CONCEPTUAL FOUNDATIONS OF MANAGEMENT OF INNOVATION ACTIVITY, INNOVATIVE DEVELOPMENT OF ENTERPRISES IN THE CONTEXT OF DIGITALIZATION OF BUSINESS AND EUROPEAN INTEGRATION

Abstract

The article studies the conceptual foundations of management of innovation activity, innovative development of enterprises in the context of digitalization of business and European integration. The relevance of the topic of the study is due to the fact that in the current conditions of European integration and digitalization with the intensive introduction of new digital technologies in all areas of functioning and in the production, operational, commercial activities of enterprises, the issue of developing new products, processes and introducing innovative activities in order to ensure further innovative development of enterprises acquires a new role and importance. The article is aimed at  considering the conceptual foundations of management of innovation activity, innovative development of enterprises in the context of digitalization of business and European integration. The methodological basis of the study was the methods of formalization and unification, generalization, observation, abstraction, comparison, as well as complex, systemic, process scientific approaches were applied. The scientific results obtained consist in the fact that the article reveals the main stages of innovation activity of the enterprise: formation of an idea, initiation of development and implementation of innovation, assessment of market demand for innovation and feasibility and possibilities of their development and implementation; conducting fundamental and applied scientific research, checking opportunities for implementation; carrying out research and development work on the creation of new products; preparation of production facilities for further production of new innovative products; production of new innovative products; commercialization of innovation, which involves the organization, promotion and sale of new products, obtaining income, profit and return on investment. Prospects for further research lie in  the expediency of further consideration of issues in the areas of investment support of innovation activity, innovative development of enterprises, as well as the study of risks of innovation activity and management of innovative development processes with the development and implementation of a strategy for innovative development of enterprises, which is of particular importance in the conditions of growing competition and in domestic and international markets related to  European integration of Ukraine into the international economic space and the active introduction of new innovative digital technologies in the context of digitalization of business in Ukraine.