INNOVATIVE POTENTIAL AND ECONOMIC SECURITY OF THE ENTERPRISE: IDENTIFICATION OF RELATIONSHIPS

Abstract

The article focuses on the issues of innovative development and ensuring the economic security of enterprises. If innovative development serves as a factor in strengthening competitiveness, increasing efficiency and long-term functioning of business entities, then economic security determines the parameters of stability, overcoming difficulties, challenges and threats, guaranteeing the survival and viability of economic entities. It is shown that the indicated economic categories, as objects of management, are both different and sufficiently interconnected. This is both the relevance and the highly applied nature of research that provides a combination of innovative development processes and guaranteeing the economic security of the enterprise. Therefore, the purpose of the study was to substantiate the theoretical-methodical and scientific-applied provisions for identifying the relationships between the innovative potential and the economic security of the enterprise. The relevant relationships are defined in the publication, and also developed a number of recommendations for the top management of business entities in terms of activating the processes of innovative development while simultaneously guaranteeing the economic security of enterprises. It has been established that the innovative potential of the enterprise should be interpreted as its ability to ensure uninterrupted, highly effective development, creation, testing and implementation of all types of innovations in order to strengthen competitiveness, realize the production, economic and resource potential of the business, as well as planned stable growth and development of the business, expansion and capitalization. It is proved that in the process of formation and implementation of the policy of realizing the innovative potential of the enterprise, a high level of economic security of the enterprise should be guaranteed. This task requires coordination of the tasks of ensuring innovative progress and guaranteeing business security. The corresponding tasks are united around the structural components of the innovative potential, which are intellectual-personnel, material-technical, technical-technological, scientific-research, financial-investment, infrastructural, organizational-management, institutional-legal. It is substantiated that it is in these directions that the goals, tasks and measures that will be implemented at the enterprise should be determined in order to rationally coordinate the policy on innovative and technological progress and guarantee the economic security of business.