Scientific Approach to Determining the Vectors of Innovative Development of Industrial Enterprises

Abstract

The purpose of the paper is to form a scientific and methodological approach to determining the vectors of innovative development of industrial enterprises as a tool for establishing the trajectory of innovation in terms of development of innovation potential and environmental impact. Correlation analysis of these factors as indicators of external (external environment of the enterprise) and internal (innovative potential) environment based on the nature and direction of influences allows to establish the vector of development, and the construction of a forecast model of economic results confirms its correctness. Methodology. The research used its own methodological developments, correlation analysis, formed the parameters of the external environment, innovation potential, the results of enterprises. The approach was tested at the enterprises of the pulp and paper industry of Ukraine, which proved its effectiveness and efficiency. Results. The ideology of the proposed approach on the combination of organizational and managerial aspects of innovative development with economic indicators is formed and substantiated. The types of target innovation orientation of the enterprise, which is formed into a bipolar matrix, are determined. Based on the corresponding trajectory of the transition between the components of the matrix, three key vectors of development are formed: innovation-adaptive, innovation-balanced, innovation-concentrated. Practical implications. On the example of enterprises of the pulp and paper industry their vectors of development, forecast indicators of profit and sales revenues as an economic effect of following the vector direction and the trajectory of innovation are designed. Value/originality. The developed scientific and methodological approach involves the establishment of the vector of innovative development of the enterprise on the interdependence of innovation potential and the nature of the impact of the external environment, which provides an opportunity to predict the results of its operation.

Innonative Management Vectors

“…O. Mandych and his co-authors form theoretical-methodical and practical recommendations regarding innovative development vectors of reengineering business processes and strategic management of enterprises [8]. Dunska A., Boyarynova K. and M. Kravchenko analyze the advantages of scientific search for determining of innovative development of enterprises [4].…”