Development Of Innovative Processes At Industrial Enterprises

Abstract

This article is aimed at analyzing the development of innovations at industrial enterprises. The experience of developed countries confirms that the winner in the competition is the one who considers the innovative development as the basis of the own activities, and among the main strategic goals, there are development of new products and services. The innovative process is a multi-level system in which each element represents a separate socio-economic aspect of innovations. Businesses that combine deep understanding of their business with the gained experience in the area of innovations are the ones that win customers. That is why businesses are trying to use innovations to improve their competitiveness. The relevance of the chosen topic is determined by the fact that due to the application of digitalization in the market economy, there is a need to rethink approaches to innovations at industrial enterprises. In this regard, special attention should be paid to the essence of elements in the innovative field. The modern activity of enterprises allows using opportunities for applying such innovations, in which existing technologies, products and services of various industries are adapted, and then successfully launched into new areas of the entrepreneurial activity. But there are rules that must be met in the current economic situation. The purpose of the study is to analyze opportunities and profitability of investments into innovations of industrial enterprises.