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Liburkina L. M.

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Methodological Approach to Assessing the Level of Innovative Business Development
Denchyk I. S.

Denchyk, Iryna S. (2024) “Methodological Approach to Assessing the Level of Innovative Business Development.” Business Inform 10:88–94.
https://doi.org/10.32983/2222-4459-2024-10-88-94

Section: Innovative Processes

Article is written in English
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UDC 338.2

Abstract:
The article surveys a methodological approach to assessing the level of innovative business development in the context of the digital transformation of the economy. Particular attention is paid to the formation of the innovative potential of enterprises, which is the basis for increasing their competitiveness and sustainability in the context of globalization and dynamic market changes. The author proposes a comprehensive algorithm for assessing innovation potential based on the use of the Innovation Scorecard system to determine the level of innovation, as well as to assess individual components of innovation development, such as information, scientific, technical, financial, and human resources potential. The article examines the key factors that determine the success of an enterprise's innovation activity, including organizational and management mechanisms, strategic planning, flexibility of adaptation to digital changes, and the use of the latest technologies in business processes. In addition, the article analyzes the impact of corporate culture on the innovative maturity of enterprises and also considers the importance of implementing standards of innovation management and effective management of social security in business. It is shown that the introduction of innovative approaches allows enterprises not only to increase productivity but also to function sustainably in a changing environment, achieving long-term success. The presented results of the study can be used to develop strategies for innovative development aimed at improving economic efficiency and reducing risks in the process of enterprises' adaptation to the digital economy. The conclusions are of practical importance for scientists, managers and policy makers who are interested in developing effective mechanisms to support innovation in the current conditions of digital transformation.

Keywords: innovation development, digital transformation, innovation potential, development strategy, competitiveness, managerial innovation, innovation maturity, digital economy.

Fig.: 2. Tabl.: 4. Formulae: 1. Bibl.: 9.

Denchyk Iryna S. – Senior Lecturer, Department of Management, Business and Professional Communications, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

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Orlova-Kurylova, O. “Suchasni metody otsiniuvannia innovatsiinoho potentsialu“ [Modern Methods of Evaluating Innovative Potential]. Visnyk Khmelnytskoho natsionalnoho universytetu, no. 4 (2018): 143-146.
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Idris, M., and Durmusoglu, A. “Innovation management systems and standards: A systematic literature review and guidance for future research“. Sustainability, vol. 13. 8151 (2021). DOI: https://doi.org/10.3390/su13158151
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Lorincova, S., Miklosik, A., and Hitka, M. “The role of corporate culture in economic development of small and medium-sized enterprises“. Technological and Economic Development of Economy, vol. 28 (1) (2022): 220-238. DOI: https://doi.org/10.3846/tede.2021.15983
Sylkin, O. “Methodology of forming model for assessing the level financial security“. Management Theory and Studies for Rural Business and Infrastructure Development, vol. 42 (3) (2020): 391-398. DOI: https://doi.org/10.15544/mts.2020.39
Sylkin, O. et al. “Modeling the process of applying anti-crisis management in the system of ensuring financial security of the enterprise“. Business: Theory and Practice, vol. 20 (2019): 446-455. DOI: https://doi.org/10.3846/btp.2019.41

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