Економічний вісник університету (May 2023)
Development of competitive strategies by enterprises in the globalization of market
Abstract
The subject of the study is the process of formation and implementation of competitive strategies of enterprises in the conditions of globalization of markets. The purpose of the article is to study the relationship between the globalization of markets and the development of competitive strategies of enterprises, as well as to provide recommendations to enterprises on the development of effective competitive strategies that take into account global trends and the peculiarities of local markets. The methodological basis of the article can be various research approaches and methods, depending on the specific orientation. The methods of economic analysis are used, in particular, comparative analysis of various competitive strategies, SWOT analysis, Porter's analysis, and others. Also used are methods of sociological research, in particular surveys of various groups of stakeholders, or methods of practical experience, including case studies of successful enterprises and their strategies. Results of the article. It has been established that in the conditions of globalization of markets, enterprises must develop competitive strategies that take into account the trends of global market development and the peculiarities of competition in different regions of the world. The main factors influencing the development of competitive strategies of enterprises in the conditions of globalization of markets are identified, in particular: changes in the political, economic, socio-cultural and technological environment, the growth of competition, changes in consumer requirements, the strengthening of the influence of regulatory bodies, etc. The main strategies that can be applied by enterprises in the conditions of globalization of markets, such as: differentiation strategies, cost reduction strategies, focusing strategies and combined strategies, are studied. It was found that the success of the company's competitive strategy in the conditions of globalization of markets depends on several factors, in particular: choosing the right strategy, effective management of resources, adaptation to local conditions and interaction with partners. Recommendations are given on the development and implementation of competitive strategies of enterprises in the conditions of globalization of markets, in particular: analyze trends in the development of the global market. An additional result is the identification of key factors that influence the formation and implementation of competitive strategies of enterprises in the conditions of globalization of markets. This enables enterprises to more effectively adapt to changing market conditions and develop their strategies based on the analysis of these factors. Field of application of results. The recommendations for the development of competitive strategies that have been formulated can be used by enterprises of various sizes and industries that wish to compete in international markets. In particular, the research can be useful for managers who are responsible for the development of company strategies, as well as for researchers and teachers who deal with problems of competitiveness of enterprises. Conclusions. The development of competitive strategies of enterprises in the conditions of globalization of markets is an important factor in their success and preservation of competitiveness. Effective selection and implementation of strategies requires a deep analysis of external and internal environmental factors, a thorough study of the competitive field, and the use of modern strategic management tools.
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