Scientific paper ID 2070 : 2021/2

Effective business management on a global level sets goals that will lead to the success of companies, which have built their own framework of business strategies. Understanding and accepting a profitable and optimal strategic business framework is of special importance for management. Success is determined by the achieved competitiveness and productivity on the world and national market in the long term of this 21’st century.

To achieve high market results, management should focus on acceptable formulations of complex business strategies to set these productivity goals, which must be clear and focus on:

1. Specific business goals of each strategy. These goals are identified and set in a business and planning strategic framework that takes precedence over other competing business strategies.

2. Mapping (drawing appropriate schemes) of mutual relations and connections between different strategies (for example, which given framework of mutual relations is appropriate), with systems and connections that support other frameworks.

To ensure the strategy of business excellence and improve productivity, it is necessary that the business strategy concretizes the company`s work plan to achieve its vision, prioritize goals, to successfully compete and optimize financial performance, for productivity based on its own business model, etc.

The paper designs steps in the process of developing a strategy for setting goals for the productivity of industrial firms. That job for management is a key issue. Practically, this means, that those actions that give the greatest efficiency in business should be d. This process of strategy development is rational, clear and successful if the strategy plans to take steps for its implementation in the order of performing key activities for each step. In the practice of successful entrepreneurship, this means building a strategy as a formulation that suggests a construction process, which is orderly and systematic and results in data that is final and accurate.