Economy and Management of an Innovative Enterprise

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This study examines issues in the economy and management of an innovative enterprise. In the current economic environment, the issues taken for consideration within the framework of this study are interrelated, and any attempt to study both the level of implementation of innovation in enterprises’ activities in various economic sectors and the state of their economic and management structures warrant a competent understanding and coverage of the study subject and the topic of the present study—economy and management of innovative enterprises. The present study aims to determine main trends in the relationship and interaction between the various economic and management systems deployed by enterprises to increase their profitability and efficiency. The study uses a systematic analysis of the performance of both the economic and management structures of an enterprise, regardless of the economic sphere or the business sector in which it operates. To begin with, in the absence of coordinated interaction between administrative and technological resources in an enterprise, its endeavors toward implementing innovative measures will become ineffective to a significant extent or even totally. The study determined that for an organization to succeed in implementing innovative measures at any level in the organization, such coordinated interaction should facilitate the development and implementation of an efficient system for distributing the organization’s production capital, both its tangible and intangible assets. Thus, a strong interrelationship in the activities of the economic and management systems of an innovative enterprise is crucial in assessing the effectiveness of the enterprise’s activities in the development and introduction of innovations and, in turn, their impact on the overall growth of the enterprise. The study recommends enterprises to apply the findings presented herein to get a better understanding of the interaction between the economic and management systems in order to implement innovations more effectively at any level within the enterprise, be it at the operational or functional level or at the management level.