INNOVATION-ORIENTED STRATEGY FOR INCREASING THE COMPETITIVENESS OF FOOD INDUSTRY ENTERPRISES

Abstract

The development and implementation of an innovation-oriented strategy are essential for solving the problem of ensuring a consistently high competitive position of food industry enterprises. Taking this into account, they are faced with the need to choose the right strategy for increasing competitiveness, which should be based on using innovative and investment approaches to determine the development vector. The article aims to substantiate approaches to the choice of an innovation-oriented strategy for increasing the competitiveness of food industry enterprises. The research results obtained in the report are based on economic and systemic methods, methods of strategic analysis, and systematic and logical approaches. The article discusses approaches to developing and implementing an innovation-oriented strategy for increasing the competitiveness of food industry enterprises. The model of such a strategy, in general, should provide for the use of a systematic approach and hierarchical subordination of strategic goals, priorities, and objectives of the strategic plan. It has been substantiated that combining competitive and innovative aspects of development into a single concept provides for modifying basic strategies for a food company. The presence of a wide range of alternatives has been revealed, necessitating the development of systems that allow considering the formation of the strategy of food industry enterprises from two positions: the competitive position of the enterprise in the market and the level of development of its innovative potential. Based on the modification of the McKinsey / General Electric model, various combinations of the competitive position of food industry enterprises and their creative capabilities were obtained. The matrix method made it possible to identify alternative options for an innovation-oriented strategy for increasing competitiveness, depending on the positioning of individual subsectors for a different combination of these characteristics. The positions of individual subsectors of the food industry have been established to develop recommendations for choosing the optimal strategy option. Keywords: competitive potential, competitiveness, innovation potential, strategy, food industry enterprises.