STRATEGIC IMPERATIVES OF INNOVATIVE ENTREPRENEURSHIP DEVELOPMENT IN THE CONDITIONS OF TURBULENCE

Abstract

Introduction. The civilizational subjectivity of Ukraine in the thirtieth year of independence is marked by the state’s ability to ensure freedom, security and development for all socio-economic actors – citizens, government and enterprises. Among the main factors influencing the efficiency and competitiveness of enterprises, a special place is occupied by the innovative development, which is a determining factor in the near and, apparently, long term. Problem Statement. The issues surrounding the priority of innovative development in entrepreneurship are subject to debate, owing to the essential characteristics of development as a process encompassing both quantitative and qualitative changes, which can yield not only positive but also negative outcomes. Additionally, the severe consequences of military conflict on the economy and the priority of industry recovery further complicate the matter. Purpose. The aim of this research is to develop a conceptual model for managing the innovative development of enterprises, which is based on the creation of a strategic map using a balanced scorecard approach. Materials and Methods. The information base of the study comprises EU framework programs, data from expert surveys of business representatives, as well as national and international regulations. The methodological framework of the study includes methods such as observation and abstraction, concrete and abstract comparative analysis, critical analysis, historical-logical and dialectical analysis and synthesis of socio-economic realities, the axiomatic method, the method of analogy, as well as market reviews and forecasts, and foresight. Results. The strategic analysis of innovative business development amid economic turmoil yields results that are aggregated into a conceptual model for managing the innovative development of enterprises. This model is based on the creation of a long-term strategic map. Conclusions. The developed model has proven to be a practical and effective tool for managing the innovative development of enterprises. The findings of this study will be beneficial to anyone examining the challenging aspects of strategic management in innovative business development within difficult socio-economic conditions.

Keywords

• innovation development
• model
• management
• strategic map
• balanced scorecard