MODELS AND TOOLS FOR INNOVATIVE BUSINESS DEVELOPMENT IN THE DIGITAL ECONOMY
Abstract
The article summarizes contemporary models of innovative development and systematizes business innovation tools in the digital economy. It argues that the growing role of data, network effects and digital ecosystems is reshaping sources of competitive advantage and increasing requirements for speed, scalability, and governance of innovation. The paper clarifies the practical meaning of key innovation process models in a digital context, where value creation increasingly depends on platform logic, continuous customer feedback and rapid experimentation supported by digital technologies. A three-level classification of innovation tools is proposed. Іncluding foresight activities and the development of technology roadmaps, innovation portfolio management, risk-informed prioritization, and digital maturity assessment. The paper also covers such innovation development instruments as design thinking, Agile/DevOps, open innovation, and corporate venturing projects aimed at reducing the risk of developing solutions without validated demand and supporting radical initiatives alongside core operations. Together, they help align innovation priorities with real market opportunities and resource constraints. Open innovation mechanisms and corporate entrepreneurship tools are seen as ways to expand access to external knowledge, partners, and talent, while reducing risk and enabling more radical initiatives without compromising core business. Generalized concept is formulated to describe innovation management as an integrated chain, enabling consistent coordination between managerial decisions, execution practices and analytical support. The article also addresses the specifics of innovation management under uncertainty and limited resources, which is particularly relevant for Ukrainian enterprises, and outlines practical directions such as rapid hypothesis testing, partnership-based access to technologies and capability building. In addition, approaches to assessing innovation effectiveness at the strategic level are suggested, combining input, process, and outcome indicators. Criteria for evaluating the compliance of innovations with the digital context include platform readiness, API-oriented architecture, data availability and quality, cybersecurity, privacy, and ethical requirements.
References
Javaid M., Haleem A., Singh R. P., Sinha A. K. Digital economy to improve the culture of industry 4.0: A study on features, implementation and challenges. Green Technologies and Sustainability. 2024. Vol. 2, no. 2. Art. 100083. DOI: https://doi.org/10.1016/j.grets.2024.100083.
Hulugh T., Busari E. Agile Project Management in Developing Business-Centric Information Systems. International Journal of Research Publication and Reviews. 2024. Vol. 5, no. 11. P. 5083–5098. DOI: https://doi.org/10.55248/gengpi.5.1124.3332.
Chen F., Lin Z., Li X. Research on the emerging technological intervention models in design education from a strategic perspective of global design education institutions. Scientific Reports. 2025. Vol. 15. Art. 41366. DOI: https://doi.org/10.1038/s41598-025-25272-1.
Ghazinoory S., Ranjbar A., Fatemi M. Developing a maturity model to evaluate innovation policy across generations. International Journal of Innovation Science. 2025. P. 1–25. DOI: https://doi.org/10.1108/IJIS-11-2024-0338.
Vărzaru A. A., Bocean C. G. Digital Transformation and Innovation: The Influence of Digital Technologies on Turnover from Innovation Activities and Types of Innovation. Systems. 2024. Vol. 12, no. 9. Art. 359. DOI: https://doi.org/10.3390/systems12090359.
Al Nawaiseh K. Mapping the Impact of Business Model Innovation on Firm Productivity: A Bibliometric Analysis and Global Perspective. Journal of Risk and Financial Management. 2025. Vol. 18, no. 12. Art. 723. DOI: https://doi.org/10.3390/jrfm18120723.
Linares-Barbero C., De La Vega I. The Impact of Strategic Foresight on Innovation: A Systematic Literature Review. IEEE Engineering Management Review. 2025. Vol. 53, no. 4. P. 218–245. DOI: https://doi.org/10.1109/EMR.2024.3454630.
Minimum viable product. IdeaFlow. URL: https://ideaflow.technoevangelist.in/minimum-viable-product/ (дата звернення: 20.12.2025).
Ndou V., Ingrosso A., Di Girolamo A. Framework for Agile Transformation: Guiding Organizations Through Cultural, Structural, and Competency Shifts in Project Management. Administrative Sciences. 2024. Vol. 14, no. 11. Art. 301. DOI: https://doi.org/10.3390/admsci14110301.
Miroshnychenko O. Open innovation practice: channels for collaboration and opportunities for Ukraine. Theoretical and Applied Issues of Economics. 2023. DOI: https://doi.org/10.17721/tppe.2023.47.14.
Madanchian M., Sana S., Srinivasan A., Vijayakumar H., Vameghasri K., Thakur N. V. Multi-Stage Digital Transformation Maturity Model: Strategic Paths and Operations Management Implications. Systems. 2024. Vol. 12, no. 10. Art. 429. DOI: https://doi.org/10.3390/systems12100429.
Business Model Innovation: A Guide for 2026 . StartUs Insights. URL: https://www.startus-insights.com/innovators-guide/business-model-innovation-full-guide/ (дата звернення: 20.12.2025).
Савицька Н., Полевич А. Цифрова трансформація бізнесу: наукові підходи та інструменти для сталого розвитку. Український журнал прикладної економіки та техніки. 2025. Т. 10. № 3. С. 230–233. DOI: https://doi.org/10.36887/2415-8453-2025-3-45.
Heikkilä M., Heikkilä J., Ahmad F. Data-Driven Business Model Innovation in Europe: Ethical Data Practices and Ecosystem Involvement. Systems. 2025. Vol. 13, no. 3. Art. 164. DOI: https://doi.org/10.3390/systems13030164.
Karstegl N., Enjolras M., Mayer F. Exploring innovation management systems: A systematic literature review and bibliometric analysis. Journal of Engineering and Technology Management. 2025. Vol. 76. Art. 101876. DOI: https://doi.org/10.1016/j.jengtecman.2025.101876.
Javaid, M., Haleem, A., Singh, R. P., & Sinha, A. K. (2024). Digital economy to improve the culture of industry 4.0: A study on features, implementation and challenges. Green Technologies and Sustainability, 2(2), 100083. https://doi.org/10.1016/j.grets.2024.100083
Hulugh, T., & Busari, E. (2024). Agile project management in developing business-centric information systems. International Journal of Research Publication and Reviews, 5(11), 5083–5098. https://doi.org/10.55248/gengpi.5.1124.3332
Chen, F., Lin, Z., & Li, X. (2025). Research on the emerging technological intervention models in design education from a strategic perspective of global design education institutions. Scientific Reports, 15, 41366. https://doi.org/10.1038/s41598-025-25272-1
Ghazinoory, S., Ranjbar, A., & Fatemi, M. (2025). Developing a maturity model to evaluate innovation policy across generations. International Journal of Innovation Science, 1–25. https://doi.org/10.1108/IJIS-11-2024-0338
Vărzaru, A. A., & Bocean, C. G. (2024). Digital transformation and innovation: The influence of digital technologies on turnover from innovation activities and types of innovation. Systems, 12(9), 359. https://doi.org/10.3390/systems12090359
Al Nawaiseh, K. (2025). Mapping the impact of business model innovation on firm productivity: A bibliometric analysis and global perspective. Journal of Risk and Financial Management, 18(12), 723. https://doi.org/10.3390/jrfm18120723
Linares-Barbero, C., & De La Vega, I. (2025). The impact of strategic foresight on innovation: A systematic literature review. IEEE Engineering Management Review, 53(4), 218–245. https://doi.org/10.1109/EMR.2024.3454630
IdeaFlow. (n.d.). Minimum viable product. Available at: https://ideaflow.technoevangelist.in/minimum-viable-product/ (accessed December 20, 2025)
Ndou, V., Ingrosso, A., & Di Girolamo, A. (2024). Framework for agile transformation: Guiding organizations through cultural, structural, and competency shifts in project management. Administrative Sciences, 14(11), 301. https://doi.org/10.3390/admsci14110301
Miroshnychenko, O. (2023). Open innovation practice: Channels for collaboration and opportunities for Ukraine. Theoretical and Applied Issues of Economics. https://doi.org/10.17721/tppe.2023.47.14
Madanchian, M., Sana, S., Srinivasan, A., Vijayakumar, H., Vameghasri, K., & Thakur, N. V. (2024). Multi-stage digital transformation maturity model: Strategic paths and operations management implications. Systems, 12(10), 429. https://doi.org/10.3390/systems12100429
StartUs Insights. (n.d.). Business model innovation: A guide for 2026. Available at: https://www.startus-insights.com/innovators-guide/business-model-innovation-full-guide/ (accessed December 20, 2025)
Savytska, N., & Polevych, A. (2025). Tsyfrova transformatsiia biznesu: naukovi pidkhody ta instrumenty dlia staloho rozvytku [Digital business transformation: scientific approaches and tools for sustainable development]. Ukrainskyi zhurnal prykladnoi ekonomiky ta tekhniky, 10(3), 230–233. https://doi.org/10.36887/2415-8453-2025-3-45 (in Ukrainian)
Heikkilä, M., Heikkilä, J., & Ahmad, F. (2025). Data-driven business model innovation in Europe: Ethical data practices and ecosystem involvement. Systems, 13(3), 164. https://doi.org/10.3390/systems13030164
Karstegl, N., Enjolras, M., & Mayer, F. (2025). Exploring innovation management systems: A systematic literature review and bibliometric analysis. Journal of Engineering and Technology Management, 76, 101876. https://doi.org/10.1016/j.jengtecman.2025.101876
This work is licensed under a Creative Commons Attribution 4.0 International License.
