Theoretical and Methodological Fundamentals of Formation and Development of Investment and Innovation Strategy

Abstract

In the article the development and substantiation of theoretical and methodological bases of formation of strategy of investment and innovative development of the enterprises in modern conditions of managing is carried out. It is determined that for enterprises operating in modern conditions, it is advisable to form an investment and innovation strategy, which is cross-functional and allows to agree on tasks in the field of innovation and investment in achieving the goals of the overall strategy. The essence of the innovation and investment strategy is based on the limited resources of development processes, given that investments act as an independent source of competitiveness and as a means of innovative development, but must be implemented in a better combination of investment directions. It is noted that the investment and innovation strategy must have a structural integrity in terms of resource use and impact on the enterprise as a whole. This strategy of the enterprise must be consistent with the overall strategy, contribute to the achievement of common goals, strengthen the competitive, financial, technological position of the enterprise, as well as create opportunities for further growth and development. The role of investment and innovation strategy is subordinated to the strategic goals of the enterprise and is transformed depending on the type and objectives of the overall strategy, can range from full focus on creating and implementing innovation to investment in support of current activities and sustainability. It is substantiated that the mechanism of investment and innovation strategy development includes a set of interrelated management tools, the application of which results in an approved investment and innovation strategy, one of the components of which is a list of recommended investment and innovation projects. The mechanism includes the following components: the approach to choosing the type of investment and innovation strategy, the profile of investment and innovation activities used to determine the direction of the pool of projects, which are then assessed for compliance with the criteria of consistency through economic and mathematical model selection of investment and innovation projects.