Actual problems of innovative economy

The journal is added to the the List of printed scientific professional publications in the field of economic Sciences by the Ministry of education and science of Ukraine from 11.07.2016 No. 820
The journal is indexed in the International Scientific Center of Index Copernicus International

The direction of innovation and investment activity of agribusiness entities as the main sphere of their economic potential mobilization

УДК 330.341.1

DOI: https://doi.org/10.36887/2524-0455-2020-1-8

Vitkovskyi Yu. P.
ORCID ID: 0000-0001-5806-8671

Abstract.

Introduction. Ensuring investment attractiveness and the formation of effective strategies for competitive development of agricultural businesses is carried out by achieving unity between production capacity and management capabilities. Investment potential of agricultural enterprises is formed on the basis of financial results and borrowed funds. In the context of this issue, management tools play an important role in improving the production component of innovation potential.

The purpose of scientific research is to develop areas of innovation and investment activities of agricultural businesses to mobilize their economic potential.

Results. The essence of innovative development from the standpoint of the process approach is determined. The expediency of determining the process of innovative development in the context of the activities of a particular business entity is substantiated. The essence of innovation development management is described. The role of the information system in ensuring the innovative development of the enterprise is determined. The characteristics of the levels of innovative development management are given. The peculiarities of the system of innovation development management are outlined. It is established that self-investment is the main source of financial support for innovative activities of agricultural enterprises. The role of innovation, scientific and technological activities of agribusiness entities in the process of their transformation and integration at the national level is substantiated. It is determined that mostly innovative activity of domestic enterprises is realized through the expansion of product range policy. The expediency of diversification of the main activity of agrarian formations is substantiated in the process of innovative development. The essence of innovative activity of agrarian enterprises is characterized. The necessity and preconditions of diversification strategies formation are outlined. The expediency of using innovations in technical re-equipment of agricultural enterprises during the economic crisis is substantiated.

Conclusions. The use of diversification strategies in the innovative activity of agricultural enterprises will contribute to ensuring their strategic development, maintaining the appropriate level of competitiveness. The need to adapt to the changing economic environment encourages companies to find the most profitable areas of use of their production potential.

Key words: economic potential, subject of agrarian business, investment activity, innovation activity, competitiveness, strategic management, diversification of activity.

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The article was received 10.12.2019