Study of the relationship aspects of sustainable development and innovative activity of industrial organizations

The subject of study is the relationship of innovation and sustainable development of a commercial organization as a whole and in individual aspects of these processes. The aim is to estimate the degree of innovation impact on the sustainable development of the organization, including its economic, environmental and social components. Object of research is industrial organizations of Vitebsk. The working hypothesis of the study: innovative activity of the commercial organization and its elements: innovative potential, innovative activity and effectiveness of innovation have different effects on some aspects of sustainable development of the organization. A system of indicators is developed to describe the interrelated processes: the innovation activities of the organization and its sustainable development. For quantitative characteristics of the studied processes authors designed a matrix of the relationship aspects of sustainable development and innovation organizations. The results obtained allowed to establish the re lationship existing between the studied phenomena, both as a whole and in the context of their individual components. As a result of studies the following conclusions were obtained. Firstly, innovative potential has the most powerful influence on the sustainable development of industrial organization. Secondly, innovation has a significant impact on the economic and environmental development of objects of research and to a lesser extent on their social development. Consequently, the social component of innovation processes needs focusing on to ensure a balanced and sustainable development of industrial organizations of Vitebsk.