Innovative strategies for building competitive advantages of industrial enterprises in crisis conditions

Darmoroz Petro
searcher of the "Economics and Management" department, Ukrainian State University of Science and Technologies, Dnipro, E-mail:petr_darmoroz@ukr.net, ORCID ID: https://orcid.org/0009-0004-6895-4502

Cite this article:

Darmoroz P. (2024) Innovative strategies for building competitive advantages of industrial enterprises in crisis conditions. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Innovatsiini stratehii formuvannia konkurentnykh perevah promyslovykh pidpryiemstv v umovakh kryzy; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 7-8 (320-321), pp. 127-135.

Abstract

The article examines current directions of innovative strategies for the formation of competitive advantages of industrial enterprises in crisis conditions, based on the economic efficiency of this process. The purpose of the article is to demonstrate the advantages and feasibility of increasing the competitiveness of industrial enterprises based on the development of technological innovations. To achieve the goal, the following tasks were solved: the essence and factors of competitiveness of the industry were determined; the possibilities and directions of cooperation of industries in the field of research and development work, which contribute to increasing competitiveness, are shown; the need and effectiveness of reducing the time period for the creation of new products based on the combination of the education system with the needs of production and the market, the widespread implementation of the idea of continuous education, and the development of information technologies are considered; the criteria of the industry's investment attractiveness are proposed, allowing to assess its economic condition and potential; the connection between increasing the competitiveness of the industry and its innovative and technological development is shown. Considering the peculiarities of the development of the economy of Ukraine at the current stage, all researchers agree that one of the most important problems today is the determination of the main vectors of the development of the national economy of the country, the determination of those branches of the national economy, the development of which will allow it to occupy a worthy place in the system of world economic relations. Research and economic substantiation of innovative strategies for the development of competitive advantages of industrial enterprises in modern conditions characterized by the turbulence of the main macroeconomic indicators. The research methodology involves the use of methods: empirical research (comparison, observation), theoretical research (ascending from the abstract to the concrete), general scientific methods (abstraction and concretization, analysis and synthesis, induction and deduction, analogy), etc. The urgency of solving the scientific problem defined in the article is that in the conditions of comprehensive limitation of financial resources, incl. those allocated to the development of the competitive advantages of industrial enterprises, on the one hand, and the need to ensure uninterrupted operation of the industrial complex, on the other hand, there was an urgent need to develop and justify innovative strategies for the development of their competitive advantages, which will also allow to attract as much as possible the production capacities of industrial enterprises that lose their competitive positions due to crisis phenomena in the national economy. The results of the study are as follows: it was determined that technological innovations ensure real competitiveness of products of various industries both on the domestic and foreign markets. One of the most important issues is investment support for innovative solutions. The priority of the transfer of technologies or independent developments is determined based on the importance of the field of development of the national economy of the country and its place in the comprehensive strategy of development and increasing the competitiveness of the national economy. The originality and practical value of the research lies in the fact that the article systematizes existing directions for the formation of competitive advantages of industrial products and industrial enterprises themselves, taking into account the specific features of their functioning. The conclusions of the study are as follows: it is shown that the development of the industry's competitiveness is directly related to its innovative development and, first of all, to technological innovations. The European choice of Ukraine necessitates its functioning in a high-tech competitive environment and requires the implementation of an innovative model of economic development. The results of the conducted research can be useful for enterprises of the industrial sector, organizations on the balance sheet of which there are objects of the industrial complex.

Keywords

innovative strategies, industrial enterprises, economic efficiency, competitiveness, competitive advantages, organizational and economic mechanism, development in crisis conditions.

JEL classification: L160; M210; D240; E320; O320; DOI: https://doi.org/10.32680/2409-9260-2024-7-8-320-321-127-135

UD classification: 658.012.2: 330.341.1

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