FACTORS OF SELECTION OF EFFECTIVE WAY OF STRATEGIC DEVELOPMENT OF ENTERPRISES IN THE CONTEXT OF CIRCULAR ECONOMY
Authors:   Lviv Polytechnic National University, Zalutska Khrystyna , Maslak Tetyana ,   Lviv Polytechnic National University
Published: April 2022

Functioning of a modern enterprise in the strategic period is more effective in case of utmost performance by it of the full production cycle, which allows one to thoroughly control the process of products manufacturing by fostering the search for ways of its improvement, cost reduction, increase of sustainability capacity, etc. Besides, the performance of all stages of the closed production cycle of a certain product provides the possibility for the creation of new goods that bring new needs and, consequently, cause the necessity to increase the production output for these products (nanotechnological production) or manufacturing of the goods that incline to the integration with attractive stakeholders, which leads to the creation of the closed production cycle of another product and increase of the efficiency and competitiveness of enterprises, a certain sector of the economy of the country or its region. That is, the successful strategic activity of enterprises depends on the efficiency of the enterprise process, which constitute the closed production cycle, that increases the level of economic development of the enterprise, region and country on the one hand and outcome of its business-processes aimed at the obtainment and retention by the enterprise of long-term competitive advantages (positions) on the market taking into account modern conditions of their functioning on the other hand. Consequently, the ideal way of strategic development of modern enterprises depends on a constant search for balance between the elements of the enterprise rational functioning, which provide the effectiveness of the development of the economy of the enterprise, region, sphere or country, and efficiency of the enterprise business-processes aimed at the increase of the level of its competitiveness in the long-term period. Thus, the objective of this work is to determine and substantiate the conditions, basic principles and key elements of the enterprise activity that shall be taken into account when selecting an effective strategic way of its development in the context of the circular economy. It was determined that the effectiveness of the closed production cycle provides the efficient strategic activity of the enterprise in case of a well-balanced combination of its business processes aimed at the maintenance of rational development of the promising areas of the enterprise activity. The main basic elements were defined and substantiated that shall be tracked and the meaning of which shall be taken into account when determining permissible limits for each of the analyzed aspects (principles of the circular economy, efficiency of business-processes) depending on the variant of their particular combination at a certain period of the enterprise functioning. The work proved the expediency of the application of the indicators of business-processes efficiency, integrative adaptability, diversification convergence, coefficient of business-processes synchrony, coefficient of administration effectiveness as key points for tracking the state of the enterprise and adjustment of the strategic area of its activity taken into account modern conditions of development. The algorithm of parameterization of the process of development of machine-manufacturing enterprises was given through the determination of its key parameters that allow making decisions on the selection of the respective strategic way of the enterprise development in the context of the circular economy.