TIME DESCRIPTION OF ECONOMIC REFORMS

Orientating to the innovative development and economic growth, provided by them, nowadays allows enterprises to achieve competitive advantages not only in the production and sale of products (projects, services), but above all in the methods of business development. The theory of innovative development in the economy, which is one of the main economic doctrines of modern times for a large number of countries in the world, is now only being formed in Ukraineand is in the stage of active development. Considering the features and problems of the innovation processes of domestic enterprises, there is a need to further develop their competitiveness for domestic and external markets. The purpose of the article is to develop the theoretical and methodological foundations in the field of enterprise development based on innovation, as well as to determine the role of innovation to ensure the stable development of the enterprise. The object of the study is the formation of an innovative strategy of the enterprise and its components for the implementation of an innovative project. Methods used in the research are a systematic approach, a method of generalization, comparison. The hypothesis of research is that innovation plays an important role in ensuring the stable development of the enterprise. The statement of basic materials. It is determined that innovative development is a consequence of innovative processes occurring in the enterprise. In its innovative development, enterprises go through a number of stages: research, development and implementation. The main properties of innovation are scientific novelty, practical applicability and commercial feasibility. The method of forming a strategy for the introduction of innovation, types of improvement of the competitiveness of the enterprise, stages and components of the innovation process are all considered, as well as factors that may affect the formation and outcome of the investment and innovation project. Originality and practical significance of the research. The article gives an idea of the role of innovation for a modern enterprise and helps to determine the main guidelines for the development and implementation of innovative solutions. The author reflects on the most important properties of economic innovation processes, which enables us to significantly distinguish them from other business processes. Conclusions of research. It was concluded that in the conditions of the modern economic environment, innovation for an enterprise is a necessary condition for survival.  However, by introducing innovations, managers of all levels are faced with the problem of uncertainty of new factors that have a significant impact on the progress of the innovation process and on the activity of the enterprise as a whole. The research results can be used in the development of strategies for the implementation of the innovation process in an enterprise of any form of organization.

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