Financial aspects of competitive strategies of corporations in modern conditions

Анотація

The article considers the transformation of the financial component of competitive strategies of corporations in an environment with high uncertainty. The driving forces of transformations that change the market situation at different levels of the economy are investigated: globalization, digitalization and the Covid-19 pandemic. Their most significant manifestations for corporations are identified, the impact on changes in the nature of competition is established, new approaches to the formation of competitive advantages of corporations are outlined. The measures in the financial subsystem of corporations that are crucial for solving the existing problems are analyzed. These measures for most corporations are proposed to be implemented in three stages: ensuring the security and survival of business; stabilization; recovery and development. The main priorities of the first stage of transformations are: ensuring solvency based on optimization of cash reserves, accelerated introduction of digital technologies into the activities, development of scenarios for further development. Among the most important tasks of the financial manager in the second stage are: implementing operational improvements to increase productivity, reassessing the investment portfolio and strengthening the balance sheet, introducing new approaches to financial planning and analysis designed to work under uncertainty. It is noted that at the third stage of the post-crisis recovery of the corporation, financial activities should focus on achieving strategic competitive advantages. The main strategic steps should be: dynamic redistribution of resources, mergers and acquisitions, creation of new niches and growth opportunities, changes in approaches to strategic financial planning. It is concluded that the impact of the external environment on the financial subsystem of the corporation has an internally contradictory dual nature, requiring simultaneous diversi­fication and universalization of processes and procedures of financial activities. At the same time, diversification of methods and technologies is more effective in the field of strategic financial management, and universalization - for financial routines.

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