Quality Assessment of Business Strategy in International Trade: Indicators and Parameters

Abstract

The purpose of the paper is to develop a system of indicators and parameters for assessing the quality of business strategy in international trade based on analysis of the effectiveness of export-import operations, which are evaluated and analysed by managers in developing and implementing business strategies for effective management decisions to expand foreign markets. Methodology. There were used general scientific and special research methods. Assessing the quality of the company’s business strategy in international trade when planning to enter or expand foreign markets was based on economic comparative analysis and grouping, synthesis and formalization. Using the method of coefficients, structural analysis and analytical comparison, groups of indicators are proposed for analysis and evaluation of the effectiveness of business strategy in export and import operations. Economic and mathematical modelling, scientific abstraction, systems analysis contributed to the development of economic parameters for assessing the quality of business strategy in international trade. Results. It is established that the assessment of the quality of the business strategy of the enterprise in international trade should be calculated not only taking into account absolute, relative, structural indicators, but also efficiency indicators. Groups of indicators for analysis and evaluation of the effectiveness of export and import operations that can be used in management activities are proposed. To determine the quality of business strategy in international trade, the feasibility of using the main block of efficiency indicators such as: direct effect of exports/imports, comparative effect of exports/imports, the level of efficiency of exports/imports, and supplementing the block of indicators characterizing economic efficiency (end result) of the business strategy in international trade. An individual approach to the formation of each enterprise’s own system of economic parameters for assessing the quality of business strategy in international trade, taking into account such basic parameters as assessing the scope of achieving business strategy goals, the importance of information data on business strategy assessment, timing of business assessment - strategies, technical and methodological level of evaluation, novelty of the received information for adjustment of business strategy. Practical implications. Formation of a methodological approach to the assessment of such qualitative characteristics of business strategy in international trade as efficiency and effectiveness, determination of basic economic parameters of its evaluation system. Value / originality. The proposed groups of indicators and parameters for assessing the quality of business strategy in international trade can be used in management to confirm the effectiveness of strategic directions of business development and to counteract the making of intuitive decisions by top management in this area.

Dronology and 3D Printing as a Catalyst for International Trade in Industry 4.0.

“…In order to achieve the objectives of the study to identify the catalytic effect on international trade of such Industry innovations 4.0 as 3D printing and drone logistics, a combination of general and special methods is used to ensure the logic, reliability and validity of the study. In particular, such general scientific methods as scientific abstraction, analysis, synthesis, deduction, induction, comparison, grouping and generalization are implemented in the study through a system of economic parameters and indicators of international trade [30] in Industry 4.0, based on analysis of the effectiveness of 3D printing and drone logistics in all its subsystems. The definition of the essence of the categories Industry 4.0, drone logistics, 3D printing and implementation of the evolution of their formation is carried out on the basis of scientific abstraction and historical method.…”

Methodology of Foresight-Analysis in Forecasting the Development of International Trade

“…The development and use of the foresight concept is directly related to modern requirements for strategic management. Currently, there are methodological developments of researchers ongroups of indicators and parameters for assessing the quality of business strategy in international trade, which can be used in management to confirm the effectiveness of strategic directions of business development and counteract intuitive decision-making by senior management in this area (Dumanska, 2021), but they are not the basis for forecasting. Instead, only methods of foresight-analysis can effectively prioritize and mobilize participants to develop forecasts in areas such as science and technology, economics, government, and society.…”