The Innovative Development of Business Structures: Essence, Interpretation, Theory and Approaches to Defining

• Main Author: Kotsaha Anastasiia O.
• Format: Article
• Language: English
• Published: Research Centre of Industrial Problems of Development of NAS of Ukraine 2020-05-01
• Series: Bìznes Inform
• Subjects: innovation; innovative development of business structures; innovation activity; innovation potential; management
• Online Access: https://www.business-inform.net/export_pdf/business-inform-2020-5_0-pages-43_55.pdf

The innovative development in today’s world is one of the most important aspects of ensuring the profitability and competitiveness of business structures. The article is aimed at studying the theoretical foundations of innovative development of business structures upon analysis of scientific approaches and innovation theories. The result of the article is the allocation of the main definitions when determining the essential understanding of «innovative development of enterprise: innovative development of enterprises is considered as: search for novelty, development and introduction of new products and services; an aggregate of relationships that arise from the purposeful improvement of economic efficiency, competitiveness, profitability; methods and ways to meet the needs of consumers; materializing the innovation potential; means of economic growth, operation and ways of improvement of enterprises; overall development of both the enterprises themselves and the economy as a whole; result of scientific and technological progress; process of developing the innovation activities of enterprises and the system of influencing factors. As a result of the retro-perspective analysis, 9 scientific approaches and theories regarding the basic provisions of the innovative development process in the enterprise are allocated. It is defined that the innovative development of enterprises is influenced by: external and internal factors, including the introduction of new developments/ideas/technologies/products; status and competitiveness of an enterprise with innovative activity; government regulatory systems; choosing priorities and ways to implement innovations; distribution of innovation potential; capital investment in innovation activity of business structures, etc.