DEVELOPMENT STRATEGIES OF BUSINESS ENTITIES IN THE MODERN BUSINESS ENVIRONMENT

Abstract

The article reveals strategic aspects of the development of business entities in the modern business environment. The essence of the concept of «development strategy of business entities» has been clarified. The system of relationships between potential and real business opportunities and the development of strategies for the development of business entities is determined in the context of the variability of the business environment. The need to take into account the stage of the life cycle at which the subject of entrepreneurship is located is emphasized in the process of choosing a development strategy. In the context of the challenges of the modern business environment, the following strategies are proposed for the development of business entities that will have an innovative direction: encouraging a culture of innovation investments in research and development, open innovation and collaboration, use of new technologies, flexible approach to operations, client-oriented innovation. Further research is important in this direction to focus on studying the features of managing the integrated development of business entities.