New service development in the context of organization strategy

Abstract

In order to stand out in a competitive environment, business entities pay lots of attention and resources for shaping a new business strategy or developing an existing one. A well-designed and consistent implemented strategy allows the business entity to achieve new goals, assess progress, distribute the workload evenly and develop an efficient decision-making system. This research is becoming extremely relevant in today’s context when more and more service organizations are growing and constantly offering new job positions. In this case one of the potential business strategies that business entities could take is the development of new services. The concept of strategy by itself is analyzed in accordance with the researches of different authors. The added value of the new services development process for the business entity is evaluated from a strategic point of view. Based on the analysis, the guidelines for further research were formulated. The methods of comparative analysis and synthesis were used.