ORGANIZATIONAL AND ECONOMIC MECHANISM FOR THE INNOVATIVE STRATEGY FORMATION FOR THE DEVELOPMENT OF INDUSTRIAL ENTERPRISES

Abstract

The article is devoted to the study of the organizational and economic mechanism of forming the innovative strategy for the development of industrial enterprises. It has been proven that the organizational and economic mechanism promotes effective interaction between the company's divisions, which helps avoid duplication of work and increases the overall coordination of activities. The tasks that the organizational and economic mechanism is aimed are analyzed, including the following: ensuring stability, competitiveness and profitability of industrial enterprises due to the rational use of resources, development and implementation of innovative solutions, as well as increasing the overall efficiency of functioning. The criteria that the specified mechanism must meet are outlined. The stages of the formation of the organizational and economic mechanism in the context of the innovative strategy formation for the development of industrial enterprises were studied. The advantages and prospects for industrial enterprises from the implementation of the organizational and economic mechanism of management of innovative processes are analyzed. The challenges faced by industrial enterprises are considered, among which constant changes in market conditions, technological progress, digitalization, limited resources, growing competition are highlighted. It has been proven that taking into account and adapting to these challenges becomes a necessary condition for ensuring the stability and further development of the enterprise. It is argued that the development of an effective organizational and economic mechanism for the formation of an innovative development strategy is a means that allows enterprises to adapt to new conditions, use opportunities as effectively as possible and direct them to make innovative decisions, increase productivity and competitiveness, as well as optimize management processes.