The algorithm for selecting new areas of activity for a diversified company within the framework of corporate strategy renewal

Subject. This article discusses the issues of diversification and corporate strategy renewal to maintain the sustainability and profitability of commercial companies. Objectives. The article aims to develop a structured algorithm for selecting new business areas during corporate strategy renewal, emphasizing consumer value, resource availability, and synergy effects. Methods. For the study, I used expert interviewing, content analysis, and decomposition. Results. The article proposes two versions of an algorithm, simplified and detailed ones, and certain tools to assess the key parameters. Practical testing confirms the effectiveness of tools for minimizing risks and optimizing resource costs. Conclusions and Relevance. The proposed algorithm enables companies to systematically identify promising industries, optimize resource allocation, and enhance synergy between new and existing business units. Practical implementation of the methodology can strengthen market positions and support sustainable growth. The study contributes to the development of strategic management theories by providing practical tools for managers operating under conditions of uncertainty and dynamic market changes.