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

Abstract

Strategy of Innovative Development as an Element to Activate Innovative Activities of Companies

Author(s): Liudmyla Zavidna, Petro M. Makarenko, Ganna Chepurda, Olena Lyzunova, Nadiia Shmygol

Innovative activity becomes a factor determining the strategic success of the company in the market of goods and services, the stability of its development. This research is aimed at analyzing the practice and assessment of the innovative activity of companies with the aim of forming an innovative development strategy. In order to achieve this, the authors compared theoretical opinion with empirical testing methods. In this study, the methods of statistical studies, expert assessments were used, which allowed to determine the system of coefficients for the assessment of innovative activity in justifying the choice of innovative development strategies. The identified results are: (1) the specifics of the strategy of innovative development of a company depends on the profile of its activities, the level of production and technical development, research work on the introduction of innovations, (2) the specific type of innovative strategy depends on the state of the processes of interaction of the enterprise with the external environment and is determined by the innovative activity, (3) the system of indicators for assessing innovative activity must meet the requirements of universality and simplicity for practical use, (4) when forming a system of indicators for assessing innovative activity, resources are analyzed for the current production of innovations in all areas of company activity (production, finance, research and development, marketing, etc.).