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Economic strategy of diversification of enterprise activities under conditions of globalization

Author

Listed:
  • Mergul Chemirbayeva

    (Narxoz University, Kazakhstan)

  • Zhanat Malgarayeva

    (Narxoz University, Kazakhstan)

  • Almagul Azamatova

    (Narxoz University, Kazakhstan)

Abstract

In modern conditions of globalization and economic integration, increased competition, instability of consumer demand, enterprises in order to ensure financial and economic stability and reduce commercial risks need to use modern development strategies and models of interaction with other market participants, which, in turn, requires improved management, mainly based on the priority of the production diversification strategy, since the diversification process is innovative, causing the use of systemic techniques and technologies of a new type, a new organization of labor and production. The article is devoted to the analysis of the economic strategy for diversifying the activities of light industry enterprises based on the implementation of innovative approaches to management, including organizational design, project management, costs, human capital, etc. The article shows that today there is no single strategy that can be used to ensure optimized performance and achieved competitive product prices.

Suggested Citation

  • Mergul Chemirbayeva & Zhanat Malgarayeva & Almagul Azamatova, 2020. "Economic strategy of diversification of enterprise activities under conditions of globalization," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(2), pages 1083-1102, December.
    • Handle: RePEc:ssi:jouesi:v:8:y:2020:i:2:p:1083-1102
    DOI: 10.9770/jesi.2020.8.2(65)
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    References listed on IDEAS

    as
    1. Francesca Mazzoni, 2020. "Circular economy and eco-innovation in Italian industrial clusters. Best practices from Prato textile cluster," Post-Print hal-03271849, HAL.
    2. Francesca Mazzoni, 2020. "Circular economy and eco-innovation in Italian industrial clusters. Best practices from Prato textile cluster," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 2(3), pages 661-676, September.
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    More about this item

    Keywords

    industry; light industry; cluster analysis; diversification; strategy; globalization; economic conditions; production volume;
    All these keywords.

    JEL classification:

    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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