Criteria for selecting new fields of company activity within development of a corporate strategy

Aim. The study is aimed at studying approaches to selecting new fields of company activity when updating a corporate strategy, as well as identifying key criteria for decision-making. Objectives. The work seeks to determine the goals of selecting new fields; identify factors influencing the achievement of goals; develop an algorithm for creating the selection criteria; assess the significance of factors. Methods. The work employed expert and questionnaire surveys (14 specialists and 20 managers), Ishikawa diagram for analyzing cause-and-effect relationships, as well as methods of weighting coefficients and contextual analysis. Results. The author identified three goals, in particular, increasing profits, increasing the value of the company and manageability. Key factors were identified as synergy between fields, consumer groups with high growth potential, industries with high profit potential. As well as an algorithm for selecting fields based on the significance of factors was developed. The most significant factors include synergy and focus on consumers with growing demand. Conclusions. The study confirmed the importance of synergy and focus on high-potential consumers. It is recommended to take these factors into account to improve the effectiveness of strategic planning.