In modern conditions, the innovative development of enterprises puts them more complex tasks, which are aimed at increasing their competitiveness in the target markets; ensuring the required quantity and quality of products for the needs of consumers; social responsibility to consumers. The article analyzes the essence of the concept of "innovation" in accordance with the interpretation of Ya. Schumpeter, who first introduced it. According to research by a well-known scientist, innovation is a source of enterprise development, improvement of its internal processes, attraction of new resources and production factors for the creation of new products, technologies, management methods, marketing tools and more. The innovative process implemented at the enterprise is defined as a set of scientific and technological, technological and organizational changes that occur in the process of innovation implementation; the process of successive transformation of an idea into a product, which passes through the stages of fundamental, applied research, design development, marketing, production, finally, marketing - the process of commercialization of technologies. The types of innovative processes technical, organizational, economic, social, legal, which are realized at the enterprise according to the nature of their influence on the spheres of activity of the enterprises are considered. The dynamics of innovation activity by domestic enterprises is analyzed and problems of innovation activity over the last five years are identified. The expediency of carrying out innovative activity of the enterprises is emphasized. The content of the concept of value innovation as a result of innovative processes implemented at the enterprise has been improved. Value Innovation implies that businesses need to integrate their operating system to provide value for customers, and therefore for themselves. The basic values of innovative market outlook and their role in enterprise development are considered. It is emphasized on the importance of the top management of the enterprise to introduce elements of innovative culture in the enterprise, as formation of the system of values of knowledge, skills, skills and norms of behavior as individual managers and employees of the enterprise, aimed at adequate attitude to innovations. The importance of development and implementation of the enterprise strategy for innovative development is substantiated.