Approaches to Developing, Fine-Tuning and Implementing a Strategy to Increase Business Profitability

The article presents modern approaches to considering the concept of “business profitability”. The components of business profitability management strategy have been identified. Key business processes that directly and indirectly affect the company's profitability are specified. Basic approaches to managing business profitability have been identified, starting from the “value chain concept”, the Ansoff matrix and ending with the “cost benefit” approach. The economic indicators used in the cost benefit approach are clarified, as well as the stages of the process approach in managing business profitability.