COMPANY INNOVATION POLICY AND STRATEGY

Abstract

This report is aimed at clarifying the essence and specifics of company innovation policy and strategy. The two categories are shown as interpersonal and intertwined. Markets and products are the two cornerstones of company policy that binds it to the production and distribution of goods. Its success is conditioned by the introduction of novelties, the upgrading of the assortment and the analysis of the marketing environment. This combines innovation with company policy and strategy. Company innovation policy is a system of management actions for organization, management and insurance of conditions for creation, implementation and successful market realization of innovations. It is a sequence of activities in planning, organizing, developing and introducing novelties by using administrative and economic leverage to maintain a positive innovation potential. The paper also discusses the components and tools of company innovation policy.Each company develops its common strategy, which is a complex program with visions of action on the priority directions of its development. In the sphere of innovation it is connected with the ability to conduct a competitive struggle for the development and implementation of the novelties. The innovative strategy of the company is reflected in its innovation program, which is the basis for implementing the company's innovation policy. The definition of the prospects and the orientations of the strategy and policy for technological innovation and innovation activity is related to the market, production, investment, organizational, social and other spheres of development. They can be grouped into three main strategies: leadership in overall costs; product differentiation; concentration in the field of business. In connection with the elucidation of the essence the subject presents the types of innovation strategies and policy.