DEVELOPMENT OF AN AGRICULTURAL ENTERPRISE'S ECONOMIC DEVELOPMENT STRATEGY TO INCREASE ITS COMPETITIVENESS

Abstract

The article examines the main elements of forming a strategy for the economic development of an agricultural enterprise. It is noted that in conditions of the market globalization and an unstable external and internal environment, in order to ensure the competitiveness of their own products, agricultural enterprises should use effective mechanisms of strategic management. Rapid changes in the market environment and the significant impact of scientific and technological development have increased the need for strategic management of agricultural business development. It was found that the systematicity and completeness of strategic planning are one of the important methodological elements in the process of scientific understanding, and the formation of a strategy for the economic development of an agricultural enterprise is a complex and multifaceted process. It is proved that the formation of the economic development strategy of the enterprises of the agrarian sector of the economy is a complex process that includes forecasting indicators of production intensification, which are based on the methods of economic analysis, in order to prevent possible threats, taking into account the need for resources, the evaluation of alternatives and high profitability. It was concluded that the strategy of economic development of an agricultural enterprise is one of the important prerequisites for increasing the level of its competitiveness. The use of new technologies, services, management methods for the purpose of qualitative changes in the technical and organizational policy of the enterprise is the basis of its economic development strategy, which creates competitive advantages. It is noted that increasing the quality of products and their attractiveness is one of the prerequisites for the formation of a modern strategy for the economic development of agrarian business structures. It was emphasized that expanding of own production and increasing of the market share, maintaining competitive advantages depends a lot on improving the quality of products. The basis for achieving sustainable financial results, profit maximization, and a good and reliable reputation among customers is solving the problem of improving product quality, which is an integral part of the company's development strategy. It is emphasized that the use of a balanced system of indicators in the strategic management system at the enterprise will allow to increase the effectiveness of strategic management at all its stages: starting from strategic analysis, strategy development, its implementation and ending with strategic control.