DOI: https://doi.org/10.32515/2663-1636.2023.9(42).66-82

Strategic Analysis and Prospects for the Development of the Electrical Installation Services Market of Kirovohrad Region

Iryna Zhurylo, Khimich Yuliya

About the Authors

Iryna Zhurylo, Associate Professor, PhD in Economяйфяics (Candidate of Economic Sciences), Associate Professor of the Department of Economics and Entrepreneurship, Central Ukrainian National Technical University, Kropyvnytskyi, Ukraine, ORCID: https://orcid.org/0000-0002-1445-6370, e-mail: zhuriloiv@gmail.com

Khimich Yuliya, магістр, Центральноукраїнський національний технічний університет, м. Кропивницький, Україна, e-mail: u243526@gmail.com

Abstract

The article is devoted to conducting a strategic analysis of the external environment of the functioning of electrical installation enterprises (EIE), as well as to the development, on this basis, of practical recommendations for the formation of strategies for their development. The reliability of power supply systems and the safety of people's lives depend on the quality of work performed by these enterprises. Taking into account the fact that competition in the field of electrical installation services is mainly regional and local in nature, the relevant market of the Kirovohrad region and the city of Kropyvnytskyi was studied. On the basis of a detailed analysis of the sources of each of the selected key industry factors of the external environment (existing and potential competitors, suppliers, consumers), the following were determined: the leading enterprises of the local electrical installation services market and the key factors of their success; the main barriers to entering the industry of potential competitors; factors of quality performance of services and gaining the trust of consumers; directions of related diversification of the electrical installation enterprise; peculiarities of working with suppliers and requirements for the quality of their products. A list of the main competitive advantages of the market leaders of electrical installation services has been established, which include: work experience in this field; positive image among partners and consumers; expanding the share of the market served by the enterprise; execution of a full range of design, testing and electrical installation works and obtaining the appropriate package of permit documentation for this; availability of a modern and effective material and technical base (including certified electrical laboratories), highly qualified management and personnel; use of only high-quality materials in the works; the ability to offer quality services at the best price. The SWOT analysis method, applied on the example of one of the leading enterprises, made it possible to develop a balance of factors of the external and internal environments of EIE, measures to improve the competitive position of this enterprise on the market, to put forward well-founded recommendations for the implementation of a strategy of concentrated growth and a competitive strategy of optimal costs. The presented strategic analysis of the market of electrical installation services and the planned prospects for the further development of one of its leaders can be applied by the participants of this market - electrical installation enterprises to assess their own competitive position, intensify their strategic activities and choose adequate methods of competitive struggle, which, ultimately, will contribute to the development of data enterprises and the industry as a whole.

Keywords

Strategic management, strategic analysis, competitive advantages, electrical installation services market, environmental factors, SWOT analysis, enterprise strategy, competitive strategy

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Copyright (c) 2023 Iryna Zhurylo, Khimich Yuliya