Development of Strategic Management Tools and Techniques of Enterprise Competitiveness in the Context of Digitalization

Abstract

The effective strategic management of the competitiveness of domestic enterprises directly depends on the understanding of the development prospects, mission, and vision of the company's future by top management and employees. Due to the modern conditions of a rapidly changing business environment, we have to find new ways of competitive advantage management and new strategies to be successful. The development of modern economic science is focused on the creation of universal methods and management tools and techniques that could ensure the competitive development of enterprises. However, the rapidly changing business environment is the reason for the occurrence of barriers, such as the absence of a clearly defined strategy, misunderstanding of tools and methodologies, inability to foresee prospects for developing, inertia caused by excessive bureaucratization of the management system.

Managing Coal Enterprise Competitiveness in the Context of Global Challenges

“…The strategic plan should also be able to monitor the competitors and the competitive advantage periodically. The strategic management goals should efficiently comply to achieve the organizational goals by considering social, economic, and environmental aspects [29]. The other method for effective business management is the balanced scorecard that indicates the significant shortcomings or lack in performance or business competitiveness.…”