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Features of Strategic Management of Innovative Development of Industrial Enterprises

Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.65, No. 3)

Publication Date:

Authors : ;

Page : 184-190

Keywords : strategic management; industry; strategy; innovations; innovation process; products; competitiveness; competitive advantages.;

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Abstract

The article considers the main aspects of strategic management of industrial development. A model of strategic management of an industrial enterprise has been developed. It is proved that the combination of integration of strategic and innovation management leads to the improvement of enterprises' competitive position in the market by creating competitive advantages. Peculiarities of formation of strategic management of innovative development at the industrial enterprise are investigated, the main of which is perspective orientation of innovative activity on inquiries of consumers, flexible reaction and continuous updating of parameters of business model, proceeding from competition requirements, towards achievement of steady advantages by development of creativity and intellectual potential of the enterprise, which causes the growth of its importance in the management system of a modern enterprise in terms of innovative development. It is determined that the main advantages of strategic thinking in terms of leadership and management of the enterprise are: the ability to subordinate all activities to a key aspect of strategy; the ability to more clearly respond to changes in the internal environment and the environment by the owners and management of the enterprise; the ability of enterprise managers to assess alternatives for capital investment and staff development, which provides opportunities for redeployment of resources to strategic areas and strategic projects for enterprise development and others. The stages of strategic innovation management are outlined, which will ensure the achievement of the desired results through the implementation of innovative implementations in the future.

Last modified: 2022-01-11 19:38:17