Abstract

The current state of world economic development leads to the emergence of new paradigms for innovations and the promotion of knowledge related to economic activity, which necessitates the determination of the parameters in which innovations will impact on the socio-economic functioning and development of individual enterprises as subjects of the development in the knowledge economy. The aim of the research. The purpose of this article is to evaluate the impact of innovativeness on the socio-economic development of enterprises in the conditions of the knowledge economy and to highlight the directions of such influence. The subject of the research is the influence of innovations on the development of the enterprise. The methods of the research. In the researched analysis of literary sources, correlation analysis and generalization were used. The hypothesis of the research: innovations contribute to the socio-economic development of enterprises. The statement of basic materials. The main research material. According to the Global Innovation Index (GII), Ukraine took 55th place among 37 countries with a group of economies with income below 132 economies. The main innovative advantages of Ukraine and weak points are identified. As a result of the correlation analysis of costs for innovations of industrial enterprises and the volumes of net profit of enterprises, it was found that innovations affect the volumes of net profit, however, this is not a key factor, but rather one of the factors of growth of the enterprise's profit. As a result of the correlation analysis of the costs of industrial enterprises for innovation and the volume of enterprises sales, it was determined that innovations contribute to the increase of the volume of sales, and, therefore, the growth of the scale of the enterprise, which, in turn, indicates socio-economic growth. A study of the place in the market of the most innovative enterprises of Ukraine determined that innovations contribute to the increase of capital. The originality and practical significance of the research. The conducted research confirms the need for the development of innovations to increase the company's profitability, strengthen competitive advantages and strengthen its position on the market. Conclusions and perspectives of further research. Innovation provides positive business outcomes, allowing them to have sustainable long-term growth, lower costs and automated work for employees. At the same time, innovation leads to increased costs that businesses incur in training staff to adapt to the innovation, or in other cases where the company has to hire new and skilled employees who can be trained and follow the innovation

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