Issue: № 10, 2023
Doi: https://doi.org/10.37634/efp.2023.10.7
The purpose of the paper is to study the theoretical foundations of the formation of an enterprise's investment strategy in modern conditions. By analyzing, systematizing, and summarizing the scientific works of many scientists and researchers, the essence of the concept of «investment strategy» was determined, depending on the scientific point of view and practical experience of various authors. The main goals of the investment strategy are determined, including maximizing profit from investment activities, minimizing investment risks, ensuring the improvement of the state of the enterprise due to effective investment activities. Eight main stages of formation of the enterprise's investment strategy have been identified. The principles of forming the investment strategy of the enterprise are characterized. The paper highlights the following principles: consideration of investment risk in the process of making strategic investment decisions, adaptation of the investment strategy to changes in factors of the external investment environment, ensuring the flexibility of the investment strategy, taking into account the main strategies of the enterprise's operational activity, and using the results of scientific and technical progress in investment activities. Attention is focused on the importance of taking into account innovative approaches when forming an enterprise's investment strategy. It was investigated that, despite the crisis phenomena and political instability in Ukraine, domestic enterprises continue to conduct investment activities. According to the results of the research, the main measures to improve the process of investment strategy formation, including the improvement of the system of analysis of the external and internal environment of the enterprise, the introduction of modern methods of evaluating investment projects, the study of the legislative framework for the regulation of investment activity and adaptation to its changes, the creation of an investment project management system, which will help to ensure effective implementation of investment projects and achievement of set goals, etc.
Keywords : investment, investment activity, investment strategy, enterprise, innovation
References:
1. Law of Ukraine on investment activity dated September 18, 1991, № 1561-XII. Information of the Verkhovna Rada of Ukraine. URL: https://zakon.rada.gov.ua/laws/show/1560-12#Text (in Ukrainian).
2. Bestuzheva S.V., Kozub V.O. Formation and implementation of the international investment strategy of the enterprise: methodical aspect. Economic space. 2020. № 154. pp. 16-20. URL: http://prostir.pdaba.dp.ua/index.php/journal/article/view/467/455 (in Ukrainian).
3. Maiorova T.V. Investment activity: study guide. Kyiv: Center for Educational Literature, 2003. 376 p. (in Ukrainian).
4. Dobrynina L.V. Stages of implementation of investment strategies at the enterprise. Pryazovsky Economic Bulletin. 2019. № 1 (12). URL: http://pev.kpu.zp.ua/journals/2019/1_12_uk/15.pdf (in Ukrainian).
5. Hutorov O.I Investment strategy of the enterprise: principles, methods and stages of development. Bulletin of the KHNAU named after V.V. Dokuchaeva. 2021. №2 (2). pp. 212-226 (in Ukrainian).
6. Zobov O.S. Mathematical modeling of the investment strategy of enterprises. A young scientist. 2014. № 6 (1). pp. 119-121. URL:http://nbuv.gov.ua/UJRN/molv_2014_6(1)__31 (in Ukrainian).
7. Ukrainian business is the main investor in the economy during the war. Dnipropetrovsk Investment Agency. 2023. URL: https://dia.dp.gov.ua/ukra%D1%97nskij-biznes-golovnij-investor-ekonomiki-pid-chas-vijni/ (in Ukrainian).
8. Draft Law on Amendments to the Law of Ukraine «On Financial Mechanisms for Stimulating Export Activities» regarding the insurance of investments in Ukraine against war risks: dated 02/14/2023 No. 9015. URL: https://itd.rada.gov.ua/billInfo/Bills/Card/41349 (in Ukrainian).
9. Support of investments in the industry of Ukraine in the conditions of war and post-war recovery. National Institute of Strategic Studies. 2023. URL: https://niss.gov.ua/news/komentari-ekspertiv/pidtrymka-investytsiy-u-promyslovist-ukrayiny-v-umovakh-viyny-ta (in Ukrainian).