THE INNOVATIVE ACTIVITY OF ENTERPRISES AS A PREREQUISITE FOR SUSTAINABLE ECONOMIC DEVELOPMENT

• Main Authors: Olena Аrefieva, Samira Piletska, Serchii Аrefiev
• Format: Article
• Language: English
• Published: Izdevnieciba “Baltija Publishing” 2018-01-01
• Series: Baltic Journal of Economic Studies
• Subjects: sustainable development; mechanism; innovative activity; factors; compliance; levels of economy; business process
• Online Access: http://www.baltijapublishing.lv/index.php/issue/article/view/325/pdf

In terms of exacerbation of crisis processes in the economy, hindering trends in upgrading technologies are observed, which leads to a certain lag from modern needs for the reproduction of productive forces. In order to solve this problem, it is necessary to consider the innovative activity as a factor and a consequence of hierarchical changes in related levels and fields that allows a researcher to deepen into the selected area and develop it in more detail from the chosen position. The presence of innovative activity leads to technological shifts that are carried out by using technologies of another technological mode. In such conditions, the innovative activity of enterprises, which serves a basis for sustainable development of the economy, is an important component and prerequisite for sustainable economic development. The purpose of the article is to analyse the nature of the innovative activity of enterprises, study issues of providing sustainable economic development by developing a mechanism of innovative activity of an enterprise, taking into account its innovative space. To achieve this purpose, there are the following tasks: to analyse trends in innovative processes and innovative activity of enterprises by corresponding directions; substantiate factors of innovative activity by levels of the economy and determine their effect by components; propose a mechanism of innovative activity by levels of the economy in order to stimulate enterprises to introduce innovations for ensuring increased capacity of activities. Methodology. The methodological basis of the article is methods of scientific cognition, which allow revealing the nature of the innovative activity of enterprises, the main laws of innovative development of the economy, priority ways to ensure their financial firmness. In particular, the following methods are used: analysis and synthesis – when studying the innovative activity of enterprises in 2001–2016; systematization – for revealing factors hindering the innovative activity of enterprises; scientific abstraction – in order to form a theoretical generalization and conclusions. Results. There are substantiated factors of influence on the innovative activity of all economic levels per unit of influence that is proposed to be considered a business process, which stipulate for the operation of the effective mechanism of business process management that contributes to the intensification of the enterprises’ innovative activity. The proposed mechanism of innovative activity by levels of the economy allows forming it aimed at creating an active innovation space, which establishes feedback with the innovative climate, which creates information capabilities for its adaptation to changing conditions of the environment in the aspect of development and introduction of modern innovative equipment. Further research directions are aimed at deepening the interconnection of innovative climate in Ukraine and innovative space and its characteristics, which is an integral component of intensification of innovative activity. Practical implications. Practical implications are related to the possibility of using the proposed mechanism of the increase in innovative activity of enterprises, providing the efficiency of managerial influences when introducing modern technology, and improving the production quality. Value/ originality. Originality lies in the substantiation of relevant factors that influence and determine directions of innovative activity of enterprises, which allow combining the study of active business processes and financial planning and creating information support for compliance.