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The Features of the Formation of a Strategy for the Development of Restaurant Business Enterprises
Wang Dongcheng, Krasnonosova O. M.

Wang, Dongcheng., and Krasnonosova, Olena M. (2025) “The Features of the Formation of a Strategy for the Development of Restaurant Business Enterprises.” Business Inform 2:211–220.
https://doi.org/10.32983/2222-4459-2025-2-211-220

Section: Economics of Trade and Services

UDC 338.640.4

Abstract:
Among the current trends in the development of activities in the service sector, one must recognize the desire of retail companies and those expanding their activities in the field of food technologies to build a well-thought-out technological, organizational, and management strategy. The aim of the article is to identify the features of strategy formation for the development of activities of representatives of the restaurant business under conditions of changes in the external environment. The global crisis phenomena that occurred at the beginning of the century for Ukraine and the People's Republic of China had both common features and differences. A shared crisis for the economies of both countries is the COVID-19 pandemic, which had a general global nature, and its consequences have impacted the economies of many countries around the world. The economic crisis in Ukraine in 2014–2022, caused by the aggressive actions of the Russian Federation, which in 2022 was marked by a large-scale military aggression against Ukraine, significantly concerns the economy of Ukraine and practically had no impact on the economy of China. The crisis is not only negative in nature; it also stimulates enterprises to seek new opportunities for development. Instead of destruction and cessation of activities, by correcting organizational and managerial components, an economic entity can prevent negative consequences. It becomes obvious to a significant number of entrepreneurs and scientists that the economic crisis is the most important element of the self-regulation mechanism for economic entities in a market economy. The constant changes occurring in the economy of any country have a significant impact on the strategic decisions of business representatives. The factors associated with such changes can be classified as political, economic, social, technological, and environmental. All these groups of factors must be taken into account during the development of the business development strategy. The development of a strategy for the activities of a representative of the service sector should consider the current financial situation, the availability of potential, the staffing level, existing social and environmental standards, the peculiarities of the company's location, and the financial capabilities of local residents. The subject area for forming the strategy of a restaurant business is to determine the composition and structure of potential visitors. The local population can be identified as the basis of potential consumers of restaurant services. Among the potential negative consequences arising from «unforeseen threats» are: image losses that lead to a loss of innovative potential and defeat to competitors. Accordingly, this can result in the loss of customers or market share and financial losses. The strategy for the development of the activities of representatives of the restaurant business must take into account that all factors of influence operate comprehensively, and therefore, counteracting negative influences should also be comprehensive. The flexible response of the strategic management system to constant external and internal challenges plays a key role in enhancing competitive advantages and the efficiency of the economic activities of the restaurant business entity.

Keywords: strategic management, development strategy, development of entrepreneurial activity, restaurant business, hospitality sector, balance of the strategy for the development of activities, threats, factors influencing the development of activities.

Fig.: 3. Bibl.: 24.

Wang Dongcheng – Postgraduate Student, Department of Management and Business, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]
Krasnonosova Olena M. – Candidate of Sciences (Economics), Associate Professor, Senior Research Fellow, Оffice of Evaluation of Activity of Research Institutions of the NAS of Ukraine, Center for Evaluation of Activity of Research Institutions and Scientific Support of Regional Development of Ukraine NАS of Ukraine (54 Volodymyrska Str., Kyiv, 01030, Ukraine)
Email: [email protected]

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