APPLICATION OF THE PORTFOLIO METHOD OF IMPLEMENTATION OF INNOVATION STRATEGY AT AGRICULTURAL ENTERPRISES

Abstract

Among the factors determining the strategic efficiency of enterprises, the level of innovation implementation, which causes a fundamental renewal of production technology, the release of new types of products, occupies a prominent place. Plans for the development and mastering of innovations are basically aimed at obtaining a new product, new technology or implementing organizational measures that will ensure significant scientific and technical progress in agricultural production. It is important to note that the possibilities of innovative development are determined not only by the financial condition and characteristics of the resource potential enterprises, the level of development of innovative infrastructure in the region, and, above all, existing management methods. The introduction of modern innovative technologies allows for the development of modernization and technical renewal of the basic sectors of the economy, ensuring the country's competitiveness on the world market. Currently, the efficiency of enterprises is determined by strategies aimed at actively using the internal potential of changing the external environment, and not just adaptation to it. Meanwhile, the solution of a complex of innovation problems in corporate structures is ensured only with the active participation of all production and functional divisions of the organization, which also requires the presence of appropriate organizational forms of management of innovation processes and a certain system of relations between all participants of innovation processes. The number of innovative projects in the portfolio in a specific period should depend on their size, which is measured by the total amount of resources required for development and costs for the implementation of one project. The number of innovation projects in the portfolio should be determined by the ratio of the innovation activity budget for a certain period to the average costs per project. Based on this, enterprises need to decide how many innovation projects can be effectively managed at the same time: concentrate efforts on several projects or distribute available resources to a larger number of projects.