STRATEGIC MANAGEMENT IN CONDITIONS OF MODERN ECONOMIC TURBULENCE: APPROACHES AND PRACTICES

Abstract

THE PURPOSE OF THIS ARTICLE. The purpose of this article is to systematize the theoretical foundations and practical approaches to strategic management of enterprises in a market economy, with a focus on justifying the feasibility of implementing a concentration strategy as a tool to improve operational efficiency and strengthen the competitive position of business structures both nationally and internationally.

RESEARCH METHODS. A comprehensive range of methods was used, including analysis and synthesis to systematize modern approaches to strategic management and identify relationships between its components; comparative analysis to juxtapose traditional and novel strategies in the context of digital technologies and agile management methods; induction and deduction to formulate general conclusions based on specific examples and theoretical propositions; and a systems approach that allowed strategic management to be viewed as a holistic process aimed at ensuring enterprise adaptability.

PRESENTATION OF THE MAIN RESEARCH MATERIAL. The article explores modern approaches to strategic management as a key tool for ensuring long-term competitive advantages for enterprises in an unstable and dynamic business environment. Strategic management is considered a continuous integrated process that includes the development, implementation, and adjustment of decisions to align internal capabilities with market demands. Emphasis is placed on the importance of combining clearly defined goals with flexible adaptation mechanisms to external changes, including technological transformations, market fluctuations, and regulatory shifts. Key functions of strategic management are identified: innovation development, risk management, creation of a unique market position, and resource optimization. The concentration strategy is characterized as an effective tool for achieving specialization, cost optimization, and enhanced customer loyalty, while considering potential risks of focusing on a narrow segment. Recommendations are offered for implementing comprehensive strategies using a systemic approach.

CONCLUSIONS FROM THE CONDUCTED RESEARCH. In the context of modern economic turbulence, strategic management is not only a tool but a necessary condition for the survival and sustainable development of enterprises. Successful strategies must be based on a combination of clearly formulated goals and high adaptability through digitalization, innovation implementation, and efficient resource utilization. At the same time, strategic planning must consider both the internal potential of the enterprise and constant changes in the external environment, which requires a systematic approach and the use of flexible management methods to enhance competitiveness and the ability to effectively respond to modern market challenges.

KEYWORDS: strategic management; competitive advantage; innovation; risk management; concentration strategy; systems approach; market positioning; marketing strategy; strategic orientation.