INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES
The article deals with the peculiarities of formation and implementation of the enterprise development innovation strategy. The research substantiates the demand for adapting innovation processes to modern challenges, including the use of digital platforms and the transition to a corporate or open...
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| Format: | Article |
| Language: | Ukrainian |
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V. N. Karazin Kharkiv National University
2024-06-01
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| Series: | Соціальна економіка |
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| Online Access: | https://periodicals.karazin.ua/soceconom/article/view/24109 |
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| _version_ | 1841550032346546176 |
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| author | Roman Sherstiuk Artem Kozlovskyy |
| author_facet | Roman Sherstiuk Artem Kozlovskyy |
| author_sort | Roman Sherstiuk |
| collection | DOAJ |
| description | The article deals with the peculiarities of formation and implementation of the enterprise development innovation strategy. The research substantiates the demand for adapting innovation processes to modern challenges, including the use of digital platforms and the transition to a corporate or open innovation model. The fundamental principles of an effective enterprise development strategy based on a new management paradigm are highlighted. A new understanding regarding the essence of the category “innovation strategy” is proposed. The conditions for successful implementation of the enterprise innovation strategy are determined: defining the mission, goals and objectives of the enterprise innovation activity; breaking the process into stages and determining the expected results; applying flexible models of the innovation process; developing indicators for objective evaluation of the innovation activity results; improving the innovation culture; identifying and developing creative talents; introducing and implementing innovative initiatives; maintaining customer feedback; inter-organizational cooperation. An algorithm for building inter-organizational cooperation in the innovation activities of enterprises is designed. The experience of developing and applying innovative strategies is highlighted on the example of well-known innovative companies. It is proved that the success of their implementation depends on the concentration of financial, material, informational and intellectual resources in the context of innovation development priorities. It is emphasized that in the process of forming an innovative strategy for the development of enterprises, it is necessary to take into account a number of factors, such as the enterprise’s market position, its technical and technological potential, management system, ethics and business culture, as well as research capabilities. A properly chosen and justified innovation strategy has shown itself to be the key to the successful development of an enterprise in the future. The authors’ research findings and practical recommendations contribute to the effective use of the enterprise’s innovation strategy for the sustainable development of business organizations and their network associations. |
| format | Article |
| id | doaj-art-be2848adebf24c869f6e1fb377ed36ed |
| institution | Kabale University |
| issn | 2524-2547 |
| language | Ukrainian |
| publishDate | 2024-06-01 |
| publisher | V. N. Karazin Kharkiv National University |
| record_format | Article |
| series | Соціальна економіка |
| spelling | doaj-art-be2848adebf24c869f6e1fb377ed36ed2025-01-10T11:16:39ZukrV. N. Karazin Kharkiv National UniversityСоціальна економіка2524-25472024-06-01679110210.26565/2524-2547-2024-67-0924109INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGESRoman Sherstiuk0Artem Kozlovskyy1Ternopil Ivan Pul’uj National Technical University, 56, Ruska str., Ternopil, 46001, UkraineTernopil Ivan Pul’uj National Technical University, 56, Ruska str., Ternopil, 46001, UkraineThe article deals with the peculiarities of formation and implementation of the enterprise development innovation strategy. The research substantiates the demand for adapting innovation processes to modern challenges, including the use of digital platforms and the transition to a corporate or open innovation model. The fundamental principles of an effective enterprise development strategy based on a new management paradigm are highlighted. A new understanding regarding the essence of the category “innovation strategy” is proposed. The conditions for successful implementation of the enterprise innovation strategy are determined: defining the mission, goals and objectives of the enterprise innovation activity; breaking the process into stages and determining the expected results; applying flexible models of the innovation process; developing indicators for objective evaluation of the innovation activity results; improving the innovation culture; identifying and developing creative talents; introducing and implementing innovative initiatives; maintaining customer feedback; inter-organizational cooperation. An algorithm for building inter-organizational cooperation in the innovation activities of enterprises is designed. The experience of developing and applying innovative strategies is highlighted on the example of well-known innovative companies. It is proved that the success of their implementation depends on the concentration of financial, material, informational and intellectual resources in the context of innovation development priorities. It is emphasized that in the process of forming an innovative strategy for the development of enterprises, it is necessary to take into account a number of factors, such as the enterprise’s market position, its technical and technological potential, management system, ethics and business culture, as well as research capabilities. A properly chosen and justified innovation strategy has shown itself to be the key to the successful development of an enterprise in the future. The authors’ research findings and practical recommendations contribute to the effective use of the enterprise’s innovation strategy for the sustainable development of business organizations and their network associations.https://periodicals.karazin.ua/soceconom/article/view/24109enterpriseinnovationinnovation strategyinnovation culturecreative talentsmanagementdevelopmentinter-organizational cooperationeconomic effect |
| spellingShingle | Roman Sherstiuk Artem Kozlovskyy INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES Соціальна економіка enterprise innovation innovation strategy innovation culture creative talents management development inter-organizational cooperation economic effect |
| title | INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES |
| title_full | INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES |
| title_fullStr | INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES |
| title_full_unstemmed | INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES |
| title_short | INNOVATIVE STRATEGIES FOR ENTERPRISES’ DEVELOPMENT IN THE CONDITIONS OF MODERN CHALLENGES |
| title_sort | innovative strategies for enterprises development in the conditions of modern challenges |
| topic | enterprise innovation innovation strategy innovation culture creative talents management development inter-organizational cooperation economic effect |
| url | https://periodicals.karazin.ua/soceconom/article/view/24109 |
| work_keys_str_mv | AT romansherstiuk innovativestrategiesforenterprisesdevelopmentintheconditionsofmodernchallenges AT artemkozlovskyy innovativestrategiesforenterprisesdevelopmentintheconditionsofmodernchallenges |