In modern conditions of business development, domestic companies are increasingly reorienting their activities to the principles of strategic management, which goal is to create an effective mechanism for achieving certain strategic goals in the future. Selection and implementation of strategy are the basic components of this process, but the formation of conclusions about its effectiveness is no less important stage of strategic management because it allows us to determine how close the company is to the planned results and whether the implemented measures to achieve them justify the need to adjust the existing or introduce a new strategic plan.
Evaluation as the final stage of strategy development is based on comprehensive information and includes determination of possible consequences of implementing the chosen strategy. Strategy is evaluated for quality of planned actions and success of their implementation.
The most effective indicators of strategic activity are: increase or decrease of market share controlled by the enterprise; dynamics of enterprise income in comparison with the dynamics of incomes of competitors; tendencies of obtaining net profit by enterprise and the rate of return on investments; dynamics of increase in sales of products. But all in all, the procedure of evaluating the chosen strategy is the following: whether the implemented strategy leads to the achievement of the firm’s goals. And this is the main criterion for evaluating the chosen strategy. If strategy meets the goals, then its further evaluation is carried out in such spheres: compliance of conditions and requirements of the environment with the implemented strategy; compliance of the strategy with the potential and capabilities of the enterprise; acceptability of the risk inherent in the strategy [2].
Methods for assessing the effectiveness of strategies can be divided into quantitative and qualitative. Their use is determined by the results expected to be obtained. The main quantitative methods are related to the calculation of profitability indicators, financial ratios. Along with the cost indicators, to assess the effectiveness of the strategy balanced indicators that characterize the economic potential of the object are often used [1].
Methods for evaluating the effectiveness of enterprise development strategy in practice can also be divided into three groups: graphic, matrix and index. Graphic methods include a radial diagram of competitiveness and polygon of competitiveness. These methods are easy to use, but they do not make it possible to determine the meaning of a generalized criterion of competitiveness of an enterprise. Matrix methods (BCG, McKinsey, Shell, SWOT, Hofer / Schendel, etc.) allow detailed evaluation of development strategy options, but do not take into account the different weight of factors of competitiveness. Index methods include analysis of comparative advantages of competitors, integral method, self-esteem method. But their main disadvantage is that there is no generally accepted methodology for assessing the competitiveness of an enterprise [1].
Thus, currently a variety of methods and techniques for evaluation of effectiveness of the implementation of enterprise development strategy is used, but in each case we must set define an integral indicator that fully takes into account the impact of all market factors influencing enterprise strategy.
List of references:
1. Кваско А. В. Аналіз методів оцінки конкурентоспроможності підприємства/ А. В.Кваско // Наукові записки. Серія «Економічні науки». – 2017. – Вип. 1 (54). – С. 111-118.
2. Хоменко О. І. Види стратегій та інструментарій формування стратегії розвитку підприємства/ О. І. Хоменко// Управління розвитком. – 2015. – Вип. 3 (181). – С. 131-137.
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Scientific adviser: Lytvynenko Larysa Leonidivna, Ph. D., Associate Professor, National Aviation University
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