Factors That Determine the Innovative Activity of Enterprises

Abstract

The article highlights the significant changes in industrial capacities in terms of quality and quantitative indicators, the implementation of institutional changes in the economic system, the use of existing forms and methods of economic development, emerging and developing in a competitive market. There is also a need for a definitely scientific analysis of the problem of the interconnectedness of competitive economies, which requires the joint study of objective and subjective factors that determine the competitive advantages of national economies and the competitiveness of industrial enterprises in the context of market transformations. The most important function of modern management is market development, rapid adaptation to the market conditions, and strict adherence to management principles in a market economy.

Concerning a broader understanding of managing, we note that this is a concept of social management, and thanks to its help, individuals and groups of individuals are involved in activities that they are required to earn. In this process it is necessary to use existing resources to meet modern requirements. This necessitates demands the further development and improvement of the management system. It is required to create industrial clusters of new economic growth centers to ensure the effectiveness of innovation processes on the basis of coordination of business entities and consumers of industrial products. This, in turn, contributes to the transition from quantitative changes to new quality changes, as well as promotes future competitiveness and determines the long-term development strategy for oil and gas companies. Each enterprise is indirectly influenced by the effective governance of various types of entities, with its economic benefits. At the final stage of this type of organizational and economic mechanism, the results of innovative processes management based on economic and socio-cultural indicators will be assessed.