ESSENCE AND ROLE OF DEVELOPMENT OF INNOVATIVE ACTIVITY IN MODERN REALITIES

Abstract

The article analyzes the current situation of enterprises and identifies the direction of development of innovation in Ukraine, it is established that the development of innovation requires a favorable infrastructure where technology could not only emerge but also receive further development. Studies of the dynamics of key economic processes conducted by scientists show that innovation is a powerful factor in economic prosperity. It is very important to accelerate and stimulate the development of enterprises in Ukraine on an innovative basis. Currently, in the process of increasing the competitiveness of the economy, national the innovation system (NIS) has not yet yielded significant results. The assumption that the development of an effective management methodology and recommendations to ensure the process of continuous innovative development will make it possible to balance the micro economy and get an added effect from coordinated and integrated actions of economic entities, serves as a working hypothesis when writing an article. Insufficient funding for science, technology and innovation has led to the collapse of a number of important scientific developments. Due to the low level of production base and insufficient state funding for research, the available resources and technological capabilities do not meet modern requirements and European standards. We have considered the main factors that inhibit the acceleration of innovative development of domestic enterprises. Innovation is identified as a key element in ensuring the success and sustainability of the enterprise. A low level of use of scientific knowledge and a very slow growth of innovative production characterize modern realities of the time in Ukraine and the economy as a whole. In terms of the general level of innovation, Ukraine lags far behind the standards of the European Union. The essence and types of innovative activity in the scientific literature are investigated. The analysis revealed the main characteristics of the current level of development of innovation in the country. The state of innovative activity of Ukrainian enterprises is analyzed and measures to improve it are proposed, taking into account the challenges of today.