Strategic management as a catalyst for the development and financial stability of modern enterprises

Анотація

The impact of strategic management on the financial situation of a company is one of the main topics that draw the attention of both the academic community and management experts. Strategic management covers a wide range of processes and approaches aimed at formulating and implementing enterprise strategies to achieve long-term goals. The financial situation of a company is determined not only by its current income and expenses but also by strategic decisions that affect its financial performance in the future. Therefore, the study of the correlation between strategic management and economic efficiency of a company has a great importance for understanding the principles of successful management and achieving sustainable financial development of enterprises. The topic is highly relevant in the context of difficult economic conditions caused by global challenges, such as financial crises, changes in trade relations, technological revolutions, etc. This study is based on an analysis of existing literature on strategic management and financial performance. As a company's financial condition is one of the leading indicators of its success and viability, understanding the connection between strategic management and financial performance. finance becomes extremely important for management, investors, analysts, and all business stakeholders. The article reveals that the choice of a company's development strategy is an essential factor that affects its financial state. In addition, it has been found that the application of effective strategies can help to ensure the economic stability and success of an enterprise, as well as provide a competitive advantage in the market. It is also essential to take into account the autonomy and interaction of competitive strategies and key objects of management attention to ensure their effectiveness under various conditions.

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