Enterprise’s innovation development strategy substantiation and its aims

Economic Annals-ХХI: Volume 142, Issue 7-8(1), Pages: 76-79

Citation information:
Zakharkin, O., & Zakharkina, L. (2014). Enterprise’s innovation development strategy substantiation and its aims. Economic Annals-XXI, 7-8(1), 76-79. https://ea21journal.world/index.php/ea-v142-19/

Olexiy Zakharkin
PhD (Economics),
D.Sc. Degree Seeker,
Sumy State University
2 Rimsky-Korsakov Str., Sumy, 40007, Ukraine
zaharkin@ukr.net

Lyudmylа Zakharkina
PhD (Economics),
Senior Lecturer,
Sumy State University
2 Rimsky-Korsakov Str., Sumy, 40007, Ukraine
zaharkina@ukr.net

Enterprise’s innovation development strategy substantiation and its aims

Abstract. Problem. Insufficient elaboration of the strategic approaches to the innovations planning constrains enterprises to implement short-term innovation targets, that are directed, mainly, at the partial improving of manufacturing, but it does not allow usage of its innovation potential. For the present, issues of theoretical and methodological supply of the strategic planning processes of innovation development at the enterprises are still unsolved. Solution of these problems will enable innovative and active enterprises to elaborate the strategy of innovation development more effectively and to correct it in time. Results. In the article, the problems of formation and implementation of the enterprise’s innovation development strategic aims are studied. It was proposed to use the concept «innovation development strategy of the enterprise» and to define it as a set of planning decisions at different levels relative to the balanced system of innovation development directions and distribution of investment resources in the data areas that are aimed at achieving the strategic goals from the top-level goals to competitive, functional and resource ones. It is proved that the strategy of the innovation enterprise development is a complex process with direct and inverse interconnections, including the choice and substantiation of the lower levels (strategic set). In the context of each strategy, the sets of aims, from the upper level aims till the compatible, functional and resource ones, are formed. Conclusion. The combinations of competitive strategies goals developed in accordance to each type of innovation development strategy allow making not one-stage, fragmented decisions, but to create a coherent strategic set of innovation development strategies for the enterprise.

Keywords: Innovation Development of the Enterprise; Strategy; Strategic Set; Strategic Aims of the Highest Level

JEL Classification: D21; L10; O31

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Received 12.06.2014