Theoretical and Methodological Basis for Evaluating a Novelty Portfolio and Its Management Efficiency at Industrial Enterprises, Focused on the International Market

Abstract

The article is aimed at studying the theoretical and methodological foundations of the process of managing and evaluating novelty portfolios at industrial enterprises focused on the international market, as well as at developing recommendations helping to improve their efficiency. The concepts of novelty portfolio (intellectual property portfolio) and innovation portfolio are analyzed, differentiated and further developed. The place and role of the process of novelty portfolio management in ensuring effective international economic activity of an industrial enterprise and its sustainable development are substantiated. A proprietary model for assessing a novelty portfolio and efficiency of its management process at industrial enterprises planning to enter the international market is developed and suggested for use as a basis for ensuring their competitiveness and sustainable development in the context of economy digitalization and the growing number of challenges and threats. Promising research areas on this issue are highlighted, such as developing optimizing programs for novelty portfolios in accordance with the industry specifics; improving the process of forming a novelty portfolio at industrial enterprises through carrying out marketing and patent research as a tool to harmonize stakeholders’ interests; and creating favorable conditions for the implementation of an already formed novelty portfolio by introducing relevant strategies in the activities of industrial enterprises as soon as possible.

Keywords

• efficiency
• industrial enterprises
• international economic activity
• management process
• novelty portfolio