Innovative technologies in agribusiness: a role in improving efficiency and competitiveness

Dobrova Nataly
lecturer of Department of Economics, Law and Business Management, Odesa National Economic University, Odesa, Ukraine, E-mail:dobrovanataly1963@gmail.com, ORCID ID: https://orcid.org/0000-0002-1786-1291

Karazhiya Eduard
Senior Lecturer Department of Economics, Law and Business Management, Odesa National Economic University, Odesa, Ukraine, E-mail:edkarazhiya@gmail.com, ORCID ID: https://orcid.org/0000-0002-3609-2432

Cite this article:

Dobrova N., Karazhiya E. (2024) Innovative technologies in agribusiness: a role in improving efficiency and competitiveness. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Innovatsiini tekhnolohii v ahrobiznesi: rol u pidvyshchenni efektyvnosti ta konkurentospromozhnosti; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 5-6 (318-319), pp. 123-128.

Abstract

The article examines the role and prerequisites for the use of innovative technologies as a factor in increasing the efficiency and competitiveness of modern agribusiness. The purpose of the article is to study the role and prerequisites for the use of innovative technologies as a factor in increasing the efficiency and competitiveness of modern agribusiness. The process of searching for scientific and practical solutions is focused on analyzing the latest trends, opportunities and challenges associated with the introduction of innovative technologies in agribusiness. In the course of the study, the methodology of theoretical generalization, as well as analysis and synthesis, was used, which allowed to deepen and structure the understanding of the transformative potential of innovative technologies in agriculture at this stage of development of innovative technologies. The current knowledge about the transformative potential of technologies in improving the efficiency, competitiveness and sustainability of agribusiness has been expanded. Methodologically, the article uses a qualitative approach, which involves analyzing the latest research and industry data. This approach allows for a comprehensive understanding of the impact of innovative technologies on agribusiness. From a practical point of view, the article provides valuable recommendations for policy makers, researchers and practitioners. It emphasizes the need to invest in infrastructure, provide incentives, and conduct educational programs to promote innovation. It finds that innovative technologies play a crucial role in increasing the efficiency, competitiveness and sustainability of agribusinesses by optimizing production, improving transparency and traceability of processes, and contributing to environmental safety. This study adds value to the existing body of knowledge by providing a comprehensive analysis of the role and application of innovative technologies in agribusiness. By exploring the latest trends, opportunities and challenges associated with innovation, it lays the groundwork for further research and contributes to a deeper understanding of the transformative potential of technology in agriculture.

Keywords

innovative technologies, agribusiness, agriculture, agricultural production, efficiency, competitiveness.

JEL classification: O320; Q130; Q190; DOI: https://doi.org/10.32680/2409-9260-2024-5-6-318-319-123-128

UD classification: 338.43, 631

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