Bìznes Inform (Nov 2019)
Innovation Strategy as the Basis for the Development of Foreign Economic Activity of Enterprise
Abstract
The article explores different interpretations of the definition of the enterprise’s innovative development strategy. The main problems of forming an effective mechanism for managing the innovation activities of the enterprise’s foreign economic activity (FEA) are researched. A relationship between the innovative development of enterprise with the components of the enterprise’s intellectual capital is determined. It is proved that strategic management is a complex of actions that ensure the development and implementation of the enterprise’s mission, the most important key goals of the organization and the means to achieve them, providing its development in a competitive and unstable external environment. It is identified that the innovation strategy in terms of the enterprise’s FEA in the conditions of a rapidly developing modern market is the basis of its development. The main difference of innovative strategic management is the obligatory presence of novelty, especially for the organization in question, for the market industry, consumers, the country as a whole. In its content, the innovative strategy takes into account the basic processes in the organization and in its external environment, the possibilities of growing the innovative potential of the organization. The conclusion is that each enterprise considers, first of all, the issue of developing its own strategy for managing innovative development. It should take into account the existing resources of the enterprise, facilitate the systemity in the process of developing the most innovative strategy, create the conditions for the organization of innovation management and allow for the formation of an efficient instrumentarium to implement it. The result of the innovative development of the enterprise’s FEA will be positive changes that have an innovative focus.
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