Analysis of the image component of an enterprise within the framework of sustainable development

Abstract

A positive image component is a crucial and complex element in shaping an enterprise`s competitive standing, serving as a prerequisite for reliable, stable, and successful performance under market conditions aligned with the principles of sustainable development. Consequently, the formation and modelling of an enterprise`s image is a multifaceted task that requires thorough research and analysis. This study aimed to examine the image component of an enterprise`s business system in the context of sustainable development. The research utilised statistical data the relevant industry and the financial and operational results of the enterprise under study. The methods applied included both quantitative and qualitative analysis, comparative analysis, statistical methods, economic modelling, absolute and relative difference methods, deterministic factor analysis techniques, and graphical methods. The study substantiated the need for a comprehensive approach to image assessment, combining qualitative and quantitative analysis of micro- and macro-environmental factors. The authors proposed a systematic and integrated algorithm for determining the level of a company`s image. A positive image component is a highly important and complex factor in shaping the competitive standing of a modern business entity. This is particularly relevant in the context of escalating economic and political challenges within the country and the uncertainty of the external environment. Such conditions often lead to hesitation among enterprise managers regarding the future development of the brand and its ability to compete in new markets. As a result, the enterprise`s development, competitiveness, and overall image may be significantly affected. The application of a systematic and integrated approach to assessing the image component of an enterprise`s competitiveness enables the modelling of its competitive position in the market by managing financial and economic indicators and market value. The research findings may be used by managers of various enterprises to enhance the effectiveness of competitiveness management in their own businesses