Enterprise innovation development strategy

In the innovative development of an enterprise, an important role should be played by the determination of methods for ensuring a long-term direction of development by choosing an algorithm of actions, that is, a sound strategy based on economic decisions, business approaches, ways of their implementation, and establishing relationships with other subsidiaries of the integrated structure. In conditions of tough competition in the markets, the only way to ensure competitive advantages for an enterprise can only be strategic management of innovative development, which is capable of providing long-term forecasting and implementation of the innovative goals and objectives set in the strategy. There are quite a few formulations and varieties of strategies for innovative development, among which the most characteristic types can be distinguished: offensive - typical for enterprises that base their activities on the principles of entrepreneurial competition and the creation of "breakthrough" innovations; defensive - aimed at maintaining competitive positions in existing markets; imitation - aimed at copying the consumer properties of innovations from other enterprises; “Niche” - aimed at adapting to narrow market segments with products with unique characteristics associated either with differentiation or with low costs. The mission of innovative development is formulated as follows: "The company guarantees its shareholders adherence to the innovative direction of development by developing and manufacturing high-quality innovative products that are not inferior to the best foreign models and generating high employee incomes, fulfilling obligations to society and profit to shareholders." Implementation of the strategy of innovative development should be reduced to constant monitoring of its implementation and adjustments, taking into account the changing external environment and internal conditions of the enterprise. This function at the analyzed enterprise is performed by the management of the enterprise, since its functions include not only the formulation of the strategy, but also the choice of methods for its implementation, as well as control and, if necessary, its adjustment.