Innovative and Intellectual Capital Strategies for Adaptive Management of Enterprise Development
Viktoriia Chobitok
D.Sc., Prof.,
V.N. Karazin Kharkiv
National University,
Kharkiv, Ukraine.
Iryna Miahkykh
D.Sc., Prof.,
Kyiv National University of
Technologies and Design,
Kyiv, Ukraine,
Oleksandr Kryvanych
Ph.D., Assoc. Prof.,
Uzhhorod National University,
Uzhhorod, Ukraine.
oleksandr.kryvanych@uzhnu.edu.ua
Olena Bozhanova
Ph.D., Prof.,
Ukrainian State University of
Science and Technologies,
Dnipro, Ukraine.
Farid Suleimanli
PhD Student,
Simon Kuznets Kharkiv
National University of Economics,
Kharkiv, Ukraine.
Abstract
In the article, the features of the use of innovative and intellectual strategies in adaptive management of the enterprise development are studied. It is substantiated that the decline in intellectual and innovative potential was negatively affected by military operations in the country and the consequences of the pandemic. It was established that enterprises independently choose the type of strategic support based on their own resource capabilities and the influence of the external environment. It is established that when assessing the external environment, it is advisable to take into account not only risks and threats, but also opportunities for business. The structure of innovation and investment resources of the joint-stock company “Farmak”, internal sources of financing for the development of the enterprise and their correlation with the scale of innovative activity are analyzed. Based on a study of various types of strategies, it was determined which are the most appropriate strategic guidelines that Ukrainian enterprises should use during the post-war reconstruction of the state to form competitive advantages.
Keywords: Adaptive Management, Enterprise Development, Intellectual Strategies, Innovative Strategies, Business, Instability, Management, European Integration.
Introduction
Today, in the conditions of instability of the external and internal environment, the formation of adaptive capabilities is one of the tools to ensure the competitiveness and development of the enterprise. In these unfavorable conditions, competitiveness is considered not as the scale of resources, but as the speed of learning, the ability to restructure processes and commercialize knowledge. In the international methodology, innovation is defined as a new or significantly improved product or process that differs from previous practices of enterprises and is introduced into the market.
These aspects should be taken into account in Ukraine, since most often innovations are identified only with scientific and research developments or equipment improvements. At the same time, innovations should be considered from the perspective of their practical implementation in management, digital and business processes. Therefore, the study of modern innovative and intellectual strategies in adaptive management of enterprise development is an urgent task in ensuring business competitiveness.
Literature review
Current business conditions dictate the need to implement the latest technologies and intelligent solutions to ensure the flexibility and sustainability of enterprises. Arutiunian et al. (2025), Giannoukou et al. (2025) assess innovative management methods in combination with enterprise strategies, analyse innovative digital strategies in crisis management for enterprises to increase resilience. Maphumulo et al. (2025), Trasciani et al. (2025) outline the tools of smart manufacturing and innovative leadership strategies in small manufacturing enterprises, and also examine innovative strategies and challenges for social enterprises in job integration in France.
Hlushenkova et al. (2024), Cherep et al. (2024) study the features of managing strategies for the formation of innovative and investment potential of enterprises as a factor to ensure economic security, and reveal the ways to improve the mechanism for managing the strategy of innovative activity of enterprises. Miahkykh et al. (2024), Suparna et al. (2024) carry out the analysis of the risk management strategy of international project investments in the era of Industry 4.0, investigate the strategies for strengthening innovative behavior in small and medium-sized enterprises.
Jin (2024), Wolniak et al. (2023) present the innovative strategies, and investigate the practical impact of enterprise supply chain management within a smart city, analyze the prevalence and impact of innovative CSR strategies in manufacturing enterprises. Fu et al. (2025), Yang (2025) analyze the data management structure and intelligent decision-making system in the technological strategy of the enterprise, considere innovations in digital intelligent risk management strategies for enterprises in the intellectual era.
Wang (2025), Liu (2025) analyze the strategies of logistics alliances of enterprises for cross-border e-commerce and intellectual efficiency, study the application of an intellectual algorithm in the analysis and forecasting of the competitive strategy of an enterprise. Liu et al. (2024), Tian et al. (2022) investigate the ways to optimize the investment strategy of an enterprise and analyze the dynamics of the evolution of the intellectual strategy of Chinese enterprises.
Alshebami (2025), Saah et al. (2024) substantiate the relevance and necessity of crisis management and adaptation of enterprises to customer needs, and identifie the role of adaptive management in the sustainability and growth of small and medium-sized enterprises. Cheng et al. (2022), Shi et al. (2021) determine the influence of enterprise management elements on the entrepreneurial behavior of young people using the theory of complex adaptive systems, analyze the features of adaptive management of self-organization of a complex system in the manufacturing enterprise. Grigoraș-Ichim et al. (2018), Tulchynska et al. (2021) analyze current challenges, opportunities, and problems in forming innovation and investment strategies to activate modernization and increase the competitiveness of enterprises.
Supporting the research results considered, it is appropriate to emphasize that this article is distinguished by its topical analysis of the impact of military operations on the intellectual and innovative potential of enterprises, as well as the importance of choosing strategies that take into account both risks, and opportunities for business in the conditions of post-war recovery.
The purpose of the article is to study the role of innovative and intellectual strategies in adaptive management of enterprise development.
Methodology
We propose to carry out the analysis of innovative and intellectual strategies in adaptive management of enterprise development using the methodology given in Table 1, with the aim of a comprehensive combination of financial performance indicators with parameters of innovative activity, intensity of investment in scientific research and development, scale of profit reinvestment and characteristics of intellectual capital, which will allow to identify the ability of the enterprise to structural transformation in the unstable environment, assess the efficiency of resources use to form long-term competitive advantages and justify the directions of adjusting management decisions within the framework of the adaptive development model.
The indicators of the Table reflect a systematic approach to the analysis of innovative and intellectual strategies of the enterprise in the context of adaptive management of its development. They demonstrate how the formation and calculation of key indicators were carried out, providing the substantiated analysis of financial and technological resources.
Table 1. Research methodology and algorithms for calculating indicators of innovative and intellectual strategy and adaptive management of enterprise development
|
Indicator |
Data source |
Calculation formula / algorithm |
Appointment |
|
Total investment in development |
Company reporting, press releases, publications |
Summarized sum of all CAPEX, R&D, laboratory modernization and digital platform costs: I total = CAPEX + R&D + other investments |
Assessment of the scale of development and innovation financing |
|
R&D ‑expenses |
Company reporting, press releases |
R&D total = research expenses + development of new drugs |
Determining the concentration of resources on intellectual and scientific projects |
|
Number of new products |
Internal company statistics, press releases |
Counting new drugs launched on the market per year: N products = Σ(new drugs per year) |
Indicator of the effectiveness of innovative projects |
|
Growth in indicators |
Calculated |
Δ2024–2022 = Value2024 – Value2022 Δ2024–2023 = Value2024 – Value2023 |
Defining absolute resource and productivity growth |
|
Investment for 1 new product |
Calculated |
Estimating the resource intensity of creating new products |
|
|
R&D for 1 product |
Calculated |
Determining the concentration of scientific resources per unit of product |
|
|
Share of R&D in total investment |
Calculated |
Intellectual investment concentration indicator |
|
|
Distribution of investments by direction |
Company reporting, press releases |
I direction = Σ costs in a specific direction |
Analysis of innovation strategy priorities |
|
Costs for laboratory modernization and digital platforms |
Company reporting, press releases |
I modern = equipment costs + digital platforms + laboratory automation |
Assessment of technological enhancement of innovation activity |
|
Rate of change / increase in costs for 1 product and other indicators |
Calculated |
Δper product = Value2024 – Value of previous year |
Determining the effectiveness of an adaptive innovation strategy |
Source: proposed by the authors
The Table presents total investments in development, including capital expenditures, R&D and modernization of the enterprise, which will allow assessing the scale of financing strategically important areas of innovation. R&D ‑costs are calculated as the sum of all research and development projects of the enterprise, which ensures the concentration of resources on the creation of new products and technological solutions. The indicator of the number of new products allows us to assess the effectiveness of innovation activity, and the absolute increases in costs and products for the period and demonstrate the effectiveness of adapting the strategy to changing market conditions and technological challenges. The Table also provides algorithms for calculating investments and R&D per new product, which allows us to assess the resource intensity of creating innovative solutions and concentrating scientific potential. The share of R&D in total investments reflects the strategic priority of the intellectual component of development, and the distribution of investments by areas, including laboratory modernization, digitalization, marketing and licensing, which allows us to analyze the priorities of the enterprise's innovation and intellectual strategy. All of the above formulas and calculation algorithms are an integrated tool that provides a systematic assessment of the effectiveness of innovation activity and the adaptability of the enterprise, allowing us to determine both the financial scale, and the strategic concentration of resources on key areas of intellectual development, which is the essence of the research topic.
Results and Discussions
In today's conditions, for Ukrainian enterprises, the issue of innovative and intellectual development is not only an economic component of the public good, but also a security issue. The use of these strategies should ensure both the internal needs of the enterprise's functioning, and ensure survival, resilience to crises, flexibility in the external environment, and speed of recovery from crises and threats. Business losses during the war are quite significant, which negatively affected the general economic situation of both the country and the sectors of the economy. During the period of military aggression, there are many risks and threats for enterprises, which are associated precisely with the unfavorable security situation.
First, these are the risks of destruction of infrastructure, production and social infrastructure, threat to the lives of workers, destruction of supply chains, etc. A significant personnel shortage, which is associated with the mobilization and outflow of personnel, leads to a shortage of certain professional groups, especially with regard to male labor. The consequence of these adverse events is a decrease in the country's overall economic potential, a decrease in purchasing power, the level of investment and the instability of the exchange rate, which affects the effectiveness of foreign economic activity. Disruptions in the work of digital technologies lead to a decrease in the level of innovative activity due to the risk of cyberattacks and loss of information.
To form the adaptive capacity of enterprises in conditions of significant uncertainty and risks, it is advisable to combine different types of strategies that can provide the most guaranteed result. Taking into account the current global trends in the development of digitalization and Industry 4.0. and 5.0., domestic enterprises must take into account the above trends in their activities to maintain competitiveness in the international and domestic markets.
Despite the difficult operating conditions, according to official data, from 2015 to 2024, innovation spending by industrial enterprises was unevenly distributed, which is explained both by the impact of the COVID -19 pandemic and the beginning of a full-scale invasion of Ukraine. The main trends in innovation spending by enterprises are shown in Fig. 1.
As can be seen from the above data, in 2017, compared to 2016, the level of innovation spending decreased significantly, which is associated with the economic crisis. By the period of 2021, there is a gradual increase in innovation spending among industrial enterprises, where the decrease is associated with the pandemic, which significantly limited the possibilities of conducting foreign economic operations.
The period of 2022-2023 for Ukrainian enterprises is associated with the beginning of a full-scale invasion, which led to a deterioration in the situation with the possibility of innovative activities of enterprises, the loss of part of the industrial potential due to temporary occupation or destruction of businesses.
Figure 1. Dynamics of changes in innovation spending
by industrial enterprises (thousands of USD)
Source: summarized by the authors based on the Official website of the State Statistics Service of Ukraine. URL: https://stat.gov.ua
In 2024, compared to 2022, the level of innovation spending among industrial enterprises increased significantly by 116%, which is explained by the adaptation of businesses to new operating conditions.
Thus, during this period, some enterprises that relocated their facilities to calmer regions from areas of active hostilities or temporary occupation were able to resume their activities and attract investments for business development. In general, a significant role was played by state policy aimed at supporting business at this time, by providing tax benefits, creating conditions for attracting foreign investments, attracting grant support for the development and support of business initiatives.
This balanced state support contributed to the activation of enterprises in the direction of implementing innovative technologies, which had a positive impact on the total number of innovatively active industrial enterprises (Fig. 2).
Fig. 2. Dynamics of the number of innovatively active industrial enterprises (units)
Source: summarized by the authors based on the Official website of the State Statistics Service of Ukraine. URL: https://stat.gov.ua
In 2024, compared to 2023, the number of innovatively active industrial enterprises increased by 74%. European integration processes have influenced the innovative activity of enterprises, taking into account the strengthening of competitiveness in foreign markets. One of the aspects of the intellectual and innovative development of enterprises is the patenting and licensing of inventions, which allows securing property rights and commercializing activities.
In Ukraine, in the period 2015-2019, there was a trend towards an increase in the number of utility model applications from national applicants; however, since 2020 their number has significantly decreased by 39% compared to 2019. This trend is associated with the pandemic and the difficult economic conditions that arose at that time. For the period 2015-2024, the lowest level of these applications was observed in 2022, which is associated with the war in the country. Despite the difficult economic and security conditions of operation, enterprises continue to carry out their activities and implement innovative technologies.
Fig. 3. Dynamics of utility model applications from national applicants (units)
Source: summarized by the authors based on the Official website of the State Statistics Service of Ukraine. URL: https://stat.gov.ua
These trends indicate the special conditions for business operations in Ukraine in an unstable security and economic situation. Therefore, enterprises must take into account these conditions when shaping and choosing certain strategies for their development. Thus, with increasing risks and threats, enterprises must take into account aspects in their strategies that increase the stability and rapid reconfiguration of supply chains, areas of energy consumption autonomy, etc.
The issue of ensuring human resource potential based on the implementation of intellectual strategies that focus on employee retention, programs to attract creative youth, and the formation of corporate knowledge systems is considered.
The European integration vector requires adaptation and compatibility with the practices of innovation ecosystems with the EU, cooperation tools and innovation policy. The implementation of innovations should be based on considering their effectiveness (productivity, export, security, energy efficiency, etc.). It is important to focus on digital solutions that allow the use of modern technologies to increase the productivity and efficiency of management decision-making, personal data protection. The choice of the adaptive management strategy for each enterprise is individual, taking into account its capabilities, the influence of the external environment, the ability and flexibility in decision-making and the ability to quickly reorient production needs. The algorithm for the interaction of intellectual and innovative strategies for enterprise development is summarized in (Fig. 4).
Fig. 4. Interaction of intellectual and innovative strategies in adaptive enterprise management
|
Monitoring (data, state of the environment) |
|
External environment (risk, threats, opportunities) |
|
Diagnostics (assessment of the condition, potential, stability, deviations) |
|
Adaptive Development Management |
|
Intelligent Strategies human capital; knowledge management; Structural capital |
|
Innovation strategies digital transformation; ecosystems; Commercialization |
|
Process optimization |
|
Innovation (product, process, business model) |
|
Development results (sustainability, competitiveness) |
|
Strategy monitoring (correction) |
Source: author's development
The external environment, taking into account consumers, competitors, technologies, and market conditions, influences the direction of innovative business development. The presence of its own capabilities and the development of the startup project market determine the readiness of the enterprise to implement certain innovative solutions.
Depending on the internal potential, enterprises can introduce innovations both externally and internally, taking into account the level of technology readiness and business risks. The enterprise must determine the types of innovations that allow it to achieve its goal in the direction of planned transformations.
Intelligent strategies are aimed at optimizing production and operational processes using digital solutions that allow processing large data sets, based on the use of software products to model business development processes. These technologies allow for faster and more efficient management decisions, which positively affects business flexibility in conditions of instability and uncertainty of the external environment.
Innovation strategies are more focused on improving technical and technological processes, products and services in order to create competitive advantages in the market. In the direction of innovation strategies, enterprises choose strategies based on the goal of innovative development and resource capacity of the business.
The choice of strategic alternatives depends on the state of the external environment in which the enterprise operates, including both risks, threats and opportunities. It also requires diagnostics of the state of functioning of the enterprise itself to determine its potential opportunities and reserves for development and implementation of changes.
The main directions of innovative and intellectual strategies in adaptive management of enterprise development should take into account the following aspects:
-process and operational innovations;
-innovations in the digitalization;
- product and technological innovations;
-expansion of ecosystems;
-resource-saving technologies.
-human capital strategy;
-knowledge management;
-IP strategies.
Each of the above areas allows enterprises to ensure stable long-term development with the complementation of international experience and modern digital solutions in the activities of Ukrainian business. Thus, innovation strategies are mostly aimed at automation and digitalization of workplaces and processes, which contributes to improving quality and productivity. Product and technological innovations are aimed primarily at modifying materials, structures, new sales markets. In recent years, the expansion of ecosystems of various directions has been popular; in matters of business development, they are focused on rewarding cooperation between business, universities, startup projects, creating joint laboratories, etc.
JSC "Farmak" is one of the leading Ukrainian pharmaceutical enterprises with a powerful scientific and production base and a wide product portfolio, which includes drugs for various therapeutic areas (Table 2). JSC "Farmak" demonstrates a high level of innovative activity, combining significant investments in research and development, modernization of laboratories and digitalization of processes with the active introduction of new products to the market.
Table 2. Financial results and innovation and investment potential
of the JSC "Farmak"
|
Indicator |
2022 |
2023 |
2024 |
Change 2024–2022 |
Change 2024–2023 |
|
Cost of goods sold, thousand USD |
113687 |
109972 |
132934 |
19247 |
22962 |
|
Net profit, thousand USD |
46474 |
38594 |
42915 |
-3559 |
4321 |
|
Reinvestment, thousand USD |
38388 |
32187 |
38495 |
107 |
6308 |
|
Share of profit allocated to development, % |
82.6 |
83.4 |
89.7 |
7.10 |
6.30 |
|
Share of investments in cost price, % |
33.77 |
29.27 |
28.96 |
-4.81 |
-0.31 |
Source: calculated by the authors based on the reports of JSC Farmak (https://farmak.ua/)
The enterprise applies adaptive management strategies that allow it to promptly respond to changing market conditions and technological challenges, concentrating resources on key areas of intellectual and innovative development. This approach ensures both the increase in the efficiency of production and scientific and research activities, and maintaining competitiveness in the national and international pharmaceutical market (Fig. 5). The dynamics of cost, which increased from 113,687 thousand USD to 132,934 thousand USD, indicates an expansion of the scale of activities and an increase in the resource intensity of production in the context of modernization and technological renewal. The parallel growth of net profit to 42,915 thousand USD in 2024 demonstrates the ability of the enterprise to maintain financial stability and generate internal sources of development.
Fig. 5. Dynamics of the main performance indicators of JSC «Farmak», 2022-2024
Source: calculated by the authors based on the reporting of the joint-stock company "Farmak" (https://farmak.ua/)
The calculated volume of possible reinvestment at the level of up to 90% of profit confirms an aggressive innovative and intellectual financing model, in which most of the financial result is directed to research, technology and infrastructure (Table 3).
Table 3. Structure of innovation and investment resources
of the JSC "Farmak"
|
Indicator |
2022 |
2023 |
2024 |
Change 2024–2022 |
Change 2024–2023 |
|
Reinvested profit in development, thousand USD |
38388 |
32187 |
38495 |
107 |
6308 |
|
R&D expenses, thousand USD |
20019 |
14560 |
16271 |
-3748 |
1711 |
|
New drugs, units |
17 |
18 |
21 |
4 |
3 |
|
Reinvestment per 1 drug, thousand USD |
2258 |
1788 |
1833 |
-425 |
45 |
Source: calculated by the authors based on the reports of JSC "Farmak" ( https://farmak.ua/ )
The share of reinvestment in the cost price, which decreased from 33.77% to 28.96%, can be interpreted as a manifestation of management adaptability, when the growth of production costs is accompanied by a more efficient use of innovative investments.
The indicators in Figure 6 analyze the internal sources of financing for the development of the enterprise and their correlation with the scale of innovation activity. Data on reinvested profit indicate a stable increase in financial resources aimed at development, which is consistent with the corporate policy of reinvesting up to 90% of net profit.
Fig. 6. Dynamics of indicators of innovation and investment resources of JSC "Farmak", 2022-2024
Source: calculated by the authors based on the reporting of the joint-stock company "Farmak" (https://farmak.ua/)
The parallel maintenance of R&D costs at the level of about 15 million US dollars each year and the stable release of up to 20 new drugs indicate a structured and consistent innovation strategy of the enterprise. The indicators of reinvestment per drug demonstrate the growth of resource support for each innovation project, which reflects the increased requirements for scientific complexity and technological novelty of products (Table 4).
Table 4. Distribution of reinvested profits by areas of innovative development of
JSC "Farmak", thousand USD
|
Direction |
2022 |
2023 |
2024 |
Change 2024–2022 |
Change 2024–2023 |
|
R&D projects and development of new drugs |
17275 |
11804 |
15285 |
-1990 |
3481 |
|
Modernization of laboratories and equipment |
9597 |
6558 |
8491 |
-1106 |
1933 |
|
Digitalization and automation of processes |
5758 |
3935 |
5095 |
-663 |
1160 |
|
Licensing and scientific partnerships |
3839 |
2623 |
3397 |
-442 |
774 |
|
Other innovative programs |
1919 |
1312 |
1698 |
-221 |
386 |
|
Total reinvested |
38388 |
26232 |
33966 |
-4422 |
7734 |
Source: calculated by the authors based on the reporting of the joint-stock company "Farmak" (https://farmak.ua/)
The indicators in Figure 7 allows to analyze the internal structure of the innovative and intellectual strategy of the JSC "Farmak" through the distribution of reinvested profits between key areas of development. The overwhelming share of funds is systematically directed to R&D projects and the development of new drugs, which confirms the priority of the scientific core in the enterprise's development model. Significant investments in the modernization of laboratories and the digitalization demonstrate an orientation towards technological adaptation and increasing the efficiency of the research infrastructure. Stable financing of scientific partnerships and licensing emphasizes the openness of the innovation model and integration into international scientific networks. The overall dynamics of expenses by area indicates a balanced structure of the innovation portfolio, which allows the enterprise to simultaneously support product, technological and organizational adaptation. The analysis confirms that the adaptive management of the development of the JSC "Farmak" is based on a diversified portfolio of innovative projects, capable of responding to changing regulatory requirements, market trends and technological breakthroughs. A high share of profits directed to development, combined with stable investments in research and a wide network of international scientific partnerships, allows us to consider the company's model as an example of long-term-oriented adaptive management, in which financial results are transformed into the accumulation of intellectual capital, the expansion of scientific infrastructure and increased technological autonomy.
Fig. 7. Dynamics of distribution indicators of reinvested profits of JSC «Farmak»,
thousand USD, 2022-2024
Source: calculated by the authors based on the reporting of the joint-stock company "Farmak" (https://farmak.ua/)
The analysis of the activities of the JSC "Farmak" shows that the company implements a systemic innovative and intellectual strategy, built on large-scale internal financing of development through the reinvestment of most of the net profit. The growth of cost is accompanied by an increase in profit, which forms the financial basis for sustainable innovative development. The increase in the volume of resources for one new product and the stable release of new drugs demonstrate the transition to a more science-intensive and technologically complex growth model. The structure of the distribution of investments between R&D, infrastructure, digitalization and partnerships confirms the comprehensive nature of the company's innovation policy. Taken together, this allows us to conclude that the adaptive management of the development of the JSC "Farmak" is based on the flexible redistribution of financial and intellectual resources in response to external challenges, which ensures the long-term competitiveness of the company and corresponds to the concept of innovative and intellectual strategies, which is the basis of the study.
The experience of the JSC "Farmak" shows that the application of a systemic innovation and intellectual strategy with active reinvestment of profits, balanced allocation of resources between R&D, infrastructure, digitalization and partnerships, as well as support for technologically complex and knowledge-intensive developments, can serve as a model for other enterprises. This approach demonstrates that flexible and adaptive management of financial and intellectual resources allows to increase innovation capacity, ensure sustainable growth and long-term competitiveness, as well as to form a culture of strategic development planning that is able to effectively respond to external challenges and market changes. This creates a practical basis for borrowing similar mechanisms of adaptive management from other enterprises that seek to integrate innovations into their own business model.
Intellectual strategies include measures aimed at developing and preserving human capital through improving training programs, expanding competencies, which significantly increases the level of human resources. This should be based on the implementation of a knowledge management strategy that allows you to create competitive advantages, replacement plans, etc. In the context of intellectualization of capital, an important role is played by the capitalization of developments, the improvement of domestic regulatory and legal support for the field of licensing and patenting with international requirements.
For Ukrainian enterprises, taking into account the state of the economic, social and security aspects, it is advisable to use the following business development strategies within the framework of adaptive management in the long term.
The choice of an innovative and intellectual direction strategy largely depends on the purpose of its implementation - maintaining the current level of development and markets, improving products and services for the existing market, to maintain competitiveness, implementing innovative ideas and projects that radically change the market and product, new technologies and processes. Enterprises in conditions of rapid technological development must use directions that form competitive advantages and are the basis for their stable development in order to maintain the level of competitiveness.
Depending on the goal and own capabilities, enterprises in risk conditions usually use different approaches to management:
-establishing cooperation with other large companies that are able to quickly implement innovative projects in exchange for favorable terms of cooperation. This tactic is suitable for enterprises that have a low level of development potential and their own resources for the implementation of new projects;
-strategy of acquisition by external innovative companies engaged in the implementation of startup projects. However, these strategies require a balanced policy in determining strengths and weaknesses, compliance with corporate culture in order to avoid conflicts of interest;
-a strategy of copying innovative projects of competitors with their further improvement at the expense of their own operational advantages. This strategy is appropriate for enterprises that have their own resources in sufficient quantity for their further improvement and development. It is important to understand the shortcomings in the innovative development of the competitor to eliminate and improve them to form competitive advantages, otherwise the products may be undemanded in the market, which will lead to loss of profits.
Conclusions
Innovation strategies are currently a key element of the business development management system, as they allow you to determine the main goal of their implementation, convey the directions of its achievement to employees, and form the stages of achieving the set goal. The external environment of the enterprise determines the overall strategy of its development and subsequently forms the basis for intellectual and innovative strategies and goals of the company, which allow you to ensure competitive advantages in the face of risks and threats.
Innovative and intelligent strategies require the use of appropriate mechanisms for assessing the effectiveness of their implementation, through the formation of an appropriate assessment system, which allows for timely identification of bottlenecks and tools for their correction. Depending on the development potential and available opportunities, enterprises independently determine the type of strategic management (cooperation with other companies or their own developments).
For Ukrainian enterprises, it is advisable to implement innovative and intellectual strategies in appropriate directions, depending on the capabilities of the business - transformational strategies aimed at creating a new product or improving existing technologies, which allow them to quickly adapt and recover from existing opportunities.
The experience of the JSC "Farmak" confirms that flexible and adaptive management of financial and intellectual resources allows to increase innovative capacity, ensure competitiveness, and form a culture of strategic development planning. This practice of adaptive management can be useful for other enterprises that seek to integrate innovations into their own business model.
Strategies for innovative development in the post-war period should form competitive advantages for business, correspond to the general strategic initiative of state policy, and not contradict European norms in the field of intellectual and innovative capital.
The feasibility of implementing innovative and intellectual strategies for enterprise development with an orientation towards the European vector of development, taking into account the general development strategy of the state, is substantiated.
It has been determined that the directions of adaptive management for each enterprise are individual in nature, taking into account its capabilities, the influence of the external environment, the ability and flexibility in decision-making, and the possibility of rapid reorientation of production needs.
References
