Improvement Of Enterprise Strategic Planning In The Field Of Foreign Economic Activities

Abstract

This article reveals the modern features of strategic planning of foreign economic activity of enterprises and the state as a whole. Based on the analysis of scientific works of domestic and foreign scientists and researchers, the structure and stages of the process of strategic planning of the foreign economic activity of an enterprise have been developed. In order to ensure the effective operation of the system of strategic planning of foreign economic activity, based on the results of the development of stages, a number of requirements are established in accordance with its features. The issues of formation and functioning of the system of foreign economic activity in the context of modern trends in the development of the economy of our country and the world economy are studied. An analysis of the statistics of indicators that determine the priority directions for the development of the domestic and world economy is presented. Particular attention is paid to the study of the need for a rational approach to the organization of the system of foreign economic activity in Russia. Perspective priority directions of development of foreign economic activity in the modern world are indicated. For the successful implementation of strategic planning of foreign economic activity, the principles of its implementation are defined and characterized. After analyzing the process of strategic planning of foreign economic activity, the types of managerial activity are formulated. As a result, mandatory criteria for strategic planning of foreign economic activity were identified.

Keywords: Foreign economic activity, globalization, innovative development, management, strategic planning, strategy

Introduction

The current state of the world economy is complex and unstable, and the pace of change often outstrips the response of the enterprise, which causes difficulties in doing business. Strategic planning is a topical issue and becomes necessary under such conditions, but for most domestic enterprises it is a fairly new phenomenon. The implementation of strategic planning of foreign economic activity contributes to economic growth and increase the efficiency of the enterprise. The success of its implementation is determined by the extent to which the enterprise successfully adapts to the economic, political, social and other areas of foreign economic activity.

Problem Statement

The various processes taking place in the world, on the one hand, are a consequence of the events of the previous century, on the other hand, an indicator that the development of all factors influencing the formation of the world is accelerating. If in the 20th century the main directions were institutional changes, globalization processes, the active formation of transnational corporations, then in the 21st century there is a qualitative change in these processes.

An analysis of factors affecting the economy, such as labor, natural resources, scientific and intellectual capital, and the volume of financial resources, makes it possible to form strategic directions for development. The communication capabilities of most countries have changed and improved qualitatively.

Research Questions

The subject of the research is the processes of forming a strategy for the development of foreign economic activity.

The nature of the development of the economies of the countries of the world is undergoing constant transformation. Their research is necessary to form a real picture of ongoing events and apply the necessary measures to optimize further actions to correct measures for shaping the socio-economic development of the world community as a whole (Visualizing, 2021).

A significant amount of scientific literature, studies and scientific publications are devoted to the issues of state regulation of foreign economic activity. The study of the strategy of economic development is presented in the classical works of economic theory and modern researchers.

Some studies are actively used in shaping the development strategies of states and their regions, as well as the world economy as a whole. At present, draft strategies for the socio-economic development of regions until 2030 are being developed in the constituent entities of the Russian Federation, and in some regions until 2035, the Development Strategy of the Russian Federation is being formed taking into account regional development strategies. In the context of globalization, the states of the world must develop common development strategies, which is a necessary condition for creating an atmosphere aimed at the sustainable development of countries with different economic levels. One of the documents adopted by the UN is "Transforming Our World: The 2030 Agenda for Sustainable Development".

However, many problems remain not fully disclosed. According to the analysis of publications on the issue of research, not enough attention is paid to the macroeconomic aspects of foreign trade policy. For the coordinated development of development strategies, taking into account the peculiarities of the economic and social development of individual regions, as well as the state as a whole, a clear methodological base has not been formed to date. The specialization of the structural features of the regions of Russia, as well as the use of practical mechanisms for state regulation of foreign trade at various levels, has not been sufficiently studied.

Purpose of the Study

The study presented in this article offers an analysis of current trends in strategic planning of foreign economic activity, a study of current trends in the development of the world economy, its resource potential.

Research Methods

The study is based on a general scientific methodology, which provides for the application of a systematic approach to solving problems. The basis of this work is the scientific works of domestic and foreign scientists on the issues of strategic planning of foreign economic activity.

Findings

The study of the strategic priorities of the countries of the world and their regional characteristics allows us to create the most optimal picture of the present and allows us to predict further steps to optimize it.

The intensification of economic contacts in the global direction leads to the unification of consumer demand throughout the world. The world economy shapes development through the relations in the aggregate of all countries and their opportunities in the world market. Globalization has made it impossible to completely isolate individual countries, for example, the isolated Democratic People's Republic of Korea, but at the same time trading with more than 80 countries.

“The strategy is the main tool for achieving the target strategic guidelines for managing the development of an enterprise, which can be expressed both quantitatively and qualitatively” (Dadaev, 2021, p. 141) (Table 1). Scenario planning is a predictive approach that aims to envision alternative futures in the form of various configurations of new events and drivers of change (Bradfiled et al., 2005). More precisely, scenarios are descriptions of fundamentally different paths, presented as a scenario or narrative, that tell coherent and credible stories leading to an alternate future (Schoemaker, 1993).

The economic cycles identified in scientific research began to synchronize – they allowed the world economy to develop in a relatively unified direction. An example is the transfer of production of high-tech goods to developing countries. On the one hand, it reduced the cost, on the other hand, it made it possible to adopt a variety of technologies for the development of their high-tech industries. At the end of the 20th century, developing countries qualitatively changed their production structure by adapting it to the domestic market, and then moving to the foreign market with their goods. Changes in the mechanism of the world economy have become systemic. As a result of the accumulated tangible assets, there was a decline in the production of heavy industries, production in the light and food industries changed, and the share of the raw materials sector decreased.

Production is becoming more technological and science-intensive, even in such traditional areas as light and food industries. Foreign economic relations are shifting towards intangible assets. The 20th century laid the foundations for the current state of the economic world system. And the further development of the economy and social development should develop depending on the possibility of adapting to the challenges of globalization.

Features of the socio-economic development of the countries of the world in the XXI century is changing. The challenges that affect the course of history are constantly transforming and encompassing the entire world community. The next industrial revolution creates innovative solutions and creates new technological chains. Technologies are merging and blurring the boundaries between the digital, industrial and biological realms. Digital transformation is defined as the use of new digital technologies, such as mobile devices, artificial intelligence, cloud technologies, blockchain and Internet of Things (IoT) technologies, to provide a business environment, improve customer experience, streamline operations or create new business models (Karl & Warnera, 2019).

General digitalization will lead to the emergence of a more comfortable living environment, will make adjustments to the financial and industrial spheres, which will allow the creation of automated systems for managing production and human resources. There are many examples of what the realities of the economy will look like in the era of the industrial revolution. The emergence of new business models, financial and technology startups is becoming more profitable than the operation of traditional investment banking groups. Significant directions in the modern development of the economies of many states are:

1. Transformation of the globalization process. Countries deliberately go for some restriction in order not to fall into self-isolation. However, the reality is that the further technology develops and self-sustaining and import-substituting industrial production grows, the more countries become independent from others. This provision is proved by the example of our country, which, after the introduction of economic sanctions, quickly rebuilt its production in the direction of self-sufficiency.

2. Deepening and expanding scientific and technological progress creates innovation, but at the same time makes the world more vulnerable.

3. Alternative energy. Most countries of the world are looking for ways to obtain energy from alternative sources. The development of alternative energy is taking place in the conditions of a large-scale crisis of oil companies.

4. Problems of ecology and climate. The report of the UN Secretary-General states that the average air temperature on the planet this century could rise by 3 degrees Celsius, which would be a disaster for humanity. More than a million species of animals and plants out of the existing 8 million are on the verge of extinction. Air pollution-related diseases cause 6.5 million premature deaths each year. Another 1.8 million people, mostly children, die due to water pollution (United Nation, 2021). The negative results of the economy in recent years associated with the pandemic must be corrected by state regulation measures.

In Russia, despite the situation with the pandemic and the global crisis, macroeconomic indicators are generally positive. The foreign policy of our country, aimed at strengthening and expanding foreign trade activities and other types of foreign economic relations, allows us to transform these areas of activity depending on global challenges. The Development Strategy of the Russian Federation 2035 will make it possible to predict situations hindering the development of Russia. For example, business support measures allow the state to become more competitive in world markets.

The impact of the crisis was contained thanks to a prudent fiscal policy, monetary easing, and the introduction of social support measures (Savina, 2019). Activities aimed at supporting the population had a positive effect in society. Social payments made by the state to certain categories of the population minimized the negative impact of the crisis in the economy.

The crisis situation associated with the pandemic has most of all affected industries in which a large number of citizens are involved either as producers or as consumers – the service sector, manufacturing, construction. The country's relatively low public debt, large reserves, Russia has some leeway for gradual consolidation. The impact of the crisis and the pandemic had a different impact on the socio-economic indicators of the development of individual regions of Russia (Ivanitskaya & Vasilyeva, 2015). Thanks to a more moderate pace of consolidation, it will be possible to further increase spending on social assistance measures and maintain the real amount of support for the regions.

The main recommendations can be divided into three areas, namely: reform of foreign economic activity to stimulate Russia's participation in global pricing processes; optimization of the role of services in the economy; facilitating the inflow and outflow of foreign direct investment by improving the regulatory framework and reducing restrictions.

Attention should be paid to increasing the competitiveness of domestic products in international markets. Competition is one of the main features of a market economy, so it is necessary to adapt to the competitive conditions of enterprises in all sectors of the national economy. This is especially true of the situation of access to foreign markets in the organization of foreign economic activity. Today, it is especially important for domestic enterprises to increase the competitiveness of their products. And under these conditions, in order to ensure successful competition in the international market, companies must not only improve technology and processing equipment, but also identify their strengths and weaknesses, study markets and carry out good marketing activities. Companies selling their goods to foreign and domestic markets in a market economy must consider the quality levels and global costs of creating and selling goods. When entering a new market, making decisions to increase or decrease production, invest in technology upgrades or product changes, it is especially necessary to evaluate the competitiveness of products and the enterprise itself. Ensuring competitiveness is the main strategic goal of any enterprise.

Russia has the potential to stimulate long-term economic growth by deepening and increasing its share of global value chains in the manufacturing and services sectors. These opportunities can be secured by meeting the domestic development goals of developing exports of high-tech industrial and agricultural products, creating jobs in these sectors, and accelerating technological development in Russia. In these difficult conditions, objectively affecting absolutely all countries of the world, Russia is forced to bear an additional burden in the form of economic sanctions imposed by a number of countries. Despite all the difficulties that our economy is facing, Russia has everything it needs to take its rightful place in the system of the new reality. We are talking about developed human capital, wealth of natural resources, favorable geographical position, transit potential and much more.

Conclusion

Strategic planning is the main stage in strategic management; therefore, it includes multi-level, complex activities and a large number of management decisions. It is possible to identify such mandatory criteria that a strategic plan for foreign economic activity should contain: the plan must be supported by large-scale studies and factual data. Effective competition in the modern business world requires the collection and detailed analysis of information about the industry, the situation of foreign markets, competition in them and other factors; the plan should form the certainty of the enterprise and its individuality; the overall strategic plan should be viewed as a long-term project, which should always be flexible, remain holistic throughout the entire period, given that the dynamics of the environment require constant adjustments. The most important thing that needs to be taken into account in the strategic planning of foreign economic activity is the relationship between the internal and external environment: internal – taking into account the resource potential, external – with the ability to compete in foreign markets and take a stable position.

The period of introduction of economic sanctions for Russia was not easy – reorientation in geopolitics and transition to the process of import substitution. The subsequent reorientation from the western direction to the east took place quite quickly and the trade turnover of our country has been increasing in recent years.

The structure of the economy and production is being restructured. A complete transition from the exploitation of the commodity sector is not possible in the short term. Over the past few decades, the Russian economy has implemented many innovative solutions and occupies not the last positions in technological development. Also, our country has the opportunity to acquire the assets of many technology companies at the expense of funds invested in Western bonds.

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