Sustainable innovation development of enterprises

Abstract

Increasing competitiveness, reducing costs and costs of production through the efficient use of potential is an important task for any enterprise. This is important for its effective functioning and sustainable development. Innovation is an important factor in the development of an enterprise in a competitive, uncertain environment. A combination of three interrelated pillars – economic, social, and environmental – can enhance its effectiveness from a strategic perspective. They are the ones that characterize the formation of sustainable innovative development of an enterprise of any kind – from industrial to tourism (sphere of services). The article used various scientific methods of research. Methods of comparison, analysis and synthesis, extrapolation, and grouping have been used to examine the views on the current state of the problems of sustainable innovative development in enterprises. To assess sustainable innovation development of the enterprise used the methods of systems approach, economic analysis, modeling, expert evaluation, integrated assessment, synthesis method. Currently, there is no unified system of concepts and categories of sustainable innovation that are needed to bring innovation to the enterprise. This requires a definition of concepts and an algorithm for evaluating efficiency for an enterprise in a given economic situation. To this end, the article explores and defines the essence of innovation-related categories: innovation, innovation process, innovation development, sustainable innovation development. To realize the concept of sustainable innovation development of an enterprise, it is necessary to construct an effective system of measuring it based on an integral indicator. From the moment that the sustainable innovation development of enterprises covered economic, social, and environmental components, the evaluation principles should be completeness, adequacy, complexity, systematicity, consistency of the system based on the generalized index in three-dimensional space The study found sustainable innovation development is closely linked to overall innovation activity and the capacity of the enterprise in a three-dimensional aggregate index. A study of the economic, social, and environmental dimensions of the concept of sustainable innovation in enterprise development showed the relationship between concept and efficiency. It’s argued that the most effective way for enterprises to measure an integral measure, which takes into account many indicators, is to measure both individually and collectively the overall level of sustainable innovation.