Efficiency of strategy implementation. Evaluation of the effectiveness of using the strategy at the enterprise Efficiency of implementing the strategy concept criteria and indicators
Operational and strategic efficiency are very important to achieve high performance of the organization. It is necessary to be able to distinguish between these concepts, since they are implemented in different ways.
Operational efficiency is about performing similar activities better than competitors. Nowadays, it is becoming increasingly difficult for organizations to maintain a leading position in the market. To achieve the highest profitability, it is necessary to constantly improve operational efficiency, but this is not enough.
Strategic positioning - doing activities that are different from competitors or doing similar activities but in different ways. To eliminate inefficiency and achieve the best results, managers take actions related to improving operational efficiency through the application of quality management programs, performance comparisons with major competitors, and so on. To increase the level of productivity, managers of enterprises and organizations should constantly improve their activities: apply the latest modern technologies and approaches to management and thereby develop the form of a learning organization.
The following key characteristics of a potentially effective strategy are distinguished:
mental correctness of the chosen (developed) strategy. It includes knowledge and understanding of the poles of an effective strategy;
situationality. From the point of view of the situational approach, an effective strategy always integrates the characteristics of this particular situation into the key factors for the future strategic success of this particular organization;
the uniqueness of the strategy. In order to be successful in its business, an organization's strategy must have some strong content points that will set it apart from its main competitors;
future uncertainty as a strategic opportunity. The external environment of the organization is changing faster and more unpredictably. Moreover, each change carries both threats and new additional opportunities for achieving future success;
flexible fit. In order to realize the opportunities provided by the external environment, an organization needs to ensure that its own strategic changes are adequate to the external changes.
An effective strategy evaluation system requires four main elements:
motivation for evaluation. Before an evaluation can be made, the top manager must be willing to evaluate the performance or strategy he wants to implement.
This desire is driven by the realization that he must achieve a fit between the organization and the proposed strategy.
There is another potential motivating factor: if a top manager hopes to receive remuneration depending on the compliance of indicators with the tasks set;
information for evaluation. Another requirement for effective evaluation is information in a user-friendly form to evaluate the proposed strategy as well as its implications once implemented. This requires an effective management information system and, in addition, a complete and reliable report on the possible results of the proposed strategies and the results of their implementation;
criteria for evaluation. It is necessary to evaluate the strategy according to certain criteria, which can be grouped as follows:
- a) sequence. The most important function of the strategy is to ensure consistency with the activities of the organization. The strategy should not present mutually inconsistent goals and policies;
- b) consistency/suitability. The strategy must correspond to the external environment and the critical changes taking place in it.
The way the organization relates to the environment has two aspects - the enterprise must both comply with and adapt to it and at the same time compete with other firms that also seek to adapt;
- c) feasibility. The strategy should neither overestimate available resources nor create unsolvable problems in the future;
- d) acceptability. The strategy must meet the expectations of specific participants in the organization;
- d) advantage. The strategy should ensure the creation and (or) maintenance of a competitive advantage in the chosen area. Competitive advantage can usually be attributed to one of three areas - superior resources, superior skills, and superior position. The first two represent the enterprise's ability to do more and/or better than its competitors.
Positional advantage can come from foresight, superior skill and/or resources, or simply luck.
Once a good position has been won, it can be held; decisions based on the results of the strategy evaluation.
Evaluation in itself is not the final step. It should guide decisions about the choice of strategy and help determine the effectiveness of the strategy. Appropriate systems should be in place for corrective action based on the evaluation of the information provided.
There are two main ways to evaluate the effectiveness of the chosen strategy (figure 1.3).
Figure 1.3 - Methods for evaluating the effectiveness of the strategy
The quality of strategic management largely depends on the correct choice and effectiveness of the implementation of the strategies of the enterprise.
It is advisable to evaluate the effectiveness of the strategic management of an enterprise in the following areas:
assessment of the internal effectiveness of strategic management;
assessment of the external effectiveness of strategic management.
It is desirable to evaluate the effectiveness of the strategy in all areas that characterize the company's activities.
Five conditions that make up the ability to manage a firm are essential to developing a successful strategy.
The conditions under which the possibilities of managing the firm are formed are indicated in table 1.3.
Table 1.3 - Factors that affect the potential of the firm (approximate potential)
|
General management |
Efficiency, innovation in the management system, the presence of elements of creativity, risk in making management decisions, modern technology for the implementation of management procedures, the quality of the implementation of projects that are being carried out, the quality of social functions |
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Financial management |
The performance of control functions, the distribution of financial resources, the possibility of obtaining a loan, the payment of taxes, the state of handling cash, investment, accounting for inflation, analysis of the financial condition of the company |
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Marketing |
Market research, state of marketing, state of advertising, marketing of new products, international marketing, pricing approaches, distribution methods |
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Research and design and implementation work |
Creative spirit, availability of scientific research, application of modern technology research, new product design, new technology design |
Based on the results of Table 1.3, we note the following factors: general management focuses on growth and production efficiency. At the same time, everything that interferes with minimizing the cost of producing a unit of output should be singled out; the financial department operates in cash and strictly performs the functions of a controller; marketing deals with sales and its analysis; the organization of the production process is the main function in the company's strategy.
Research and development work are potentially dangerous when classifying a strategy. They boil down to improving the technology of the production process and improving products.
The factors listed in Table 1.3 are used both to determine the current potential of the firm and to establish optimal capabilities and determine the capability standard.
One of the most mature systems of strategic management is the Japanese system. The main idea of the Japanese model of strategic management is to develop goals that will then form the basis of long-term planning. There are basic goals (sales volume, growth rate, profit, market share, capital structure, dividends, etc.) and operational or productivity goals (capital turnover ratio, investment per employee, cost reduction policies, etc.). ).
With the diversification of Japanese enterprises, the relationship between the parent company and branches is very important.
Depending on the nature of the activities of controlled companies, the strategy of subsidiaries and branches is built. So, when a branch is oriented towards production efficiency, goals are set according to such indicators as cost reduction, sales volume, profit. The construction of strategic management at a subsidiary takes place regardless of the goals of the parent company, but under its control.
Controlled organizations do not have absolute autonomy, but still retain some sovereignty. A large diversified company implements strategies depending on the nature of the product.
The most relevant in Japanese companies is the use of a strategic quality plan aimed not at quantitative measures, but at improving the quality level of the production of goods and services. The innovation strategy is the primary determinant in the process of choosing a strategy. Japanese companies aim to produce the latest products using advanced technologies, thus increasing their competitiveness. For successful Japanese companies, 21% of sales come from new products that have been developed over the previous 5 years, they provide 23% of profits.
The purpose of strategic planning is to give a basic assessment of the future profitability of various strategic business centers, and on this basis to make decisions about the termination of one or another type of business activity of the company (i.e. the closure or sale of individual enterprises) or the introduction into new areas of business activity. American strategic management has a fairly large flexibility to changes in consumer demand and market competition.
This is achieved by predicting and scheduling jobs on a rolling basis, reducing lead times and maintaining close communication with the customer. At Russian enterprises in modern market conditions, the issue of the effectiveness of strategic management remains especially relevant. Russian legislation does not clearly spell out the main directions, as well as elements and tools of strategic enterprise management.
Thus, the strategy is a generalized model of actions necessary to achieve the goals. Goals are the key results that the company strives for in its activities. By setting certain goals, the management formulates those main guidelines on which all the activities of the enterprise and its staff should be focused. To work effectively, managers set specific, measurable, relevant, stimulating, visible goals for the organization for a certain period of time. The development of effective goals strengthens incentives, sets clear performance targets and creates a clear picture of expected results. Typical goals include goals related to achieving the share of this enterprise in the sales markets, growth in business volume, its profitability, profitability and other characteristics. The value of developing a strategy that allows the firm to survive in the competition in the long term is extremely high. In a highly competitive and rapidly changing market situation, it is very important not only to focus on the internal state of affairs of the company, but also to develop a long-term strategy. At present, a strategy that ensures the adaptation of the company to a rapidly changing environment is extremely important.
Short description
The purpose of the course work is to study the methodology for assessing the effectiveness of the organization of strategic management on the example of JSC "VZEP".
To achieve this goal, it is necessary to solve the following tasks:
- consider the theoretical aspects of strategic management, the role of strategic management in organizing the work of the enterprise;
- to analyze the main stages of development and implementation of the enterprise strategy;
Introduction
1 Application of a strategic approach in enterprise management
1.1 The role of strategic management in the organization of the enterprise
1.2 Stages of development and implementation of the enterprise strategy
1.3 Methods for assessing the effectiveness of strategic management
2 Evaluation of the effectiveness of the organization of strategic management in JSC VZEP
2.1 Brief description of VZEP JSC, its mission and goals
2.2 Analysis of the external and internal environment of VZEP JSC
2.3 Analysis of JSC VZEP strategy
3 Ways to improve the efficiency of JSC VZEP strategic management
Conclusion
Files: 1 file
Introduction |
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1 Application of a strategic approach in enterprise management |
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1.1 The role of strategic management in the organization of the enterprise |
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1.2 Stages of development and implementation of the enterprise strategy |
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1.3 Methods for assessing the effectiveness of strategic management |
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2 Evaluation of the effectiveness of the organization of strategic management in JSC VZEP |
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2.1 Brief description of VZEP JSC, its mission and goals |
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2.2 Analysis of the external and internal environment of VZEP JSC |
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2.3 Analysis of JSC VZEP strategy |
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3 Ways to improve the efficiency of JSC VZEP strategic management |
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Conclusion |
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List of sources used |
INTRODUCTION
An enterprise without a clear and effective development strategy is not a business, but a set of assets weighed down by liabilities. In order not only to survive, but also to strengthen your competitive position in the market, it is necessary to engage in strategic planning at a professional level.
Strategic planning is the development of a strategy using a set of formalized procedures that are aimed at building both a model of the company's future and a program for the transition from the current state to this model. The logic of strategic planning is based on the definition of a pattern, called the principles of planning.
The main directions of strategic planning are the reduction of the costs of fixed and working capital, the saving of living labor, the saving of natural resources, the savings in the process of circulation and consumption of goods and non-productive assets.
Today, enterprise development strategies are the fundamental core in enterprise management, which should ensure the sustainable economic development of the enterprise, increasing the competitiveness of its products and services.
A feature of improving enterprise development strategies is that each enterprise is unique in its kind, and therefore the process of developing a strategy for each company is unique. It depends on the position of the company in the market, the dynamics of its development, its potential, the behavior of competitors, the characteristics of the goods produced or services provided, the state of the economy, the cultural environment, and many more factors.
At the same time, there are some fundamental points that allow us to talk about some generalized principles for choosing and implementing a development strategy and implementing strategic management. Tightening competition, accelerating changes in the environment, the dynamism of changes in consumer demands, the unexpected emergence of new business opportunities, the unpredictability of some environmental factors (economic, political, etc.) - this is not a complete list of reasons that led to a sharp increase in the importance of strategic management .
The relevance of the topic of the course work lies in the fact that in the process of finding competitive advantages, an enterprise needs to make informed strategic decisions. The problem of assessing and developing ways to improve the efficiency of the enterprise management system is becoming one of the central problems of management practice, since the management of the enterprise is obliged to build the management process in such a way as to ensure the fullest use of all resources and high end results.
The purpose of the course work is to study the methodology for assessing the effectiveness of the organization of strategic management on the example of JSC "VZEP".
To achieve this goal, it is necessary to solve the following tasks:
Consider the theoretical aspects of strategic management, the role of strategic management in organizing the work of an enterprise;
Analyze the main stages of development and implementation of the enterprise strategy;
To study methods for evaluating the effectiveness of the organization of strategic management in an enterprise;
Consider the main ways to improve the efficiency of strategic management of enterprises.
Textbooks and periodicals of domestic and foreign authors on the research topic were used as a theoretical basis.
1 APPLICATION OF A STRATEGIC APPROACH TO MANAGEMENT OF THE ENTERPRISE
1.1 The role of strategic management in the organization of the enterprise
Currently, business leaders are increasingly talking about new approaches to strategic planning and management. Strategic management is becoming increasingly important in the management of the company.
Strategic management is a programmatic way of thinking and managing that ensures the coordination of the goals, capabilities of the enterprise and the interests of employees. It involves not only determining the general course of activity (behavior) of the enterprise and organizing business on its basis, but also increasing the motivation and interest of all employees in its implementation.
Today, the scope of strategic management is extremely diverse. It gives huge advantages to organizations operating in various spheres of life of modern society. These advantages lie in the rational use of limited resources and mainly time. In addition, strategic management gives rise to a sense of confidence among the personnel of organizations and their managers, contributes to the consistent development and implementation of management decisions, and focuses on sustainable development in market conditions.
Strategic management is a type (field) of management activities, consisting in the implementation of selected long-term goals through the implementation of changes in the organization; it is the process by which an organization interacts with its environment; this is a field of scientific knowledge that studies techniques and tools, methodology for making strategic decisions and ways to put this knowledge into practice.
Let's single out the main principles of strategic management:
1. Justified and conscious choice of goals and strategies for the development of the organization. The development process of organizations is full of contradictions. To resolve them, effective solutions should be developed in the field of creating new products, promoting them to markets, designing technologies, etc., which determine the capabilities of organizations.
2. Constant search for new forms and activities to improve the competitiveness of the organization.
3. Ensuring correlation between the organization and the external environment that controls and manages the subsystems of the organization and its elements. Correlation is understood as some specific relationship between the individual parts and elements of the system, which determines the best conditions for the functioning and development of the organization.
The process of strategic management can be conditionally divided into three phases: strategic planning, strategic organization, strategic control and regulation. Each of them solves certain relatively independent control tasks.
Thus, strategic management is a rather complex management system based on predicting the environment and developing ways to adapt an enterprise to its changes.
1.2 Stages of development and implementation of the enterprise strategy
The enterprise development strategy is developed in the course of the implementation of the strategic planning process carried out at the enterprise. In essence, this is the resulting stage of strategic planning work.
In general, the concept of a development strategy is accompanied by two stages of the strategic activity of a specialized team of an enterprise:
Strategic planning work - development of a set of strategies, ranging from the basic strategy of the enterprise to functional strategies and individual projects;
Works on strategic management - the implementation of a certain strategy in time, the adjustment of the strategy in the light of new circumstances.
An enterprise strategy is a time-ordered system of priority directions, forms, methods, means, rules, methods of using the resource, scientific, technical and production potential of an enterprise in order to cost-effectively solve the tasks set and maintain a competitive advantage.
The development of the strategy and its implementation are carried out within the framework of five major stages, each of which in turn consists of a number of steps.
The main stages in the development and implementation of the strategy are:
Analysis of the external and internal environment of the organization;
Definition of vision, mission, goals of the organization;
Formation of alternatives and choice of strategy;
Strategy implementation;
Evaluation and control of the execution of the strategy .
Analysis of the environment is the initial stage in strategic management, its trigger. At this stage, the strengths and weaknesses of the organization are identified, its own resources and the possibility of attracting external resources are evaluated. The internal environment, as a rule, is evaluated in the following areas: marketing, finance and accounting, production, personnel, management organization. Analysis of the external environment is aimed at identifying and understanding opportunities and threats, as well as assessing the competitive situation in the industry and determining the competitive advantages of the organization.
Based on the analysis of the environment, the vision, mission and goals of the organization are formed. A vision is an image of a possible and desired future state of an organization. Vision allows you to formulate a mission. The mission is aimed at the “real” organization and reflects the purpose of the business, its main task. The development of long-term and short-term goals is based on the mission of the organization.
The formation of the organization's strategy directly follows the stages of analyzing the internal and external environment and determining the vision, mission and goals of the organization. The implementation of this stage is to identify possible strategic alternatives, i.e. possible options for building a strategy. Then, as a result of various selection methods, the best alternative is selected.
After the optimal strategic alternative is chosen and the strategy of the organization is determined, the process of implementing the strategy is carried out, i.e. thoughts are turned into actions.
An effective strategy implementation process includes the skillful solution of the tasks of developing an adequate chosen strategy for the organizational structure, using the optimal combination of material, financial and human resources, and managing organizational culture changes in a timely manner. Strategic alternatives at the stage of implementing the strategy turn into a specific operational plan.
The final stage in the process of developing and implementing a strategy is the stage of strategic control.
Strategic control is monitoring the progress of the implementation of the strategy, identifying problems or changing the initial conditions on which the developed strategy is based and adjusting them in a timely manner. There are four types of strategic control - strategic observation, baseline control, contingency control, and strategy progress control.
Thus, even the most successful strategy, if it is not supported by organizational means for its worthy implementation, will not be effective, because. it is not able to provide a high level of customer satisfaction and high productivity. Similarly, the competent implementation of an unsuccessful strategy does not give the desired result. Only a first-class strategy and its adequate implementation can lead the company to a strong position in the market.
1.3 Methods for assessing the effectiveness of strategic management
The effectiveness of strategic management largely depends on the correct choice and effectiveness of the development of the implementation of the strategies of the enterprise. The main directions for determining the effectiveness of strategic management are presented in Figure 1.1.
Improving the efficiency of the IC, as well as managing the complex, is carried out at three levels: managerial, corporate and at the enterprise level.
The efficiency obtained by the SC as a result of its activities depends on many components and is determined according to the objective function
, Y® → max ,
where V- option for the development of the complex;
X - external and internal factors of influence influencing the formation of a strategic management system;
P- the accumulated potential of the enterprises of the complex;
R- resources necessary for the implementation of investment and construction activities;
Q – the volume of products produced by the UK, thousand rubles;
I– attracted investments;
AND - the situation of the external environment in which the UK enterprises operate.
The calculation of indicators helps to assess how successfully the activities of the investment strategy at the top level have been implemented. regional efficiency and identifying ways to increase it.
The indicators of sectoral and regional efficiency of a particular project include:
without discounting:
net income;
Payback period;
Index of profitability of expenses;
Financial feasibility of investment strategy projects;
The need for additional funding;
with discount:
The total accumulated value of discounted income;
net present value,
Investment efficiency ratio,
Payback period, taking into account discounting,
profitability index,
Investment return index,
The need for additional financing, taking into account discounting.
Total accumulated value of discounted income(PV) and net present value(NPV) are respectively calculated by the formulas
; (2.29)
, (2.30)
where r- discount rate;
IC- the amount of investment in the project;
k – year for which NPV is calculated.
When forecasting income by years, it is necessary to take into account, if possible, all types of income, both industrial and non-productive, that may be associated with this project. So, if at the end of the project implementation period it is planned to receive funds in the form of the salvage value of equipment or the release of part of working capital, they should be taken into account as income of the corresponding periods.
If the project involves not a one-time investment, but a consistent investment of financial resources over m years, then the formula for calculating NPV modified as follows:
, (2.31)
where i- predicted average inflation rate.
Under return on investment index (IRR) understand the value of the discount factor at which NPV project is zero:
IRR = r, at which NPV = f(r) = 0. (2.32)
Meaning IRR shows the maximum allowable relative level of expenditure that can be associated with a given project. For example, if the project is financed entirely by a loan from a commercial bank, then the value IRR shows the upper limit of the acceptable level of the bank interest rate, the excess of which makes the project unprofitable.
To determine the value IRR the method of successive iterations is applied using tabulated values of discount factors. To do this, using the tables, two values of the discount factor are selected r 1 <r 2 so that in the interval ( r 1 ,r 2) function NPV=f(r) changed its value from "+" to "-" or from "-" to "+". Next, apply the formula
, (2.33)
where r 1 - the value of the tabulated discount factor, at which f(r 1)>0 (f(r 1)<0);
r 2 - the value of the tabulated discount factor, at which f(r 2)<0 (f(r 2)>0).
The calculation accuracy is inversely proportional to the length of the interval ( r 1 , r 2), and the best approximation using tabulated values is achieved when the length of the interval is minimal (equal to 1%), i.e. r 1 and r 2 – closest to each other values of the discount coefficient that satisfy the conditions (in case of changing the sign of the function from "+" to "-"):
r 1 - the value of the tabulated discount factor, minimizing the positive value of the NPV indicator, i.e. f(r 1)=min r{f(r)>0};
r 2 - the value of the tabulated discount factor, maximizing the negative value of the NPV indicator, i.e. f(r 2)=max r{f(r)<0}.
By mutual replacement of coefficients r 1 and r 2, similar conditions are written for the situation when the function changes sign from "–" to "+".
Calculation algorithm payback period (PP) depends on the uniformity of the distribution of projected income from the investment. If the income is evenly distributed over the years, then the payback period is calculated by dividing the one-time costs by the amount of annual income due to them. When a fractional number is received, it is rounded up to the nearest whole number. If profits are unevenly distributed, then the payback period is calculated by directly counting the number of years during which the investment will be repaid with cumulative income. The general formula for calculating the PP indicator is:
PP=n, at which. (2.34)
profitability index (PI) is calculated by the formula
. (2.35)
Investment efficiency ratio(ARR) is calculated by dividing the average annual profit PN on the average value of the investment (the coefficient is taken as a percentage). The average investment is found by dividing the initial amount of capital investments by two, if it is assumed that after the expiration of the analyzed project, all capital costs will be written off; if residual or salvage value is allowed ( R.V.), then its estimate must be eliminated.
. (2.36)
This indicator is compared with the ratio of return on capital advanced, calculated by dividing the total net profit of the enterprise by the total amount of funds advanced into its activities (the result of the average net balance).
To calculate the indicators of regional efficiency, the method of cumulative effect for the billing period of the investment project is used ( cash- flow). This technique is as follows:
1. The cash flow from operating activities is calculated by the years of use of the investment project.
2. The balance of investment activity is calculated as an algebraic sum of inflows and outflows of funds due to the implementation of the investment project.
3. The base of taxation and tax deductions is calculated for each period of use of the investment project.
4. The size of the annual installment to repay the loan is calculated.
5. The total balance of cash flow from investment and operating activities is calculated for each year of use of the investment project.
6. The balance of accumulated cash flow from operating and investment activities is calculated on an accrual basis, starting from the “zero year”, when the investment costs were incurred, and ending with the last year of using the investment project.
7. The cumulative effect is calculated for the entire period of use of the investment project.
where En i is the total effect of operating and investment activities for each specific year of the investment project, rub.
, (2.38)
here d i - net income from operating activities for i th year of using the investment project, including the amount of net profit and depreciation, rubles;
FROM ki- the balance of inflows and outflows for each year of the investment activity of the enterprise, rub.
The total effect from operating and investment activities, or net income from the implementation of an investment project, includes the sum of net profit and depreciation less investment costs. In this case, net profit is calculated as the difference between profit from operating activities and the amount of taxes paid from profit to the budget.
The number of investments per 1 rub. finished products
K inv = IC/ V, rub. (2.39)
The above indicators are used to evaluate the effectiveness of one project, i.e. enterprise level efficiency.
For the corporate level, efficiency is defined as the total efficiency of the implementation of all projects within the framework of the investment strategy for the consolidation of construction companies.
In addition, to assess the effectiveness of the investment strategy at the corporate level, the indicator is used - production efficiency growth rate E growth.
E gain = 
,
%, (2.40)
where C i - the price of a unit of construction volume;
AND i 1 - the volume of production of a construction company after the implementation of the investment process;
A i 0 - the volume of production of a construction company before the implementation of the investment process;
FROM i o , C i 1 - the cost of production of the enterprise of the construction complex, respectively, before and after the implementation of the investment project;
N- the number of enterprises included in the construction complex;
, – coefficients of efficiency of production of a separate type of product of one enterprise of the UK, respectively, after and before the implementation of one investment measure. In fact, these coefficients reflect the profitability of the production of a particular type of product.
Let's return to the performance indicators for the management level.
Total economic effect for the region is equal to the sum of indicators of regional efficiency of each investment project implemented within the framework of the development strategy.
E reg = , (2.41)
where Ereg – total economic effect for the region, rub.;
E reg i – regional efficiency i-th investment project, rub.;
n – the number of investment projects implemented in the region as part of the investment strategy.
Regional efficiency indicators reflect the effectiveness of the investment strategy measures from the point of view of the respective region, taking into account the impact of the implementation of planned investment projects on the activities of enterprises in the region, the social and environmental situation in the region, and the income and expenses of the regional budget.
The calculation of basic indicators of regional efficiency involves taking into account externality - economic and non-economic consequences arising in the external sphere during the production of goods, but not reflected or not fully reflected in their market prices, as well as public goods - some works, products or services, the consumption of which by one entity does not prevent their consumption by others.
When calculating estimated indicators of regional efficiency, cash receipts from operating activities are calculated based on sales volume and product cost. Additionally, external effects are taken into account in cash flows from operating activities, for example, an increase or decrease in the income of third-party organizations and the population, due to the consequences of the project. Externalities include externalities and public goods.
The additional E d effect obtained in related industries, as well as social E s and environmental E e effects are taken into account only within the region.
The valuation of manufactured products and consumed resources is carried out taking into account regional characteristics.
When calculating sectoral efficiency indicators, it is recommended to take into account that enterprises participating in the implementation of investment projects may be part of broader structures: industries or sub-sectors of the national economy, aggregates of enterprises forming single technological chains, financial and industrial groups, holdings or groups of enterprises.
The total regional efficiency E reg is calculated by the formula
, (2.42)
where n– the number of investment projects implemented within the framework of the investment strategy. For enterprises within the framework of the investment strategy, the effectiveness of its implementation is the sum of the effects from the activities of each construction company that is part of the UK. Evaluation of the effectiveness of the implementation of the investment strategy is calculated using the following indicators.
Construction investment intensity factor characterizing the ratio of investments in the non-construction sector and in the construction industry.
Kint=(I- Ipage)/ Ipage, (2.43)
where I– gross volume of investments in the economy of the region;
Ipage– the volume of investments in the development of the IC, rub.
Investment absorption rate shows the volume of construction investments per unit of production growth.
I osv = I st R /(Vi- Vo) , rub., (2.44)
where Ipage- the volume of investments in the construction complex of the region; rub.;
Vi, Vo- the volume of production of enterprises of the construction complex, respectively, after and before the implementation of the investment strategy measures.
In addition, to assess the effectiveness of the implementation of the development strategy, a number of additional absolute indicators are used, such as the social effect, expressed in the number of newly created jobs, the creation of additional beds in hospitals, student places in secondary schools, places in clubs and cultural centers, places in preschool institutions, visits per shift in polyclinics, the number of families that have improved their living conditions.
Integral economic effect from the implementation of the investment strategy for the region E is.
E is = E un i× Q i, (2.45)
where Eis is the integral economic effect from the implementation of the investment strategy in the region, rub.
e ip i – economic effect from the implementation i-th event of the investment strategy, rub.
Q i– share of investments in i-th event in the total investment in development.
Economic effect for the investor determined using the method cash- flow and is calculated in the business plan of the investment project.
Thus, a system of indicators of the effectiveness of the implementation of the investment strategy at different management levels has been formed (Table 2.4).
Table 2.4
The system of performance indicators for the implementation of the investment strategy at different management levels
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Management level |
Index |
Designation |
Formula |
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Territorial level |
Regional efficiency i th event |
E reg |
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Integral economic effect from the implementation of the investment strategy for the region |
E is \u003d E ip i × Q i |
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Total economic effect for the region |
Ereg |
Ereg = , |
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Construction investment intensity factor |
K int =(I- I page )/ I page |
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Investment absorption rate |
K osv = Ipage/(Vi- Vo) |
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Corporate level |
Growth rate of production efficiency |
e gain |
e gain =
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Enterprise level |
Net cumulative effect from project implementation (net present value) |
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Total accumulated value of discounted income |
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Return on investment index |
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Payback period |
PP=n, under which . |
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Number of investments per 1 rub. finished products |
K inv |
K inv =IC/ V |
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profitability index |
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Investment efficiency ratio |
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There are two ways to increase the efficiency of a construction company as the main component of the construction complex: by reducing losses and by releasing additional reserves. There are two types of losses: temporary and costly.
The main ways to reduce temporary losses by implementing an investment strategy using an investment policy tool
Consider the main options for the development of the enterprise (Fig. 2.12):
1. Option B-1, “inefficient development”. In this variant, the construction period will consist of the standard construction time laid down in the business project, t norms, the loss time also taken into account in the business project, t sweat, and the total loss of time S t pot, which are obtained based on the conditions of this option, i.e. crisis conditions of activity and imbalance of all factors affecting the efficiency of the construction organization.
Thus, the construction period will be equal to:
T=t norms + t sweat + S t sweat. (2.46)
2. Option B-2, “poorly effective development”. In this option, the construction period will consist of the standard construction time laid down in the business project, t norms, loss time, also taken into account in the business project, t sweat, and total loss of time S t sweat arising from the fact that the development of enterprises is local in nature, due to the weak interaction of the PCF environment with the FPV environment and the almost absence of interaction with the internal environment of the enterprise, St sweat =S t inconsistent
In this option, the construction period is equal to:
T=t norms + t sweat + S t mismatch (2.47)
3. Option B-3, "sustainable development". In this option, the construction period will consist of the standard construction time laid down in the business project, t norms, and loss time, also taken into account in the business project, t norms.
T=t norms + t sweat. (2.48)
4. Option B-4, "maximum development." In this option, the construction period is equal to the standard construction time laid down in the business project, t norms. Thus, even additional time reserves arise due to the reduction of planned losses. t sweat.
T=tnorms.(2.49)
As can be seen in the figure, different construction time in different options with an equal payback period gives different time to effect and, consequently, a different amount of revenue from the project Si.
Sum S 4 will be the maximum, S 1 is the minimum.
The effect of reducing time losses E t occurs when comparing S various options with S ideal option S 4=S max.
Et= Smax –Si.
S 3 ® Smax.
Rice. 2.12. The life cycle of a construction object with various options for the development of an enterprise
The main ways to reduce temporary losses through investment policy are as follows:
1. Formation of a legislative mechanism to minimize the travel time of funds from the investor to the project executor.
2. Accounting for all possible losses at the stage of business design.
3. Taking into account the factors of direct and indirect impact in the development of investment programs.
4. Competent distribution of investment funds between industries. If this condition is met, FCF will have a positive impact on the development of the construction industry.
The main ways to reduce costs through the use of an investment policy tool
At the design stage
1. The presence of a developed infrastructure for the formation of investment policy implies the optimization of the business planning process. The use of a well-established business planning mechanism in a certain region can reduce the time for one project, therefore, reduce the price of business design, increase investor confidence in the quality of the project. This will reduce the time to make an investment decision (effect D S cf arising in the course of the project implementation due to changes in external conditions, for example, the level of inflation, tax rates, etc. compared to the predicted ones).
2. The study of possible objects of financing within the framework of investment programs allows you to have the most accurate information about the object of investment and, therefore, use more effective tools and types of investment activities (effect D S inf).
At the project stage
The use of guarantee mechanisms of the government of the region and state guarantee mechanisms will allow:
1) involve in the investment process construction organizations that are stable, but do not have the required amount of collateral for loans (effect D S gar);
2) attract additional investors to the investment process on more favorable terms for the project executor, provision of additional banking services, lending at a lower interest rate (effect D S add, D S percent).
Payback stage
The creation of targeted investment programs will significantly expand and find new sales markets, i.e. get effect D S Sat, in the presence of demand, by reaching the maximum capacity to reduce the payback period of the project (effect D St OK).
The complex impact of the main components of the investment policy will give an integral effect from the implementation of the investment policy E inv.
E inv =+ D S Sat + D StOK+ D S percent + D S Wed + D S inf. (2.50)
The development and effective application of new components of the investment policy will entail a change in the direction of increasing the integral effect and, as a result, will have a positive impact on the entire construction complex as a whole.
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METHODS FOR ASSESSING THE EFFICIENCY OF THE IMPLEMENTATION OF THE COMPANY DEVELOPMENT STRATEGY
The actual tasks of modern companies of any profile are to increase the efficiency of economic activity and improve manageability. Against the backdrop of the global crisis of 2009, this issue seems to be the most relevant, since, according to scientists. The crisis1 that emerged at the intersection of descending waves of several types of business cycles will lead to fundamental changes in the global economy and lead to the construction of a new technological order. In such a situation, all the problems characterized in research works in the field of theory and practice of management will become aggravated. Among them are the lack of qualified personnel, high opportunity costs, and the instability of the external environment. In addition, the toughening of competition requires enterprises to pay more attention to product quality and the expansion of innovation. the current world situation also implies attention to the global situation, flexibility and the ability to radically change the economic system. Domestic and foreign management practice shows that the solution of these and similar tasks is possible only in the case of a developed and effective strategic management. In the modern economy, the definition of a company's strategy is influenced by a complex of factors, and their interaction is specific for each industry and each enterprise, moreover, changing over time.
It should be noted that a comprehensive system for evaluating the effectiveness of the implementation of the strategy has not yet been formed2. In studies devoted to evaluating the effectiveness of the implementation of a company's development strategy, unfortunately, the specifics of the influence of the innovative factor in the development of the economy are not taken into account. In this regard, a double problem arises: understanding the effectiveness of the implementation of the strategy and the impossibility of a universal interpretation of this concept, as well as a direct economic assessment of the effectiveness, which should be universal or close to it in order to be used in enterprises of various types. In this case, it is necessary to determine what should be understood as the effectiveness of the strategy in a particular area of strategic management.
If we consider the strategy as a comprehensive, detailed and comprehensive plan aimed at achieving the goal (the concept of M. Mescon)3, then the effectiveness of the implementation of the strategy can be considered the correspondence of the results obtained to the set strategic goal.
Considering the effectiveness of the implementation of the strategy, it is necessary to take into account how it meets the requirements of the external environment and its
namiki. Therefore, in modern conditions, promising effective strategies for innovative development will be aimed not only at the technological re-equipment of a manufacturing enterprise, but also at the development of new systems for analyzing, managing and monitoring the company's activities.
To assess the effectiveness of the implementation of the company's management strategy, it is necessary to choose a criterion for the combination of qualities and indicators of comparison, with the help of which the assessment is carried out. The problem of finding a criterion lies primarily in the fact that the number of criteria is large, although the range of criteria subject to a specific analysis is strictly limited. There are no direct indicators related to innovative development. Therefore, in the analysis it is necessary to use indirect indicators: efficiency, quality, multidimensional growth, stability, flexibility and adaptation, readiness for organizational changes, the effectiveness of the applied strategic management and control mechanisms.
For a comprehensive assessment of innovative development or movement towards it, it is necessary to determine how accurately the company is moving towards the set goal and implementing the tasks of innovative development. Innovative development at the stage of formation is not always supported by a high level of profit, accompanied by high risks of losses. Then the company's ability to quickly change, willingness to take risks and flexibility in decision-making become more significant intermediate and the effectiveness of the implementation of the company's innovative development strategy than its profitability.
Naturally, it is possible to single out the main indicator from all existing ones. Then the main problem will be which of the indicators can play this role. If for a single object the indicators are of the same type, then for the situation of comparing alternatives, which is relevant in the process of making managerial decisions, the selection of criteria will be different and the qualitative indicators will acquire a different semantic coloring.
Comprehensive economic evaluation of options involves a detailed account of the expected results of the implementation of a particular option and the costs associated with them. Such a choice should be focused not only on the realization of the final goal, but also on the maximum effectiveness of intermediate solutions. The evaluation of intermediate decisions allows you to track the effectiveness of the entire decision tree and quantify possible deviations in the process of implementing the strategic goal. In choosing between quantitative and qualitative methods for evaluating the effectiveness of the implementation of the strategy, the decision maker needs to take into account what kind of results need to be obtained, in what terms, what and how to evaluate, and determine the methods of use.
If we analyze the methods of economic evaluation of the effectiveness of the development strategy existing in science and practice, we can see that each method has its own characteristics and scope, as well as disadvantages in terms of assessing the effectiveness of the innovation development strategy. The closest to the assessment of innovative development will be assessment groups that are not directly related to the classical calculated indicators of profitability, i.e. groups of financial, economic and strategic methods for evaluating the effectiveness of a development strategy.
each method serves a specific purpose and is therefore based on different criteria. Therefore, we will first determine what are indicators of strategic success for the company, and then the key direction of strategic development. For industrial companies, a map of strategic success parameters can be defined as the relationship of such components as product quality, customer value, staff qualifications and human resources, internal climate, and innovative activity. In the current format, these components are not amenable to direct change, they are corrected and modified only indirectly, through external levers. For the innovation block we are interested in, these are the size of innovative solutions, the amount of costs for innovation, and the investment profile of the company.
Evaluation of the effectiveness of this block comes down to evaluating the effectiveness of its levers. It is necessary to clarify which method will most reliably reflect the effectiveness of the proposed levers within the company.
Most researchers agree on the insufficiency of traditional methods for assessing economic efficiency, based on accounting and financial reporting data, and suggest using more dynamic assessment systems through cost indicators. This group of indicators refers to the financial and economic group. It is assumed here that the indicators used are applicable to any object or requirement of the owner, since any requirement can be reflected in terms of value. In this regard, to assess the effectiveness of the strategy, the cost can be divided into several, taking into account the forming factors, which will subsequently be introduced into the rank of the criterion. At the same time, it is necessary to balance the selected indicators, integrate them into the overall system for assessing the system of indicators and the principles of its formation. balance in this case is necessary, since the deviation in the significance of the criterion can create significant inaccuracies in the evaluation of the data obtained and complications in the future activities of the company. Establishing cause-and-effect relationships between cost and other target indicators formalizes the alternative and the rationale for its choice, directly affects decision-making and strategy implementation.
In addition to cost indicators, widely used to assess the effectiveness of the strategy, indicators are used that characterize the economic potential of the enterprise. In this case, the economic evaluation of the effectiveness of the strategy concerns the current state of affairs, which makes it possible to establish the necessary causal relationships between strategic goals, strategy and current planning, setting the necessary balanced coefficients of indicators. The set of indicators, characteristics and cause-and-effect relationships is dynamic and needs constant monitoring, which determines, when choosing the optimal development strategy, the plurality of alternatives for the proposed routes of innovative development of the enterprise and its behavior per unit of time4.
However, the above indicators as elements of the system for assessing the effectiveness of the implementation of the company's strategy have certain disadvantages. The main disadvantage of the approach focused on assessing the return on invested capital is the lack of a direct connection with the value of the company and effective innovative development. In particular, indicators such as return on investment (ROI), internal rate of return (IRR), return on capital invested (ROCE), return on net assets (RONA), return on assets (ROA) have a low correlation with the formation of company value. Evaluating strategic decisions using a system of these indicators, in some cases, you can get erroneous data on the growth of the company and, as a result, a decrease in economic profit.
We also note the relative nature of the calculated values inherent in most concepts. The advantages lie in the comparative evaluation of heterogeneous strategic alternatives, i.e. in a certain versatility. However, in pursuing the goal of maximizing relative performance, the circumstance is sometimes overlooked that the increase in relative performance describes the nature of growth, and not its quality.
The disadvantages of approaches based on the indicator of cash flows are the complexity of their calculation and errors in the calculation on the planning horizon, a high proportion of subjectivity when bringing cash flows to the present.
Thus, the main disadvantage of this group of methods is the indirect assessment of the value of the company5. In the practical development of the concept of management aimed at creating value (Value Based Management), methods have been developed for assessing the value created as a result of the implementation of the strategy. The most well-known indicators are EVA, MVA, SVA, CVA, CRFOI. These concepts are based on key indicators of value - the cost of equity and borrowed capital, income generated by existing assets. Significant disadvantages of these methods:
1) the impossibility of conducting a reliable assessment of the effectiveness of the decisions taken;
2) excessive emphasis on a one-time increase in target indicators to the detriment of the effectiveness of the strategy as a whole;
3) significant errors on the long-term planning horizon;
4) high sensitivity to the accuracy of the forecasts;
5) the need for additional corrective calculations in individual methods (up to 150 corrections).
The main drawback is that the use of each of these methods for assessing the effectiveness of the implementation of the company's strategy is a necessary but not sufficient condition.
The totality of data on the basis of which strategic decisions are made provides for the existence of a system of indicators that should evaluate the effectiveness of each mechanism for the formation, implementation and implementation of the strategy. Therefore, a comprehensive, balanced assessment is needed, in which the available financial indicators complement each other. In the science and practice of financial management, experience has been accumulated in the economic evaluation of efficiency using a set of indicators under consideration. However, as business develops, the structure of capital changes, the role of innovation processes increases, and crisis phenomena intensify, these structures lose their effectiveness. In addition, with an increase in the number of indicators characterizing the company's activities, the problem of choosing an assessment criterion arises. To solve it, systems of evaluation indicators are proposed. But they also have advantages and disadvantages (Table 1).
Table 1. Advantages and disadvantages of the scoring system
Advantages and disadvantages
Most financial indicators are adapted to the assessment of strategies that have already developed in the past. The set of indicators is purely individual for the end organization.
Financial efficiency is measured by short-term indicators, which contributes to increased management efficiency Methodologies focus more on the implementation of the strategy than on its quality
Indicators make it possible to build a tree of strategic goals There is no assessment of the means of measuring the economic effectiveness of the organization's strategy
A balanced scorecard allows monitoring of strategic actions A scorecard can be built only after all employees understand the strategy
The ability to translate the strategy into the form of specific indicators of operational management There is no responsibility for the overall result
So, the existing methods of economic evaluation of the effectiveness of the implementation of the strategy have serious drawbacks. A promising direction in the search for solutions to the problem is the construction of a methodology that integrates a system of economic indicators into a comprehensive indicator of the effectiveness of a strategic decision.
Currently, there are a large number of schemes and methods for assessing the effectiveness of the implementation of a company's development strategy, but none of them is universal, none of them fully takes into account the influence of all factors. In this regard, we propose to consider a three-dimensional model of the integral assessment, which can be represented as a three-dimensional coordinate system given by the formula:
where is the quality of the strategy,
11‘i - the quality of the strategy implementation mechanism,
ESES - strategic efficiency.
By the quality of the strategy, we understand the relative indicators of the strategy's compliance with the trends in the development of the external environment, its dynamism, flexibility, control, compliance with the company's capabilities, objectivity, etc.
By the quality of the mechanism for implementing the strategy, we mean the composition of the mechanism for building, implementing, evaluating, monitoring the strategy, the availability of mechanisms for implementing the strategy, their completeness and maximum exploitation.
By strategic efficiency, we mean qualitative changes predicted in the long term based on the results of the implementation of the strategy, as well as the results obtained from the implementation of past strategic decisions. Strategic efficiency is also an integral indicator and is calculated on the basis of a specific situation and a specific enterprise.
Thus, we propose to introduce an integral indicator for evaluating the effectiveness of the implementation of the company's development strategy, based on a three-dimensional model of efficiency.
Notes
1 Glazyev S.Yu. The global economic crisis as a process of changing technological patterns. Voprosy ekonomiki. 2009. No. 3.
Glaz "ev S.Ju. Mirovoj jekonomicheskij krizis kak process change tehnologicheskih ukladov // Voprosy jekonomiki. 2009. No. 3.
2 Lobusov D.Yu. Improving the efficiency of strategy implementation: integration of process and project management. http://uchkom.rf/
Lobusov D.Ju. Povyshenie jeffektivnosti realizacii strategii: integracija processnogo i proektnogo upravlenija. h1ttp://uchkom.rf/
3 Meskon M., Albert M., Hedouri F. Fundamentals of management. M .: Williams, 2009. MeskonM., Al "bertM., Hedouri F. Osnovy menedzhmenta. M .: Vil'jams, 2009.
4 Ivashkovskaya I.V., Kukina E.B., Penkina I.V. Economic value added. Concepts. Approaches. Instruments // Corporate Finance. M.: VSHE, 2010.
Ivashkovskaja I.V., Kukina E.B., Penkina I.V. concepts. Podhody. Instrumenty // Koroporativnye finansy. M.: VSHE, 2010.
5 Stepanov D.V. Value Based Management and value indicators. http://www.intalev.ru Stepanov D.V Value Based Management i pokazateli stoimosti. http://www.intalev.ru
Introduction
The essence of strategic planning and its options
1 Place of strategic planning in production management
2 The concept of strategic planning
Evaluation of the effectiveness of the current strategy
1 Strategies for the behavior of the company in the market and the conditions for their use
2 Evaluation of the effectiveness of the organization's strategy: approaches, composition of possible indicators
Conclusion
List of sources used
Introduction
For an enterprise of any form of ownership and any scale of economic activity, it is essential to manage economic activities, determine a strategy, as well as planning. At present, the leaders of Russian enterprises are forced to make business decisions in the face of the uncertainty of the consequences of such decisions, moreover, with a lack of economic, commercial knowledge and practical experience in the new conditions.
Many economic zones in which enterprises operate are characterized by increased risk, because there is no sufficient knowledge about the behavior of consumers, the position of competitors, about the right choice of partners, there are no reliable sources for obtaining commercial and other information. In addition, Russian managers have no experience in managing firms in market conditions. There are many problems in the marketing activities of Russian enterprises. The heads of enterprises that produce final or intermediate products feel limited by the effective demand of the population and consumer enterprises. The issue of marketing entered the sphere of direct control of the management of enterprises. As a rule, state-owned enterprises did not have and do not have qualified sales staff. Now almost all enterprises have realized the importance of the sales program. Most of them have to deal with tactical issues, because. many have already faced the problem of overstocking warehouses with their products and a sharp drop in demand for it. The strategy for marketing products on the market remained unclear. Trying to change the assortment, many enterprises that produced industrial products are beginning to switch to consumer goods. If production products are produced, then in some cases enterprises develop subdivisions that consume these products. Rebuilding the assortment, enterprises began to predict sales in advance and find consumers of their products.
When choosing consumers, managers take into account: direct contact, communication with the end consumer, the solvency of the customer. The search for new consumers, the development of new markets has become very relevant for the enterprise (some managers are looking for new consumers on their own).
A new phenomenon has also been noticed - the relationship of enterprises with new commercial structures, which are often engaged in the sale of part of the enterprise's products, and the rest is sold through the old channels. In addition, the enterprise can turn to the firm for all complex issues of production support. One of the tactics for ensuring the sale of products in modern Russian reality, in conditions where domestic effective demand for products is limited, has become entry into the international market. However, this is possible only for enterprises with a high level of production technology that ensures the competitiveness of their products.
Thus, this topic is very relevant at the moment, because management and strategic management of an enterprise's activities are necessary in any field of economic activity. At the same time, there are still many problems and significant shortcomings that need to be resolved as soon as possible, which, in turn, will allow the Russian economy to achieve stabilization and progressive development.
The subject of the course work is the evaluation of the effectiveness of the strategy in the enterprise.
The objects of study of this work are the methods and methods for evaluating the use of the strategy.
The goal is to form a holistic view of the essence of the company's strategy and the processes of its development and implementation.
get acquainted with the most common definitions of the concept of "strategy" in the scientific field, form an idea of the company's strategy;
consider the main types of strategies developed by a modern firm;
to study the main components of the company's strategy;
sum up what you have learned.
1. The essence of strategic planning and its options
1 Place of strategic planning in production management
Strategic planning is the most important function of the strategic management of an enterprise and its central link in a relatively stable environment.
Before moving on to the goals and concept of development of the strategic management system in the enterprise, it is necessary to define the structure of the strategic management system itself and its place in management.
The management system is a system of scientific approaches and methods, targeted, providing, functional and managing subsystems, contributing to the adoption and implementation of competitive decisions.
The most important issue in the management of product development cycles is to determine the system in which these processes take place. The main stages of the life and reproduction cycles of a product, the cycle of its profitability in space and time take place within the framework of the manufacturer's management system. Therefore, we first consider the structure of this system.
The management system covers all management activities of the company. In time, the management system can be divided into two parts:
) formation of the company's strategy;
) operational management of the implementation of the company's strategy (tactics). The structure of the strategic management system differs from the structure of the management system only in the composition of some components and temporary
In strategic management, there is a need to develop a strategy for the organizational, technical, social development of the team and environmental protection, since these problems need to be predicted and solved for the long term. There is an increasing need for analysis and forecasting in decision-making, which reduces the risk and improves the efficiency of their implementation.
In the functional subsystem, the functions of organizing processes, accounting and control are introduced to the functions of strategic marketing, operational management of the implementation of strategic plans.
The components of the "external environment" of the strategic management system that affect the efficiency and sustainability of its functioning include the macro environment, the infrastructure of the region, the micro environment of the company.
The components of the “input” of the system include: legislative acts, regulatory and methodological documents on various issues of developing a strategic management decision, information, the necessary resources for developing a company strategy and monitoring its implementation.
The feedback components of the strategic management system include new consumer requirements, their complaints, new information in connection with new achievements in scientific and technological progress, and other factors.
The "output" of the system will be the company's strategy for a certain period (5-10 years) in the form of a comprehensive strategic plan (program) of the company, strategic plans for individual sections and a program for the implementation of strategic plans.
When developing a strategic management system, first, on the basis of marketing research, the “output” should be specified, then the impact on the “process” in the “external environment” system should be analyzed, and lastly, the quality of the process in the system should be ensured at the quality level of the “input”.
But, of course, it is rather difficult to develop a complete complex covering technical, economic, social and other aspects of management. Management in this context will be widely used only in conditions of fierce competition for the markets for goods and services, in the conditions of the struggle for quality and resource conservation, that is, the competitiveness of various management objects.
Unfortunately, in the economic literature, when covering the problem of strategic management, strategic planning as an integral element is not given due attention. In addition, in most cases, the formation of the plan and its indicators are not considered at all as specific guidelines for the proposed activity, which are very important for the foreseeable period (it may vary depending on the degree of instability of the external environment). Also, some scientists include an element of strategic planning in the stage of strategy implementation, while forgetting that planning is in the nature of foresight, and implementation is already the embodiment of foreseen results into reality.
2 The concept of strategic planning
The concept of strategic planning is interpreted by many scientists in different ways. There are several definitions of strategic planning.
A.I. Ilyin believes that strategic planning is "a tool by which a system of goals for the operation of an enterprise is formed and the efforts of the entire team are combined to achieve it." This definition indicates the purpose of strategic planning (and strategic management in general), and not its essence.
L.P. Vladimirova believes that strategic planning "is a set of actions and decisions taken by the company's management in order to develop functional strategies and assist the company in solving its development problems." This definition also does not distinguish between strategic planning and strategic management in general.
According to L.E. Basovsky, strategic planning "is a set of decisions and actions to develop a strategy necessary to achieve the goals of an organization, enterprise." This formulation equates planning and strategy development, which cannot be considered correct, since “plan” is a broader concept than the concept of “strategy”, since the plan includes both the development of a strategy and a program of measures for its implementation for a certain period.
Domestic economists A.D. Vachugov and V.R. Vesnin define strategic planning as “a set of specific goals that must be achieved by a certain period. They cover the most general problems of the development of production and the distribution of resources for many years to come and are developed independently in various directions, but at the same time they are subject to a certain hierarchy. V.P. Gruzinov writes the following: “Planning is a vision of an enterprise in the future, its place and role in the economy and socio-political structure of the country, as well as the main ways and means to achieve this new state. Strategic planning is entirely the prerogative of the top management of the enterprise. In these definitions, in our opinion, the planning process is identified with its result.
Scientists T.P. Lyubanova, L.V. Myasoedova, Yu.A. Oleinikova give the following definition of strategic planning: "This is the process of modeling the effective operation of an enterprise for a certain period of operation, with the establishment of its goals and their changes in an uncertain market environment, as well as determining the way to implement these goals and objectives in accordance with its capabilities." Probably, with such a definition, strategic planning does not differ from any dynamic model of the functioning of an enterprise, which is also not entirely correct.
E.A. Utkin understands strategic planning as “a special type of practical activity of people - planned work, consisting in the development of strategic decisions (in the form of forecasts, projects, programs and plans), providing for the promotion of such goals and strategies for the behavior of the relevant management objects, the implementation of which ensures their effective functioning in long-term, rapid adaptation to changing environmental conditions. This definition, from the point of view of considering strategic planning as a management function, is the most correct. Probably, having specified the relationship of the category under study with strategic management, on the basis of this definition, it is possible to form the concept of "strategic planning".
We use two approaches for this. According to the first approach, which is quite common due to the genetically determined relationship and continuity of strategic management and strategic planning as types of strategic management, in fact, no distinction is made between them as between a part and a whole, but it is said about their applicability to various conditions of the functioning of an organization, different the level of instability of the external environment. The second approach is based on the consideration of management as a set of management functions - goal setting, planning, organization, motivation, control, analysis, regulation, etc. (depending on the degree of detail or enlargement of the management process at different enterprises). In this case, planning as a function is an indispensable part of the management process; and, in order for the organization as a system to be manageable, all functions must be performed. At the same time, the question remains open: to what extent are full-fledged plans for the entire period of implementation of the strategy necessary to achieve strategic goals? And what kind of planning is considered strategic: only the development of these full-fledged plans or plans for a shorter period, ensuring the implementation of a long-term strategy, can also be classified as strategic?
When answering these questions, one proceeds from the assumption that strategic plans should be considered only those plans whose time horizon coincides with the horizon of the strategy itself, and which are designed to determine with a certain probability all the necessary parameters for its implementation (the main criteria and resources are labor , material, financial, technological, informational).
Consequently, strategic planning as a process of developing a strategic plan in this sense is not always mandatory in the full sense of the word. The implementation of the strategy can be ensured by the development of tactical plans for a period of time shorter than the horizon of the strategy, during which it is possible to predict the result of the activity with a sufficient degree of certainty. This understanding of strategic planning coincides with the historically conditioned attitude towards it as a previous stage in the development of strategic management, and with a general theoretical understanding of the place of the planning function in the management process.
The differences between strategic planning and strategic management are as follows:
) strategic planning is a narrower concept;
) strategic planning is an information management tool, and strategic management is a people management tool;
) strategic planning is an analytical process, and strategic management is an organizational and analytical one;
) strategic planning uses economic and technological variables. In strategic management, in addition, psychological, sociological and political factors are taken into account.
Thus, strategic planning is the process of developing and concretizing the organization's strategy in the form of a strategic plan for a period of time equal to the period of strategy implementation. The main goal of strategic planning is to model the future successful activity of the enterprise (for the entire period of strategy implementation).
The main task of strategic planning is to provide flexibility and innovation in the activities of the organization necessary to achieve its goals in a changing environment.
2. Evaluation of the effectiveness of the current strategy
1 Strategies for the behavior of the company in the market and the conditions for their use
Modern managers often operate with the word "strategy". Among other things, the meaning of the highest manifestation of managerial activity is invested in it. Among all the definitions of strategy, the following main directions can be distinguished: strategy is a plan, a guideline, a direction of development, leadership; strategy is a principle of behavior or following a certain model of behavior; strategy is a position (in particular, we are talking about positioning a product on the market); strategy is a perspective, a look into the future of the enterprise; strategy is a technique, a special maneuver that allows you to bypass competitors.
The use of strategies and appropriate approaches in all the above senses has its positive and negative sides (Table 1).
Lack of strategy is not always a negative factor. Thoughtful actions contribute to increasing the flexibility of the organization and in the absence of a single strategy. Organizations characterized by a rigid system of control, adherence to formal procedures, lose their ability to innovate and experiment.
Table 1
Advantages and disadvantages of using strategies
Advantage Flaw The adopted strategy allows you to focus on the details The problem lies in the change in the surrounding circumstances over time - the external environment destabilizes over time, dangers and opportunities disappear and appear. Everything that was constructive and effective in the adopted strategy can turn into its opposite. Strategy sets the direction The main meaning of the strategy is to indicate to the enterprise a reliable course of development in the existing conditions. A strategic course can obscure potential dangers. Direction is of great importance, but in some situations it is critical to follow the current realities in order to change behavior at the right time. Strategy coordinates efforts The strategy promotes coordination of activities. In her absence, management is making efforts in various directions, which often contradict each other. Excessive coordination of efforts leads to the loss of peripheral vision, thanks to which the search for new opportunities is carried out. The adopted strategy dominates the enterprise. Strategy characterizes an organization The strategy reflects in general terms the nature of the enterprise and its distinctive features. Defining an organization in terms of strategy can be overly simplistic, to the point of using stereotypes, leaving the scope and complexity of the system unnoticed. Strategy provides logic Strategy eliminates uncertainty and ensures order in management. Any strategy, like any model, is a simplification that inevitably distorts reality. Forming a strategy is a complex process. Main approaches: approach based on strategic correspondences; planned approach; positioning approach; entrepreneurial approach, etc. The strategy selection process includes the following main steps: clarification of the current strategy; analysis of the product portfolio; selection of the firm's strategy and evaluation of the chosen strategy. However, most likely, the real strategy at a particular enterprise will be developed as a unique one, combining the best properties of the above approaches. The strategy reflects in general terms the nature of the enterprise and its distinctive features, it indicates the general course of development for the enterprise in a dynamic external environment. Despite the fact that the concept of strategy is associated with stability, in modern conditions, the emphasis should be on change. Change management is a complex process, especially if it involves new competencies. Each strategy refers to a certain time period, beyond which it loses its positive qualities, and often is a negative factor hindering the development of the enterprise. So far, strategic management has been presented in general terms. However, in an organization, strategies are planned and implemented simultaneously or sequentially at multiple levels. Let's consider three levels - corporate, enterprise level, or business units that make up a corporation, and functional, which are presented in Figure 1. Corporate strategy - the first level. It defines the organization as a whole, the behavior of its divisions or business units, product lines, the combination of which allows us to perceive the company as an integrity, and answers the question: what kind of business is the corporation engaged in? Strategic activities at the corporate level include, for example, the acquisition of a new business, the expansion or contraction of an existing one, the creation of joint ventures. Figure 1 - Application of the strategy at different levels Corporate (portfolio) strategy is a strategy that describes the general direction of the growth of the enterprise, the development of its production and marketing activities. It shows how to manage different types of business in order to balance the portfolio of goods and services. Strategic decisions at this level are the most difficult, as they relate to the enterprise as a whole. It is at this level that the product strategy of the enterprise is determined and agreed upon. The corporate level of management is represented by the chief executive officer (CEO, president of the corporation, etc.), the board of directors and other senior personnel who make strategic decisions for the entire organization. Typically, the responsibilities of these executives include: defining the purpose, mission and goals of the organization, identifying key areas of activity, allocating resources for each activity, and formulating strategies that encompass corporate activities. The corporate strategy also includes issues of the financial and organizational structure of the enterprise as a whole. For example, corporate-level strategic objectives can be: open a new enterprise abroad or create offshore production in a country with cheap labor. At the level of the economic unit, a business strategy (business strategy) is developed - a strategy for ensuring long-term competitive advantages of the economic unit. This strategy is often embodied in business plans and shows how the company will compete in a particular product market (for example, in the mixer market), to whom exactly and at what prices it will sell products, how it will advertise, how it will achieve victory in the competition and etc. Therefore, such a strategy is also called a competition strategy. It is obvious that the business strategy for mixers will be different from the strategy for other products. For enterprises with one type of activity, the corporate strategy coincides with the business one. Enterprise strategy - the second level, often characterized as competitive or business strategy. The fundamental question here is: how and with whom to compete in a particular market? In the company, the enterprise level consists of the heads of individual business units that make up the organization, as well as the staff providing them. The main role of these managers is to translate general information about the direction and intentions coming from the corporate level into specific strategies for group and individual activity. At the enterprise level, strategic objectives are most often aimed at competitive success. This may be, for example, the task of introducing a new product or service, as well as creating a department for research and development. The functional strategy is the third level. The fundamental question here is: what do the various functional actions contribute to the other levels of the strategy? Executors do not have the opportunity to appreciate the full breadth of the picture, but they are responsible for the development of functional strategies that fit into the strategic objectives set by managers at the corporate and enterprise levels. Financial authorities provide essential information for the formulation of the strategy and provide measures to assess the degree of its implementation. Functional strategies - strategies that are developed by the functional departments and services of the enterprise based on the corporate and business strategy. This is a marketing strategy, financial, production strategy, etc. The purpose of the functional strategy is to allocate the resources of the department (service), search for the effective behavior of the functional unit within the framework of the overall strategy. Thus, a typical marketing department strategy might focus on developing ways to increase sales of the company's products over the previous year. Examples of functional R&D strategies would be technology leadership or following the leader. The financial strategy of the enterprise can be focused on accelerating the turnover of funds, reducing the level of receivables. According to B. Karlof (Karlof), “the independent formation of functional strategies is the virgin land of management, where, perhaps, huge reserves of efficiency are hidden. Paying attention to the functional strategy, it is possible to more effectively influence both the value of the contribution of the functional unit to the common cause, and the value of the cost of financing this unit. Three levels of strategies form their hierarchical structure: corporate strategy consists of a number of business and functional strategies. Sometimes, one more level of strategic decisions is additionally singled out - the level of operational strategies, but we believe that this is too fractional division. Comparative characteristics of strategic decisions at different levels are given in Table 2. table 2 Comparative characteristics of strategic decisions
Characteristics Strategy levels Corporate functional Conceptual Mixed Operating Adaptability Relationship with current activities innovative mixed Complementary Significant Potential profit Significant small Costs Significant Moderate A period of time Long Short Flexibility Significant Moderate small To be successful, strategies must be aligned and interact closely with each other. Each level forms a strategic environment for the next level, i.e. the strategic plan of the lower level is subject to the restrictions of the strategies of higher levels of the hierarchy. The process of forming a hierarchy of strategies can be different. A distinction is made between top-down strategic planning, in which top managers initiate the process of strategy formation and empower strategic business units and functional units to formulate their own strategies as a means of implementing corporate strategy. Another approach is bottom-up strategic planning, in which the process of strategy formation is stimulated by proposals from business and functional units. For both approaches, the most important thing is how effective the interaction between levels of management is. The strategy development process involves numerous negotiations between levels of the management hierarchy to ensure that the various goals, strategies, programs, budgets and procedures are aligned and reinforce each other. The complex and controversial process of coordinating strategic decisions at various levels is an important aspect of strategic management. The most common, verified by practice and widely covered in the literature, business development strategies are usually called basic, or reference. They reflect four different approaches to the growth of the firm and are associated with a change in the state of one or more of the following elements: product, market, industry, position of the firm within the industry, technology. Each of these five elements can be in one of two states: an existing state or a new state. The first group of benchmark strategies are the so-called concentrated growth strategies. This includes those strategies that are associated with a change in the product and / or market and do not affect the other three elements. in the case of following these strategies, the firm is trying to improve its product or start producing a new one without changing the industry. In terms of the market, the firm is looking for Opportunities to improve its position in the existing market or move to a new market. The specific types of strategies of the first group are the following: a strategy to strengthen its position in the market, in which the company does everything to win the best position with this product in this market. A large marketing effort is required to implement this strategy. The implementation of this strategy also allows for the implementation of the so-called "horizontal integration", in which the firm tries to establish control over its competitors; market development strategy, which consists in finding new markets for an already produced product; a product development strategy that involves solving the problem of growth through the production of a new product and its implementation in the market already mastered by the company. The second group of reference strategies are those business strategies that involve the expansion of the firm by adding new structures. These strategies are called integrated growth strategies. Usually, a firm can resort to implementing such strategies if it is in a strong business, cannot implement concentrated growth strategies, and at the same time, integrated growth does not contradict its long-term goals. A firm can pursue integrated growth both through acquisition of ownership and through expansion from within. In both cases, there is a change in the position of the firm within the industry. There are two main types of integrated growth strategies: reverse vertical integration strategy aimed at the growth of the company through the acquisition or strengthening of control over suppliers, as well as through the creation of subsidiaries that carry out the supply. Implementing a back-vertical integration strategy can bring benefits to a firm by reducing exposure to component price fluctuations and supplier requests. At the same time, deliveries as a cost center for a firm can turn into a center of income in the case of reverse vertical integration; a strategy of forward-going vertical integration, expressed in the growth of the company through the acquisition or strengthening of control over the structures located between the company and the end consumer, i.e. over distribution and sales systems. This type of integration is beneficial in cases where intermediary services are greatly expanded or when the firm cannot find intermediaries with a quality level of work. The third group of reference business development strategies are diversified growth strategies. These strategies are implemented if firms can no longer develop in a given market with a given product within a given industry. These types of strategies are: a centered diversification strategy based on the search for and use of additional opportunities in the existing business for the production of new products. At the same time, the existing production remains at the center of the business, and the new one arises based on the opportunities that are contained in the developed market, the technology used, or in other strengths of the firm's functioning; a horizontal diversification strategy that seeks growth opportunities in an existing market through new products that require a new technology that is different from the one being used. With this strategy, the company should focus on the production of such technologically unrelated products that would use the existing capabilities of the company. An important condition for the implementation of this strategy is a preliminary assessment by the company of its own competence in the production of a new product; conglomerate diversification strategy, which consists in the fact that the company expands through the production of technologically unrelated new products that are sold in new markets. This is one of the most difficult development strategies to implement, since its successful implementation depends on many factors, in particular, on the competence of the existing staff, and especially managers, seasonality in the life of the market, the availability of the necessary amounts of money, etc. The fourth type of reference business development strategies are reduction strategies. These strategies are implemented when a company needs to regroup forces after a long period of growth or due to the need to increase efficiency, when recessions and fundamental changes in the economy are observed, such as, for example, structural adjustment, etc. In these cases, firms resort to targeted and planned downsizing strategies. The implementation of these strategies is often not painless for the company. However, it must be clearly understood that these are the same strategies for the development of the company as the growth strategies discussed, and under certain circumstances they cannot be avoided. Moreover, in certain circumstances, these are the only possible strategies for business renewal, since in the vast majority of cases, renewal and general acceleration are mutually exclusive business development processes. There are four types of targeted business reduction strategies: portfolio planning strategy integrated liquidation strategy, which is an extreme case of a reduction strategy and is carried out when the company cannot conduct further business; a "harvest" strategy that involves abandoning the long-term view of the business in favor of maximizing revenue in the short term. This strategy is applied to an unpromising business that cannot be sold profitably, but can generate income during the "harvest". This strategy involves reducing procurement costs, labor costs and maximizing revenue from the sale of the existing product and the continuing decline in production. The “harvest” strategy is designed to ensure that, with the gradual reduction of this business to zero, to achieve maximum total income during the period of reduction; a downsizing strategy in which a firm closes or sells one of its divisions or businesses in order to effect a long-term change in business boundaries. Often this strategy is implemented by diversified firms when one of the industries does not fit well with others. This strategy is also implemented when it is necessary to obtain funds for the development of more promising or the start of new ones that are more in line with the long-term goals of the company's businesses; cost reduction strategy, the main idea of which is to search for opportunities to reduce costs and carry out appropriate measures to reduce costs. This strategy has certain distinctive features. which consist of. that it is more focused on eliminating relatively small cost sources. and also that its implementation has the character of temporary or short-term measures. The implementation of this strategy is associated with a reduction in production costs, an increase in productivity, a reduction in hiring and even layoffs of personnel, the cessation of the production of profitable goods and the closure of profitable facilities. In practice, a firm can simultaneously implement several strategies. This is especially true for multi-industry companies. It can be produced by the firm and a certain sequence in the implementation of strategies. Regarding the first and second cases, the firm is said to be pursuing a combined strategy. From the whole variety of strategies of Russian enterprises in the market, two types can be distinguished, diametrically opposed in terms of goals and main methods of implementation, and yet they are connected. Let's call them "Initial accumulation of capital" and "Strategy of long-term presence". It is difficult to say in what percentage the adherents of these strategies are divided, it is only known that there are quite a lot of both. Since we are interested in fundamental connections, let's try to consider the extreme variants of these strategies. Primitive Capital Accumulation Strategy: Aimed at maximizing profit "today" by almost any means. In the arsenal of the most effective means: access to budgetary resources in one form or another; manipulations with VAT; debt restructuring with the "pumping out" of resources from industrial enterprises; direct defaults on obligations. All "profits" are transferred abroad and deposited in banks. Investments in the Russian economy are not envisaged, with the exception of “buy-clean-sell” schemes. Long-term presence strategy - aimed at stable business growth in certain directions or in a certain style. In the arsenal of the most effective means: the creation of competitive advantages, no matter how; fulfillment of payment obligations. The profits are partly reinvested in their own business, partly (after the collapse of the GKO) they are transferred abroad and deposited in banks. The two extreme variants of the considered strategies look almost incompatible, but only up to a certain stage of implementation. In the current economic and legal situation, the strategy of primitive capital accumulation does not exhaust the domestic market as quickly as one might expect. It turns out that, contrary to “legal” expectations, the usual arsenal of funds can still be used, although with less efficiency, and the accumulated capital is sufficient for a truly large-scale business (for example, the purchase of a profitable plant). This is where the reorientation towards long-term goals takes place, which is forced to support the participation of accumulated capital in the “production” business. Suddenly there is a need for an orderly and efficient management of a large enterprise. In practice, the company finds itself at the stage of the beginning of the implementation of the strategy of long-term presence, with capital, but without experience in the market and with a negative reputation. 2 Evaluation of the effectiveness of the organization's strategy: approaches, composition of possible indicators Strategy evaluation is the final stage of strategic planning and continues at all stages of strategy implementation. It can be done in two ways: evaluation of the specific strategic options developed to determine their suitability, feasibility, acceptability and consistency for the organization; comparison of the results of the implementation of the strategy with the level of achievement of goals. An effective assessment system requires four main elements: Motivation for evaluation. Before an evaluation can be made, the leader of the organization must be willing to evaluate his performance or the strategy he or his team wants to implement. This desire is driven by the realization that it is necessary to achieve a match between the organization and the proposed strategy. There is another potential motivating factor: if the manager hopes to receive remuneration depending on the compliance of indicators with the tasks set. Information for evaluation. Another requirement for the credibility of the evaluation is information in a user-friendly form to evaluate the proposed strategy, as well as its consequences after implementation. This requires an effective system for collecting and processing management information, as well as a complete and reliable report on the possible results of the proposed strategies and the results of their implementation. Criteria for evaluation. Strategies must be evaluated against certain criteria. These criteria can be grouped as follows: The sequence of implementation of the strategy. The strategy is determined by the goal of the upper level, so it should not contain lower-level goals that are inconsistent with the upper level. Consistency with the requirements of the environment. The strategy must correspond to the external environment and the critical changes taking place in it. The feasibility of the strategy. The strategy should neither overestimate available resources nor create unsolvable problems in the future. Acceptability for stakeholders. The strategy must match the expectations of specific support groups. Advantage over competitors. The strategy must ensure the creation or maintenance of a competitive advantage in the chosen area. Decisions based on the results of the evaluation of the strategy. Evaluation in itself is not the final step. It should guide decisions about the choice of strategy and help determine its effectiveness. To this end, appropriate corrective action systems should be developed based on the assessment of the information provided. In today's rapidly changing external environment and internal capabilities of companies, assessing the effectiveness of the chosen strategy is an essential part of the strategic management process. This stage turns it into a closed cycle, into a consistent continuous process. Currently, there is no coherent strategy evaluation system. There is no clear theoretical and practical position regarding its principles. In the management literature, economists distinguish the following aspects of the effectiveness of a company's strategy: internal efficiency - efficiency in terms of using the company's internal capabilities or in terms of managing internal resources; external efficiency - efficiency in terms of using the external capabilities of the company; overall efficiency - a complex set of internal and external efficiency; market efficiency - how fully the consumer's needs are satisfied in comparison with alternative ways of satisfying them; target efficiency - reflects the measure of achievement of the organization's goals. To evaluate the present strategy, the company should first of all determine what the chosen strategy is. What is the company's approach to competition - whether it seeks to achieve the lowest production costs in the industry or focuses on a specific group of consumers and market niche in order to break away from its pursuers. Another important point is to determine the competitive position of the company in a given industry of goods and services - the degree of its vertical integration and territorial coverage. Functional support strategies should also be identified and analyzed in the areas of production, marketing, finance, human resources, and so on. Careful study of the motives for each section of the strategy - each step and each functional approach - will also bring clarity to the disclosure of the essence of the current strategy. Evaluation of the effectiveness of the strategy is carried out at three different levels - an individual manager, at the level of a functional unit, at the level of the company's management system as a whole. The criteria for evaluating the effectiveness of a manager are: manager's potential - his qualifications, knowledge, skills, abilities, psychological traits; manager's work - the typical complexity of his tasks, the time spent on performing typical tasks; the results of the manager's work from all angles: his individual work, his contribution to the indicators of the functional management apparatus in which he works, and, finally, his contribution to the results of the activity of the object of management subordinate to him. The assessment of the functional divisions of the company is carried out on the following four positions: assessment of the qualifications of the unit's personnel. This assessment is an average assessment of the level of qualification of managers and specialists who are part of the functional management body; assessment of the organization of managerial work in the unit. Here, the forms and methods of interaction between managers of the unit with the object of management and among themselves are evaluated. As part of this procedure, the feasibility of the staffing table, the distribution of duties in the unit, as well as the document flow of the unit are analyzed and evaluated; assessment of control technology. The modernity and efficiency of methods used in management, the use of technical means and computer technologies in the management process are considered; assessment of the effectiveness of management activities. This assessment is made taking into account the specific tasks facing this functional unit. Evaluation at the management level of the company as a whole is reflected in a large set of indicators used to characterize its activities. These metrics include: coefficients characterizing the effectiveness of the use of the enterprise's personnel; coefficients characterizing the financial condition of the company; indicators characterizing the investment attractiveness of strategic decisions. Conclusion It should be noted that performance evaluation is an important element in the development of strategic and planned decisions, which allows determining the level of progressiveness of the current structure, projects under development and planned activities, and is carried out in order to select the most rational development option and ways to achieve it. All stages of the implementation of management decisions should be subject to performance evaluation. A comprehensive set of criteria for the effectiveness of the management system is formed taking into account two main areas: according to the degree of compliance of the achieved results with the established goals; according to the degree of compliance of the functioning of the credit institution with the objective requirements for the content of the activity. When evaluating the effectiveness of the management process, both quantitative and qualitative indicators are used. They acquire a normative or near-normative character and can be used as a constraint criterion when a credit institution changes in the direction of improving one or a group of performance indicators. For a qualitative assessment of the effectiveness of management, the correspondence of the management system (its organizational structure) to the management object is important. 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