THE MECHANISM FOR FORMULATING AND SELECTING STRATEGIC ALTERNATIVES FOR THE DEVELOPMENT OF CONSTRUCTION SECTOR ENTERPRISES
DOI:
https://doi.org/10.32782/2413-9971/2026-62-26Keywords:
mechanism, formation, selection, strategic alternatives, development, construction sector enterprisesAbstract
The article develops and substantiates a mechanism for the formation and selection of strategic alternatives for the development of construction sector enterprises, taking into account their strategic capabilities, resource constraints, risks, and current operating conditions. It is emphasized that the formation of strategic alternatives for the development of construction sector enterprises should be viewed as a sequential process of transforming the results of strategic diagnostics into possible directions for the enterprise’s further development. Its effectiveness is determined not only by the number of potential alternatives but, above all, by their alignment with the enterprise’s strategic objectives, available potential, external environment parameters, and an acceptable level of risk. A system of determinants underlying the formation of strategic alternatives for the development of construction sector enterprises is identified. The logic for forming a set of strategic alternatives is proposed. The relationship between the strategic position of an enterprise and the directions for developing strategic alternatives is substantiated. The stages of the mechanism for the formation and selection of strategic alternatives are characterized. It is established that, unlike approaches in which strategy formulation ends with the identification of a general development direction, the proposed mechanism provides for a sequential progression from the identification of strategic opportunities and constraints to the development of a set of alternatives, their screening, the selection of the most appropriate option, and subsequent monitoring of implementation outcomes. A distinctive feature of the proposed approach is that the formation of alternatives and their selection are considered as interrelated but distinct processes. It is concluded that the formation and selection of strategic alternatives for the development of construction sector enterprises should be based on aligning strategic objectives, market opportunities, resource potential, technological and organizational capabilities, and the enterprise’s risk level. It is established that the use of the proposed mechanism creates the prerequisites for the well-grounded identification of priority development directions, the combination of several strategic alternatives, and the timely adjustment of strategic decisions under conditions of uncertainty and structural transformation of the construction sector.
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