Planning of innovative activity based on management of strategic parameters of investment

Innovations management

The paper discusses the specifics of innovative management of an enterprise through the prism of strategic planning. An algorithm for strategic planning of innovative activity has been developed. We have proposed to use the network planning method, providing an example of its practical use. A special focus is on the strategy of selecting sources of financing for innovative activity of an enterprise, which allows to choose an investment source, a scheme of interaction with an investor and conditions for receiving investments for each phase of the innovation process. Modern enterprises develop and implement innovations in the conditions of constant uncertainty and variability of economic environment, which means that the existing methods and approaches to strategic planning of innovative activities should be improved, and new methods should be developed. Active development of the innovative component of the economy has a significant impact on intensified scientific research in the field of innovations and innovative projects. Even though the theory of innovation has been formulated with different areas and concepts developed within this theory, there is a certain lack of theoretical and practical works in the field of structural representation of strategic planning of innovative activity, involving management of strategic investment parameters through rational integration of strategic, innovation and project management. Indeed, considering the concept of commercialization of innovation, which involves obtaining some positive economic effect, the task of selecting sources of financing for an innovation and investment project arises. The integrative approach to management of strategic parameters covers not only the list of investment objects, but also sources of financing, which leads to broadly interpreting the parameter system under consideration and conducting research in developing project evaluation models from the standpoint of a unified view of capital investment and sources of investment). An efficiently functioning mechanism for investing in innovative projects that ensures strategic development of innovation through an optimal financing system necessitates finding ways to improve the methodological framework for evaluating the effectiveness of innovative investment projects to promote growth and strategic development of economic entities, which is why the study is relevant.