 THEORETICAL AND METHODOLOGICAL PRINCIPLES OF FORMATION OF INVESTMENT AND INNOVATION STRATEGY AT THE ENTERPRISEОleksii Zoria () and
Volodymyr Serhienko ()
Three Seas Economic Journal, 2020, vol. 1, issue 3 Abstract: The purpose of the article is to develop and theoretically substantiate the mechanism of formation of investment and innovation strategy of the enterprise in the conditions of institutional transformations. It has been established that future competitiveness is associated with innovation, and for enterprises it is associated with their innovative activity. At the same time, the innovations themselves become objects of investment. Methodology. In the course of the research, scientific methods were used that took into account the laws and regularities of economic theory, agrarian economics, agrarian management, the dialectical and historical approach to scientific knowledge. Results. For enterprises operating in modern conditions, it is advisable to form an investment and innovation cross-functional strategy, which allows to coordinate tasks in the field of innovation and investment in achieving the goals of the overall strategy. The essence of innovation and investment strategy is based on limited resource provision of development processes, taking into account that investments act as an independent source of competitiveness and as a means for innovative development, but must be implemented in a better combination of investment directions. In addition, the investment and innovation strategy allows to provide the necessary cyclical processes of enterprise development in combination with the cyclical nature of the economy for a long period. 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 should 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. Practical implications. The practical significance of the study is that its scientific and theoretical results, proposals, conclusions and generalizations form the scientific basis for solving the problem of formation of investment and innovation strategy of the enterprise in modern conditions. Value/originality. The implementation of the proposed measures will increase the efficiency of enterprises of all sectors of the national economy and ensure the process of formation of investment and innovation development of the economy. Keywords: investment and innovation strategy; development; enterprise; efficiency; mechanism; management (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bal:3seasj:2661-5150:2020:1:3:6 DOI: 10.30525/2661-5150/2020-3-6 Access Statistics for this article Three Seas Economic Journal is currently edited by Anita Jankovska, Managing Editor More articles in Three Seas Economic Journal from Publishing house "Baltija Publishing" |
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