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200 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
MODERN STRATEGIC MANAGEMENT ISSUES 1Lazimov Ilhombek Komil o'g'li, 2Nazarov Nodirjon Namoz o'g'li
1Student of Tashkent institute of finance, 2Teacher of Tashkent financial institute, Department of
«Finance»
https://doi.org/10.5281/zenodo.10144829
Annotation. Modern strategic management issues show the actual problems faced by organizations in today's business environment. These challenges include technological disruption, globalization and international competition, sustainability and environmental responsibility, changing workforce dynamics, data security and privacy, disruptive business models, ethical and social responsibility, agile strategy implementation, customer experience andpersonalization also involves political and regulatory uncertainty.
Keywords: "Uzbekistan-2030 Strategy,", Economic Advancement,Human Development, Environmental Sustainability, Modern Governance, Sovereignty And Security, Digital Transformation, Globalization And International Expansion, Sustainability And Corporate Social Responsibility, Changing Workforce Dynamics.
Annotatsiya. Zamonaviy strategik menejment masalalari tashkilotlarning bugungi ishbilarmonlikmuhitida duch kelayotgan dolzarb muammolarini ko'rsatib beradi. Bu muammolar texnologik uzilishlar, globallashuv va xalqaro raqobat, barqarorlik va ekologik mas'uliyat, o'zgaruvchan ishchi kuchi dinamikasi, ma'lumotlar xavfsizligi va maxfiylik, buzuvchi biznes modellari, axloqiy va ijtimoiy mas'uliyat, tezkor strategiyani amalga oshirish, mijozlar tajribasi va shaxsiylashtirish, shuningdek, siyosiy va tartibga solish noaniqligini o'z ichiga oladi.
Kalit so'zlar: "0'zbekiston-2030" Strategiyasi, Iqtisodiy Taraqqiyot, Inson Taraqqiyoti, Ekologik Barqarorlik, Zamonaviy Boshqaruv, Suverenitet Va Xavfsizlik, Raqamli Transformatsiya, Globallashuv Va Xalqaro Kengayish, Barqarorlik Va Korporativ Ijtimoiy Mas'uliyat, Ishchi Kuchi Dinamikasini O'zgartirish.
Аннотация. Современные вопросы стратегического управления показывают актуальные проблемы, с которыми сталкиваются организации в современной бизнес-среде. Эти проблемы включают в себя технологические прорывы, глобализацию и международную конкуренцию, устойчивость и экологическую ответственность, изменение динамики рабочей силы, безопасность и конфиденциальность данных, прорывные бизнес-модели, этическую и социальную ответственность, реализацию гибкой стратегии, качество обслуживания клиентов и персонализацию, а также предполагают политическую и нормативную неопределенность.
Ключевые слова: Стратегия «Узбекистан-2030», Экономическое развитие, Человеческое развитие, Экологическая устойчивость, Современное управление, Суверенитет и безопасность, Цифровая трансформация, Глобализация и международная экспансия, Устойчивость и корпоративная социальная ответственность, Рабочая сила. Изменение динамики.
Intoduction: First of all, let's get acquainted with the concept of strategic management. Strategic management is the ongoing planning, monitoring, analysis and assessment of all necessities an organization needs to meet its goals and objectives. Changes in business environments will require organizations to constantly assess their strategies for success. The strategic management process helps organizations take stock of their present situation, chalk out strategies, deploy them and analyze the effectiveness of the implemented management strategies.
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
Strategic management strategies consist of five basic strategies and can differ in implementation depending on the surrounding environment. Strategic management applies both to on-premise and mobile platforms. What are the benefits of strategic management? Strategic management is generally thought to have financial and nonfinancial benefits. A strategic management process helps an organization and its leadership to think about and plan for its future existence, fulfilling a chief responsibility of a board of directors. Strategic management sets a direction for the organization and its employees. Unlike once-and-done strategic plans, effective strategic management continuously plans, monitors and tests an organization's activities, resulting in greater operational efficiency, market share and profitability.Strategic management concepts, Strategic management is based around an organization's clear understanding of its mission; its vision for where it wants to be in the future; and the values that will guide its actions.
The process requires a commitment to strategic planning, a subset of business management that involves an organization's ability to set both short- and long-term goals. Strategic planning also includes the planning of strategic decisions, activities and resource allocation needed to achieve those goals. Having a defined process for managing an institution's strategies will help organizations make logical decisions and develop new goals quickly in order to keep pace with evolving technology, market and business conditions. Strategic management can, thus, help an organization gain competitive advantage, improve market share and plan for its future [1]. The popularity of strategic planning peaked in the 1960s with the contributions of Kenneth Andrews (1965) and Igor Ansoff ( 1965) and their rational, analytical strategic planning models. However, experience as early as the 1970s and into the 1980s taught an important lesson in that these prescriptive approaches (Mintzberg, 1990; Mintzberg, Ahlstrand and Lampel, 1998; Mintzberg and Lampel, 1999) to strategic planning are of little practical use in an uncertain environmental context. Mintzberg (1978) made an important insight when he distinguished between the intended and the emergent strategy of the organisation. Later contributions from Ohmae (1982), Peters and Waterman (1982), Mintzberg (1994, 2000), Prahalad and Hamel (1994), Liedtka (1998a, 1998b), Heracleous, (1998) and Markides (2000) have discussed and advanced [2].
Literature Review: Uzbekistan's President Shavkat Mirziyoyev has officially approved the "Uzbekistan-2030 Strategy," signifying a pivotal moment in the nation's ongoing development trajectory. The strategy, which comes as an evolution of the previous "Development Strategy of New Uzbekistan," reflects the country's commitment to building a prosperous, modern, and equitable society. The "Uzbekistan-2030" strategy is a comprehensive plan formulated based on the knowledge and lessons learned from the implementation of the "Development Strategy of New Uzbekistan." It takes into account valuable experiences and insights obtained through public discussions. The strategy is developed within the context of updated constitutional and legal conditions, including a newly adopted version of the Constitution after a referendum on April 30 and presidential elections on July 9. The "Uzbekistan-2030" strategy outlines a long-term vision for Uzbekistan's development, with a focus on achieving sustainable and inclusive growth. It aims to address various socio-economic challenges, improve the business climate, enhance governance, and promote regional integration.
The strategy emphasizes the importance of aligning policies and actions with the updated constitutional and legal framework to ensure coherence and effectiveness. This includes incorporating the provisions and principles of the newly adopted Constitution into the strategic planning and decision-making processes. Furthermore, the strategy reflects the input and perspectives gathered from public discussions, indicating a participatory approach and a
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
commitment to engaging stakeholders in the development process. This ensures that the strategy takes into account the needs, aspirations, and concerns of the population. the "Uzbekistan-2030" strategy serves as a roadmap for the country's development, building on past experiences, incorporating constitutional and legal updates, and considering public input. It sets forth a vision and direction for Uzbekistan's progress, aiming to address key challenges and propel the nation towards sustainable growth and prosperity. The strategy outlines several fundamental principles:
1. Economic Advancement: Uzbekistan aims to ascend to the ranks of upper-middle-income countries by fostering sustainable economic growth. The National Development Strategy (NDS) of Uzbekistan until 2030 was adopted by the authorities in September 2023. It is the third NDS adopted since 2017, with the previous two covering the periods of 2017-2021 and 20222026. The World Bank has been actively supporting the government in implementing these strategies. The NDS until 2030 outlines Uzbekistan's development objectives and key reforms across various sectors to be achieved by the end of the decade. It aims to elevate the country to the status of upper-middle-income countries through sustainable economic development, improve education, healthcare, and social protection systems to meet international standards, and establish an environmentally friendly framework for the well-being of its citizens. The strategy identifies five key areas for progress, including promoting individual self-fulfillment, ensuring the welfare of the population through sustainable economic growth, conserving water resources, protecting the environment, and developing a citizen-centric public administration system. To achieve these objectives, the government has defined 100 priority actions that will be implemented. The successful implementation of the NDS is a central goal for all state agencies in Uzbekistan. The World Bank continues to collaborate with the government to support the realization of Uzbekistan's development goals by 2030. The NDS until 2030 represents Uzbekistan's vision for its future development and outlines specific actions and reforms to be undertaken across various sectors. It emphasizes sustainable economic growth, social welfare, environmental preservation, and citizen-centric governance as key priorities for the country's progress.
2. Human Development: The strategy underscores the creation of robust systems in education, healthcare, and social protection that align with international standards and cater to the needs of the population.
3. Environmental Sustainability: Uzbekistan is committed to establishing favorable environmental conditions for its citizens, highlighting the importance of environmental conservation.
4. Modern Governance: The strategy emphasizes the development of a just and modern state that prioritizes serving the people and upholding their rights.
5. Sovereignty and Security: The strategy underscores the imperative of safeguarding the country's sovereignty and ensuring its security.
6. Five Priority Areas: The "Uzbekistan-2030" strategy is structured around five key priority areas:
7. Individual Potential: Creating conducive conditions for each individual to unlock their full potential.
8. Economic Prosperity: Ensuring the well-being of the population through sustained economic growth.
9. Water Resource Management: Responsible water resource management and environmental protection are central to the strategy.
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
10. Rule of Law and Good Governance: Establishing a legal framework that ensures the rule of law and effective public administration dedicated to serving the citizens.
11. Peace and Security: A continued commitment to a policy of a "safe and peaceful state."[3].
Research methodology. This article was prepared based on the following methods.l.Target indicators of the Strategy "Digital Uzbekistan — 2030" 2. The World Bank in Uzbekistan in 2022 3. Real GDP (US$): Uzbekistan.
Analysis and results. The evolution of modern strategic management has brought about new challenges and issues that organizations need to address. Some of the key modern strategic management issues include:
• Rapid Technological Advancements: The rapid pace of technological advancements presents both opportunities and challenges. Organizations need to stay updated with emerging technologies, such as artificial intelligence, automation, blockchain, and data analytics, and determine how to leverage them effectively to gain a competitive edge. They must also navigate the potential risks associated with cybersecurity, data privacy, and digital disruption.
• Digital Transformation: Digital transformation has become a critical strategic imperative for organizations across industries. It involves reimagining business models, processes, and customer experiences to adapt to the digital age. Organizations need to develop comprehensive digital strategies, build digital capabilities, and foster a digital-first culture to thrive in the digital landscape.
• Agile and Adaptive Strategies: Traditional long-term strategic planning is being replaced by more agile and adaptive approaches. The business environment is becoming increasingly dynamic and unpredictable, requiring organizations to be flexible and responsive to change. Strategic management needs to embrace iterative planning, continuous monitoring, and rapid decision-making to adapt quickly to market shifts and seize emerging opportunities.
• Globalization and International Expansion: Globalization has opened up new markets and increased competition. Organizations are expanding their operations into international markets, forming strategic partnerships, and navigating complex global networks. Strategic management needs to consider cross-cultural dynamics, global supply chains, and regulatory variations to successfully operate in diverse international environments.
• Sustainability and Corporate Social Responsibility (CSR): Environmental sustainability and societal concerns have become integral to strategic management. Organizations are expected to adopt sustainable practices, reduce their environmental footprint, and embrace social responsibility. Strategic management needs to incorporate sustainability as a core part of business strategies, aligning financial performance with environmental and social impact.
• Changing Workforce Dynamics: Workforce dynamics are evolving, driven by factors such as remote work, the gig economy, and multi-generational teams. Strategic management needs to address talent acquisition, retention, and development in a rapidly changing labor market. It involves fostering a culture of inclusivity, promoting diversity, and adapting to the needs and expectations of the workforce.
• Data-Driven Decision Making: The availability of vast amounts of data presents opportunities for organizations to make informed decisions. Strategic management needs to leverage data analytics, artificial intelligence, and machine learning to gather insights, identify
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
trends, and drive evidence-based decision-making. This requires effective data governance, data security, and data literacy within organizations.
• Disruptive Innovation and Industry Disruption: Disruptive technologies and business models are reshaping industries and challenging traditional incumbents. Strategic management needs to anticipate and respond to disruptive forces, whether from startups or established competitors. It involves fostering a culture of innovation, exploring disruptive business models, and actively pursuing partnerships and collaborations.
These are some of the modern strategic management issues that organizations face in today's rapidly evolving business landscape. Organizations need to embrace a proactive and agile approach to strategic management to thrive in the face of these challenges and seize emerging opportunities.
Table 1. Target indicators of the Strategy "Digital Uzbekistan — 2030" [4] Experience of development of digital technologies in Uzbekistan UESF-2023
u Indicator Measurement unit Current statu« Aims by years
2022 2025 2030
1 The length of the fiberoptic communication line network in the republic '0U0 km 41 70 120 250
2 The level of high-speed Internet coverage of the regions of the republic % (il 74 85 1U0
3 The level of high-speed Internet provision of social facilities % 45 100 100 1U0
4 Level of provision of households with broadband Internet access % (il 74 85 1U0
5 The level of provision of settlements with a network of broadband mobile communications % n 100 100 1U0
According to digital transformation: In the near future, the task was set to double the share of digital services in the country's GDP By maintaining stable growth rates of it is planned to reach 4,000 US dollars GDP per capita and join the group of countries with "upper-middle income" by 2030. In this regard, the development of the digital economy is also defined as the main "driver" with an increase in its share by at least 2.5 times by the end of 2026. Moreover, it is planned to expand the volume of the software products industry 5 times, and software export - 10 times, up to 500 million US dollars, the level of digitalization of production and operational processes in the real sector of the economy, in the financial and banking sectors to 70% by the end of 2026. Moreover, digitalization of urban planning and construction, development of cities in accordance with the concept of "Smart City" has been prioritized.
The World Bank in Uzbekistan in 2022 [5]
Uzbekistan 2022
Population million 35.6
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
GDP,current $billion 80.4
GDP per capita, current $ 2.255.6
Life Expectancy at Birth, years 70.9
In September 2023, the authorities ac opted the National Development Strategy of
Uzbekistan (NDS) until 2030. The document outlines the country's primary development objectives and pivotal reforms across various sectors to be realized by the end of this decade. This marks the third NDS that has been adopted by the government since 2017, with the preceding two covering the periods of 2017-2021 and 2022-2026 (the latter is being implemented). The World Bank has actively supported the government in executing these strategies. The NDS until 2030 encapsulates various aspirations of Uzbekistan, including plans to ascend to the ranks of upper-middle-income countries through sustainable economic development, create education, healthcare, and social protection systems that align with international standards, and establish a conducive environmental framework for the well-being of its citizens. The new strategy outlines a set of 100 priority actions that the government will take to advance progress across five key areas. These areas encompass fostering opportunities for individual self-fulfillment, ensuring the welfare of the population through sustainable economic growth, conserving water resources, protecting the environment, and crafting a public administration system that will focus on citizens' needs. The implementation of the NDS has been designated as a key goal for all state agencies. The World Bank remains committed to its collaboration with the government to assist Uzbekistan in realizing its central development objectives by 2030.
Real GDP (US$): Uzbekistan [6]
o
2003 2004 2005 2D№ 2007 200S 2009 2010 2011 2012 2013 2014 2015 20'S 2017 201E 2019 2020 2021 2022
GDP grew by 7.4% in 2021, with a strong recovery in industry and services. Services grew by 9.2%, with industrial output rising by 8.7%. These gains in were helped by growth in construction and agriculture. Consumption also rebounded in 2021, as eased foreign travel restrictions boosted wages and remittances, while government expenditures on social protection, education, and healthcare doubled. Uzbekistan is expected to reach 85.05 USD Billion by the end of 2023, according to Trading Economics global macro models and analysts expectations.
Discussion and conclusion. The "Uzbekistan-2030 Strategy" represents a significant milestone in Uzbekistan's development trajectory, demonstrating the country's dedication to shaping a prosperous and equitable society. The strategy builds upon previous development plans,
0 n 0 Q IMPROVING UZBEKISTAN'S POSITION IN INTERNATIONAL RATINGS L U L O AND INDEXES: THEORY, PRACTICE, AND STRATEGY
incorporating valuable lessons learned and taking into account the updated constitutional and legal framework. By outlining a long-term vision for Uzbekistan's growth and focusing on sustainable and inclusive development, the strategy addresses various socio-economic challenges, aims to improve the business climate, enhance governance, and promote regional integration. It emphasizes the importance of aligning policies with the updated constitutional provisions to ensure coherence and effectiveness. Furthermore, the participatory approach adopted in the strategy reflects Uzbekistan's commitment to engaging stakeholders and incorporating their input and perspectives. By considering the needs, aspirations, and concerns of the population, the strategy strives to be comprehensive and responsive to the country's development requirements. The strategy's fundamental principles, including economic advancement, human development, environmental sustainability, modern governance, and sovereignty and security, provide a robust framework for Uzbekistan's progress. These principles underscore the importance of fostering sustainable economic growth, improving education and healthcare systems, preserving the environment, and ensuring the well-being of the population. As Uzbekistan implements the "Uzbekistan-2030 Strategy," collaboration, knowledge sharing, and partnerships will be crucial. By working together and leveraging expertise from various sectors, Uzbekistan can effectively achieve its development goals. Additionally, organizations in Uzbekistan must embrace proactive and agile approaches to tackle modern strategic management issues, such as technological advancements, digital transformation, sustainability, and innovation,the "Uzbekistan-2030 Strategy" serves as a comprehensive roadmap for Uzbekistan's development, encompassing the aspirations of its people and aiming to propel the country towards sustainable growth and prosperity. With a focus on inclusive and sustainable development, Uzbekistan is well-positioned to overcome challenges and embrace opportunities in the evolving global landscape.
REFERENCES
1. "Definition strategic management" https://www.techtarget.com .
2. "Modern strategic management " https://www.proquest.com .
3. "President Shavkat Mirziyoyev approves 'Uzbekistan-2030'" strategy https://daryo.uz/.
4. Target indicators of the Strategy "Digital Uzbekistan — 2030"Experience of development of digital technologies in Uzbekistan UESF-2023.
5. The World Bank in Uzbekistan in 2022
6. Asia Regional Integration Centerhttps: //aric.adb.org/Uzbekistan
