Innovations in the company and their impact on competitiveness

At present, a difficult situation has developed in Russia in the industry, due to the introduction of unprecedented sanctions pressure from unfriendly countries. This is expressed in the limited supply of imported equipment and components necessary for the modernization of domestic production. In connection with the foregoing, the author of this article substantiates that only the innovative development of domestic enterprises can guarantee their competitiveness. Depending on the direction of influence, certain groups of competitiveness factors can either increase the economic potential of an enterprise or reduce it. External factors are those conditions on which the enterprise cannot influence, but only adapt to them. The enterprise can manage internal factors and influence their development. Note that the policy of import substitution refers to external factors of competitiveness.