Rationale for the Selection of the Enterprise’s Innovation Development Strategy
Journal Title: Экономика строительства и городского хозяйства - Year 2017, Vol 13, Issue 2
Abstract
The article considers the economic essence of strategic management of innovative development of the enterprise, which includes three components: elemental, functional and process. The principles that should be followed in the process of strategic management of innovation development are specified. It is established that any strategic measures taken by the enterprise are innovative in nature, since they are somehow based on innovations. Due to the individual characteristics of each enterprise, there is no single universal innovation strategy, nor is it strategic management for all enterprises, which requires consideration of certain factors, such as: market position, labor potential, risk, financial opportunities, etc. The possibilities for innovative development of an enterprise depend on first of all from its innovative potential, based on the results of the assessment of which the economic entity can choose one of the three strategies within the innovation path: in Individual strategy (high potential); innovation-integration strategy (medium potential) and borrowing strategy (low potential). The innovation potential of SE «Autobahns of Donbas» is analyzed and the strategy of its further innovative development is justified.
Authors and Affiliations
Victoria Goroshchenko
Keywords
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