=Paper=
{{Paper
|id=Vol-2422/paper10
|storemode=property
|title=Formation of the Context of the Company’s Economic Activity in the Strategic Positioning Process at Emergent Environment
|pdfUrl=https://ceur-ws.org/Vol-2422/paper10.pdf
|volume=Vol-2422
|authors=Mykhaylo Voynarenko,Kathrin Dumanska,Nataliya Ponomaryova
|dblpUrl=https://dblp.org/rec/conf/m3e2/VoynarenkoDP19
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==Formation of the Context of the Company’s Economic Activity in the Strategic Positioning Process at Emergent Environment==
https://ceur-ws.org/Vol-2422/paper10.pdf
121
Formation of the Context of the Company’s Economic
Activity in the Strategic Positioning Process at Emergent
Environment
Mykhaylo Voynarenko, Kathrin Dumanska and Nataliya Ponomaryova
Khmelnytsky National University, 11, Instytutska Str., Khmelnytsky, 29000, Ukraine
voynarenko@ukr.net, Dukatos2020@bigmir.net, n-snake@ukr.net
Abstract. Analytical studies of theoretical and methodological aspects of
company’s strategic positioning influenced by unpredictable factors of
changeable environment are examined in the article. Justification of effective
choice of strategic position is provided by the concept of formation of company’s
economic activity context in emergent environment proposed by the authors.
Problems of strengthening of company’s strategic position in conditions of
changeable economic environment with undefined factors can be solved by
means of the developed model of company’s economic activity context on the
basis of methods of mathematical modeling. One of the advantages of the model
implementation can be the usage of methodology of company’s strategic
positioning in economic environment. The model elaborated by the authors
implies a set of analytical-calculative aspects of testing and further
implementation in strategic management practice. The given article proposes the
first conceptual methodological stage of model of company’s economic activity
context implementation. The obtained results of further adoption can be applied
as element of strategic management of vertically integrated companies in
conditions of emergent environmental challenges.
Keywords: economic activity context, strategic positioning, mathematical
modeling, emergent environment.
1 Introduction
The current state and contemporary conditions of domestic economy restructuring
demand from companies quite new economic approaches. Integration steps of Ukraine
into the European Economic Community create new perspectives on the recruitment
processes, organization of production, or availability of new ideas and innovative
projects. The concept of business development efficiency is also changing and
significant role in this process is played by successfully selected strategic position of
the company. New approaches towards strategic position selection and evaluation of its
effectiveness will increase the flexibility of the company’s response to changes in the
economic environment, which in their turn will strengthen competitiveness of the
company in the market and will allow more effective adaptation to the new conditions
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of development, updated quality standards and methods of product promotion. It is
important to remember that the period of renovation of the economy stimulates
companies to maintain their own position in the domestic market, on the one hand, and
successful entry into foreign markets, on the other. In order to solve such problems it is
necessary to apply conceptually new approaches that can unite both differences and
similarities that exist between identification and choosing strategic position as
processes of company’s management. Such approach, in accordance with author’s idea,
can be modeling of company’s economic activity context considering its emergent
aspects.
Strategic positioning problems were proposed and discussed by different prominent
economists and their theoretical view points and practical explorations are of valuable
importance for further researches and supporters.
The research of the effectiveness of company’s strategic positioning was initiated by
I. Ansoff in his work “New corporate strategy” [1]. Being one of the representatives
and supporters of systematization approach in company’s strategic development
concept and founder of the “school of planning”, Ansoff, applied his systematic
approach of corporate strategy shaping and company’s strategic positioning, which in
the 60s has became an innovation in the processes of corporate management [2].
One of the founders of the “school of design”, professor of the Harvard Business
School, K. Andrew, in his work “The Concept of Corporate Strategy” (1965) provided
quite innovative interpretation of the assessment of company’s strategic positioning,
which in his view should assess “... such kind of business, within which the company
can compete due to such stages of concentration of its resources that allow company to
transform its abilities into competitive advantages” [3].
J. March, the founder and ideological leader of the “school of learning”, and
prominent representative of the behaviorists’ approach, in his work “Behaviorists’
Theory of the Firm” proposes to assess the corporate strategy as “... an internal
mechanism that determines the company’s behavior in the market during the period of
competition concerning necessary resources ...” [4], which transforms the company’s
strategy from managerial to adaptive leverage of strategic positioning.
Significant contribution to the development of competitive direction of the
behavioural approach and the “school of positioning” was made by Harvard University
Professor M. Porter in the 70’s–80’s of the 20th century through the development and
implementation into the activity of more than 100 American companies the latest
aspects of strategic modeling by such as general strategic model (it is often mentioned
by economists as “M. Porter’s strategic model”), the “chain of values” method, the
methodology of company’s strategic positioning [5]. From the point of view of
progress, in changing of approaches to assessing the company’s strategic positioning,
we can observe a quite clear change in Professor Porter's views in his earlier and
modern works. And if the “early” Porter has fully emphasized the leading role of the
corporate strategy in the process of effective company’s positioning in competitive
environment, Porter of the later period defends rather an opposite position, which
destroys the standard methodological approaches to the assessment of adaptive
processes of the company. In his works of the 80’s–90’s, M. Porter has paid maximum
attention to the individualization of the corporate strategy of each individual company.
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He affirming that strategy is not only a leverage of successful company’s positioning,
but the basis of its competitive advantages and victories: “The strategy is aimed at
searching for development of an individual and unique way to compete not only
because it is the most versatile way for competition, but also because it allows a
company to build the activity of its price (production) chain individually and uniquely.
Strategy is the development of a special type of value (commodity), but not an attempt
to make the same kind of value (commodity) but only better one” [6]. M. Porter, as the
initiator of the creation of economic clusters and the founder of the nonprofit
organization of the United States, “The Initiative for a Competitive Inner City”
(founded in 1994 by Harvard Business School Professor Michael Porter) proved that
the competitiveness and adaptability of the company is determined by the
competitiveness and adaptability of its economic environment, and in its turn, depends
on the basic conditions and competition within the cluster
(http://icic.org/member/professor-michael-e-porter).
E. Utkin, one of the supporters of behavioural trend, became a bright representative
in the field of strategic and crisis management companies in the 90’s-2000’s [7]. The
basis of proposed methodology in the field of evaluation of company’s strategic
positioning is the application of the basic component of corporate management – the
motivation of each individual employee of the team in different ways according to
psychological peculiarities.
At the beginning of the XXI century many foreign of domestic economists
specializing in the study of multi-level issues of company’s strategic positioning
supported and followed the world economic opinion regarding the assessment of the
effectiveness of company’s strategic adaptation and positioning in a wide range of their
activities. The authors of the scientific works research problems of positioning and
adaptation of industrial companies, trade networks, advertising agencies and the
adequacy of their strategies in a changing environment with flexible competition. In
this context, A. Gradov, as one of the supporters of the competitive approach in the
study of strategic activity of business entities, in his work “Strategy firm effectiveness”
[8] offers a specific generalized approach towards assessing the strategy's effectiveness
and positioning of the firm based on the integrated business theory expressed by the
scheme of assessing the effectiveness of the company’s positioning and development.
Contemporary researchers in the field of strategic aspects of the company’s
economic activity context formation pay special attention on the consideration of the
processes of choosing strategic position, based on behavioural and emergent
approaches. For example, H. Greve and G. Gavetti [9], in the framework of the
behavioural approach, propose modern methods for evaluating the effectiveness of
company’s strategy from the point of view of competitiveness and psychological
assessment of activities of the customer. P. Beamish and N. Lupton [10] in their critical
analysis of Andrews’ research focus on the transition of modern companies from the
internal concentration of competitive resources to the exit beyond the geographical
boundaries of countries and reorientation to global international level of competitive
opportunities.
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M. Augier [11] in his turn, proposes a number of modern methods for evaluation the
process of company’s adaptability in the market and the basis of such methods can be
considered as the classical behavioural approach.
The concept of an emergent strategy and an emergent strategic approach to
management in accordance with the classification of H. Mintzberg [12] has appeared
in the “school of learning”, where the principle of emergent strategy is based on the
adoption of flexible intellectual decisions of a company manager in crisis situations.
Authors’ approach towards strategic positioning can be revealed in the process of
business capitalization modeling and formation of company’s alternative strategic
position in economic environment [13] and estimation of positioning effectiveness of
energetic companies in conditions of European integration [14]. Researching in the
field of transformation of social-economic system in conditions of global integration
was accomplished from the point of view of conceptual basis of economic emergent
processes [15].
2 Research Methodology
The concept of emergency reflects peculiarities of company’s activities in conditions
of unpredicted appearance of environmental challenges that are characteristic for
unstable politico-economical, social, legislative and other factors. Unpredicted
environmental changes, in their turn, can lead to company’s emergent reactions in the
form of concentration of principally new strategic resources and possibilities in activity
in conditions of unstable environment. Methodological apparatus of applied
mathematical methods can provide vide possibilities for reflection and analysis of key
aspects of company’s emergent reactions in economic environment.
On the basic of mathematical modeling methodology the proposed model of
company’s economic activity context was formed and presented by means of indirectly
proportional semi-logarithmic dependence of duration of the alternative strategy
formation (productive feature of the environment) from the conjuncture of its economic
environment (factor of nature of the environment) and was reflected by vectors’ system.
3 Results
3.1 Concept of Formation of Company’s Economic Activity Context in
Emergent Environment
Management of modern industrial companies provides a clear modeling of their
economic activity context. The construction of a clearly structured and, at the same
time, ramified model of situational analysis of the environment of an economic entity
provides an opportunity for its effective strategic positioning and adaptation to existing
economic, political, social, natural and other conditions of existence. However, the rate
of change in external as well as internal factors of influence has been so high in recent
years that companies do not have any time or opportunity to react quickly and construct
adequate development models even for the next six months. Possibility of preventing
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significant losses of the company in a similar situation gives a successful choice of
strategic position, which is preceded by a thorough analysis of the internal, external,
direct and market environment, and that can be resulted in forecasting the use of the
necessary resources, costs and profits. In bits turn, the choice of effective strategic
position of the company depends on the factors of its environment. That is why the
authors have selected an emergent research direction, which provides “operative
mobilization of fundamentally new qualities” [16] of a changing environment and
reveals the peculiarities of its influence on the company’s activities.
According to the authors’ explorations, it is advisable to consider the emergence
concept factors of company’s environment in the direction of emergent strategic
management that ensures spontaneous and flexible adaptation to the conditions of
external environment and promotes a timely response to processes of bifurcation,
nonlinear changes in the trends of external indicators. One of the examples of
manifestation of the emergence strategic management concept is the company’s micro
strategy [17], focused on short-term implementation with the achievement of short-term
goals that can ensure the flexibility and speed of the company’s response to the
influence of environmental factors. On the one hand, emergence concept characterizes
peculiarities of company’s activities in conditions of contemporary Ukrainian economy
with its emergent challengers that can appear on the side of social policy, legislation,
pricing, tariff formation and other environmental factors. At the same time, on the other
hand, emergency creates principally new reactions on environmental “irritants” that can
stimulate company in searching new possibilities of surviving and allow its further
development. Thus emergence concept simultaneously discloses the essence of
company’s economic activity context and provides possibilities of effective reactions
on various environmental changes.
Taking into consideration authors viewpoint it can be stressed that well-formed
economic activity context provides the company with the opportunity to effectively
predict the duration of strategic adaptation in a changing economic environment and
tendencies for further development within a certain time lag according to corporate
strategy. Based on the information on the state of factor and performance indicators of
the economic environment in the form of economic indicators of the context of
economic activity, the company is able to forecast its competitive position in the
market, which, in turn, allows us to form a strategic direction of development and to
determine a convenient strategic position.
Effective strategic positioning of company in the market provides high level of its
competitiveness, especially in conditions of dynamic economic environment [18].
Successful strategic position, fresh commercial ideas and various market advantages
allow companies maintain favorable conditions for effective business activities and
they can easily dictate their rules to partners and competitors. That is why modern
companies consider effective strategic positioning to be one of the major aspects of
corporative strategy formation. One of the most important factors of a company’s
strategic position selection is the successful formation of the context of its economic
activity. The “context of economic activity” is explained by the authors as “the space
of parameters of the economic environment in which it is possible to trace and predict
the dynamics of changes in conditions of the company, the dynamics of changes in
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factor and indicators performance of the economic environment, presented in the form
of economic indicators, and the duration of the process of strategic adaptation in given
conditions” [19].
The concept of formation of company’s economic activity context, according to the
authors, is based on a number of such processes as:
─ formulating company goals;
─ studying economic environment and level of factors of its emergence;
─ determination of critical elements of a market environment and internal environment
that can affect the company’s ability to achieve its goals;
─ forecasting of company’s interaction with economic environment in future.
The question of company’s influence on the economic activity context and its
contextual dependence is controversial, as the impact of one or another economic force
depends on situational changes in the country's economy that can increase or decrease
the company’s value in domestic or foreign markets. However, the predicted formation
of the context of its economic activity provides the company with the ability to succeed
in such economic situations that are not yet come, but successfully may be fulfilled.
Based on the experience of well-known world companies [20], authors propose to form
the context of the economic activity of the investigated companies on the basis of two
stages. The first stage, the assessment of the economic environment influence on the
company’s activity, is carried out by using such methods as the method of determining
the degree of influence of factors of the economic environment on the company’s
activities, the SWOT-method, the method of forecasting of strategic changes in the
components of the company’s economic environment, and the method of identifying
the potential of internal capabilities of enterprises and companies. The second stage, an
assessment of the strategic adaptation of the company, is carried out by using the
method of determining the strategic adaptation of the company. Thus, the results of the
process of assessing the impact of the economic environment on the company’s
activities and the process of assessing its strategic adaptation can form the context of
the company’s economic activity within its framework.
The ultimate goal of company’s economic environment forming is to determine its
effective strategic position in conditions emergent influence of external factors, for the
visual representation of the situation, thus the authors have chosen precisely such like
mathematical models that take into account the plurality and uncertainty of the
environment. As a result of the combination of semi-logarithmic dependence on the
theory of sets, the authors formed the model of company’s economic activity context
that became the basis for choosing a strategic position under the conditions of the
emergent environment.
The proposed model takes the first stage of elaboration and has a theoretical-
methodological character. In authors idea the model of company’s economic activity
context implementation implies the following stages:
1. Conceptual justification of model’s necessity in conditions of company’s emergent
economic environment.
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2. Analysis of current indicators of existing corporative strategies of vertically
integrated Ukrainian industrial companies.
3. Comparative analysis of current and predictable indicators company’s economic
environment conjuncture and justification of its percentage proportion influenced by
emergent factors.
4. Elaboration of alternative companies’ corporative strategies and effective strategic
position choice considering influence of company’s economic environment factors.
Quite often in the process of economic researches scientists may come across problems
of shortage of results visibility and consequently the level of readers’ perception of
proposed material can be greatly decreased. That is why authors propose one of the
methods of visibility with the help of which the model of company’s economic activity
context can be depicted mathematically in the form of semi-logarithmic dependence of
the duration of company’s strategic adaptation of the economic environment
conjunction. In our opinion, semi-logarithmic dependence gives possibility of a
generalized description of the company’s dependence on the environment in which it
operates and attempts to adapt adequately, developing the appropriate options for a
development strategy. This dependence reveals characteristic changes in the company’s
strategic position during the time with the instability of economic indicators of its
environment [21]. Within the company’s economic activity context it is possible to
trace and predict dynamics of changes in the results of its activities in accordance with
the economic environment conjuncture, the duration of strategic adaptation and other
factor and performance characteristics of the environment, presented in the form of
economic indicators that have direct and indirect influence on company’s activities.
Under the definition of “economic environment conjuncture” [22] authors mean “the
total influence of a number of indicators that are characteristic of a qualitative
description of changes impact in the economic environment on the duration of the
company’s strategic positioning”. In its turn, under the duration of the company’s
strategic positioning, we can understand the time that is necessary for the development
of alternative strategy options.
3.2 Modeling of company’s economic activity context
Authors propose to establish the suitable model of company’s economic activity
context (Fig. 1.) in following form, where main parameters of the model are Y (as a
duration of the alternative strategy formation) and X (as an economic environment
conjuncture).
The model of company’s economic activity context, in accordance with authors’
idea, can be expressed by indirectly proportional semi-logarithmic dependence of
duration of the alternative strategy formation (productive feature of the environment)
from the conjuncture of its economic environment (factor of nature of the environment).
For example, according to this model, the change in the economic environment
conjuncture by 10% compared with its current value will change the duration of the
alternative strategy formation by 15%, and the change in the corresponding indicator
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by 10% in condition of changed economic environment determines changes of the
corresponding indicator by 5%.
Fig. 1. The model of company’s economic activity context.
So, it is important to underline the necessity of depicting economic environment of the
company and its components within company’s economic activity context as vectors
system in accordance with the set theory is quite obvious. And it is the set theory that
reflects multiple opportunities of changeability of unpredictable situations.
It the researching process such parameters of vectors system of companies’
economic environment, as: IE – internal environment, DE – direct environment, EE –
external environment, ME – market environment, EcE – economic environment, where
proposed by the authors.
The obtained vectors system of company’s economic environment is represented
below:
IE a1 ,a2 ,...,a i ,
where i – number of parameters of the internal environment;
DI b1 ,b2 ,..,bd ,
where d – number of parameters of the direct environment;
EE c1 ,c2 ,...,c e ,
where e – number of parameters of the external environment;
ME d1 ,d 2 ,...,d m ,
where m – number of parameters of the market environment;
129
ЕcE f1 , f 2 ,...f ec ,
where ec – number of parameters of the economic environment.
In frame of mathematic modeling the set theory suggests not only vector reflection
data but matrix as well. With the help of matrix it’ll be possible to calculate current and
predictive range of situational data. That is why, the authors have elaborated the matrix
for determining the influence of current and emergent factors on company’s activity.
Consequently, we decided to represent the company’s economic environment
according to set theory by the formula 1, as:
DE m ME
d
e EE m ME
ME EE DE
i IE ec Ec E Ec E IE ME (1)
d DE e E E
c c
e EE ec EcE
m ME ec Ec E
On the basis of set theory we propose to depict economic environment with the help of
Eulerian circles as illustration of our conceptual approach that are shown in Fig. 2.
ЕcE
IE
EE DE
ME
Fig. 2. The scheme of company’s positioning in economic environment context based set
theory.
Taking into consideration authors’ opinion, the proposed model of company’s
economic activity context, based on mathematic models, can be an easy and suitable
way for predicting future changes of company’s economic environment.
3.3 Company’s Positioning in the Economic Environment Context
The essence of the process of choosing company’s strategic position is to find and
specify the strategic direction of development in frame of which managers can develop
a corporate strategy based on the data obtained on the state of the economic
130
environment. Such data include: existing and prospective potential of company, the
level of strategic adaptation, general level of strategic business units’ (SBU) [23]
prospects as well as competitive status and competitive position of company in the
market. In particular, for industrial enterprises, it is proposed to highlight progressive
and regressive directions of strategy development. Progressive directions cover
diversification, integration, and concentration processes, while regressive trends cover
processes of reduction, elimination. The progressive/regressive directions of the
development of company’s industrial strategy is proposed to determine boundaries of
the model of company’s economic activity context (according to its competitive
position) depending on state of factors of economic activity context, in particular, the
economic environment conditions for the period of strategy formation, the level of
strategic potential of success and competitive status.
Effective choice of company’s strategic position or its positioning in the market
space is the key to company’s success in the market. The well-grounded strategic
position allows an entity to occupy an appropriate market position or market niche,
which provides possibility of successful adaptation within the direct environment,
market environment and economic environment as a whole.
The process of company’s positioning in economic environment context, in our
opinion, can be represented in the form of three main processes, such as:
─ formation and evaluation of effectiveness of strategic business units’ (SBU) activity;
─ determination of the strategic success potential of company;
─ estimation of the competitive status.
Company’s positioning in the economic environment context involves the
determination of its location relatively to the competitive position of its competitors.
Such world known consulting companies, as the Boston Advisory Group (1968-1972),
GE/McKinsey & Co (1971-1973), together with General Electric, Arthur D. Little’s
Company (1979-1980), as well as the British- Holland Chemical Company Shell (1975)
have already developed series of classic models of strategic analysis and planning of
corporate activities, these models are based on comprehensive analysis of the economic
environment, creation of future forecasting development models and collaboration of a
number of alternative company’s strategies taking into account environmental
emergency. The economic value and usefulness of applying classical models in the
process of selecting and shaping strategic position of the company lie in the
methodological and mathematical apparatus especially reacted for such lake models,
which provide analysis and processing of strategic information and adoption of
appropriate managerial decisions. Strategic information encompasses processes of the
company’s operation in present and in future in the directions of all possible aspects of
the activities, taking into consideration peculiarities of adaptation in the economic
activity context. The strategic information collected is used by the company’s
management to develop a corporate strategy.
In particular, as the Ukrainian industrial companies are concerned, the authors
propose strategic positioning based on the classical model of strategic analysis and
planning of Shell Directional Policy Matrix (Shell/DPM). The Shell/DPM model, in
our opinion, is quite optimal for determining the company’s competitive position in the
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context of the economic environment due to its orientation towards application in
vertically integrated companies. Vertical integration is widespread in domestic
companies, especially in the brunch of mechanical engineering, because all activities
(business) are based on the leading technological line for the production of the
dominant type (group) of products, which is aimed at only one segment of the market.
In such cases when the company also produces goods for different segments of the
market, its production is carried out by units of one company, i.e., one company
provides operation of several strategic business units.
In conclusion, we can note that in the process of research of proposed topic certain
requirements that should be observed in case of choosing and forming a strategic
position of the company where formulated by the authors. These requirements
encompass the following spheres of managerial activity:
─ formation of a strategic direction on the basis of analysis of the determined goals;
─ establishment of harmonious connection between the chosen strategic direction and
the state of economic environment factors;
─ ensuring a high level of flexibility and adaptability of selected strategic direction in
accordance with the main parameters of the environmental assessment (parameters
of the economic environment modeling and modeling of the company’s competitive
position).
Contemporary situation and current conditions of the Ukrainian economy are rather
specific and complicated, on the one hand, the development of domestic companies is
one of the major and primary tasks of economic development, and on the other hand,
companies are faced with massive pressure of fleeting changes in the legislative
framework and socio-political conditions that destabilize their work and deprive them
of opportunities for successful development. But such like economic situation gives
companies an invaluable experience of practical learning to survive and can force them
to mobilize their opportunities for the development in the context of rapid changes.
Summarizing the diversity of theoretical and practical view points on the topic, we can
conclude that in this particular situation, the proposed model of the company’s
economic activity context provides business with ability to assess the impact of an
incalculable number of the economic environment factors and helps to obtain the most
reliable evaluation of the adaptive capabilities of the company in existed economic
conditions.
4 Conclusions
The mechanism of strategic management of the company provides such conditions of
its functioning that ensure stability of the development and the ability to respond
flexibly to the challenges of the external environment. That is why the variability of the
company’s development should be considered at the level of strategic management,
including the hierarchy of corporate strategy objectives such as ability for adaptation to
predict and reflect unpredictable changes in the economic environment. The proposed
model of company’s economic activity context gives an opportunity to fulfill an
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effective choice of company’s strategic position in conditions of emergent environment
factors and to predict favorable conditions for development and functioning in the
market. It is important to recognize that this model makes it possible to know where the
company has been, where it is now and where it is going to. This is especially valuable
because it provides the company with possibility of more flexible strategic management
as well as stable enduring resistance to adverse impact of the environment.
The problem of effective development of diversified companies is of great
importance, as the positive general economic effect in a particular industry and
economy as a whole can be achieved only through the successful functioning of each
separate structural unit in the integrated international economic system. In its turn, the
high level of instability of the company’s economic environment as an economic
structural unit of dramatically increases the importance of strategic positioning, because
such a process allows to coordinate company’s activities in different functional areas,
mobilize resources and if necessary can direct company to the solution of internal and
external problems. As it can be traced, the effective strategic positioning ensures the
formation of adoptive and flexible context of company’s economic activity in emergent
environment conditions.
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