THEORETICAL ASPECTS OF FINANCIAL SUPPORT FOR INNOVATIVE DEVELOPMENT OF ENTERPRISES
Abstract
The article presents modern trends of scientific research on the interpretation of economic content, essential content, role and importance of financial support for the innovative development of enterprises. The variety of views and the system of approaches to the theoretical foundations of financial support of innovation activities of enterprises are analyzed. The present Ukrainian business environment is characterized by significant turbulence and dynamism, requiring constant adequate response, adjustment of the organization of enterprise management, implementation of financial policy and financial support of activities and making appropriate decisions on the strategy for further development. Financial potential, the level of financial condition and financial support of enterprises determine the possibilities of their activities – from banal survival to competitive and effective functioning and sustainable development on innovative principles. The functioning of enterprises takes place in the conditions of dynamic scientific and technological progress, which is accompanied by the introduction of new equipment and technologies in order to improve technical and technological processes at enterprises. On such principles, the qualitative technological potential of enterprises is the key to their competitiveness and financial success. Modern dynamic conditions of functioning of enterprises require rethinking of economic content, essential content, role and importance of financial support for their innovative development. Financial resources are an important component of the system of financial support and innovative vector of economic progress of enterprises. The state of the innovative capacity of enterprises and the conditions for the functioning of industries are crucial for the formation and implementation of the innovative potential of enterprises and ensuring their competitive development. Transformational transformations taking place at the level of the global economy require new, extraordinary solutions and approaches to ensure advantages in competitive competition in the world market. For this, the necessary language is to ensure a high level of intellectualization of both control and playback processes. The introduction of innovative technologies and modern business models that make possible an innovative breakthrough and sustainable development of enterprises are the main trends in the innovative development of the national economy, which will ensure the growth of its competitiveness. That is, achieving a high level of innovation and ensuring on this basis the growth of competitive positions in the world market is a strategic course of the national economy, which requires an appropriate system of financial support. The existing tendencies of understanding the role of financial resources in the financial activities of enterprises and their importance in ensuring the innovative progress of the national economy have been identified. The theoretical principles of financial support of innovative development of enterprises are generalized and the conceptual – categorical apparatus of economic categories "financial resources of enterprises" and "financial support of innovative development of enterprises" is supplemented. It is substantiated that the financial support of innovative development of enterprises is a multi-factor system process that correlates with the global trend of innovative principles of sustainable economic development at the micro-macro and meso levels of the world economy.
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