The economic substance of a company’s innovation policy

Анотація

This article examines the theoretical and methodological aspects of developing a company’s innovation policy as a key instrument for ensuring its competitiveness amid globalization, intensifying technological competition, and dynamic changes in the external economic environment. It is argued that an enterprise’s innovation policy is an important component of strategic management, ensuring the systematic implementation of innovations, the modernization of business processes, and the improvement of resource utilization efficiency. It has been established that two main approaches to its interpretation have emerged in contemporary scientific discourse: the managerial-strategic approach, which views innovation policy as an internal tool for managing an enterprise’s innovation activities, and the systemic-institutional approach, which focuses on the enterprise’s interaction with elements of the national and regional innovation system. Based on a synthesis of existing approaches, the author proposes an interpretation of enterprise innovation policy as a systemic and long-term oriented set of management decisions, principles, mechanisms, and tools aimed at the creation, implementation, and commercialization of innovations through the interaction of the enterprise’s internal resources and the external institutional environment. The key factors in shaping an enterprise’s innovation policy are identified, including strategic orientation, systematic approach, continuity of innovation activities, resource availability, flexibility in responding to changes in the market environment, and alignment with scientific and technological progress. The principles of forming and implementing innovation policy are examined, including strategic focus, market-oriented approach, purposefulness, comprehensiveness, systematic planning, and scientific rigor. A structural-logical model of an enterprise’s innovation policy is proposed, and the main stages of its implementation are systematized, including the analytical-diagnostic, strategic, project-planning, organizational-implementation, monitoring-evaluation, and corrective-adaptation stages. It is demonstrated that the comprehensive implementation of these approaches contributes to the formation of an effective enterprise innovation policy capable of ensuring its sustainable development and long-term competitiveness. Keywords: innovative entrepreneurship, high-tech companies, government support, management, innovation policy, globalization challenges, innovative development of enterprises, potential, e-commerce, innovation ecosystems, competitiveness, innovative approaches, digitalization, efficiency, controlling, adaptive control.

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