Model of Innovative Development of a Modern Enterprise

Abstract

The article explores nature and types of models for enterprise innovative development and presents their comparative analysis. The approach is proposed to build up the innovative model of enterprise development by integrating internal and external environmental factors of the enterprise. The sources of innovative ideas in the context of the internal environment are found at the links of the chain of value creation at the enterprise, as well as within the external environment. The study exposes ways of using advantages of the developed innovative infrastructure for the effective organization of the innovation process at an enterprise. Practical recommendations are made for the enterprises to model and improve their organizational mechanisms of innovation activity aimed at enhancing economic development.

Keywords

• model
• enterprise
• innovative development
• sources of innovative ideas
• mechanisms of innovation activity