FORMATION OF INVESTMENT MECHANISM FOR ENSURING INNOVATIVE DEVELOPMENT OF THE BUSINESS ENTITY
DOI:
https://doi.org/10.31891/mdes/2023-7-20Keywords:
investment and innovation activity, development, efficiency, activation, justification of management decisions, methodical approaches, invest mechanismAbstract
In the study, attention is updated to the problems of managing the development of processes of ensuring investment and innovation development of economic entities.
The purpose of the study is to improve the theoretical and methodological foundations of the formation and implementation of the mechanism for ensuring the innovative development of economic entities.
It has been proven that the innovative approach is a specific type of strategic management decision-making in the sphere of the functioning and development of enterprises, which allows directing all business processes on the basis of new and more effective methods. It was determined that when applying the innovative way of development of enterprises, it is advisable to take into account a broad classification of types of innovative approach, which includes such features as types of innovative changes, directions of orientation of innovative activity, target orientations for financing innovative business processes, functional areas of innovation implementation, types of innovation policy, methods implementation of innovations.
The applied value of the research results is in the formulation of the conclusion that the effective functioning of the management system for the innovative development of the business entity must be ensured by an investment mechanism, the components of which are a set of subjects, objects, principles, functions, tasks, methods and tools.
The scientific novelty of the research results lies in proving that at the subject-object level of the investment mechanism of innovative development of economic entities, the limits of innovative activity are determined, then management aspects (functions, tasks and principles) are determined, and the implementation of the mechanism at the instrumental level is completed equal to the substantiation of methodological principles and applied tools.
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