INSTITUTIONAL DETERMINANTS OF THE TRANSFORMATION OF ENTERPRISE MANAGEMENT IN THE TRANSITIVE ECONOMIC SYSTEM

Abstract

The article carries out a comprehensive study of the institutional determinants of the transformation of enterprise management in the conditions of a transitional economic system. It is emphasized that the transitional nature of the institutional environment creates both new challenges and opportunities for enterprises operating in conditions of structural changes and global economic transformations. It is substantiated that the adaptation of management models to the conditions of instability requires a rethinking of traditional approaches, in particular in the field of organizational structure, decision-making, corporate culture and interaction with stakeholders. The main institutional barriers are identified, including: institutional uncertainty, asymmetry between formal and informal institutions, high transaction costs, corruption, and imperfection of the legal system. As part of the study, a SWOT analysis of institutional factors that determine the directions of enterprise management transformation was conducted in order to identify strengths and weaknesses, opportunities and threats caused by the transitional nature of the economy. Strategic guidelines for improving management mechanisms are proposed, taking into account the specifics of the institutional environment. Practical recommendations are formulated, including improving institutional and legal support, developing digital competencies of managers, stimulating innovative activity, implementing ESG principles, and strengthening the role of corporate governance. The example of Ukraine as a classic transitional economy shows that effective transformation of management is possible provided that the institutional environment is harmonized, a favorable business climate is formed, and institutional initiatives are supported by the state and civil society. The results obtained have significant potential for further research in the field of institutional economics and strategic management. They can also be used in the process of forming a state policy to support transformation processes at the micro and macro levels.