Innovation Process as One of the Key Factors in Anti-crisis Management

Abstract

The issues such as the role of the innovation process in the company's anti-crisis management are relevant and important for running a business, maintaining competitiveness and developing a company in times of crisis. Whereas in the context of the globalization of international markets, the system that fails to appreciate the role of innovation potentially faces a tendency to weaken its market position, to lose customers and to reduce its profitability. All this contribute to the emergence of a crisis situation and eventually leads to the collapse of the entire system. Thus, the development of innovative direction is one of the priority directions to reach a new level of development of the company. Moreover, for the development of innovative management in our country, it is important to take the following key steps, such as: creating the infrastructure for scientific research institutions; Promoting investment in innovative enterprises; Improving the legal framework in this regard; Improving the system of tax benefits; Facilitating patent-licensing regulations to disseminate and implement innovations; Establishing a comprehensive risk insurance system in the country; Creating a mechanism for disseminating technological and other type of innovations, etc. Innovative management plays a crucial role in anti-crisis management. During studying the anti-crisis management mechanism, we came to the conclusion that its main basis is the use of innovative forms, methods and techniques. Moreover, the development process does not end with more sophisticated technological decisions, but rather the innovative technology must necessarily go through all the stages of improvement in innovative structures. All these will become the basis for a complex anti-crisis policy that will facilitate the operation of the company in a modern business environment. Keywords: Innovations, Crisis, Anti-crisis Management, Innovative Strategy, Innovative Potential.