The impact of economic entities’ innovative activity on the indicators of sustainable development of Ukraine

Abstract

The article is devoted to substantiating the impact of innovative activity of business entities on the indicators of sustainable development of Ukraine on the basis of the econometric modeling. It is proposed to consider this impact from the point of view of increasing the country’s gross domestic product (GDP) and the resulting factor of innovation implementations – the volume of innovative products sold. Analytical data from statistical reporting forms of Ukrainian enterprises were used by summarizing the data taken in the forms of statistical observation of the State Statistics Service of Ukraine. The models are developed based on two methodological approaches: a generalizing indicator of efficiency and effectiveness. According to the results of a study conducted by the authors, the most significant impact on the volume of GDP is exerted, in particular: among the performance indicators – the cost of innovation and the number of business entities that have implemented innovations; efficiency – the share of the volume of scientific and scientific and technical works performed in GDP. In contrast to the current models, the proposed ones provide a high level of accuracy in assessing indicators of the macroeconomic state of Ukraine, as a basis for forming an effective state policy of sustainable development. Based on the developed models, the current directions of improving and reforming the innovation ecosystem to increase the scientific potential of Ukraine are identified.

Strategic Planning of the Recreational and Tourism Industry Development: The Ukrainian Evidence

“…Razminiene, 2021;Androniceanu et al, 2021;Skvarciany et al, 2021;Shpak et al, 2021b), the circular economy is based on an integrative approach, which requires analysis of all the relevant factors that can determine changes in the classical linear model of economic growth. From this point of view, a significant contribution to the circular economy is made by several sectors, including the recreational and tourism one, which affects the country's sustainable development (Kozyk et al, 2021), environmental change, improving the quality of life and economic growth (Chenghu, et al, 2021). The strategy of tourism growth in most cases depends on the environmental quality of the destination, the infrastructure of accommodation and related services (Zielinska et al, 2016).…”

Ensuring sustainable development of a region in the strategic period

“…In the study, the business processes of certain development projects of the respective regions were considered as such elements. These elements, unlike those presented in the works of scientists who in this capacity consider various aspects [1][2][3]7], projects [6] and desired results [5], make it possible to combine them into separate portfolios. Such development portfolios are formed in accordance with a specific component of the region due to mutual resource sufficiency of each other.…”

“…In the works listed above, the main emphasis is on assessing and ensuring the stability of a separate region without linking it to national development programs. Research into this area was carried out in work [6], where, on the basis of the developed models, actual directions for improvement and reform of the innovative ecosystem of the region were determined to increase the scientific potential of Ukraine. However, other than innovative projects and components of regional development were neglected in the reported research.…”

Financial Analysis as An Effective Tool for Business Management: Identifying Trends and Optimizing Decisions

“…At the same time, the most optimal approach is to automate specific tasks that can significantly contribute to the achievement of the company's strategic goal. Other challenges to successful digitalization may include an inadequate level of information and technical infrastructure as well as differentiation of the goals of total management digitalization (Kozyk et al, 2021).…”