Formation of innovation policy of the enterprise when entering international markets

Abstract

Innovative processes are the foundation of the current method of management and a means of providing competitive advantages to individual enterprises (firms), industries, regions, countries. Strengthening the innovative orientation of the socio-economic formation of Ukraine seems to be a strategic task of the national financial policy, guidelines for the creation of a competitive state economy. A significant basis for the development of Ukraine’s competitive advantages in the international arena is the innovative activity of industrial production entities. The formation of innovative activities of current enterprises insists on the development of a fresh mechanism of interaction between producers and customers on the basis of coordination of their interests. Creators of innovative ideas and producers of innovative products (services) are obliged to anticipate the need for new goods, to encourage customers to use new technologies and new products in their activities. Therefore, the innovative activity of the enterprise as soon as possible must be used to use an effective tool – innovation management, which involves the use of tools, methods, technologies of management throughout the formation of innovation policy of the enterprise. The current circumstances of highly competitive markets necessitate the renewal and modernization of production technologies, development and production of new competitive products, the application of new approaches to management and organization of production, which can only guarantee investments aimed at innovation. Thus, the object of scientific research in the area of management of innovation investment processes is to identify more flexible opportunities for mobilization of financial resources and improve the mechanism of their direction to innovative development. Since the creation of innovation policy of the enterprise must focus on the market and the consumer, market research should be conducted, which should be preceded by a thorough study of the innovative product.