Practical Recommendations for Ensuring the Competitiveness of Business Activities under Unstable Economic Conditions

Abstract

Aim. The presented study aims to provide practical recommendations for ensuring the competitiveness of business activities under unstable economic conditions. Tasks. The authors identify competitivenessreducing factors and propose specific recommendations with due allowance for those factors to ensure the competitiveness of business activities. Methods. This study is based on the dialectical systems approach as well as logical, factorial, and comparative analysis using the theoretical framework of analysis of economic processes. Results. The recommendations proposed by this study are aimed at ensuring competitiveness and address the current state of business structures with a focus on developing their competitive potential in the future, which is crucial under unstable economic conditions. Conclusions. The recommendations proposed by this study can ensure the competitive development of business structures and help them gain an additional competitive edge by improving economic performance, creating favorable conditions, increasing the level of staff competence, and enhancing innovative potential.