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Sustainable development strategy formation for business corporations

https://doi.org/10.20914/2310-1202-2016-2-350-355

Abstract

The article explains the concept of the company sustainable development strategy based on its economic security level, which includes the economic security concept loss threat control; and the concept of company sustainable development based on the fact, that the company in a developed market should not only "defend", but also ensure its development. After it implementation of decomposition is applied to the system of strategic economic security through a balanced scorecard, which allows translating the mission and vision into a set of operational goals and targets. The main components of strategic economic security provision are: business processes, finance, contractors and staff; based on the state which economic security level is determined as: high, normal, low or critical. After that, the strategic prospects are set, i.e. transition from the lowest to the highest economic security level takes place, passing the economic security fields. In order to do this, certain company development strategy is selected, the mechanism for its implementation is being worked out. At the same time, company sustainable development strategy is identified in the case of a growth strategy use, which implies a transition from endogenous development strategy to introductive or introspective development strategy with further access to multi-integral development strategy. If there is inverse relationship, one can not speak of any sustainable development strategy. Besides, development, implementation and use of monitoring for the design process of the company's development strategy taking into account its economic security level acquires great importance.

About the Authors

L. A. Zaporozhtseva
Voronezh State Agricultural University
Russian Federation

d. ec.sc., associate professor, professor, department of finance and credit, 

Michurina str. 1, Voronezh, 394087



T. V. Sabetova
Voronezh State Agricultural University
Russian Federation

c. ec.sc., associate professor, associate professor, department of management and marketing in agroindustrial complex, 

Michurina str. 1, Voronezh, 394087



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For citations:


Zaporozhtseva L.A., Sabetova T.V. Sustainable development strategy formation for business corporations. Proceedings of the Voronezh State University of Engineering Technologies. 2016;(2):350-355. https://doi.org/10.20914/2310-1202-2016-2-350-355

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ISSN 2226-910X (Print)
ISSN 2310-1202 (Online)