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Liburkina L. M.

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Strategy: Essence, Advantages, Methods and Techniques of Formation
Hnedina K. V.

Hnedina, Kateryna V. (2019) “Strategy: Essence, Advantages, Methods and Techniques of Formation.” Business Inform 2:14–20.
https://doi.org/10.32983/2222-4459-2019-2-14-20

Section: Economic Theory

Article is written in English
Downloads/views: 41

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UDC 658:005.21

Abstract:
The article is concerned with research of economic essence of the concept of «strategy», advantages, methods and techniques of its formation and materialization. A review and a generalization of the existing approaches to the interpretation of «strategy» are carried out, the author’s own definition of this category is provided. The advantages of strategy formation are covered and its role in ensuring the economic security of enterprise is defined. The methods and techniques of business analysis, planning and management, used in the formation of strategy, implementation and evaluation of results of the implemented strategic measures are considered. Within each stage of the strategy formation and materialization, the author allocates the basic methods and techniques, which are widely used in practical activity of enterprises. In forming a strategy of enterprise it is proposed to use such instrument as «sketch of a business strategy», which reflects the main components of the strategy and on the basis of which a detailed strategic plan can be developed.

Keywords: strategy, business strategy, strategic plan, advantages of strategy formation, methods and techniques of strategy formation, sketch of a business strategy.

Fig.: 1. Tabl.: 5. Bibl.: 15.

Hnedina Kateryna V. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting, Taxation and Audit, Chernihiv National University of Technology (95 Shevchenka Str., Chernihiv, 14027, Ukraine)
Email: [email protected]

List of references in article

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Hnedina, K. V. “Strategy formation: the role in ensuring economic security“. Innovatsiinyi rozvytok informatsiinoho suspilstva: ekonomiko-upravlinski, pravovi ta sotsiokulturni aspekty. Chernihiv: Chernih. nats. tekhnol. un-t, 2018. 152-153.
Gogol, T. A., and Hnedina, K. V. “Strategic management of enterprise activity in the context of sustainable development concept“. Naukovyi visnyk Polissia no. 3 (2016): 181-189.
Porter, M. E. “The Five Competitive Forces that Shape Strategy“. Harvard Business Review, vol. 86, no. 1 (2008): 25-40.
Cadle, J., Paul, D., and Turner, P. Business Analysis Techniques. BSC, The Chartered Institute for IT, 2014.
Osterwalder, A., and Pigneur, Y. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers. Wiley, Hoboken, 2010.
Ching, H. Y., and Fauvel, C. “Criticisms, variations and experiences with business model canvas“. European Journal of Agriculture and Forestry Research, vol. 1, no. 2 (2013): 26-37.
“Strategy Tools“. https://www.mindtools.com/pages/main/newMN_STR.htm

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