Innovation Management of Enterprises: Legal Provision and Analytical Tools for Evaluating Business Strategies

Authors

1 Department of Economic Cybernetics and Marketing, Kyiv National University of Technologies and Design, Kyiv , Ukraine

2 Criminal Procedure Department, Odesa State University of Internal Affairs, Odesa, Ukraine,

3 Criminology and Criminal Enforcement Law Department, National University “Odesa Law Academy”,Odesa, Ukraine.

4 Administrative Law and Administrative Procedure Department, Odesa State University of Internal Affairs, Odesa , Ukraine.

10.22094/joie.2020.677820

Abstract

The article investigates the peculiarities of the enterprise's innovation activity and its legal regulation, conducts the evaluation of the business strategy for chemical companies according to the manufacturer’s principles of innovation management. The purpose of the paper is to evaluate the business strategy of chemical companies according to the manufacturer’s principles of innovation management. According to the evaluation results it is determined that the business strategy is unstable and needs to be improved. Also there are negative trends in the enterprise’s development and decrease in the efficiency. The complex of recommendations to improve the business strategy which forms the basis for the methodology of the selection the most objective strategic alternative in the chemical companies is proposed. To improve the strategy the authors suggested to expand enterprise’s market share and to implement intensity of product sale for different types of products; to consider the peculiarities of legal regulation for chemical industry in the field of innovative goods production; to keep the trend of production costs reduction; to seek ways to increase the profit of the enterprise by cost control and increasing sales.

Graphical Abstract

Innovation Management of Enterprises: Legal Provision and Analytical Tools for Evaluating Business Strategies

Keywords

References

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Journal of Optimization in Industrial Engineering
Volume 14, Special Issue
Winter and Spring 2021
Pages 71-78

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