The Role of Innovation Strategy in Enterprise Development

Abstract

In this article are discribed the importance of innovation strategy as a key factor in the sustainable development of modern enterprises. The theoretical approaches to the concept of innovation strategy, its types and mechanisms of implementation are analyzed. The advantages of introducing innovative approaches to the management of an organization are also presented, including increasing competitiveness, adapting to changes in the external environment, reducing costs and entering new markets. The necessity of forming an innovative culture as an element of strategic management is substantiated.