The theoretical basis for using the strategy of import substitution at industrial enterprises

The aim of the article. The theoretical prerequisites for the implementation of the strategy of import substitution in the management of enterprises of the machine building sector of the economy.The results of the analysis. The article considers the scientific developments on the selection and implementation of innovative strategies. The author suggests improving the classical approach to strategic directions of enterprise growth through a strategy of import substitution.In this paper we consider the B2B sector. Here the enterprise in the manufacture of industrial product is dependent on many factors, especially the suppliers of raw materials and components. Enterprises with incomplete production cycle are in the area of depending on other machine-building enterprises. Decision on the implementation of the latest strategies of innovative development must be justified and fundamental. It should take into account the risk factors and scenarios of development of events with all micro and macro factors.Modern products of the engineering industry are characterized by stringent quality requirements, both from the side of the consumers of these products, and international regulatory requirements. Contamporary realities are such that achieve conformity of products to strict standards during the use of the old production equipment is practically not possible, or it does not entail the competitive cost of production. Therefore, to achieve a competitive parity with import products, domestic enterprises should be modernized. This will ensure improvement of quality, reducing production costs, reduction of production time and will reduce the cost of production.So, production capacity must correspond to the products that it manufactures. Therefore, domestic companies to achieve a competitive position on the world market should produce a product, and this must match the production equipment. In the case of the introduction of strategies of innovative development of the enterprise that are based on outdated production and technical equipment of the enterprise we will be able to have only a minor short-term effect.Conclusions and directions of further researches. Today many scientific developments are dedicated to selection and implementation of innovative strategies at the industrial enterprises. But not enough attention is paid to such important areas as import substitution, despite the fact that it is very closely connected with the introduction of innovations in the production process, and marketing. Theproduction of import substitution products can become the driving force of modernization of the national economy and will improve the payment balance of the country. It is import-substitution strategy, subject to its appropriate use is capable of ensuring the long-term activity of the enterprise in the area of return. This approach will give possibility to produce and sell competitive goods on the basis of domesticenterprises.Prospects for further research consist in developing methods and criteria which will help the company to analyze its activity and to define the strategy of import substitution.