Khrystenko Olga, PhD in Economics, Associate Professor of the Department of Enterprise Economics, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0000-0003-0431-5328
e-mail: olhakhrystenko@gmail.com

Kertychak Valentyn, PhD student economics, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID ID: 0009-0004-6522-546X
e-mail: Agrokvn@gmail.com

Determination of the investment strategy for the development of the enterprise in the conditions of the crisis economy

Abstract. Introduction. Achieving stable growth, competitiveness and sustainable development of the agricultural industry, which plays a primary role, is one of the most important and defining responsibilities. Investments play a crucial role in the fulfillment of this task, as they act as a catalyst that determines the scale, direction and security of the enterprise. In the conditions of scarcity of resources and crisis phenomena, the investment activity of the enterprise is one of the most important vectors of multifaceted activity.

Purpose. Based on the analysis of various views on the meaning of the concept of investment strategy, a vision of its meaning was formulated. The main plan of action of an enterprise is the investment strategy, which determines the priorities of its directions and forms, the manner of formation of investment resources, the procedure for implementation of long-term investment goals, ensuring the effective development of the enterprise.

Results. Considering the theoretical and scientific foundations of the development of an enterprise’s investment strategy, it becomes clear that a carefully developed strategy taking into account the characteristics of the enterprise is a component of strategic stability, as it is the main direction of activity. The decision should be related to the research and evaluation of multiple investment options that place the greatest emphasis on the purpose and strategies of business development. It is necessary to formulate a balanced investment strategy, taking into account all possible factors (duration of the company’s activity, external and internal influences, investment appeal of the enterprise, etc.). When developing an investment strategy, extensive work is carried out to identify and develop alternative investment solutions that are most beneficial for the company’s goals. The investment plan must be monitored and changed during the entire process of activity depending on external conditions and the ability of the enterprise’s industry to develop.

Conclusions. Taking into account the views of researchers, it is apparent that a properly developed investment strategy is an effective tool that ensures the direction of the enterprise’s investment activities and chooses production development direction. Besides, the development of the investment strategy is also determined by changes in the operational goals of the firm, caused by the diversification of production. It is necessary to diversify the company’s activities over time i.e. to cease non-profitable activities, and to develop new profitable ones, in order to avoid the period of “decline” and, as the worst option, the phase of dissolution. In these circumstances, the forms of investment activity of the enterprise must be predictable and perfectly balanced, taking into account the resource potential of the enterprise.

Keywords: investment strategy; strategic planning; development; enterprise; strategy implementation; development strategy.

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