Economic justification for strategic decisions to improve the competitiveness of the enterprise

O. Vahonova, O. Tryfonova, O. Bondar, N. Petrukha, O. Kyrychenko, O. Akimov

The purpose of this article was the development of theoretical provisions, as well as the formulation of methodological and practical recommendations for the formation of a strategy for increasing the competitiveness of an industrial enterprise based on the use of management tools and methods. It is shown that the strategic management of the competitiveness of enterprises is based on the principles of strategic management, scientific approaches to managing competitiveness and should be aimed at creating key competitive advantages related to market position, development of innovations, increasing labor productivity, efficient use of resources, growth in profits of enterprises, formation of effective organizational and managerial structure of enterprises and the development of human resources. Important one for achieving the competitive advantages of the organization is strategic forecasting, characterized by the ability to predict the development of the market situation. A clear understanding of what to strive for gives management staff an understanding of the business development prospects that must be achieved in the future.

Keywords: competitiveness; industry 4.0; management; strategic decisions; strategy.