Practical aspects of implementation of the strategy of innovative development of the enterprise

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Article

Practical aspects of implementation of the strategy of innovative development of the enterprise

Prodius O.I., PhD. in Economics, associate professor, head of the Department of Management, Odessa National Polytechnic University Odessa, Ukraine

Abstract

The article discusses methodological approaches to the innovative development planning of industrial enterprises in the context of the four poles of strategic management: internal coordination mechanism, incentive procedures, information system, decision-making structure. Based on the example of a industrial enterprise, the mechanisms for administering the process of innovative development strategic planning on a competency basis are analyzed and improved, which recognize the objective nature of integrating knowledge on strategic, innovative and investment management. It is proved that the strategic development of innovative development is a necessary component of the strategic management of an industrial enterprise in modern conditions, which is distinguished by a functional contour and tools. In the implementation of innovation, an analysis of the capabilities of a particular enterprise in terms of ensuring an effective, integrated and operational process of innovation is strictly necessary. These conditions become achievable due to the development of strategic planning and the creation of adaptive organizational structures, turn the innovation process at the enterprise into the main element in the development of the sustainable development strategy of the enterprise.

Key words: strategy, innovation, industrial enterprise, implementation, innovation strategy, management, sustainable development.

The problem statement

The world experience shows that favorable conditions creation for development and increasing efficiency of scientific and innovative activity is a priority task of the state innovation policy in developed countries, as the influence of scientific and technological and innovative spheres on the development and growth of the economic system acquires a decisive importance in modern times. The main mechanism for implementing the strategic goals of the state innovation policy is to stimulate scientific and innovation activity.

In all countries, innovative activities management and high innovational potential are the main factors for sustainable business development, enhancing their economic sustainability and market position. The most important factor of enterprises sustainable development is the high degree of efficiency of economic entities innovative activities, which is impossible without mastering high-tech processes and technologies, staff professionalism, innovative developments implementation in the industry. Innovative activities management promotes more efficient use of the enterprise resources and capabilities, enhances all business processes and provides prerequisites for the flexible response of the organization to the constant changes in the external environment [1-3].

The abovementioned defines the theoretical and practical significance of the problem of forming the sustainable development strategy in the aspect of industrial enterprises innovative activities and indicates the relevance of the study.

Analysis of recent researches and publications. The innovative development problems are reflected in numerous publications by both national and foreign researchers, which is due to the increasing importance of innovation as an important factor in supplying the economic and national security of the country. Among foreign researchers this problem was developed by Y. Shumpeter, B. Tvis, K. Frimen, R. Foster, E. Mensfield, M. Porter, P. Druker, R. Uoterman. Among the national scientists the issues of theoretical and applied aspects of innovation development were studied by V. Aleksandrova, Yu. Bazhal, V. Vasylenko, V. Heiets, V. Hrinov, M. Danko, O. Datsii, V. Denysiuk, S. Illiashenko, N. Krasnokutska, B. Malitskyi, O. Mendrul, S. Onyshko, M. Pashuta, I. Pavlenko, S. Filyppova, L. Fedulova, D. Chervanov and others.

But despite the breadth of innovation problems disclosure, there is still a number of unrevealed issues, especially the issue of the state encouragement to develop the innovative potential of the industry, its effective use in order to create sustainable opportunities for the country to strengthen its competitiveness and ensure a high level of national and economic security in the globalization processes context.

The mentioned scientists' works serve as a fundamental and form the scientific basis of mechanisms and procedures of the enterprises innovative development implementation in the conditions of inclusive economic growth. However, the number of problems in relation to the consideration and effective mechanism introduction of enterprises innovative development implementation in the conditions of inclusive economic growth at the regional level remains incompletely solved, that is why there is a necessity of the detailed research of the proposed problem. These issues importance has led to the topic choice, the goal and our research objectives setting.

The aim of the study is the consideration and clarification of the main aspects of completion and implementation of the enterprise sustainable development strategy on the basis of its innovative activities.

To achieve this goal the following tasks are set and solved: to identify the factors influencing the innovative activity of the enterprise; to consider the main stages of formation of innovative strategy of development of the enterprise; develop recommendations for the formation and implementation of innovation strategy of the enterprise.

The main part

industrial enterprise innovative development

Given the strategic focus of Ukraine on the innovative type of development, the adaptation of enterprises to the new conditions of a market economy and its active reform are closely linked with innovation as a driving force of economic growth. A strategic view of the innovative activity of the enterprise allows to react to changes in time, to launch exactly the technology that will provide a serious advantage and bring a significant improvement in the company's position in the market. Therefore, it is the strategic approach to the functioning of entrepreneurship that turns innovation into activity and a social factor of special importance.

The innovative development of the enterprise is influenced by many factors that promote or hinder the introduction of innovations. In most cases, it is advisable to divide them into two groups: external and internal factors. External factors include factors that affect the innovative development of the enterprise environment. Such factors include: the political situation in the country, the level of economic growth, the availability of external sources of funding, national and international legislation, tax policy, scientific and technological progress in the country, the environmental situation in the country and international environmental security programs, etc. [4-5].

Internal factors are the factors that influence the innovative development within the enterprise. These include: the goals of the organization, aimed at implementing strategic measures; innovative potential of the enterprise; availability of economic security specialists and relevant functional units. However, in the modern literature there are many attempts to systematize and classify the factors influencing the introduction of innovations in the enterprise. Carrying out the innovative development of the enterprise, it is necessary to determine what factors can slow down or accelerate the innovation process. Innovative enterprises need to assess the impact of these factors before deciding on the organization of innovation activities and the implementation of innovations in order to decide on the optimal way and tools for innovative development (Table 1).

Table 1 - Factors influencing the innovative activity of the enterprise

Among the whole set of factors that form an innovation-friendly environment, we can distinguish those that are managed, dependent on the company, and unmanaged, to the influence of which the company must adapt its activities. The most important factors hindering the innovative activity of enterprises controlled by the enterprise are financial security and human resources. They are followed by uncontrolled factors of the first and second levels. This indicates that the success of innovation depends primarily on the company that creates and implements innovations, its owners, managers, professionals, workers and more.

Thus, the development of an innovation development strategy should be based on strategic management decisions, such as future-oriented, constant changes in the environment and associated with the involvement of significant material resources, extensive use of intellectual potential.

The innovative strategy formation involves defining the goals of the enterprise development on the assessment basis of its resource potential, competitive status of the enterprise itself and its products, the economic development cycle, scientific and technological progress tendencies. The innovative strategy formation is the definition of the main

directions of innovative activities development, covering the enterprise potential, its position in the market, the factors influence of the external and internal environment in the conditions of uncertainty.

Management decisions-making on the particular innovative strategy development are different for each organization and are determined not only by the general characteristics, but also by specific factors of a particular organization activities. These features should be taken into account at each stage of the specific innovative strategies formation [5-6].

Based on the assumption that the innovative strategy development and implementation is a sequential process, it is customary to distinguish the stages of the innovative strategy formation and implementation. The number and structure of the innovative strategy development stages process may vary depending on the individual characteristics of the individual enterprise (industry affiliation, size ownership, enterprise management system). For example, the Figure 1 shows the stages of the process of forming and implementing the innovative development strategy relative to an industrial enterprise [3].

Fig. 1 - The main stages of formation of innovative strategy of enterprise development

In organizational and methodological support of this process implementation, it is necessary to form an organizational structure for managing the innovative activities and to compare it with the management structure and the enterprise general management, to form a system of external relations with partners, consumers and other stakeholders.

In terms of content, the strategy of innovative development takes into account the main basic processes in the organization and in its external environment, the possibility of increasing the innovative potential of the organization. Strategy development includes the process of analysis and determination of strategic landmarks in the market, which are adjusted and reflected in the form of various strategic programs and projects. Innovation goal as a component of general strategic goals is the desired result of the enterprise in the form of a certain innovation, which is implemented in a limited time with limited resources and aimed at radical development of the enterprise. Therefore, the definition of innovation goals, which allows you to direct the strategic innovation solution to perform specific tasks related to the activities of the enterprise, should be made with the awareness of management of the internal opportunities presented by the existing innovation potential.

It should be noted that in organizing the transition process to a new strategic position, compliance with two conditions is mandatory: the solution that is fully justified and consistent with the «old» and the new strategic provisions. After the strategic position final change, the process of designing the innovative strategy is repeated. The requirements for a successful innovative strategy are outlined as follows: it should contain clear guidelines and time-frames, be flexible, be supported by organizational design and correlate with an overall corporate strategy. The key to success of an innovative strategy is its continuous improvement.

At present, it is important for the enterprise not only to achieve the objectives in certain areas of its specialization, but also to ensure sustainable development - a key advantage, on the basis of which the most effective use of the enterprise innovative potential and, consequently, its innovative activities successful implementation is possible. An enterprise focused on maximizing the results of the technologies and new products that are being created should develop the staff competencies not only in scientific and technical developments, but also in other areas directly related to the innovations creation and their implementation in the market, such as manufacturing, finance, marketing and customer relationships. In order to these competencies of the enterprise employees will bring the most benefits in the form of perspective and profitable innovative projects, it is necessary not only to hire professionals, train and improve their skills, to effectively manage functional divisions - to maximize the employees' innovative capabilities it is necessary to organize them in formal or informal inter-functional teams, working in which they will be able to combine their efforts, that will lead to the synergy effects and greater efficiency of their innovative activities.

The creation of such teams at the enterprise will solve a number of existing problems, in particular, to coordinate the activities of departments related to innovation, to optimize the interaction of different services of the enterprise and to establish information exchange between them. The strategy of innovative development of the enterprise can be supplemented by a well-known strategy of mergers and acquisitions. It can be used by an enterprise to conquer new markets and expand its impact on those with less risk than other active strategies.

The large industrial enterprise that can combine its production with small-scale manufacturers of similar products, which have smaller, but sometimes quite attractive, market share. Based on well-established production processes and combining the innovative capabilities of subsidiaries with their own, the enterprise could implement them in new outputs.

In order to improve the quality of innovative activities organization of the enterprise, it is necessary to create a separate system of innovations management. This can be done by establishing scientific-technical and research-and-development centre, or, as is currently practiced, the enterprise can actively cooperate with the research university to attract highly qualified specialists or transfer part of the authority to implement the innovative strategy [3-6].

Innovative strategy effective management means, first of all, involvement and close interaction of all services, departments, laboratories and workshops of the given enterprise in order to coordinate innovative activities. The best option is to create a separate structural unit, consisting of experienced employees of the given enterprise and attracted new employees of the relevant qualification, which would be engaged only by organization and coordination of innovative activities.

It is possible to form a successful strategy of sustainable development on the basis of innovative activities by introducing a radically new form of innovative activities organization - an internal risk enterprise, which is often called a venture unit. The problem solution lies in the creation within the organizational structure of the enterprise independent managed units engaged in high-risk radical innovations, financed by a special fund - the production unit budget, which is more interested in innovations. The venture units coordination is performed at the highest level of management on the basis of their activities coordination with the strategic direction of enterprise innovative activities. As practice shows, venture units are more effective to build on the basis of a matrix structure consisting of specialists target groups in various industries.

It should be noted that scientific and technological progress and the requirements of the modern market encourage enterprises to develop and introduce innovations in all fields of activities in order to adapt to the constantly changing conditions of the business environment not only upon storage, but also with increasing competitiveness.

Conclusions

Thus, it is advisable for industrial enterprises to switch to a new integrated system for managing the innovation process as an independent object of management, which implies: creation of top- level enterprise management specialized formations and units in the form of working groups to develop innovative enterprise policies; the allocation of target project teams to develop new products; the formation of venture units and funds to stimulate innovation; Organization of consulting assistance in the field of innovations; creation of special industry laboratories on the problems of mastering new technology.

Best practices of companies indicate that innovation can be managed both centrally and decentrally and occupy various places in the organizational and corporate structure. In many cases, it is advisable to create a unit that fully manages innovation. A special unit in the organizational structure of the company, which is responsible for innovation, allows you to more effectively manage innovation.When carrying out innovative activities, it is strictly necessary to analyze the capabilities of a particular enterprise in terms of ensuring an efficient, integrated and operational process of innovations implementations. These conditions become achievable due to the strategic planning development and the adaptive organizational structures creation that transform the innovative process at the enterprise into a major element in the exploitation of the enterprise sustainable development strategy.

Refernces

1. Bondarenko S.A. Modern principles of formation of the mechanism of innovative development of the industrial enterprise. Bulletin of socio-economic research. 2015. №. 1. № 56. S. 129-136.

2. IlyashenkoS.Yu. Marketing of innovations and innovations in marketing: monograph / S.Yu. Ilyashenko / ed. S.M. Ilyashenko. - Sumy: VTD "University Book", 2008. - 615 p.

3. Concepts of innovative development of entrepreneurship: [Monograph] / For general. ed. Doctor of Economics, Prof. Khrapkina V.V.; National University "Kyiv-Mohyla Academy". Kyiv: Interservice, 2018. 263 p.

4. Filippova S.V. Innovative strategies and innovative technologies / S.V. Filippova, V.A. Saadzhan, V.Y. Vasilieva // Economic Journal of Odessa Polytechnic University. 2018. № 1 (3). Pp. 49-61.

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