Economic evaluation features of management effectiveness in the enterprise in the digital transformation context

Abstract

The innovative vector today is a prerequisite for the development of high-tech and high-performance areas of industry, a factor in the competitiveness of enterprises in market conditions under any form of business organization. In the context of the transformation to a digital economy, the innovation process - as an incentive for technological modernization of production, increasing its efficiency and developing new competitive types of products - allows generating relatively high added value. Economic value added from the point of view of corporate finance is a key factor in increasing the market value of a company, which is a generally accepted economic efficiency criterion of the enterprise as a whole. Improving the economic and financial sustainability of an industrial enterprise is considered as a factor in ensuring the economic efficiency of the innovation process. As a criterion of economic efficiency of investments in assets aimed at improving the innovation process in enterprises, in practice, the indicator of economic value added is widely used. This indicator takes into account not only the return on investment, but also the price of attracting finance resources from various sources, which represents a financial component of efficiency that is important for mixed financing in the implementation of large investment projects with limited resources. However, the issue of correctly assessing the effectiveness of enterprise's management in the context of industry's digital transformation has not yet been solved by economic science. The paper reveals the features of the economic analysis of the innovative processes effectiveness in the enterprise, taking into account their specificity. The risks associated with innovative processes, the specifics of the cost structure of innovative production are considered.