Innovation as a Direction of Sustainable Development of Agricultural Enterprises

Abstract

AbstractThe current environment for the functioning of agricultural enterprises is marked with a high level of competition and risk. Innovation is the main factor that allows agricultural enterprises to maintain their stability and gain a stronger market position. In assessing the priority areas of business development, the authors analyze the labor productivity achieved in various industries in the Russian Federation and other leading countries. From this point of view, the agro-industrial complex is characterized by the most significant level of lag, which allows us to consider investing in its innovative development as the most evident measure with relatively low risk. Despite the high rate of development of agricultural enterprises, the degree of their dependence on imported resources does not allow speaking of a high degree of food security in the country. The analysis of the state of human resources, their readiness to implement innovations, and the availability of financial resources, advanced technologies, and business models indicates the presence of barriers to the active innovative development of agricultural enterprises. To overcome these barriers, it is necessary to form a strategy for developing enterprises focused on innovative priorities. Moreover, it is necessary to conduct a wide search for new ideas. Additionally, it is critical to use an organizational structure that allows for flexible responses to changes in the business environment. Finally, the innovative development of agricultural enterprises can be activated by introducing a corporate culture reflecting the company’s desire to seek innovative business ideas constantly.KeywordsInnovationsAgricultural enterprisesInvestment projectsDigitalization of businessJEL ClassificationO13L66