Scholarly record
STRATEGIC PROSPECTS FOR GREEN TECHNOLOGY COMPANIES: A CASE STUDY IN LATVIA
Abstract
The fourth industrial revolution is currently underway in the global economy. It affects any company, including those applying green technologies whose main purpose is to reduce climate change, the loss of biodiversity and pollution when performing economic activity. Strategic management of the processes is essential for companies to achieve their main goal in parallel with the efficient use of resources when transitioning to a circular economy. Strategic management improves the company-s ability to solve both environmental and climate change impact problems and to achieve the company's economic activity efficiency. Strategic management provides the company with a vision of the future to make strategic decisions that are aligned with the overall development of the company. A carefully and accurately designed strategy is a basis for effective decision-making. The present research aims to identify strategic prospects for green technology companies in Latvia. The following methods were used to achieve the research aim: monographic, analysis and synthesis, induction and strategic management methods (VRIO, SWOT, M. Fishbein-s model). The research results revealed that the implementation of strategic management and strategic priorities is necessary for the long-term development of any company. It is also essential for the long-term operation and development of green technology companies for climate change solutions and environmental protection.
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