Financial resources and organizational culture as determinants for competitive strategy of enterprises

Abstract

Purpose: The aim of this article is to study the scientific approaches for the formation of a competitive strategy of an enterprise through financial resources and organizational culture. Design/Methodology/Approach: We have approached the research using the method of comparison, the method of abstraction, the induction method, the method of systematization, and the method of grouping. The empirical research is based on regression analysis. Findings: Scientific approaches to the essence of “competitive strategy” are arranged in three directions: the action plan, the production of competitive products, and the management solutions. Formation of a competitive strategy is based on the factors of the internal environment and they have been built on the provision of financial autonomy and the skill of building organizational culture. Practical Implications: An important indicator of the effectiveness of financial resources is the assessment of the company’s competitive potential. We propose the most promising methods for assessing the competitive environment at the tactical and strategic levels. Originality/Value: The advantages of building an effective organizational culture as part of the enterprise’s development strategy are represented by a set of factors, which can be adopted by an enterprise to improve effectiveness.