PRINCIPLES OF DEVELOPMENT OF TOOLS FOR MANAGEMENT OF THE PORTFOLIO OF INTERNATIONAL BUSINESS PROJECTS OF ENTERPRISES
Abstract
The identification and adherence to principles in the development of portfolio management tools for international business projects are important because they ensure a systematic approach to effectively managing projects in complex and dynamic international environments. Based on the consideration of the key principles of portfolio management of international business projects, it is argued that each of these principles plays a crucial role in ensuring the effectiveness and adaptability of enterprises in a dynamic international business environment. It is demonstrated that global vision and local execution enable companies to effectively adapt global strategies to local conditions, thus ensuring competitive advantage and alignment with the cultural and economic specifics of different markets. Integration and coordination are critical for optimizing resources and managing dependencies between projects, leading to increased efficiency and cost reduction. It is argued that flexibility and scalability are important for enabling rapid adaptation to market changes and expanding operations without significant obstacles. Risk management, as shown, is essential for identifying and minimizing potential threats, ensuring the stability and reliability of the business. Stability and accountability help enterprises secure long-term acceptance and support from stakeholders by paying attention to the environmental and social aspects of their activities. Technological integration enhances productivity and efficiency through the implementation of advanced IT solutions. Cross-cultural communication and leadership, as demonstrated, play a key role in conducting business at the international level, ensuring mutual understanding and effective leadership in a diverse environment. Finally, strategic planning and monitoring are necessary to ensure the ability of the enterprise to achieve its long-term goals, respond to changes in external conditions, and optimize its activities in response to acquired data. Thus, the comprehensive application of these principles contributes to successful portfolio management of international business projects, ensuring resilience, adaptability, and competitiveness of enterprises in the global business environment.
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