Priority Sectors Research Articles

Priority Sector Lending by the Indian Public Banks: Impact on Capital Formation and NPAs

Priority Sector Lending by the Indian Public Banks: Impact on Capital Formation and NPAs

Contagion Effect of Priority Sector Lending of Banks on Non-Performing Assets: A Special Reference to Loan Disbursement to Self Help Groups

Contagion Effect of Priority Sector Lending of Banks on Non-Performing Assets: A Special Reference to Loan Disbursement to Self Help Groups

DEVELOPMENT OF STRATEGY FOR THE REVIVAL AND MODERNIZATION OF SINGLE-INDUSTRY TOWNS OF KAZAKHSTAN BASED ON THE CONSTRUCTION OF A REGRESSION MODEL

Research summary. The article presents a study aimed at developing an effective strategy for the development of single-industry towns in the Republic of Kazakhstan, focused on improving the quality of life for residents and creating comfortable living conditions. A key feature of the study was identifying the main patterns of socio-economic development in single-industry towns through the use of regression analysis. The method of least squares (OLS) was applied, which allowed for a detailed assessment of the contribution of various sectors to the overall economic growth of these towns. Special attention was given to the manufacturing industry, which showed a positive impact on the socio-economic development of these towns. At the same time, the impact of research and development (R&D) was found to be ambiguous, suggesting the need for further analysis to fully understand its potential. The results highlight the importance of a balanced approach to the development strategies of single-industry towns, considering the specific characteristics of the territories and priority sectors. The developed model can serve as a basis for practical recommendations in the formulation of strategies for single-industry town development. The practical significance of the research lies in the potential use of its findings in the development of targeted programs, attracting investments in promising industries, and creating new jobs, which in turn ensures the comprehensive development of Kazakhstan’s single-industry towns.

PROSPECTS FOR RUSSIAN-INDIAN COOPERATION TRADE AND ECONOMIC COOPERATION IN THE CONTEXT OF SANCTIONS

Introduction: The article highlights the negative impact of Western sanctions on the Russian economy and emphasizes the importance of cooperation with India to diversify export-import flows. India’s high economic potential and growing role in the global economy make it a priority for Russia’s eastern policy. Methods: The study is based on an analysis of customs statistics, national statistical data, and academic publications. Methods of systematization, generalization, and specification were employed to identify the key areas of bilateral cooperation. Results: The findings underline that the core of bilateral interaction is the supply of oil and gas from Russia to India. However, the trade imbalance necessitates increasing Indian exports and developing joint investment projects. Priority sectors include energy, pharmaceuticals, agriculture, and high technology. Available Data: Trade statistics indicate an increase in turnover from $32.5 billion in 2022 to $65 billion in 2023. India’s main exports include pharmaceutical products, organic chemicals, electronics, and mechanical equipment, while Russian exports primarily consist of oil, fertilizers, and metals. Discussion: The discussion highlights the need to address the trade imbalance through the diversification of Indian exports and strengthening cooperation within multilateral frameworks. Risks related to India’s reorientation toward Western markets are discussed, and measures such as expanding joint ventures are proposed to enhance mutual trust. In conclusion, the article underscores the strategic importance of the Indian direction for Russia and outlines solutions to current challenges in economic relations.

Методический подход к выявлению ключевых точек роста занятости в экономике арктических регионов.

Developing an effective employment system in the Arctic regions in the context of stagnant demographic and migration trends requires identifying types of economic activities that significantly influence employment growth. This necessity underscores the relevance of the research. The study aims to determine sectoral priorities for boosting employment by identifying key employment growth drivers. The research hypothesis posits that sectors of economic specialization with a positive regional component in structural changes (indicating favorable regional factors) should be classified as employment growth drivers. To analyze the sectoral employment structures of the Arctic regions, the shift-share analysis method was employed, enabling the evaluation of the impact of national, sectoral, and regional factors on regional employment. This was complemented by the calculation of localization coefficients to assess the competitiveness and growth potential of economic activities from an employment perspective. The study's primary contribution lies in developing an algorithm for identifying key employment growth drivers through structural change analysis and specialization analysis. The research introduces a novel classification system for economic activities based on localization coefficients and regional structural shifts. This classification distinguishes three groups: key employment growth drivers, potential employment growth drivers, and possible future employment growth drivers. The proposed methodology was tested using official data from the Federal State Statistics Service for the Arctic regions. The study assessed the employment growth potential of various economic activities and classified them according to the defined criteria. Identifying key employment growth drivers contributes to the scientific foundation of regional employment policies, a critical component of socio-economic development in the Arctic economy. This emphasizes the study's relevance and its scientific and practical significance. Future research should focus on developing models that account for interrelations between economic activities and their multiplier effects.

Improvement of the methodology for assessment of industrial enterprises for making objective decisions within the framework of industrial policy

The article examines the issues of application and improvement of the methodology for evaluating industrial enterprises as recipients of state support within the framework of the implementation of industrial policy. The authors considered approaches to the content of industrial policy, investigated the factors influencing its efficiency, identified aspects of its imperfections that arise when applying an incomplete list of important parameters of economic development and ambiguity in the interpretation of previously applied estimates. The article presents proposals to improve the methodology for assessing potential recipients of state support based on the development of a comprehensive indicator for assessing enterprises (recipients of support), taking into account not only the classical parameters of the economic efficiency of industrial enterprises applying for state financial assistance, but also such aspects as the development of budgetary funds, belonging to priority sectors of the economy, characteristics of sustainable development and export and innovation potential. Combining the results of a comprehensive assessment of the recipient of state support with a map of the business demography of the territory allows making a decision not only about the fact of support and its efficiency, but also to predict the assessment of the life cycle of the enterprise and its subsequent development.

Smallholder maize farming in Zambia: A systematic review of challenges and opportunities

Agriculture remains a key priority sector in many developing countries, serving as the backbone of their economies and providing livelihoods for a significant portion of the population. In Zambia, agriculture plays a crucial role in ensuring food security, generating employment, and fostering rural economic development. Smallholder farmers dominate the Zambian agricultural landscape, primarily engaging in maize production, which is the country's staple food. The smallholder maize farmers play a crucial role in ensuring food security, creating employment opportunities, and contributing to rural development. Despite their important role to food security and economic growth, smallholder maize farmers in Zambia have consistently struggled with low productivity over the years, even though a substantial part of the agricultural budget is dedicated to maize support. Understanding the challenges faced by smallholder maize farmers and identifying opportunities is essential to unlocking their potential, boosting yields, and improving livelihoods across rural communities. This paper explores the challenges and opportunities encountered by smallholder maize farmers in Zambia. Relying on secondary sources through a systematic literature review, including academic literature, agricultural reports, and publications from research institutes and private organizations from 2013 to 2023, the study employs thematic analysis using NVivo software to interpret the data. Key themes of challenges identified include; limited access to finance, inadequate farming inputs, limited market access, fluctuating maize prices, climate change impacts, inadequate extension service, and poor infrastructure. Conversely, opportunities such as the adoption of climate-smart agriculture, increased funding towards agricultural program initiatives, and regional market opportunities can be leveraged to enhance the productivity and sustainability of smallholder maize farming. Understanding these dynamics enables policymakers, researchers, and stakeholders to devise strategies and interventions that enhance the resilience and productivity of smallholder maize farming in Zambia. This paper contributes to the existing literature on smallholder farming and offers insights for sustainable smallholder maize farming in Zambia and similar contexts. Key words: Agriculture, smallholder maize farmers, challenges, opportunities, thematic analysis, Zambia

Модель выявления полюсов развития и точек роста в агропромышленном комплексе региона

Abstract. The socio-economic development of regions depends on the state and level of development of its industries, among which dynamically developing ones play an important role. Acting as development poles, such industries are able to spread the growth effect throughout the region by concentrating production in growth points. The purpose of the study is to deepen the theoretical and methodological foundations for the formation of growth points in the region’s agro-industrial complex in the context of ensuring its sustainable development. The work used such research methods as statistical and system analysis, generalization and synthesis, monographic, abstract-logical. Scientific novelty. Research to identify and analyze trends in the development of Crimean agriculture has received further development. The stages and methodology for identifying growth points are proposed, taking into account regional characteristics. Results. The need to identify and activate growth points in the region’s agro-industrial complex to identify priority sectors is substantiated. The role of the theory of development poles and growth points in the formation of targeted programs and strategies for the development of the region is shown. Current directions and mechanisms for the development of the agro-industrial complex of the Republic of Crimea are presented, which, being a driver of innovations and cluster development, can become the basis for identifying its growth points. Measures are proposed to enhance the action of tools for the development of growth points, as well as an algorithm for their step-by-step identification. To assess the readiness of potential growth points for digital transformation within the framework of the emerging cluster formation of the agro-industrial complex of the region, a comprehensive model is proposed that reflects key business processes and their readiness for automation as the starting stage of digital transformation. The practical significance of the study lies in the analysis and systematization of parameters and indicators in accordance with the stages of identifying growth points. This systematization will allow us to develop a roadmap for identifying growth points, which will identify sources (statistical, scientific, regulatory and other) data, a complete sequence of calculations and actions, which will be presented in further research by the authors.

The Importance of the World Oil and Gas Industry in The Economy of Countries

The oil and gas industry is a cornerstone of the global economy, driving energy production, industrial development, and international trade. This study explores the industry’s critical role in economic growth, its production trends, resource reserves, and challenges. The research methodology includes a review of foreign literature and an analysis of official statistical data through comparative and logical reasoning techniques. Results highlight the significant contributions of oil and gas to energy generation, the chemical industry, and economic stability, with over 50% of global energy needs met by these resources. However, challenges such as environmental impacts, finite reserves, and competition from renewable energy sources pose risks to sustainability. Innovative technologies, environmental reforms, and strategic geopolitical actions are identified as solutions to ensure the industry’s future. This study underscores the need for global collaboration and innovation to balance resource utilization with environmental stewardship. The article investigates the oil and gas industry, which is considered one of the priority sectors for the country's economy, its problems, innovations, production trends, resource reserves, etc. In particular, the role of the oil and gas industry in the economies of countries, the economic potential and the process of increasing the efficiency of resource use are analyzed.

News Media Imaginaries of Artificial Intelligence in Healthcare: A Qualitative Analysis Across China, Germany, and the United States

Artificial intelligence (AI) has attracted much public interest, inspiring both hopes and fears. As countries define pathways for developing and implementing AI, healthcare is emerging as a priority sector. Sociotechnical imaginaries, which can mobilize public support and attract resources for realising sociotechnical visions, play an important role in the trajectories of emerging technologies. News media, in turn, are central to the negotiation, construction, and promotion of such imaginaries. We analyze how news media construct sociotechnical imaginaries of AI in healthcare in China, Germany, and the United States (US), three countries with differing healthcare and media systems, and sociopolitical and -cultural outlook on technologies. Drawing from a thematic analysis of articles from 15 newspapers, we find two powerful, cross-national, collectively held imaginaries: The first imaginary on enhancing healthcare with AI emerged across all three countries; the second imaginary on using AI to manage pandemics or epidemics was only fully developed in Chinese and US coverage, though present as an outlier in German news coverage. Lower-level divergences within each imaginary can be explained by systemic differences between the countries, such as the largely private US healthcare system, the mostly state-controlled Chinese media and healthcare systems, and the German hesitancy toward emerging technologies. This study provides evidence for how powerful imaginaries can emerge across very different sociopolitical and cultural contexts while accounting for contextual national factors.

Methodological basis for identifying promising industries of business specialization in Russian regions while developing digital technologies

A methodological approach has been developed to identify promising sectors of business specialization in the Russian regions in order to develop specific types of digital technologies in them. The approach implementation has been evaluated in several stages. At the first stage, the leading regions have been identified in terms of growth rates of indicators characterizing the use of digital technologies in organizations for the period from 2020 to 2022. At the second stage, business specialization industries groups have been revealed in which the digital technologies development is the highest priority. It became possible thanks to the identification of “transition” groups of industries by the level of digitalization. The leading regions in terms of the use of digital technologies in organizations depending on the growth rate of the level of their dissemination have been identified. Priority sectors of business specialization have been revealed by the share of organizations using digital technologies. In particular, it has been found that wholesale and retail trade, as well as the information technology industry have the potential for the spread of technologies for collecting, processing, and analyzing big data. The manufacturing industry, wholesale and retail trade, and information technologies have the potential to spread digital platforms.

A Comprehensive Study of the Credit Delivery Trends and Opportunities in Himachal Pradesh

The study delved into the time series analysis of the existing credit delivery mechanisms and their efficacy in reaching rural, semi-urban and urban areas based on the bank statistics in Himachal Pradesh. The findings indicated a positive growth in financial inclusion, with a significant increase in bank branches and deposit figures over the years. However, bank penetration and credit allocation disparities were evident, particularly in rural areas. Public Sector Banks (PSBs) dominated the banking landscape, while private sector banks showed potential in underbanked regions. The Credit-Deposit (CD) ratio had declined, indicating reduced credit issuance against deposits. The agricultural credit allocation remained relatively low, with a decline in agricultural term loans. The study recommended targeted policy interventions to promote financial inclusion by diversifying financial services in underbanked areas, incentivizing private sector banks to expand into remote regions and strengthening credit infrastructure in priority sectors, particularly agriculture.

English devolution: How city-region mayors and industrial policy deliver local and national growth

The newly elected UK Labour Government has acknowledged the importance of devolution and combined authorities to its industrial strategy and growth agenda. The initial signals appear promising. Ministers reiterate that powers and resources will be directed towards improving growth and the productive capacity of sub-regional economies as a central element of Labour’s growth ‘mission’. Yet there is considerable uncertainty about the long-term direction of the new government’s industrial policy, while the role of city-region mayors in industrial strategy is not yet well established. Despite the rhetoric about the role of mayors, there are tensions as well as scepticism in Whitehall about the capacity of combined authorities to deliver for local economies. Industrial policy is traditionally perceived as a national project with sectoral priorities and centrally driven interventions that can, in this case, achieve the ‘mission’ of making the UK the fastest growing G7 economy by the end of the Parliament. Historically, place has not been an integral feature of industrial policy. Nevertheless, it is clear that Whitehall lacks the capability to oversee industrial policy from the centre. There is a risk that in the laser-like focus on growth, combined authorities are treated as agents to be managed and UK spatial inequalities (already among the worst in the Organisation for Economic Co-operation and Development [OECD] countries) get worse. In this paper, we make the case that devolved authorities and mayors should be the main agents of industrial policy, working in partnership with government. This is because the fruits of industrial policy are deeply rooted in communities in the form of employment and skills and if new more productive companies are to invest, existing clusters mature and further employment be created, that will require sub-regional commitment and leadership.

Tourism Development Impact on Economic Growth and Poverty Alleviation in West Java

Poverty alleviation is on the agenda of regional development in West Java. One of the priority sectors is tourism development, which supports inclusive economic growth and is expected to address poverty. Through various unit analyses, the study analyzed how tourism development in West Java impacts economic growth and poverty alleviation. These included indicators such as the number of tourist visits, hotel room occupancy rate, the number of hotels and restaurants, average length of stay, and the tourism sector's contribution to Original Local Government Revenue (PAD). Economic growth was assessed using indicators such as Gross Regional Domestic Product (GRDP), unemployment rate, Gini Index, and regional investment value. In contrast, the poverty variable used the percentage and number of people living in poverty, poverty line statistics, Poverty Depth Index, and Poverty Severity Index. Inferential statistical analysis, specifically Partial Least Square (PLS), was conducted using a quantitative approach and data from BPS - Statistics of West Java. Hypotheses were formulated based on the literature review, asserting that tourism development significantly and positively impacted economic growth and poverty alleviation in West Java. Results showed that tourism development significantly boosted economic performance, directly influencing economic growth. Additionally, high economic growth correlated with reduced poverty rates, highlighting the importance of inclusive growth for alleviation. Key indicators played crucial roles in poverty alleviation, including the number of hotels and restaurants, the tourism sector's contribution to regional revenue, GRDP, and regional investment value. These findings provided valuable insights for policymakers and stakeholders to develop effective strategies for leveraging tourism potential to promote inclusive economic growth and alleviate poverty in West Java.

Formulating state policy to support state corporations in strategic economic sectors

In the context of economic instability and global challenges, effective support for state corporations is a key element in ensuring the economic security and development of a country. The aim of this study was to analyse the processes of formulating state policy aimed at supporting state corporations in priority economic sectors and to propose a comprehensive approach to enhancing this support. Using methods of comparative analysis, descriptive methods, and statistical analysis, the main problems and barriers hindering the effective functioning of state corporations were identified. The peculiarities of forming state policy to support state corporations in Ukraine’s strategic sectors were examined. Current challenges and policy principles were identified. Modern state approaches aim to provide a comprehensive analysis, backed by the latest scientific research, offering an understanding of effective policy formulation and implementation. Successful strategies were identified, including the implementation of best corporate governance practices, stimulating innovation, and ensuring financial stability through the diversification of funding sources. The results obtained indicate the need for a balanced approach to supporting state corporations, combining direct financial assistance with regulatory and institutional measures. In cases where state governance mechanisms are underdeveloped and the risks of state failure are high, the number of state enterprises should be limited. The concept integrates various components crucial for supporting state corporations, including regulatory mechanisms, financial incentives, and management structures. The necessity for flexibility and adaptability in policy development was emphasised, allowing state corporations to effectively respond to changing economic and technological conditions. The study proposed a comprehensive policy formation model consisting of such interrelated components as the selection of policy instruments, implementation structures, determination of sectoral priorities, and adaptive management. The study developed practical tools to enhance the efficiency of state corporations in key economic sectors

Levelling up in a ‘decentralised’ England: place-based or ‘one-size-fits-all’ strategies?

ABSTRACT English policymaking has traditionally been centralised, assuming homogenous needs across regions and contributing to economic inequalities. The Levelling Up Agenda aims to address these disparities through a place-based approach using devolved Combined Authority (CA) organisations. Despite being the first national strategy with an extensive place-based focus, it faces criticism as a potentially centralised political tool. Concerns also exist about whether Combined Authorities can deliver regional economic development as they have centrally controlled aspects. If regional planning approaches are identical, decentralisation through Combined Authorities would essentially be futile. This paper uses a novel quantitative method with Strategic Economic Plans to determine if regional planning inhibits a place-based or ‘one-size-fits-all’ approach, contributing data-driven insights to the debate regarding the efficacy of Combined Authorities. Through exploratory text analysis, hierarchical and K-means clustering, findings indicate regions adopt place-sensitive planning with varying sector priorities. A northern-southern and an inland-coastal distinction emerge, with London as an outlier. This suggests Combined Authorities are fit for purpose at this quantitative clustering level and do consider their geographical context in planning despite a devolved yet centrally controlled oxymoronic landscape. Collaborations like an inland and a coastal CA network are recommended to potentially maximise place-based growth.

A Comprehensive Study on the Effects of Microfinance Institutions’ Activities on Economic Growth of India

India has supported social banking for a long time. Policy directions to rapidly expand rural branches, mandate credit allocations for priority sectors (including agriculture), deliver large subsidy oriented credit programmes to serve marginal communities and poor households and control interest rates have been tried for over 35 years. For these purposes, microfinance industry is set to reach new heights. With superlative growth numbers in a period of economic downturn, the sector has come to attention of a wider range of investors. The rapid growth of the microfinance sector in the last few years has completely changed its complexion and nature. The growth has transformed microfinance: from being a sub-set of the development sector it has become a sub-set of the financial services industry. In the last two years competition amongst microfinance institutions (MFIs) as well as with the Self Help Group (SHG) movement has emerged India. This paper discusses the role of microfinance industry in country‟s economic growth in terms of its GDP. It also discusses the changed scenario in the competitive environment and the issues in microfinance institutions. Karl Pearson‟s coefficient of correlation is used to determine the role of microfinance in country‟s growth, which state a very high correlation between these two.

Integration of AI-based software as a medical device into Russian healthcare system: results of 2023

Introduction. Healthcare is one of the priority sectors for the deployment of artificial intelligence (AI) technologies worldwide, including Russia. A key area of AI deployment is the integration of AI-base software as a medical device (AI SaMD) into the Unified digital systems of the healthcare sector of the Russian Federation.Aim. Research of the results of the deployment of AI SaMD in healthcare of the Russian Federation in 2023.Materials and methods. The State Register of Medical Devices and Organizations (individual entrepreneurs) engaged in the production and manufacture of medical devices was used as information about AI SaMD registered in Russia. As information on the deployment of AI SaMD, data from monitoring to the federal project “Creating a single digital system in healthcare” was used, including reports from constituent entities of the Russian Federation upon these activities. The results of the implementation of AI SaMD in Moscow were obtained according to data from the Moscow Department of Health as part of an experiment on the use of innovative technologies in the field of computer vision for the analysis of medical images.Results. As of January 1, 2024, Roszdravnadzor registered 26 AI SaMD, 77 % of them were developed by 13 Russian companies. At the end of 2023, 84 (94 %) constituent entities of the Russian Federation met the minimum established target for the purchase of AI SaMD. Within the framework of public procurement procedures provided by law, 106 government contracts were signed for the purchase and deployment of AI SaMD for a total amount of 448 million 430 thousand rubles.Conclusion. In 2023, the Russian healthcare system made a significant breakthrough in terms of the practical deployment of AI SaMD. Completed procurement and deployment projects are the basis for subsequent industry development.

Методический подход к согласованию стратегических приоритетов государственной региональной политики развития старопромышленных регионов Российской Федерации

The formation of strategic priorities of the state regional policy for the development of old-industrial regions is complicated by the multiplicity of its actors and the need to coordinate spatial and sectoral priorities of regulatory impact. The article presents a methodological approach to coordinating the priorities of spatial and sectoral development of old industrial regions in the format of a scheme reflecting the logic and sequence of actions aimed at achieving strategic goals of regional development in accordance with the strategic national priorities of the Russian Federation. The methodological approach was tested on the example of the Saratov region, one of the old industrial regions of Russia with growth potential within the framework of the industrial development model. The necessity of using two approaches in the coordination process is justified: the first should be used to achieve the strategic priorities of the federal Center in a coordinated manner, on the one hand, and the old industrial regions and enterprises and organizations of the "industrial core", on the other (coordination "vertically"); the second — in order to coordinate the regional priorities of spatial and sectoral development of the old industrial region (horizontal alignment). Proposals are presented for the formation of a list of agreed priorities for the spatial and sectoral development of the Saratov region, the implementation of which will contribute to the transformation of the region into a point of growth of the national economy of Russia.

THE ROLE OF INNOVATION STRATEGY IN ENSURING SUSTAINABLE DEVELOPMENT OF THE ENTERPRISE

The article discusses the role of innovation strategy in ensuring sustainable development of the enterprise. At this stage of economic development, organizations are provided with a huge number of opportunities that can be used to develop entrepreneurial activity. Rapid changes in the external and internal environment contribute to the fact that enterprises have to adapt to new conditions, as well as develop strategies for innovative business development. In this regard, the ability to develop innovative strategies is becoming a key competency that allows you to competently manage an enterprise. Competition between companies is becoming more intense, only enterprises that can develop the most effective innovative strategies will be able to take and maintain leadership positions. The role of innovation is manifested in ensuring the success of business in the long term. Innovations contribute to increasing the competitive position of the organization. Innovative strategy allows companies to take their business to a new level. It defines promising areas of development of the company, assesses its innovative potential and level of investment attractiveness, allows you to establish new areas of cooperation, helping the business to remain competitive. The development of an effective innovation strategy will allow the company to take a leadership position that will allow it to stay in today's highly competitive world. Industrial development is a priority sector for any state. Industry ensures the country's independence from a number of imported goods, provides jobs, and promotes economic stability. Any developed state will take measures to develop industry. But the industrial sector is quite complex for doing business, because it requires significant resources at the start of work, a set of skills and knowledge, and a high level of technical equipment. Against the background of the importance of the industrial sector for the life of the state as a whole and the complexity of implementing entrepreneurial tasks in this area, the formation of a concept for the sustainable development of industrial enterprises is of particular relevance. The constituent components of the sustainable development of industrial enterprises should be ensured both at the macro and micro levels. Financial and economic components of the sustainable development of industrial enterprises at the macro level imply the presence of the following factors. Ensuring the investment attractiveness of the country. Attracting foreign investors is one of the ways to ensure the sustainable development of industrial enterprises, as well as the growth of the state's economy. Development of an appropriate monetary and credit policy. A number of factors influence the sustainable development of industrial enterprises: the level of inflation, the availability of credit resources, the volume of money circulation. In the absence of effective mechanisms for maintaining stability in the monetary and credit sphere, the implementation of the directions of the concept of sustainable development of industrial enterprises is also impossible. Thus, sustainable development of industrial enterprises is one of the most important areas of work of the state authorities. The concept of sustainable development of industrial enterprises includes a number of components, some of which are already being actively implemented. Also, the concept of sustainable development of industrial enterprises should include a number of measures that contribute to increasing the profitability of the company's activities and take into account the specifics of its activities. Keywords: innovation, innovation process, innovative development, innovation strategy, enterprise, strategic management, competitiveness.