Analysis of factors influence on competitive strategies of agricultural enterprises in the context of innovative development

The agricultural sector of the economy is the basis for the emergence of business relations with enterprises in various spheres of the agro-industrial complex and with many enterprises in related industries that produce vital goods and services. The current global instability requires a strong and stable functioning system for subjects of agrarian businesses and enterprises of other branches of the national economy, which increases the competitiveness of domestic food products in the world and domestic markets. Analysis of the current state of business processes in the agricultural sector allows us to state that the manifestation of the results of scientific activity in agricultural production can be expressed as an innovative component. Many factors influence the formation of competitive strategies of enterprises, each significant in forming the strategy itself and strategic planning of the enterprise’s activities. It is determined that when formulating a strategy, it is necessary to achieve maximum compliance between internal factors, such as the capabilities of the enterprise and the capabilities of its environment. It is noted that it is difficult to achieve ideal compliance. Therefore, finding an acceptable balance between various and conflicting solutions in developing a strategy is necessary. When making strategic decisions, comparing various opportunities, factors, and contradictions is necessary. Competitive strategies of agro-industrial enterprises in the context of innovative development are a critical factor in their success in the global market. Innovations contribute to increasing efficiency, adapting to environmental changes, and meeting modern consumer needs. Developing and implementing such strategies requires an integrated approach that considers both internal resources and external conditions of enterprise activity. It has been determined that competitive strategy is a key tool for ensuring an enterprise’s long-term success in the market. Business entities cannot influence and significantly change external environmental factors, but they must consider them to form competitive strategies. In addition, all business entities must be flexible and respond appropriately to new factors and emerging challenges. Keywords: factors, strategy, environment, enterprise, development, competitiveness.

Authors

Publication Details

Journal
Ukrainian Journal of Applied Economics and Technology
Published
2024-08-30
DOI
https://doi.org/10.36887/2415-8453-2024-3-66
Primary Topic
Digitalization and Economic Development in Agriculture
Type
article
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article

Analysis of factors influence on competitive strategies of agricultural enterprises in the context of innovative development

Oleksandr Romaniuk
Ukrainian Journal of Applied Economics and Technology
Digitalization and Economic Development in Agriculture
article

Analysis of factors influence on competitive strategies of agricultural enterprises in the context of innovative development

Oleksandr Romaniuk
article en

Abstract

The agricultural sector of the economy is the basis for the emergence of business relations with enterprises in various spheres of the agro-industrial complex and with many enterprises in related industries that produce vital goods and services. The current global instability requires a strong and stable functioning system for subjects of agrarian businesses and enterprises of other branches of the national economy, which increases the competitiveness of domestic food products in the world and domestic markets. Analysis of the current state of business processes in the agricultural sector allows us to state that the manifestation of the results of scientific activity in agricultural production can be expressed as an innovative component. Many factors influence the formation of competitive strategies of enterprises, each significant in forming the strategy itself and strategic planning of the enterprise’s activities. It is determined that when formulating a strategy, it is necessary to achieve maximum compliance between internal factors, such as the capabilities of the enterprise and the capabilities of its environment. It is noted that it is difficult to achieve ideal compliance. Therefore, finding an acceptable balance between various and conflicting solutions in developing a strategy is necessary. When making strategic decisions, comparing various opportunities, factors, and contradictions is necessary. Competitive strategies of agro-industrial enterprises in the context of innovative development are a critical factor in their success in the global market. Innovations contribute to increasing efficiency, adapting to environmental changes, and meeting modern consumer needs. Developing and implementing such strategies requires an integrated approach that considers both internal resources and external conditions of enterprise activity. It has been determined that competitive strategy is a key tool for ensuring an enterprise’s long-term success in the market. Business entities cannot influence and significantly change external environmental factors, but they must consider them to form competitive strategies. In addition, all business entities must be flexible and respond appropriately to new factors and emerging challenges. Keywords: factors, strategy, environment, enterprise, development, competitiveness.

Ukrainian Journal of Applied Economics and TechnologyVol. 2024(3)
Openalex Percentile: Top 60%
Digitalization and Economic Development in Agriculture
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