Abstract

In a modern economic environment, standard strategies are ready-made solutions that can be applied both in a ready-made form and modified in accordance with the individual needs of the organization. Innovative business processes have densely entered the strategic management of economic entities. The rapid development of an innovative economy has recently forced absolutely all companies, of any size, to think about a strategy to increase their competitiveness and its further implementation. The article uses research methods: analysis and synthesis, a system-information approach. We analyzed the main advantages of the innovative business, measures aimed at quality management, creating a competitive advantage for the innovative company, and the main approaches to classifying competitive strategies. Recommendations are proposed that the main efforts of the innovative business should be concentrated on identifying strategic goals, the main goal of the organization and the distribution of goals by division. At the same time, the management of the organization must clearly understand the expected result. It was concluded that the analytical approach to strategic development is significantly different from the intuitive management of the organization, the principle of increasing competitiveness is reduced to a marketing company, product management, personnel policy and partnership on flexible terms. Adhering to a strategic plan, the innovative company distributes its efforts to pre-selected industries, products are made specifically to capture individual market segments.

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