The Impact of Strategic Decisions on the Future Development of Organisations and Economic Dynamics
DOI:
https://doi.org/10.57125/FEL.2023.12.25.08Keywords:
enterprise, economic challenges, sustainable development, managerial aspect, innovative approaches, environmental diagnostics, strategic potential, future prospectsAbstract
The study aimed to determine the features of strategic management use in the economy, particularly in enterprises in modern conditions of digitalisation. The primary method of this study was a literature review. The search for relevant literature was conducted in the Scopus and Web of Science databases, focusing on English-language publications from 2015 to 2023. As a result of the screening procedure, 34 academic works were selected that fully met the criteria. It was proved that creating conditions for an effective and dynamic transition to market relations needs to influence economic indicators by developing strategic solutions. In this regard, it is essential to reorganise the excessive concentration of production and monopolies, improve organisational and structural relations, and review outdated command-administrative relations and management methods. The corporate strategy is the basis of strategic planning that helps companies consider several issues related to a purposeful change in the direction of activity, such as the release of new products with a new vocabulary and assortment, the introduction and use of new technologies, and others. The scientific novelty of the study consists of possible risks and the effectiveness of strategic decision-making for the future development of organisations. The conclusions confirmed the effectiveness of strategic decisions in developing an enterprise and determined the possible risks of their impact on the economy and prospects for further development.
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