MODERN BUSINESS PLANNING: PROSPECTS AND DEVELOPMENT IN UKRAINE

Анотація

This article examines business planning as a vital instrument for fostering modern entrepreneurship amidst dynamic market changes and heightened competition. It substantiates the growing importance of strategic planning in enterprise management, emphasising the need to use business planning to ensure long-term sustainability, effective functioning, and competitiveness. The essence of a business plan is revealed to be a document that defines an enterprise's goals and objectives, forms a development strategy and outlines expected results and how to achieve them. This text presents the author's vision of the structure and classification of business plans, based on the generalisation of domestic and international practical experience. In light of Ukraine's integration into the European market, the necessity of formulating business plans that adhere to international standards becomes paramount. It is imperative to acknowledge the significance of the interrelation between business planning and management decision-making processes. A comprehensive analysis is necessitated to evaluate the enterprise's internal potential and external factors, encompassing market trends, technological advancements, transformations in the legislative sphere, and the evolution of consumer needs. It is emphasised that failing to consider these aspects can result in the loss of competitive advantages, operational inefficiency, and financial instability. The article outlines the most common approaches to developing business plans and offers practical recommendations to improve the preparation methodology, increase implementation efficiency and strengthen the strategic focus of management decisions. It is important to note that effective business planning is based on the principles of validity, flexibility, consistency and compliance with modern challenges of the business environment. It is concluded that business planning constitutes an integral element of the successful development of an enterprise in the conditions of a modern economy. Such planning requires an integrated approach, including market analysis, assessment of internal resources, forecasting prospects and monitoring the achievement of set goals.