Innovative approach to the process of strategic development of the enterprise in the region

The article focuses on the problems of strategic development of business entities based on the application of innovative approaches. The authors analyzed the existing approaches, concluded that it is advisable to apply them in the current business environment, assessed the importance of using innovative technologies for oil and gas industry enterprises, systematized digital innovations and determined their role in the process of ensuring the strategic development of the company. Innovative approaches to the strategic development of enterprises are implemented through a combination of infrastructural, institutional, and technological directions of its provision. It is advisable to use innovations in relation to the increase in the amount of income, net profit, and financial stability. It is concluded that enterprises should focus on the use of industrial (industrial) The Internet of Things, because with the development of collaborative economic relations between interacting participants in the innovation process, their production systems require ongoing systematic analysis in real time. The digital transformation of oil and gas industry enterprises, which includes a large number of complex independent projects, is mainly based on predictive process management based on a dynamic model.