Conceptual Principles of Organization of Strategic Efficiency Management of Economic Activities

Abstract

In market conditions, performance is a vital characteristic both at the level of the individual enterprise and at the level of the industry and the national economy as a whole as well. This allows determining whether it is rational to choose the economic behaviour of economic entities in the external environment whether the available potential and resources are rationally used to solve current tasks and achieve strategic goals of their development. However, despite the importance of this category, there is currently no clear standard definition of "strategic performance of an economic entity". Therefore, the study aims to scientifically and theoretically substantiate the essence of the category "strategic effectiveness of the subject of economic activity" to determine its features, evaluation criteria and approaches to management. It was found out in the study that in contrast to current or tactical performance, strategic performance is a difficult category to measure due to the variability of long-term evaluation criteria. As criteria for strategic effectiveness, the authors propose to use the market value of businesses and their ability to generate value for their key stakeholders. The content of the process of strategic performance management of the subject of economic activity, which consists of subsystems of strategic goals management, resource management, management of interaction with the external environment and evaluation of strategic effectiveness, was determined. It was proposed to determine the quality of strategic performance management by the degree and speed of approximation of the actual state and characteristics of the economic entity to the strategic goal, which is to fully meet the needs and expectations of key stakeholders, owners, consumers, employees, public, local and state authorities, international partners, etc.