EFFECTIVE BUSINESS DEVELOPMENT STRATEGY
Authors:   National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute», Boichuk Natalka , Afanasenкo Anna ,   National Technical University of Ukraine «Igor Sikorsky Kyiv Polytechnic Institute»
Published: July 2023

The article is devoted to the study of strategies for effective business development. In order to increase the efficiency of activities in order to obtain high profits, it is necessary to improve the quality and productivity of services, to increase the ratings of one's activities. The study analyzed that in the process of choosing strategies that will affect business efficiency, it is worth focusing on external changes and improving management processes at the enterprise. In the activities of business structures that require changes and improvements, it is advisable to use the benchmarking strategy. Benchmarking is a technique that will help you outperform competitors on many indicators. It was analyzed that the process of comparing efficiency with the results of the best companies, searching and studying successful ideas, analyzing and applying them in business or organization affects the optimization of the company's activities. Benchmarking technology combines business development strategy development, industry performance analysis, and competitor analysis into one. In this study, the main indicators of competitive comparison are considered: the strategy of the organization on the market, consumer demand for products, services or goods, price offer, quality, cooperation with consumers or business partners, delivery, customer reviews, product range, economic and financial performance indicators organizations It was analyzed that the continuous process of comparative analysis can help the company to adapt, learn about innovations faster, apply them in practice, and make the company successful. The advantages of benchmarking, which will become a key factor in business success, are analyzed. The article considers the classification of benchmarking types, which are managed by entrepreneurs depending on the activity of the organization. It was analyzed that depending on the objects of study, benchmarking is divided into external, internal, functional and competitive. Internal benchmarking allows the enterprise to objectively examine its own activities. External benchmarking of single-specialty enterprises is a way of mitigating competition. Functional is used by organizations for training on the example of different areas of activity that involve similar functions or work processes. Competitive benchmarking involves comparing performance with competitors in the same industry at different levels. The conditions for choosing the type of benchmarking are analyzed, depending on the nature of the tasks, the time of implementation, and the availability of sufficient resources for the effective implementation of the research method, specialists with experience in benchmarking implementation. The main principles of benchmarking that ensure competitiveness and purposeful development of the company are considered: analogy, reliability of measurement and similarity of compared characteristics, consistency in the exchange of information between enterprises. The benchmarking approach makes it possible to implement better business practices, to improve quality and efficiency, to form a new concept of business processes, which can lead to the improvement of the company's activities, and will contribute to the development of the company's competitiveness.