FOCUSING ON STRATEGIC OBJECTIVES OF UKRAINIAN ENTERPRISES CONSIDERING THE EUROPEAN INTEGRATION

Анотація

Introduction. Modern companies have to face the difficulties of the unstable world economy by being flexible to all the rapid changes. As a result, in the mid 70’s the concept of strategic management appears in the business society. The concept builds on this definition of strategic planning, recognizing that although planning is the prelude of strategic management, it is insufficient if not followed by the deployment and implementation of the plan and the evaluation of the plan in action. Strategic management is a systems approach to identifying and making the necessary changes and measuring the organizations performance as it moves toward its vision. [1] Nowadays, Ukrainian companies should realize that the country moves towards the entrance in the European Union, which will lead to law transformations in the variety of business areas. Therefore, in order to have steadier chances to survive in the new-to-be regulations, domestic companies already have to begin building strategies for future EU entrance situation. Objectives. To identify the role of setting strategic objectives by Ukrainian companies with the main focus on European integration Methods. The appropriate literature (EU-Ukraine Association Agreement, Ukrainian Road Map, etc) was looked through, as well as official reports from the following resources: Eurointegration portal, Ministry of Foreign Affairs, Government Office for Coordination of European and Euro-Atlantic Integration. Such methods as analogy, method of the a priori, brainstorming and scenario were applied during the study research. Results. After analyzing the EU-Ukraine Association Agreement, it is clear that sides establish conditions for enhanced economic and trade relations leading towards Ukraine's gradual integration in the EU Internal Market..Ukrainian companies should take it for granted that Ukrainian Government must implement steps for law modification. [2] The first thing to be prepared for the improved changes is to follow the Road map of the legislative provision of the implementation of the Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their Member States, on the other side for 2018-2019. [2] The second thing is to set flexible long-term goals. Objectives are the specific measurable results of the initiative. An organization's objectives offer specifics of how much of what will be accomplished by when. Ukrainian enterprises must adhere to the advanced version of SMART objectives, which includes one more criteria and can be described as SMART + C Criteria.", where “Challenging” stands for C. Some domestic firms have already implemented the recycling process for their products in 2015-2017. They found it not only financially profitable, but also stood out as environmentally friendly, following the modern tendency. The owners claimed that the first years were quite complicated and profit will be achieved in a couple of years. In 2018, Ukrainian Government has proposed the new law for utilization, which later was successfully introduced by the President. Now those companies, which improved their waste management, have bonus time. Finally, local and foreign firms must take into consideration that strategic goals are better completed then they are based not only on business interests like to get more money and pay less taxes, but also on country interests, so that company is the first driving force towards the stated objectives. Conclusions. Creating objectives helps the organization keep focused on initiatives most likely to have an impact, as well as, keeping members of the organization working towards the same long-term goals. Ukrainian enterprises must include all three types of objectives: objectives that measure behavior change, community outcomes, and those that measure important parts of the planning process. Companies have to follow the EU standards of their fields now and search for them to be informed earlier than domestic rivals and possible foreign ones.

Thesis Supervisor: Dergachova G.M., PhD of economic sciences