Formalization and elaboration of a company’s business strategy

Abstract

The article deals with issues of formalization and elaboration of business strategies. The authors have formulated a hypothesis that there is no universal strategy ensuring maxi¬mum benefit to an enterprise. The choice of a company’s strategy is considered from the point of view of a game-theoretical interpretation as a competition component. The process of engineering a company’s business strategy is presented in the form of a technological network. The study shows the possibility of automating the selection of a strategy by decision-making support systems. The article outlines the problem of classifying enterprise strategies by general features. The structure of a company’s strategy is formalized as a relationship of a set of strategic objectives in the S.M.A.R.T. technique and a set of means to achieve the goals limited by a company’s capabilities. The authors examine the indicator structure for achieving strategic goals. A definition is given to the type and form of a strategy based on the pattern concept. The article defines a methodology for assessing the probability of achieving the strategic goal. A new concept of a fluid strategy has been introduced along with several other variations of business strategies that might be encountered.

Keywords

• business strategy
• fluid strategy
• game theory
• life cycle
• pattern
• strategic goals