Regulation of Innovative Processes at the Enterprise in a Competitive Environment

Abstract

Purpose: The objective of the study is to determine the importance of innovation factor in enhancing the competitiveness of enterprises and the necessity of transition of domestic enterprises to an innovative way of development, as well as the regulation of innovation processes in the enterprise in a competitive environment. Design / Methodology / Approach: To achieve the aim of the study, the following scientific methods were used: analysis, synthesis and comparison. Findings: The essence of the regulation of innovation processes at the enterprise in a competitive environment was revealed. It was researched that the revival of investment and business activity in the context of regions had a positive impact on the innovative sphere. All these factors have appreciably improved the innovative environment and provided effective stimulation of the innovative development. Note that foreign and domestic experience has shown that it is the state that has the exclusive role of regulation and stimulation of innovative activity in the enterprise. As it has a powerful influence on innovative process by means of economic methods of direct and indirect action for the purpose of support of competitiveness of innovative production of the enterprises. Originality / Value: The research of motivation of creation of enterprises with foreign investment focused on attraction of advanced technics and technology to the country with such short-term effect as receipt of currency proceeds was further developed. The study showed that enterprises with foreign investment cannot solve the problem of currency deficit in the state, but the creation of conditions for attracting advanced technics and technology to the country is the basis for the implementation of a number of urgent tasks of economic and social development of the country. For this purpose, it is necessary to provide additional benefits to priority basic industries, determining the development of scientific and technological progress in Ukraine and the creation of favorable conditions for the inflow of innovative capital of foreign investors, which will have a positive impact on the development of the Ukrainian economy. Practical Meaning: It is proved that innovation management at Ukrainian enterprises requires formalisation of innovation and investment activity on the basis of production factors and national wealth. Therefore, it is necessary to modernise the methods of assessment of innovation projects, taking into account the latest experience of innovation activity, with the development of basic analytical procedures and determination of the scope of their rational use. Further Research: Development of a mechanism for regulating innovation processes at the enterprise in a competitive environment.