CONTROLLING OF INNOVATION ACTIVITY AS A COMPONENT OF MODERN BUSINESS MODELS OF COMPANIES

Abstract

In modern economic conditions, the innovative activity of enterprises acquires strategic importance as a fundamental factor of their competitiveness, market adaptability, and long-term sustainable development. Global destructive processes in the economy, rapid digital transformation, and the ever-increasing uncertainty of the external business environment necessitate the formation and implementation of highly effective mechanisms for managing innovation processes. This article substantiates that one of the most viable mechanisms is controlling – an integrated system that provides continuous information and analytical support for managerial decision-making in the field of innovation. The study emphasizes that the integration of innovation activity controlling into the structure of modern corporate business models enables enterprises to significantly improve resource management efficiency, precisely identify and minimize potential risks at every stage of the innovation project lifecycle, and ensure the successful achievement of strategic corporate goals. Furthermore, the article provides a comparative analysis of traditional and innovation-oriented controlling, highlighting the shift towards process-focused evaluation, continuous adjustment of objectives, and multi-stage performance reviews. Special attention is given to the two-level architecture of controlling, which encompasses both strategic and operational dimensions, ensuring that innovation strategies align seamlessly with resource availability and market demands. The authors also explore the profound impact of digitalization on controlling systems, advocating for the adoption of modern IT solutions, ERP platforms, Business Intelligence tools, and Big Data analytics to enhance real-time decision-making transparency. Moreover, the research highlights the critical importance of incorporating ESG (Environmental, Social, and Governance) metrics into the strategic controlling framework, aligning corporate innovation efforts with global sustainability standards. Ultimately, the paper concludes that overcoming existing institutional and infrastructural barriers in Ukraine requires a systemic approach to building adaptive, digitally integrated, and socially responsible business models centered around a robust innovation controlling mechanism.