FEATURES OF STRATEGIC MANAGEMENT OF INTERNATIONAL CORPORATIONS IN THE CONTEXT OF INCREASING THEIR COMPETITIVENESS

Keywords: international corporations, competitiveness, strategic management

Abstract

The article establishes that economic relations in today's conditions force international corporations to look for ways to intensify development in order to ensure a high level of competitiveness. One of the effective tools for creating and maintaining a high level of competitive position among corporations is strategic management. Assessing the competitiveness of corporations can predict their ability to maintain or expand their competitive position in the market, directly affecting the market situation through quality products, services or satisfied consumers and thus ensuring the efficiency of their operations. This is a topical issue now, when it is necessary to correctly calculate the market requirements and economic opportunities of enterprises and their potential investors. It is substantiated that the strategic development of the company in today's world is multifaceted, but it is certainly aimed at successfully overcoming the uncertainty of the business environment, minimizing costs due to increased competition and increasing the cost of innovation, as well as achieving operational flexibility. In order to enter international markets, national companies must be guided by strategies for creating competitive advantages. The presence of TNCs in domestic markets creates an additional incentive to increase the quality of products and services of national companies, while the opportunity to use experience, sales technologies and development strategies, including those that have been tested in other countries. It is established that currently the newest factors of competition are not only market and economic, but also geopolitical and military, which is a challenge of today. Accordingly, to maintain and achieve a competitive position in the international market, the corporation must actively participate in the process of intensive growth - extensive use of innovation and intellectual potential, intensification of innovation and effective use of key innovation and intellectual competencies, which generally enhances competitive advantage. This presupposes the need for corporations to create new mechanisms for managing innovation and innovation-intellectual competencies, which in turn builds a general concept of intellectual management of competitiveness at the level of an individual corporation.

References

Ковтун О. І. Стратегія підприємства : підруч. О. І. Ковтун. Львів : Новий світ 2000, 2009. 250 с.

Inkpen A. C., Ramaswamy K. Global strategy: creating and sustaining advantage across borders. N.Y.: Oxford University Press, 2006. 247 c.

Goshel J. P. Horses for Courses: Organisation Forms for Multinational Corporations. Sloan Management Review. Winter, 1993. P. 23–35.

Градов С. І. Ризик та вибір стратегії в підприємництві. Київ : КСХЛ, 2001. 380 с.

Адріанов В. Д. Сучасні тенденції у розвитку та управлінні ТНК. Проблеми теорії та практики управління. 2007. № 1. С. 14–18.

Kovtun O. I.(2009) Stratehiia pidpryiemstva : pidruch [Enterprise strategy]. Lviv : Novyi svit-2000, 250 р. (in Ukrainian)

Inkpen A. C., Ramaswamy K. (2006) Global strategy: creating and sustaining advantage across borders. New York : Oxford University Press, 247 р.

Goshel J. P. (1993) Horses for Courses: Organisation Forms for Multinational Corporations. Sloan Management Review. Winter, рр. 23–35.

Hradov S. I. (2001) Ryzyk ta vybir stratehii v pidpryiemnytstvi [Risk and choice of strategy in business]. Kyiv : KSKhL, 380 р. (in Ukrainian)

Adrianov V. D. (2007) Suchasni tendentsii u rozvytku ta upravlinni TNK [Current trends in the development and management of TNCs]. Problemy teorii ta praktyky upravlinnia. № 1, рр. 14–18. (in Ukrainian)

Article views: 24
PDF Downloads: 14
Published
2022-05-31
How to Cite
Kuzmynchuk, N., Kutsenko, T., & Chorniy, D. (2022). FEATURES OF STRATEGIC MANAGEMENT OF INTERNATIONAL CORPORATIONS IN THE CONTEXT OF INCREASING THEIR COMPETITIVENESS. Economy and Society, (39). https://doi.org/10.32782/2524-0072/2022-39-85
Section
MANAGEMENT