., Nazarova, K. (2023). Methods of choosing strategic alternatives for the development of a commercial enterprise. Black Sea Economic Studies, 79. https://doi.org/10.32782/bses.79-32
  14. Litvinov, A. I. (2013). Strategic directions of stabilization and development of economic trade enterprises. Efektyvna ekonomika, 10. Available at: http://www.economy.nayka.com.ua/?op=1&z=2421
  15. Pyvovar, P., Topolnytskyi, P., Tarasovych, L., Zaburanna, L., Pyvovar, A. (2024). Agrarisation vs deagrarisation: strategic vector of rural areas development through the lens of transformational changes. Agricultural and Resource Economics: International Scientific E-Journal, 10 (1), 5–28. https://doi.org/10.51599/are.2024.10.01.01
  16. Omelchenko, O. V. (2014). Teoretychni peredumovy stratehichnoho analizu protystoiannia pidpryiemstv-konkurentiv. Naukovi pratsi MAUP, 1 (40), 200–204. Available at: https://journals.maup.com.ua/journal/40_2014/15.pdf
  17. Gruzina, I., Lepeyko, T., Lohinova, K., Pererva, I., Myronova, O. (2024). Determining directions for transforming the organization’s competence structure depending on its life cycle stage in the context of enabling effective operation in the market. Eastern-European Journal of Enterprise Technologies, 2 (13 (128)), 91–102. https://doi.org/10.15587/1729-4061.2024.300910
  18. Kalynychenko, Yu. (2010). Stratehichnyi rozvytok pidpryiemstva: teoretychni ta praktychni aspekty. Halytskyi ekonomichnyi visnyk, 4 (29), 106–115. Available at: https://elartu.tntu.edu.ua/bitstream/123456789/866/2/GEB_2010_v29_No4-Ju_Kalynichenko-Strategic_development_of_the_enterprise_theoretical__106.pdf
  19. Onyshchenko, V., Kononenko, D., Chupin, M. (2023). Strategic analysis tools in enterprise management: overview, classification, selection criteria. Acta Academiae Beregsasiensis. Economics, 4, 493–506. https://doi.org/10.58423/2786-6742/2023-4-493-506
  20. Podra, O., Petryshyn, N. (2023). Strategic management of the enterprise on the basis of portfolio analysis. European Science, 4, 83–91. https://doi.org/10.30890/2709-2313.2024-28-00-011
  21. Dykan, O., Krykhtina, Y., Frolova, N. (2021). Current methods of strategic analysis of the business the enterprise environment. Pryazovskyi Economic Herald, 1 (24). https://doi.org/10.32840/2522-4263/2021-1-13
  22. Aithal, P. S. (2017). Industry Analysis – The First Step in Business Management Scholarly Research. International Journal of Case Studies in Business, IT, and Education, 2 (1), 1–13. https://doi.org/10.47992/ijcsbe.2581.6942.0021
  23. Artiushok, V. (2022). Methods and models of strategic analysis in the business planning system. Economy and Society, 44. https://doi.org/10.32782/2524-0072/2022-44-61
  24. Shtuchnyi, V., Khlibosolov, A. (2019). Choice and order of using tools in a strategic analysis of agricultural complex enterprises. Derzhava ta rehiony. Seriya: Ekonomika ta pidpryiemnytstvo, 3 (108), 171–177. Available at: http://www.econom.stateandregions.zp.ua/journal/2019/3_2019/35.pdf
  25. Galenko, O. M., Rizva, L. A. (2017). Strategic analysis as a key element of strategic management. Efektyvna ekonomika, 7. Available at: http://www.economy.nayka.com.ua/?op=1&z=5681
  26. Shurpenkova, R. (2015). Strategic analysis as part of enterprise management. Bukhhalterskyi oblik, analiz i audyt, 2 (112), 96–99. Available at: http://ird.gov.ua/sep/sep20152(112)/sep20152(112)_096_ShurpenkovaRK.pdf
  27. Demydenko, S. (2015). Features of strategic analysis of enterprises environment. Efektyvna ekonomika, 9. Available at: http://www.economy.nayka.com.ua/?op=1&z=4290
  28. Blenda, N., Koroteev, M., Sokovnina, D., Sokoliuk, S., Zharun, O. (2021). Strategic analysis of the external environment is the basis for determining the strategic direction of the development of business structures. Collected Works of Uman National University of Horticulture, 2 (99), 124–131. https://doi.org/10.31395/2415-8240-2021-99-2-124-131
  29. Razumova, E. N., Kyrylenko, O. N., Gurina, A. S., Novak, V. O. (2020). Strategic analysis as a tool for the formation and implementation of air company development strategy. Financial and Credit Activity Problems of Theory and Practice, 3 (34), 141–148. https://doi.org/10.18371/fcaptp.v3i34.215456
  30. Reshetnyak, T., Babich, Y. (2016). Methods of the enterprise environment analysis: key accents end limitations. Vcheni zapysky, 17, 74–82. Available at: https://ir.kneu.edu.ua:443/handle/2010/22832
  31. Zalutska, Kh., Petrushka, K., Myshchyshyn, O., Danylovych, O. (2021). Strategic management of the innovative activity of the enterprise. Journal of Optimization in Industrial Engineering, 14 (1), 95–103. https://doi.org/10.22094/joie.2020.677838
  32. Tomchuk, O., Hradomska, I. (2020). The use of strategic management analysis methods in decision-making management decision. Market Infrastructure, 41. https://doi.org/10.32843/infrastruct41-50
  33. Diksit, A., Neilbaff, B. (2019). Mystetstvo stratehii. Putivnyk do uspikhu v zhytti ta biznesi vid ekspertiv teorii hry. Lviv: Vydavnytstvo Staroho Leva.
  34. Prokhorova, V., Bezuhla, Y., Koleshchuk, O., Zaitseva, A. (2023). Formation of economic freedom and entrepreneurial culture as strategic dominants of enterprise development transparency. Eastern-European Journal of Enterprise Technologies, 6 (13 (126)), 24–32. https://doi.org/10.15587/1729-4061.2023.292324
  35. Zalutska, K., Protsenko, V., Maslak, T. (2023). Organizing effective competitive development of enterprises through the formation of a rational base of resource provision: methodological aspect. Eastern-European Journal of Enterprise Technologies, 1 (13 (121)), 6–17. https://doi.org/10.15587/1729-4061.2023.273783
  36. Zalutska, K., Maslak, T. (2021). Factors of selection of effective way of strategic development of enterprises in the context of circular economy. State and Regions. Series: Economics and Business, 6 (123). https://doi.org/10.32840/1814-1161/2021-6-6
  37. Buzhymska, K., Zhelikhovska, M. (2021). Current trends and models of entrepreneurship development in the condition of digital economy. Entrepreneurship and Trade, 28, 15–19. https://doi.org/10.36477/2522-1256-2021-28-02
  38. Hrashchenko, I. S., Khimich, H. O., Khimich, V. A. (2013). The economic essence of the category of “strategic potential of the enterprise”. Ahrosvit, 3, 45–48.
  39. Kolektyvne silskohospodarske pidpryiemstvo “HRIaDA”. Available at: https://clarity-project.info/edr/05521130/finances?current_year=2023#google_vignette
  40. Kozyk, V., Zalutska, Kh., Zalutskiy, V. (2018). Hybrid Development of Modern Enterprises. Economics, Entrepreneurship, Management, 5 (1), 39–46. https://doi.org/10.23939/eem2018.01.039
  41. Ozymyi ripak 2023: rentabelnist vyroshchuvannia ta vyklyky novoho sezonu. Available at: https://lidea-seeds.com.ua/news/ripak/ozymyy-ripak-2023:-rentabelnist-vyroshchuvannya-ta-vyklyky-novoho-sezonu
  42. Rentabelnist oliynykh padaie – skilky soi, soniashnyku ta ripaku zbere Ukraina. Available at: https://kurkul.com/spetsproekty/1549-rentabelnist-oliynih-padaye--skilki-soyi-sonyashniku-ta-ripaku-zbere-ukrayina
  43. Parkhomets, M., Uniiat, L., Chornyi, R., Chorna, N., Hradovyi, V. (2023). Efficiency of production and processing of rapeseed for biodiesel in Ukraine. Agricultural and Resource Economics: International Scientific E-Journal, 9 (2), 245–275. https://doi.org/10.51599/are.2023.09.02.11
  44. Petrushka, I., Yemelyanov, O., Zagozetska, O., Musiiovska, O., Petrushka, K. (2023). Assessment of the Impact of Biofuel Production on the Sustainable Development of Enterprises in the Agrarian Sector of Ukraine. Developments in Information and Knowledge Management Systems for Business Applications, 117–132. https://doi.org/10.1007/978-3-031-25695-0_6
Decision-making on determining the direction of strategic development of the enterprise within the limits of diversifying its activities

Downloads

Published

2025-02-27

How to Cite

Zalutska, K., Maslak, T., Kosobutskyi, M., & Stefantsov, D. (2025). Decision-making on determining the direction of strategic development of the enterprise within the limits of diversifying its activities. Technology Audit and Production Reserves, 1(4(81), 28–36. https://doi.org/10.15587/2706-5448.2025.323974

Issue

Vol. 1 No. 4(81) (2025): Economics of enterprises. Macroeconomics

Section

Economics and Enterprise Management

License

Copyright (c) 2025 Khrystyna Zalutska, Tetyana Maslak, Mykola Kosobutskyi, Dmytro Stefantsov

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

The consolidation and conditions for the transfer of copyright (identification of authorship) is carried out in the License Agreement. In particular, the authors reserve the right to the authorship of their manuscript and transfer the first publication of this work to the journal under the terms of the Creative Commons CC BY license. At the same time, they have the right to conclude on their own additional agreements concerning the non-exclusive distribution of the work in the form in which it was published by this journal, but provided that the link to the first publication of the article in this journal is preserved.