Development of company`s strategy based on the balanced scorecard system

About the authors:

Natalia M. Chikisheva,
Olga G. Semyannikova, Cand. Sci. (Econ.), Associate Professor at the Department of Management, Tyumen State Architectural University
Denis V. Semyannikov, Master of Sci. (Econ.), G.M. LLC «Avtograd Prestige»

Abstract:

The article presents the results of the research conducted by a group of authors about the current issues of strategic corporate management implementation in constantly changing environment. The aim of the study is to develop a methodological approach to the formation organization strategy based on the Balanced Scorecard. Different methods of scientific research were used for the study: a systematic analysis, logical method, general scientific methods of cognition (analysis, generalization, and synthesis), methods of financial computation, expert assessment, statistical and economic analysis, and many others.The nature of the strategic management of the organization was studied during of the research alomg with defining the minimum necessary steps in the process of strategic management; also a critical analysis of different approaches to the strategy formation was carried out. The research report summarizes the main disadvantages of the existing methods of selecting the organization strategy, highlights and justifies the basic principles of the strategy formation, and substantiates the use of Balanced Scorecards as a methodical basis for strategy development in modern companies. Based on this research the authors proposed a methodological approach to the organization’s strategy formation with the use of Balanced Scorecards and developed a strategy for «Avtograd Prestige» company according to it and then assessed the effectiveness of its implementation.The scientific novelty of the study lies in outline and justification of the basic principles of organization strategy development, and the fact that methodical approach to the organization strategy formation was proposed based on the Balanced Scorecard. The research results have theoretical and practical value, as the suggested methodical approach is coherent and easy to use for the development of the organization strategy, based on the Balanced Scorecard. The proposed methodology has been tested in practice and is currently used in the management system of «Avtograd Prestige» company.

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