The Impact of Innovative Development on the Competitiveness of Enterprises

Abstract

This article examines the impact of innovative development on the competitiveness of enterprises. The current trend of globalization and the spread of innovation has a comprehensive effect on the economic environment. Businesses that are the driving force of the economy must take into account the current conditions of post-industrial society to maintain their position in the market. With the openness of the domestic market, enterprises operate in terms of inclusion in a single economic, information and communication space, which leads to increased competition and the need to ensure adequate to the new reality of approaches to the activities of enterprises. The factors of competitiveness of enterprises that will ensure high efficiency of their work, competitiveness, stable market position and the possibility of development in accordance with the objectives are analyzed. In a competitive environment, stable positions are occupied by enterprises that are able to form a balanced development program, effectively maneuvering the internal factors of competitiveness and adapting to the conditions of external factors. It is noted that innovative development affects both external and internal factors of competitiveness. External factors of competitiveness under the influence of innovative development tend to improve the conditions for entrepreneurs. The application of innovation to the internal factors of innovation competitiveness is an important element of competitive strength.