Improvement of methodological approaches to determining an enterprise development strategy by the method of SPACE analysis

The subject of the research is a methodological toolkit for assessing the strategic position of an
enterprise to substantiate the choice of strategies for its development.
The purpose of the article is to improve the methodological approaches to the strategic assessment
of an enterprise using the SPACE method by developing an algorithm for its implementation using
confidence intervals.
Research methods. The research carried out is based on the use of general scientific methods
of analysis and synthesis, comparison and generalization of data. In particular, the article uses the
method of SPACE analysis using deterministic numbers and in the format of confidence intervals, the
method of expert estimates and the median.
Results of work. It was determined that there is no specific algorithm for calculating confidence
intervals when compling SPACE analysis, therefore, a step–by–step scheme for their determination
was proposed with the possibility of obtaining reliable results and eliminating certain subjectivity when
interviewing experts. Specific criteria for the pharmaceutical industry were elucidated, which are
evaluated within each factor in the SPACE analysis. By testing the improved methodology, the results of
SPACE analysis in the format of deterministic numbers were compared with the results of the SPACE
analysis using confidence intervals. The comparison showed that the use of confidence intervals makes
it possible to carry out a strategic assessment of the state of the pharmaceutical market enterprises
more accurately and reliably, especially with a high level of uncertainty in the external environment.
Scope of the results. The proposed method for assessing the strategic position of a company with
the introduction of confidence intervals can be used to select the optimal development strategy for
companies in any industry. The specific evaluation criteria defined for the pharmaceutical industry are
recommended for enterprises in this industry sector.
Conclusions. When conducting strategic analysis using the SPACE method, it is necessary to use
the format of confidence intervals, the use of which makes it possible to single out not one, but several
relevant strategies for enterprises, applied in accordance with changes in the external environment,
which will ensure a high level of strategic management. The developed algorithm for calculating the
confidence intervals will greatly facilitate the implementation of SPACE analysis in this format.