DEFINING A PROMISING COURSE: DEVELOPING AN ORGANIZATION'S DEVELOPMENT STRATEGY

Abstract

The article found that the process of developing an organization's development strategy is an integrated approach that covers internal and external factors. The key stages are identified, such as the analysis of exogenous and endogenous impacts, the formulation of an overall strategy, and the establishment of a mission and goals. It is revealed that functional strategies, including financial, personnel management, marketing, production and R&D, play a significant role in achieving common goals. The importance of flexibility of strategies and their updating for successful adaptation to changes in the business environment and society is emphasized.