TRENDS AND FACTORS OF BUSINESS COMPETITIVENESS MANAGEMENT IN MODERN CONDITIONS
DOI:
https://doi.org/10.31891/mdes/2023-8-23Keywords:
competitiveness, business, management, factors of influence, competition, globalization, external environmentAbstract
The article analyzes current trends and tendencies in managing business competitiveness. It is substantiated that business competitiveness is the ability of an enterprise or organization to compete effectively in the market for its product or service with other players, providing advantages over competitors and meeting customer needs better or more efficiently than others. The main components of business competitiveness were also identified.
The following trends in business competitiveness management were identified and detailed: digital technologies and the use of artificial intelligence; implementation of the principles of social responsibility and sustainable development; use of social networks and interaction; analysis of the competitive landscape; personalization of products and services. These trends were detailed in accordance with the areas of their practical implementation. It is also substantiated that such hard-to-predict environmental factors as military operations on the territory of Ukraine, changes in the logistics of supply of goods and services in many countries, and the general rise in world prices have a significant impact on business competitiveness in modern conditions. In particular, the article examines the main challenges and problems faced by businesses in Ukraine in the field of logistics since the beginning of 2022. there is a need for a complete reformatting of logistics. In particular, it was found that multimodal transport has become a major trend. They are the main functional elements of the international transport and logistics system that ensure coordinated interaction of participants in facilitating and maintaining the flow of goods and materials, which are considered strategic points of economic growth
To remain competitive in the face of rising global prices, companies can consider alternative sources of raw materials or optimise supply chains, reduce production costs, focus on innovation and offer unique products or services that can provide an additional advantage in the market.
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