ASSESSMENT OF THE IMPACT OF INNOVATIONS ON THE SOCIO-ECONOMIC DEVELOPMENT OF ENTERPRISES IN THE CONDITIONS OF THE KNOWLEDGE ECONOMY

Аліна Сергіївна Машкіна

Abstract


The current state of world economic development leads to the emergence of new paradigms for innovations and the promotion of knowledge related to economic activity, which necessitates the determination of the parameters in which innovations will impact on the socio-economic functioning and development of individual enterprises as subjects of the development in the knowledge economy. The aim of the research. The purpose of this article is to evaluate the impact of innovativeness on the socio-economic development of enterprises in the conditions of the knowledge economy and to highlight the directions of such influence. The subject of the research is the influence of innovations on the development of the enterprise. The methods of the research. In the researched analysis of literary sources, correlation analysis and generalization were used. The hypothesis of the research: innovations contribute to the socio-economic development of enterprises. The statement of basic materials. The main research material. According to the Global Innovation Index (GII), Ukraine took 55th place among 37 countries with a group of economies with income below 132 economies. The main innovative advantages of Ukraine and weak points are identified. As a result of the correlation analysis of costs for innovations of industrial enterprises and the volumes of net profit of enterprises, it was found that innovations affect the volumes of net profit, however, this is not a key factor, but rather one of the factors of growth of the enterprise's profit. As a result of the correlation analysis of the costs of industrial enterprises for innovation and the volume of enterprises sales, it was determined that innovations contribute to the increase of the volume of sales, and, therefore, the growth of the scale of the enterprise, which, in turn, indicates socio-economic growth. A study of the place in the market of the most innovative enterprises of Ukraine determined that innovations contribute to the increase of capital. The originality and practical significance of the research. The conducted research confirms the need for the development of innovations to increase the company's profitability, strengthen competitive advantages and strengthen its position on the market. Conclusions and perspectives of further research. Innovation provides positive business outcomes, allowing them to have sustainable long-term growth, lower costs and automated work for employees. At the same time, innovation leads to increased costs that businesses incur in training staff to adapt to the innovation, or in other cases where the company has to hire new and skilled employees who can be trained and follow the innovation

Keywords


innovations, socio-economic development, innovativeness of enterprises, knowledge economy

References


State Statistics Service. (2020). Retrieved from: https://ukrstat.gov.ua/operativ/menu/menu_

u/ni.htm (date of application: 25 August 2023).

State Statistics Service. (2020). Costs for innovation of industrial enterprises by areas of innovative activity (2000-2020). Retrieved from: https://ukrstat.gov.ua/operativ/operativ2021/ni/vut_ippni/vut_ippni_20ue.xlsx. (date of application: 25 August 2023).

State Statistics Service. (2022). Net profit (loss) of enterprises by type of economic activity with distribution into large, medium, small and micro-enterprises. Retrieved from: https://ukrstat.gov.ua/operativ/operativ2021/fin/fin_new/chpr_ek_vsmm_2010_2020_ue.xlsx. (date of application: 25 August 2023).

State Statistics Service. (2022) Volume of sold products (goods, services) of economic entities by types of economic activity (2010-2022). Retrieved from: https://www.ukrstat.gov.ua/operativ/operativ2022/fin/pssg/orpsg_ek_2010_2021_ue.xlsx. (date of application: 25 August 2023).

Kuzmin, A. (2021). Top 100 most expensive brands of Ukraine. Glavcom. Retrieved from: https://glavcom.ua/economics/finances/top-100-naydorozhchih-brendiv-ukrajini-pidsumki-2020-roku-743881.html#google_vignette. (date of application: 25 August 2023).

Tyukha, I. V. (2012). Socio-economic development of the enterprise: essence and types of manifestations. Effective economy, 6. Retrieved from: http://www.economy.nayka.com.ua/

?op=1&z=1195. (date of application: 25 August 2023).

Bagheri, M., Mitchelmore, S., Bamiatzi, V. and Nikolopoulos, K. (2019). Internationalization Orientation in SMEs: The Mediating Role of Technological Innovation. Journal Internation Management, 25, 121–139. https://doi.org/10.1016/j.intman.2018.08.002.

Castillo-Vergara, M., García-Pérez-De-Lema, D. (2021). Product innovation and performance in SMEs: The role of the creative process and risk taking. Innovation, 23, 470-488.

Chang-Muñoz, E.A., Guarín-García, A.F., Charris-Sevilla, Y., Gallego-Nicholls, J.F., Santos-Rojo, C. and Ortigosa-Blanch, A. (2023). Innovation Activities and Their Impact on Product Innovation Results: Evidence from a Sectoral Study. Sustainability, 15(8), 6459. https://doi.org/10.3390/su15086459.

Dempere, J., Qamar, M., Allam, H., Malik, S. (2023) The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective. Economies, 11(7), 182. https://doi.org/10.3390/economies11070182.

Global Innovation Index 2023. WIPO. Retrieved from: https://www.wipo.int/edocs/pubdocs/en/wipo-pub-2000-2023/ua.pdf. (date of application: 25 August 2023).

Innovation Index (2021). Retrieved from: https://mind.ua/ru/innovativeteams/index.

Sirimanne, S., Bell, B., Fajarnés, P., Gonzalez, A., Lim, M., Ok, T., Solomon, A., and Ting, B. (2018). Technology and Innovation Report 2018. Harnessing Frontier Technologies. United Nations Conference on Trade and Development-UNCTAD. Retrieved from: https://unctad.org/webflyer/technology-and-innovation-report-2018. (date of application: 25 August 2023).




DOI: https://doi.org/10.32620/cher.2023.3.02

Refbacks

  • There are currently no refbacks.