Transformation of innovation activity in modern corporate management

Abstract

Aim. The presented study aims to substantiate the priority directions of corporate innovative activity in modern management in the context of structural digital transformations of the global economic system, which lead to the reformatting of business models of economic entities in the long term.Tasks. To achieve the set aim, the authors comprehensively analyze theoretical and practical approaches to the forms and methods of transformation of innovation management in the modern economy, and propose recommendations on promising directions for the sustainable operation of companies that provide competitive advantages of business in a single network space.Methods. This study uses comprehensive analysis, methods of synthesis, induction, deduction, and expert research using information and communication technologies.Results. In the context of the digital economy, it is necessary to create a flexible organizational structure of companies, since the goal of the top management is not only to increase the capitalization of the business, but also to form an image of the brand using the methods of collaboration, strengthening of horizontal ties, and intellectual capital in the digital space. Modern management is focused on the intensive development of big data technologies and makes allowance for the increased role of precision work with clients, digital marketing, and artificial intelligence. Justification of the IT strategy, correct description of business processes based on cloud computing, BPM and SBPM technologies, and development of open interfaces are key factors for the sustainable operation of innovative companies.Conclusions. The evolution of management under the influence of digital technologies has led to the reformatting of the companies' life cycle. In the long term, economic entities can achieve competitive advantages by developing innovative formats and the geography of customer presence in the network space. Cloud technologies, virtual space, e-commerce, web portals, and automated systems have a great effect on the correction of priorities of predicted scenarios for the development of business structures. Modern management is characterized by an increasing amount of investment of multinational corporations in the segments of technological chains with "mass demand". Internet games, e-commerce, centers for storing and processing information and analytical databases are the priority areas for the development of management. Intellectual capital, collection, storage, and processing speed of an array of statistical data have become a prerequisite for progressive economic growth. The transformation of the organizational forms of traditional business models has influenced the evolution of the role of companies, which are becoming an integral part of the digital ecosystem, since the ownership and processing of information and analytical data make it possible to ensure competitive advantages and to obtain the effect achieved by optimizing network interaction between economic entities. Companies on the core of digital ecosystems are adjusting their long-term development strategy under the influence of integrated management effects in a single network. The reformatting of management has occurred as a result of the development of new organizational forms of value creation within the ecosystem, which has reduced the consequences of external and internal risks of the world market using flexible and innovative forms of interaction between economic entities. In the digital economy, the high adaptability of network coordination and intersectoral interaction in innovation processes based on collective intellectual property has increased the effectiveness of management.