INVESTMENT POLICY AS A TOOL FOR THE SUSTAINABLE DEVELOPMENT OF A COMMERCIAL ORGANIZATION

In the conditions of modern economic instability and high competition, the sustainable development of commercial organizations is becoming a priority area of strategic management. Investment policy, acting as a system of directed allocation and use of capital, is of particular importance in ensuring such development. The article reveals the essential content of the concepts of «investment» and «investment attractiveness of an enterprise», focuses on the shortcomings of existing definitions and approaches to their interpretation. It is proved that the investment policy should be consistent with the goals of sustainable development of the organization, including ensuring innovation potential, technological renewal, growth of financial stability and strengthening market positions. The internal and external factors influencing the investment attractiveness of an enterprise, including financial condition, quality of management, production potential and market stability, are considered in detail. The emphasis is placed on the need for a comprehensive assessment of risk factors and differentiation of formal and informal indicators. Special attention is paid to the stages of investment decision-making in terms of strategic planning and compliance with sustainable development goals. In conclusion, it is emphasized that the investment strategy cannot be isolated from the long-term strategy of the organization. It should take into account the stage of the enterprise’s life cycle, the specifics of the industry, the goals of sustainable development and the potential for innovative growth. Thus, a sound investment policy becomes an integral mechanism for ensuring the sustainability, competitiveness and adaptability of a modern organization in a changing external environment.