Abstract

The economic growth of the national economy, first of all, depends on the level of production development. It is production that forms the basis of the economy of any state. Successful functioning of enterprises in modern economic conditions largely depends on various factors of external and internal environment, as well as on how effectively and purposefully the enterprise is engaged in innovation activities. Growth of economy of any country occurs due to two factors only: accumulation of capital (means of production, raw materials) and deepening of division of labor. The creation and accumulation of capital is carried out by entrepreneurs when they invest part of their profits in means of production, raw materials and inputs. The greater the profit of entrepreneurs, the more they invest in the creation of new capital. The development and implementation of innovations at the enterprise should contribute to the growth of the technical and technological base of the enterprise, which is a part of the production capital materialized in buildings, structures, machinery, equipment and other means of labor, which are repeatedly used in production, transferring their value to the finished product. Manufacturing, services, transportation, and even agriculture are using an increasingly wide range of digital technologies. The underlying technologies and processes have far-reaching implications for the organization of work, production and commerce, reinforcing the existing organizational and geographic dispersion of knowledge-intensive production functions and occupational groups. Companies using digital technologies can improve the efficiency of their organizations and gain opportunities to access and serve consumers more easily, accelerate product development, and create new goods and services at lower costs without the need for extensive systems-level expertise or in-house IT staff.

Full Text
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