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Strategies for managing small and medium business enterprises

Author(s) Revutskaya A., Candidate of Ekonomikal Sciences, , Uman National University of Horticulture
Дибенко Г. І., , ,
Category Economics
year 2022 issue Issue number 100. Part 2
pages 91-100 index UDK 330.334.73
DOI 10.31395/2415-8240-2022-100-2-91-100 (Link)
Abstract The article describes the features of modern small and medium business. The relevance of the study of the relationship between strategy and business management is substantiated. Modern interpretations of the concepts "strategy", "strategic management", "strategic set of strategies", "strategic change", "strategic change management", "competitive potential of business" are given. Theoretical bases of strategic change management at small and medium enterprises are revealed. The material presented in this article confirms the relationship and interdependence of business and a set of strategies. Any business - small, medium or large, is based primarily on pre-designed strategies that focus on specific financial and strategic goals, certain market segments and restrictions on specific activities. A study was conducted to determine the place of strategic changes in the system of strategic management of the enterprise. Also, business management strategies are systematized and their potential opportunities for the formation of competitive advantages of business are identified, the analog model of ensuring the competitive potential of the business through the implementation of a strategic set of strategies has been formalized. A generalized classification of strategies used in practice for effective business management and development is described. The potential possibilities of strategies for the formation of competitive advantages of business in the current conditions of market transformation are identified. The main stages of the strategic management process are analyzed and the main approaches to the development of strategic change management algorithm at the enterprise are considered. Areas of further research are recommended. These include: analysis of the impact of strategies on the business management process, assessment of the effectiveness of the use of strategies for effective business management and selection of priority strategies for effective business management.
Key words strategy, management, small business, medium business, development, strategic recruitment, strategic change management.
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