Theoretical aspects of evaluation of strategic planning of foreign economic activities

Damir Kulish
Additional contact information
Damir Kulish: Zaporizhzhya National University

Economic Synergy, 2023, issue 1, 281-293

Abstract: The theoretical aspects of the importance of assessing the strategic planning of foreign economic activity have been studied. Strategic planning of foreign economic activity is a set of management decisions and measures that determine the long-term practice of companies. This concept includes scanning the internal and external environment, formulating strategy, implementing strategy, and evaluating and monitoring results. Thus, strategic planning emphasizes monitoring and evaluating external opportunities and threats in the context of the company's strengths and weaknesses. Strategic planning, known as business policy, includes the main phases of concepts as well as strategy formulation and implementation. In addition to the above, another goal of strategic planning is to cover subjects that identify new technologies as decision support in strategic management. Decision support systems are interactive software systems that analyze large amounts of data and are used to make a variety of business decisions. Eligible fields of study may vary, including management, business informatics, digital business transformations, business economics, econometrics, decision theory, operations management, database management, etc. Strategic planning of foreign economic activity is an important process in preparing for the fulfillment of your organization's mission. An effective process of strategic planning of foreign economic activity provides a basis for making decisions about the distribution of organizational resources, solving problems and using opportunities that arise along the way. Thus, we can say that this plan is an organizational process and should define a strategy or direction for decision-making regarding, for example, the allocation of resources, business strategy or a possible alternative direction of business development.

Keywords: significance; assessment; strategic planning; foreign economic activity (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://es.istu.edu.ua/EconomicSynergy/article/view/93/81 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2023:i:1:p:281-293

DOI: 10.53920/ES-2023-1-20

Access Statistics for this article

More articles in Economic Synergy from Higher Educational Institution Academician Yuriy Bugay International Scientific & Technical University
Bibliographic data for series maintained by Anna Duchenko ().