1. Name:. Course Professor’s name University name City,

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Name:
Course
Professor’s name
University name
City, State
Date of submission

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Abstract
The article discusses the main directions of development of strategic management tools
for Great Persons Inc. GPI. The elements of the strategy are characterized: mission, vision,
values and competitive advantages. The comparative characteristic of strategic management
tools from the point of view of operated indicators is given. The use of the balanced scorecard as
a tool for implementing the strategy is justified.
Keywords: strategic management, management tools, balanced scorecard.
Introduction
The inherent attributes of the functioning of modern enterprises in an actively developing
business environment are high dynamism and complexity of economic processes, intensity of
business processes at various levels, and fierce market competition among economic entities.
Under these conditions, long-term development and the achievement of a company's strategic
financial sustainability require competent strategic management. The strategy becomes more
important than ever, regardless of the scope and scale of the company's business (Al-Hosaini,
and Sofian, 2015). The presence of the company's strategy characterizes its understanding by top
management of the direction, intensity, main goal of the organization’s development, the
resources necessary to achieve it, as well as the problems and constraints that need to be
overcome. In the economic literature in the composition of the strategy highlights such elements
as mission, vision, values and competitive advantages.

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Mission (Mission) - is the mission of the company. The mission reflects the specific role that the
organization plans to carry out in society in the long run. Establishing a mission, the manager
determines the scope of the company, as well as the services that it will provide to its customers.
Summary of the process
Vision is a formulation that gives a picture of what the company intends to achieve in a
long-term strategic plan. The most useful way to use an organization’s vision is to define the
long-term goals of the organization as a whole. The vision reflects the future of the organization,
subject to the implementation of the strategy (what it may become in the future). If the
organization does not move forward, does not expand the scope of its competitive horizon, then
in the future it may run the risk of bankruptcy (Cebeci, 2018).
Values (core beliefs shared by members of the organization) and competitive advantages
(qualities and characteristics of the organization that distinguish it from competitors)
complement and clarify the mission and vision, allow you to determine the overall work style
and factors that ensure the development of the company in the chosen direction.
But in the practical implementation of the strategy, it is necessary to formulate more specifically
the tasks of strategic management. Strategy-oriented business is characterized by the fact that
each employee of the company is informed about the strategy, clearly and clearly understands it,
agrees with it, has opportunities for its implementation, and is also responsible for certain areas
of the firm's activity.

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Improving the efficiency of strategic management is the most important task for many business
entities, requiring formalization of goals, continuous monitoring, diagnosis and evaluation of key
performance indicators. The solution of the task is impossible without creating a system of
information and analytical support for managing a company based on a system of indicators.
Indicators are the so-called drivers, guides the implementation of the strategy. In order to
increase the degree of implementation of the strategy, it is not enough to formulate it in the form
of an installation, it is necessary to specify goals more precisely (for example, to increase sales
by 10% over 5 years) with detailed intermediate targets for the period of achievement of the
objectives.
Various management tools operate with indicators that can act as both the initial data and the
results of using the tool.
Comparative characteristics of strategic management tools from the point of view of operated
indicators
Classification of instruments Name of strategic management instruments Characteristics of the
indicators used
Advantages and disadvantages of balanced score card for GPI
Economic analysis tools CVP - analysis, discounted flows, investment analysis,
budgeting, analysis of the production and sale of goods, works, services, etc. Use indicators such

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as profitability, liquidity, turnover, net discounted flow, break-even point, capital productivity,
cost of labor and etc. Strategic analysis tools Correlation and regression analysis, statistical
processing of time series, complex data analysis (Data Envelopment Analysis), the PIMS project
“The Impact of Market Value on Profit”, etc. others. Mathematical analysis tools Matrix
methods, in particular, portfolio analysis, queuing theory, theory of production functions, the
theory of intersectional balance, etc. Use matrices of initial and predicted values, as well as the
“probability of loss of application”, reserves of economic growth, development efficiency
indicators, maximum output Q for each combination of factors of production, balanced
production and distribution of products, final consumption (Garcia, et al, 2016).
Thus, we can conclude that the strategy is achieved using a system of indicators that
formulate the company's goals. Strategic goals (objectives) - specific parameters of the
organization, the achievement of which over a certain long-term period of time is recognized as
real and necessary by the owners and top management of the organization. Due to the increased
complexity of modern business processes, it is obvious that the goal of a company cannot be
determined by one universal indicator. Strategic objectives and related indicators are interrelated
(Cooper, Ezzame and Qu, 2017).
The system of performance indicators is at the heart of all modern concepts of strategic
management that have been developed on the basis of targeted management methods. These
include the Balanced Scorecard developed by R. Kaplan and D. Norton; Value Based
Management (VBM) - management aimed at increasing the value of the company; methodology
tableau de bord, developed and widely used in France.

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In the past few years, a balanced scorecard has become very popular in enterprises in various
business areas (mainly abroad). According to a survey of two hundred successful companies in
more than 20 countries around the world, conducted in 2001 by the British company Business
Intelligence, 57% of surveyed firms use a balanced scorecard (Balanced Scorecard) to manage.
And according to the company Balanced Scorecard Collaborative (founded by D. Norton and R.
Kaplan), at the end of 2002, more than half of the firms in the list of the five hundred largest
firms in the world, which is compiled by the reputable magazine Fortune (Falle, Rauter, Engert,
and Baumgartner, 2016).
The balanced scorecard is a technology of integrated enterprise management, which allows not
only to assess the effectiveness of the organization, but also, according to the author, is one of
the main tools of strategic management. The balanced scorecard helps clarify strategic goals and
defines critical parameters for their achievement.
The process of introducing a balanced scorecard includes the following stages
- Balanced scorecard as a strategic management system
1. Translating the vision of a strategy into a balanced set of strategic goals for an organization —
it is designed to help management formulate a strategy and clarify the strategic goals of an
organization with the identification of critical factors affecting strategic goals.