Enterprise development strategy in the global environment

where:^F(,) the function of the

corresponding parameter, which determines the degree of its impact;

3) Conducting a comprehensive assessment of each parameter that reflects the state of business systems is determined by the formula:

where: Y_i comprehensive assessment of each of the parameters of the state of business systems; ^P evaluation by indicator і, ^Wi specific weight of the i-th indicator, the weighting factor that determines the relative importance of the parameters determined by experts. In addition, restrictions were adopted on the weighting factor: Wi>0 and EWi=1;

4) Integrated assessment of the metastate of business systems is performed according to the formula:

The integral indicator of the metastate of the development of business systems is calculated as the geometric mean of the values included in its individual indicators. The advantage of this definition is the simplicity of calculations and avoiding the possibility of overloading one component over another of the overall indicator, which cannot be achieved using the arithmetic mean. The disadvantage of the formula is the impossibility of its use in the case when one of the individual state indicators is zero, since in this case the integral coefficient will also have a zero value.

A comprehensive assessment of business system development parameters and their quantitative indicators consists not only in assessing the level of each component, but also in determining the impact of each element on the development of an enterprise or business system. The state of business systems in the global environment is characterized not by a certain advantage, but by their combination. The integral assessment methodology includes indicators that have a special effect in dynamics. At

the same time, in such an assessment, it is appropriate to use coefficients and relative indicators, as they assess the impact and carry additional information. Determination of the impact of each element on the development of the enterprise or business systems based on expert assessments, as well as the impact of global environmental factors is carried out using adjustment factors, taking into account actual changes in the markets.

For the quantitative assessment of the metastate, it is proposed to use the aggregation of individual indicators into a single consolidated indicator, which synthesizes information about the values of individual parameters, as well as provides information about the importance of these parameters [6;11]. When assessing the importance of parameters, expert assessments are used, and point assessments are used to determine the numerical values of the parameters. If the value of the integral metastate index is equal to 1, based on the economic content of the calculation, it means the equilibrium influence of positive and negative factors that determine the level of the integral metastate index. The given method assessing the metastate of business systems is based on a system model of parameters, matrix analysis and expert estimation by experts that gives the chance to carry out the comparative analysis in dynamics on separate business systems.

It is advisable to interpret the integral metastatic indicator of the development of business systems according to the Harrington scale, which provides for five levels of assessment in the general range of the scale from 0 to 1. The Harrington scale is a universal quantitative measure of the

metastatic parameters of the development of business systems, it is divided into five sections, which characterize different levels of desirability, and the value of 0.37 is the critical point of transition from unsatisfactory to satisfactory.

The linguistic and quantitative characteristics of the Harrington scale for the interpretation of the integral indicator of the metastate of the development of business systems are given in Table 1. We will assume that the proposed boundaries of zones of change of a condition are quite stable. Thus, it is important to constantly monitor the integrated indicator, which allows us to draw conclusions about the trajectory of business systems and the improvement or, conversely, deterioration.

Assessing the metastate of the development of business systems in a global environment allows for timely decisionmaking regrading tactics and strategies for prospective development of business systems [5]. Evaluating the metastate of the development of business systems in a global environment can lead to timely decisionmaking regarding tactics and strategies for the future development of business systems [5]. Taking into account all indicators of activity, as well as important factors of global external influence, forms the advantages of a possible diagnosis of business systems in international markets and the development of its strategy, taking into account the capacity of the market and directions of its development, barriers to the market, peculiarities of competition.

Indicators were defined as factors of the global environment for the study of Ukrainian business systems, including: Variable 1 - nominal GDP growth rates in UAH equivalent, %; Variable 2 - nominal GDP growth rate in U.S. dollar equivalent, %; Variable 3 - inflation rates, %; Variable 4 - turnover of external debt, %; Variable 5 - real wage index, %; Variable 6 - unemployment rate, %; Variable 7 - coefficient of coverage of exports by imports, Variable 8 - index of industrial products, %; Variable 9 - direct investment in the economy of Ukraine, in million U.S. dollar; Variable 10 - balance of investment activity in Ukraine, %; Variable 11 - exchange rate of UAH against U.S. dollar (average for period); Variable 12 - exchange rate of UAH against Euro (average for period); Variable 13 - UAH devaluation index; Variable 14 - average world price of BRENT oil, in U.S. dollar per barrel; Variable 15 - producer price index; Variable 16 - specific weight of completed scientific and scientific and technical works in GDP, %; Variable 17 - specific weight of enterprises engaged in innovation, %; Variable 18 - specific weight of unprofitable enterprises of Ukraine, %; Variable 19 - return on assets of Ukrainian banks, %; Variable 20 - return on equity of Ukrainian banks, %; Variable 21 - change in quotations according to the Dow Jones index 30, %; Variable 22 - change in quotations according to the S&P 500 index, %; Variable 23 - change in quotations according to the FTSE 100 index, %.

Empirical results.

We will test the evaluation of business systems development trends on the basis of machine-building enterprises of the Kharkiv region of Ukraine as PJSC “Electric Machine”, PJSC “Pivdenkabel”, PJSC “Turboatom”, PJSC “HARP”, PJS “Turbogaz”, and PJS “Kupyansk MachineBuilding Plant”.

First of all, let's define the list of parameters of the state of business systems. Thus, the group of production parameters includes capital efficiency, capital intensity of production, profitability of production, capital adequacy of labor, labor intensity of products; technological and property parameters include return on assets, turnover ratio of current assets, turnover of equity, return on equity; personnel parameters are revenue per employee, labor productivity;

social parameters are the share of wage costs in the cost structure, profitability of labor costs, wages [12]; financial parameters are revenue, financial autonomy ratios, receivables turnover ratio, total liquidity ratio, current liquidity ratio, absolute liquidity ratio, financial dependency ratio, financial risk ratio; material and supply parameters are the percentage of material costs, inventory turnover; marketing parameters are product rating in terms of its functionality, quality, price characteristics, after-sales service, the share of marketing costs in cost structures, the number of promotions on the site; foreign trade parameter is the share of exports.

Table 2 presents the constituent parameters of the formation of the integral indicator of metastate by the chosen machinebuilding enterprises in 2021.

Table 1 Interpretation of the integral metastate index of business systems

In order to bring a variety of indicators that characterize different quality status and are multidimensional into a single scale, their normalization (standardization) was carried out. The absolute indicators of the state of business systems were normalized. These indicators characterize the level of deviation from optimal values. At the same time, the level of influence of the parameter is taken into account, both as a stimulator indicator and as a stimulator. Thanks to the normalization of indicators, the parameter values fell into the range [0; 1].

We also consolidated the estimated parameters, which was a determination of the weight of the significance of the parameters. The establishment of weight coefficients was carried out by expert specialists of machinebuilding enterprises of the Kharkiv region within each group of parameters using a score, taking into account the importance and impact of the indicator. It was proposed to select points on a numerical rating scale. First of all, intermediate integral indicators are determined for each of the groups, and then a general integral parameter is formed. Based on the obtained integral indicators, the integral index of the metastan of business systems was determined, systematically reflecting the effectiveness of business systems in the machine-building industry of Kharkov and allowing one to determine strategies for their development.

Discussion.

Based on the results obtained, we will formulate development strategies for the business systems under study. Development strategies for machinebuilding enterprises in the Kharkov region (Ukraine) are determined on the basis of reporting information on productivity, calculation of the integral metastate index, and their corporate sites, taking into account the global environment, presented in Table 3.

Table 2 Component parameters of the integral metastate index of machine-building enterprises of Kharkiv region (Ukraine) in 2021

Source: calculations by the authors

Table 3 Development strategies of the machine-building business systems of the Kharkiv region and directions for their implementation

The studied machine-building enterprises of the Kharkiv region can be grouped according to the following types of development strategies:

- a strategy of rapid growth aimed at ensuring the development of enterprises, offensive positions. Enterprises of the machine-building industry that implement the following development strategy: PJSC “Kharkiv Bearing Plant”, PJSC “Pivdenkabel”;

- a strategy of moderate growth and stabilization, characterized by stable parameters of business systems development, adequacy of resources for development, aimed at saving resources and costs, market expansion and development, product upgrades, innovative development. The enterprises implementing this strategy are PJSC Turboatom, PJSC Electric Machine, PJSC Pivdenkabel, PJSC Turbogaz;

- a strategy of curtailment, reduction, which is characterized by negative development trends due to lower profits, reduced assets, reorientation of consumers to other products or markets. The company implementing this strategy is the Kupyansk Machine-Building Plant Private Joint- Stock Company, which is in the process of liquidation.

Conclusions

Taking into account the unstable and unpredictable conditions of today, the assessment of the global conditions of business development and their impact on the final result is a priority area of applied research. Timely consideration of the impact on business development of the specified factors and relevant trends will allow maximizing income and minimizing the risks of partner international economic relations.

Modern conditions of integration and disintegration require timely diagnosis and assessment of the trajectory of development of business systems. The business entity must assess its position in detail and urgently take advantage of the available preference. The consequences of a timely assessment allow the management of business systems not only to develop and implement a strategy, but also to adjust it in a timely manner in connection with changing conditions ofthe global environment. The integral indicator of the development of the enterprise in the international business environment is the basis for the formation ofthe vector ofsustainable development. The availability of calculations of the integral indicator of advantages allows for tactical management, development and implementation of development strategies, building the potential of business systems.

As a result of the research, a methodological approach to the assessment of trends in the development of business systems has been developed, which will allow obtaining additional advantages in the global environment. Minor advantages, such as low-cost labor or materials, may simply be captured by competitors. Such significant advantages as technology patents, uniqueness of goods or services, image due to an active marketing policy or communication strategy in relation to customers are associated with detailed calculations and additional resources. Determination of benefits becomes a basic characteristic for monitoring information provision regarding the organization of enterprise activities in a global environment.

Competition in international markets forces business systems to quickly adapt to the relevant conditions, monitor, analyze and evaluate the components of the global environment, determine development trends, therefore the development and implementation of a strategy is always relevant. Most enterprises choose a strategy spontaneously, taking into account current events and processes, without using the tools of strategic management and analysis. For this, it is sometimes necessary to change the direction and means of achieving goals. As a result of unfounded steps, business systems become unprofitable, unable to achieve planned results, improve dynamic performance. The lack of a sound development strategy in the global environment can lead to bankruptcy, loss of competitive positions, and losses.

The formation of the overall strategy for the development of the enterprise is the basis for choosing an organizational strategy in the business system, which covers various processes that take place in the business system in the process of entering new markets, growth or expansion, mergers and acquisitions, restructuring, reorganization, modernization, opening ofdepartments, branches, development of integration, associations, etc.

The paper provides a contribution to the research of the methodology for assessing the development of enterprises that can be applied to other enterprises, not only to the Kharkiv area. The work offers the possibility to develop further research from the point of view of strategic management, the concept of six sigma, machine industry and production optimization.

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