Academy of Strategic Management Journal (Print ISSN: 1544-1458; Online ISSN: 1939-6104)

Abstract

Strategic Management of Innovation Implementation in the Company

Author(s): Pavlo Hrynko, Olena Kharlamova, Svyatoslav Zavorotnij, Tokhir Turmanov, Dеnys Martyshyn

The article is devoted to the issue of improving strategic management as the number of innovations in the company grows. The original division of stages of development of innovative strategy is proposed. The composition of strategy of introduction and support of innovations in the company is presented. The substantiation and analytical description of the developmental innovation strategies are conducted. Qualitatively and analytically sound strategy is the basis for increasing the competitiveness of the company, creating a strong position in the market and forming conditions for profitable activity in tough market conditions. The problem is that the ability of a company to innovate stems from a combination of tools in a single system: a consistent set of interdependent processes and structures that guide the search for new problems and their solutions, synthesize ideas into business concepts, and choose which projects receive funding, in other words, an innovative strategy. The proposed methodological recommendations allow not only to evaluate the attractiveness of the industry and the innovation potential, but also to see the problems in the field of innovation development, as well as to find solutions to these problems by choosing the right innovation strategy.