Structural and Logical Model of the Methodology of Economic Substantiation of Innovative Developments

Abstract

In the article the emphasis has been made on the importance of economic development of Ukraine in context of European integration. The main features of euro economics are determined. It is established that the main trend of economic development is a powerful support for innovative activity in the country. The technique of the analysis of the peculiarities of the economic justification of innovative solutions is worked out. The sequence of procedures that constitute the methodology of economic substantiation of innovations is justified. The attention is focused on the sequence of carrying out relevant calculations, which involves: market analysis, analysis of the level of quality of innovation, the analysis of the competitiveness of the innovation, the cost calculation of innovative solutions, pricing and critical volume of sales, the calculation of operating costs, as well as determining rates of return, margins and profitability development. Also it has been built a logical model of calculation of basic indicators. The results of application of this model have become the basis for management decisions making on the desirability of innovation from the point of view of its technical and economic performance and commercial benefits. The structural and logical model can become the basis for the development of the corresponding software product.