Abstract

Scientists believe that an innovation-oriented enterprise is a specific type that is characterized by active innovation, creation, production, and sale of innovative products or products. In this study, the functioning of an innovation-oriented enterprise is based on the production of economic activity as the basis of its existence, and the use of innovation is the source and activator of its development. It is reasonable to consider innovation-oriented development as an ideology, a manifestation, and a way of development driven by or directed at innovations. The functioning of enterprises based on innovative productions ensures their self-development. The source of self-development is considered the enterprise's internal activity, and the tools are innovations, innovative changes, knowledge, and experience. For the implementation of self-development, the economic system makes the transition to a new level of functioning in the case of activation of the processes of change, the availability of the ability and interaction with the ecosystem of functioning, and the reproductive mechanism with maximum efficiency innovation. A feature of innovation-oriented enterprises in the production of self-development in functioning is the use of innovations in the development of potential, in updating and applying economic resources to form the ability to develop innovatively. In other words, it is reasonable to consider such an enterprise as a dynamic economic system that develops itself by operating in the process of functioning through innovative production in economic activity. The studied enterprises should have a high degree of functionality. At the same time, we consider a dynamic economic system to be a functional, innovation-oriented enterprise that can develop in the process of functioning and ensure the development of other economic systems along with meso-level institutions, transforming the results of their development for its further economic evolution.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.