ВИБІР ІНВЕСТИЦІЙНОЇ СТРАТЕГІЇ ІННОВАЦІЙНОГО РОЗВИТКУ ПІДПРИЄМСТВА

Abstract

Effective production and economic activities of the enterprise in conditions of limited financial security or lack of own funds must be preceded by the correct choice of investment strategy. Every investor is interested in a quick return on their investment, which puts business leaders in an important strategic choice. Analysis of scientific sources, research of domestic, foreign, and domestic experience, allowed to develop an author's scientific and methodological approach to choosing an investment strategy for innovative development of the enterprise, which, unlike existing, allows you to choose a strategy comparing production, economic, financial activities and capabilities strengths and weaknesses, as well as the external environment through the assessment of market attractiveness. A formalized representation of the proposed scientific and methodological approach is a three-dimensional matrix that allows you to choose the investment strategy for the innovative development of the enterprise based on the comparison of the following criteria: the innovative potential of the enterprise, market attractiveness, investment attractiveness. The choice of partial indicators depends on the form of ownership, industry, and direction of the enterprise, organizational and legal form, goals and objectives, and so on. According to the authors, the proposed criteria make it possible to take into account the interests of three parties when choosing an investment strategy: businesses, consumers, and investors. Synergy in the joint coordination of the interests of many stakeholder groups requires a careful approach of managers to the choice of investment strategy of the enterprise.The proposed approach allows you to choose one of the following investment strategies: conservative (support capacity and several innovative products, maintaining innovative positions), extensive (expansion of existing production, renewal of fixed assets), intensive (intensification and modernization of production, individualization, product differentiation) and aggressive (release of new products, achieving leadership in science and technology).