The Expediency of Identifying Strategic Alternatives to the Development of the State's Economic Security System Through SWOT Analysis

Abstract

The outcomes of the conducted research presented in the article will be valuable for managers of all levels involved in strategic planning and management of the modern economy of the state. The article addresses the urgent issue of identifying certain strategic alternatives in the development of the state's economic security system. The analysis of existing threats to the economic security of the state is conducted; the approaches to the definition of economic security are analyzed. The study emphasizes the complex political, social and economic situation in Ukraine due to the difficult situation in eastern Ukraine and the temporary occupation of the Republic of Crimea. It draws attention to the place of Ukraine in the ranking of International organizations and provides information on the main forecast macroeconomic indicators of economic and social development of Ukraine for 2020-2022. It is determined that the economic security of the state is based on self-sufficiency, stability and development of all constituent elements of the economy, and their list is given. The article emphasizes the priority development of the economic security system in the conditions of continuous improvement of the scientific and technical market, constant modernization of production, development of educational institutions, creation of a favorable climate for investment, significant state support of innovative activity. The possibility of using SWOT analysis as a tool for determining strategic alternatives has been investigated and confirmed. The article analyzes information and gives a detailed description of the elements (components) of SWOT analysis. The algorithm of estimation with use of SWOT analysis is graphically presented. The method of carrying out SWOT analysis with corresponding detail of each stage is presented. The study identified and analyzed the advantages and disadvantages of using SWOT analysis in comparison with other methods