Strategy means the choice of the company’s development paths, markets, methods of competition and doing business.
The process of developing and implementing the strategy consists of five interrelated tasks:
Formation of a strategic vision for the future of the company. In other words, determining the long-term development prospects, formulating the future image of the company and the goals of the organization; Goal setting; translation of the strategic vision into a practical plane; Strategy development; Implementation of the strategy; Evaluation of results and adjustment of the strategic vision, global goals, strategy and its implementation, taking into account the experience gained, changed conditions, the emergence of new ideas and opportunities [15 p.35].