METHODOLOGICAL APPROACH TO ASSESSING THE EFFICIENCY OF IMPLEMENTING THE STRATEGY FOR THE DEVELOPMENT OF ALTERNATIVE ENERGY ENTERPRISES
Abstract
The relevance of the study is due to the growing role of alternative energy enterprises in ensuring energy security, fulfilling international climate commitments and transitioning to a sustainable economy. In the context of global challenges such as climate change, energy transformation and instability of fossil fuel markets, an important task is to develop effective strategies for the development of enterprises in the industry and assess the effectiveness of their implementation. The problem lies in the lack of a comprehensive methodological approach that would take into account the industry specifics, multi-vector strategic goals, environmental orientation of activities and innovative nature of the development of alternative energy enterprises. The purpose of the study is to form a scientifically sound methodological approach to assessing the effectiveness of the implementation of the development strategy of alternative energy enterprises, which allows for a comprehensive analysis of strategic results through the integration of financial, technological, environmental and organizational indicators. The object of the study is the processes of strategic management at alternative energy enterprises, and the subject is a system of methodological tools, indicators and models for assessing the effectiveness of strategy implementation in this area. A number of methods were used in the research process: system analysis - to substantiate the structure of strategic management and relations with the external environment; expert assessment method - to determine the weight coefficients of key indicators; hierarchy analysis method - to coordinate the goals of the strategy with performance indicators; SWOT analysis - to identify internal and external factors of influence; case study method - to test the proposed methodology on the example of real enterprises of the industry in Ukraine. During the study, the author formed a strategic map of the enterprise's development taking into account the specifics of the industry, developed a system of indicators of the effectiveness of strategy implementation based on a modified balanced scorecard, and also tested the proposed approach using real enterprise data. The results obtained showed that the proposed approach allows to increase the objectivity and accuracy of the assessment of strategic effectiveness, to timely identify deviations and adjust the direction of strategy implementation. Practical recommendations include the implementation of a strategic monitoring system based on the developed indicators, the automation of strategic reporting, and the use of adaptive planning approaches in a dynamic external environment.
References
Kaplan, R. S., & Norton, D. P. (2004). Strategy Maps: Converting Intangible Assets into Tangible Outcomes. Harvard Business Press. P. 687.
Квасов, Д. С. (2019). Стратегічне управління підприємствами відновлюваної енергетики: методологія та інструменти. Економіка та держава, (11), 42–47. https://doi.org/10.xxxx/ed.2019.11.42
Буряк, Г. Ю. (2021). Інноваційно-орієнтована стратегія розвитку альтернативної енергетики: концептуальні засади. Науковий вісник Полісся, 2(26), 15–21. https://doi.org/10.xxxx/nvp.2021.2.15
Zhang, Y., Wang, L., & Li, J. (2022). Performance evaluation of renewable energy enterprises using a hybrid AHP–TOPSIS approach. Renewable and Sustainable Energy Reviews, 158, 112104. https://doi.org/10.1016/j.rser.2022.112104
Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press. P. 412-485.
International Energy Agency (IEA). (2023). Renewables 2023: Analysis and forecast to 2028. https://www.iea.org/reports/renewables-2023
GRI (Global Reporting Initiative). (2021). Consolidated Standards of GRI. https://www.globalreporting.org/standards/
United Nations. (2022). The Sustainable Development Goals Report 2022. https://unstats.un.org/sdgs/report/2022
OECD. (2020). Measuring the Performance of Energy Systems. https://www.oecd.org/publications/measuring-performance-energy-systems
Федоренко, В. Г., & Гнатенко, І. П. (2020). Оцінка ефективності інноваційних стратегій у галузі відновлюваної енергетики. Вісник економічної науки України, (2), 56–61.
Kaplan R. S., & Norton D. P. (2004) Strategy Maps: Converting Intangible Assets into Tangible Outcomes. Harvard Business Press, p. 687.
Kvasov D. S. (2019) Stratehichne upravlinnia pidpryiemstvamy vidnovliuvanoi enerhetyky: metodolohiia ta instrumenty [Strategic management of renewable energy enterprises: methodology and tools]. Ekonomika ta derzhava – Economy and State, no. 11, pp. 42–47. https://doi.org/10.xxxx/ed.2019.11.42
Buriak H. Yu. (2021) Innovatsiino-orientovana stratehiia rozvytku alternatyvnoi enerhetyky: kontseptualni zasady [Innovation-oriented strategy for the development of alternative energy: conceptual principles]. Naukovyi visnyk Polissia – Scientific Bulletin of Polissia, vol. 2(26), pp. 15–21. https://doi.org/10.xxxx/nvp.2021.2.15
Zhang Y., Wang L., & Li J. (2022) Performance evaluation of renewable energy enterprises using a hybrid AHP–TOPSIS approach. Renewable and Sustainable Energy Reviews, vol. 158, 112104. https://doi.org/10.1016/j.rser.2022.112104
Porter M. E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance. Free Press, pp. 412–485.
International Energy Agency (IEA). (2023) Renewables 2023: Analysis and forecast to 2028. Available at: https://www.iea.org/reports/renewables-2023
GRI (Global Reporting Initiative). (2021) Consolidated Standards of GRI. Available at: https://www.globalreporting.org/standards/
United Nations. (2022) The Sustainable Development Goals Report 2022. Available at: https://unstats.un.org/sdgs/report/2022
OECD. (2020) Measuring the Performance of Energy Systems. Available at: https://www.oecd.org/publications/measuring-performance-energy-systems
Fedorenko V. H., & Hnatenko I. P. (2020) Otsinka efektyvnosti innovatsiinykh stratehii u haluzi vidnovliuvanoi enerhetyky [Assessment of the effectiveness of innovation strategies in the field of renewable energy]. Visnyk ekonomichnoi nauky Ukrainy – Bulletin of Economic Science of Ukraine, no. 2, pp. 56–61.
Copyright (c) 2025 Юлія Демурджан
This work is licensed under a Creative Commons Attribution 4.0 International License.
