Improvement of approaches to justification of diversification of economic activities of the enterprise

Authors

  • A.S. Panyusko Polessky State University, Pinsk, Republic of Belarus
  • A.V. Kievich Polessky State University, Pinsk, Republic of Belarus

Keywords:

strategy, diversification, synergy, cause-and-effect relationships, efficiency of economic activity

Abstract

Objective – substantiation of theoretical and methodological provisions and development of practical recommendations for the development of diversification of economic activities (for example, JSC "Agro-Motol").

Materials and methods. The theoretical basis for the study was the works of foreign and domestic authors on solving the problem of an effective diversification strategy. The abstract-logical method and the method of comparative analysis are applied.

Results. Based on the analysis and generalization of existing problems, the author's approach is proposed to form the competitive advantage of an organization, in order to conduct an effective diversification strategy, by achieving a synergistic effect. Theoretical and methodological provisions have been substantiated and practical recommendations have been developed for the development of this direction, as well as an assessment of the quantitative and qualitative level of diversification at the enterprise has been carried out.

Conclusion. The scientific novelty of the results obtained lies in the substantiation of theoretical and methodological approaches, proposals that ensure the successful implementation of the strategy for diversifying economic activities. The most significant results containing scientific novelty:

  1. improved methodological approaches to assessing the level of diversification, taking into account the peculiarities of agribusiness, which make it possible to assess the quantitative and qualitative level of diversification;
  2. the methodology for substantiating diversification has been clarified, which is distinguished by the use of a cause-and-effect diagram in conjunction with the method of brainstorming, which makes it possible to establish constraining and driving forces and propose, on this basis, measures to expand the range of activities;
  3. the organizational form of interaction between economic agents is substantiated, which is distinguished by the use of clustering tools, which allows creating the prerequisites for obtaining synergistic effects.

Author Biographies

A.S. Panyusko, Polessky State University, Pinsk, Republic of Belarus

Postgraduate Student of the Department of Financial Management, Trainee Teacher at the Department of Economics and Business

A.V. Kievich, Polessky State University, Pinsk, Republic of Belarus

Doctor of Econ. Sc., Professor, Professor of the Department of Financial Management

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Published

2021-12-28

How to Cite

Панюсько, А., & Киевич, А. (2021). Improvement of approaches to justification of diversification of economic activities of the enterprise. Economy and Banks, (2), 70-79. Retrieved from https://ojs.polessu.by/EB/article/view/1576

Issue

Section

Issues of regional economy