DIRECTIONS OF INNOVATIVE DEVELOPMENT OF ENTERPRISES

Keywords: innovative development, enterprise, directions, stages, internal environment, external environment, factors, integral assessment, economic efficiency

Abstract

The article substantiates that in conditions of economic uncertainty and constant technological changes it is extremely important to develop a rational scheme for choosing directions of innovative development, which would combine a strategic vision, assessment of available resources, as well as external challenges and opportunities. An algorithm for choosing the direction of innovative development of an enterprise is proposed and it is determined that it should be based on multifactor analysis and a logically structured scheme. The stages of choosing the direction of innovative development of an enterprise are the following: diagnostics of the internal environment, analysis of the external environment, formation of innovation goals, generation and description of possible directions, multi-criteria assessment of alternatives, selection of the optimal option, development of an implementation plan. The tools of strategic analysis used for diagnostics of the internal environment are disclosed and a method for calculating the integral indicator of the internal innovative capacity of the enterprise is proposed. It is motivated that effective tools for analyzing the external environment are PESTEL analysis and market analysis, and it is also recommended to use the external influence index. For the purpose of more in-depth analysis, the use of a factor influence matrix is proposed. It is argued that the definition of innovation goals allows for the formulation of strategic guidelines for innovation activity, and the generation and description of possible directions – innovative ideas and projects with the potential for implementation. A generalized scheme of the logic of choosing an innovation direction and a matrix for assessing the directions of innovative development of an enterprise are presented. Each direction of innovation activity was evaluated according to four main criteria: compliance with the enterprise strategy, the level of resource provision, the expected economic efficiency, the level of risk. According to the calculations, the direction of implementing IT solutions received the highest integral assessment.

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Published
2025-06-30
How to Cite
Dragan, O., & Karpa, M. (2025). DIRECTIONS OF INNOVATIVE DEVELOPMENT OF ENTERPRISES. Kyiv Economic Scientific Journal, (10), 51-55. https://doi.org/10.32782/2786-765X/2025-10-7
Section
SCIENTIFIC ARTICLES