УДК 332.14
DOI: https://doi.org/10.36887/2415-8453-2024-4-23
JEL classification: D20; L21
The article examines forming an innovative strategy for developing an enterprise as an important tool for increasing its profitability. It has been proven that implementing innovative strategies is a key component of the successful development of the enterprise in modern conditions of rapid changes in the external environment and fierce competition. Innovations make it possible to discover new opportunities for creating unique products and optimizing processes, contributing to the company’s competitiveness growth. It was determined that the development strategy should focus on modern challenges and meet the requirements of customers and the market, which, in turn, allows the enterprise to adapt to changes and ensures a stable increase in its competitiveness. The importance of a comprehensive approach to developing an innovative strategy, which includes goals, mission, analysis of internal and external factors, forecasting of market trends, and assessment of resources and capabilities of the enterprise, is substantiated. The step-by-step process of developing an innovative strategy is presented, which involves determining priorities, choosing development directions, and developing tactical and operational measures. It is shown that the innovative strategy directly affects the enterprise’s profitability, providing the possibility of its sustainable development in dynamic market conditions. In addition, it is stated that the innovative development strategy should consider global trends, such as digital transformation, environmental sustainability, and changes in consumer preferences because these factors directly affect the enterprise’s profitability. Enterprises that implement the latest technologies focus on trends, such as digital transformation, environmental sustainability, and changes in consumer preferences, because these factors directly affect the enterprise’s profitability. Enterprises that implement the latest technologies and focus on social responsibility can optimize operational processes, reduce costs, and increase productivity, which is positively reflected in financial indicators. In addition, innovative approaches help strengthen the company’s positive image, contributing to customer loyalty and expanding sales markets. The article emphasizes that a strategic focus on innovation allows the enterprise to adapt to market conditions and proactively shape them, creating new standards of quality and services. This approach helps to increase market share and consolidate leadership positions, which ultimately ensures stable profit growth in the long term.
Keywords: innovation, strategy, innovation strategy, development strategy, profit, enterprise.
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The article was received 05.10.2024