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Economic Analysis: Theory and Practice
 

Analysis of the innovation and investment strategy of a commercial organization

Vol. 14, Iss. 17, MAY 2015

PDF  Article PDF Version

Available online: 10 May 2015

Subject Heading: MANAGERIAL ANALYSIS

JEL Classification: 

Pages: 33-42

Smirnova O.A. Military Educational-Research Centre of Air Force - Air Force Academy named after Professor N.E. Zhukovsky and Y.A. Gagarin, Voronezh, Russian Federation
yarosolg@rambler.ru

Popova S.V. Military Educational-Research Centre of Air Force - Air Force Academy named after Professor N.E. Zhukovsky and Y.A. Gagarin, Voronezh, Russian Federation
psvbravo@mail.ru

Importance Instability and uncertainty of economic development cause the need for strategic management of a commercial organization. Given that traditional methods do not help to achieve the set goals, it is necessary to develop perspective instruments of innovation and investment strategy.
     Objectives The objectives of the study are to emphasize the advantages of innovative management, to determine the interrelation of the subject and the object of management, and, using the theory of clusters, to show the specific features of the mechanism for choosing and implementing the innovation and investment strategy when working out the priorities of a commercial organization's development.
     Methods In the study, we applied statistical and econometric analyses of theoretical and statistical data, and actual data on enterprises operating in various industries. The sampling is representative. The representativeness of the samples of statistical and accounting data and an expert analysis of special literature enabled to make reasonable theoretical generalizations, practical conclusions and recommendations.
     Results We have defined innovation methods of strategic management, developed a scheme and stages of the mechanism for choosing the innovation and investment strategy of a commercial organization in the region, and offered a process of the strategy management. The implementation of the strategy follows a strategic map.
     Conclusions and Relevance We based the processes of the strategy development and realization on the definition of the purpose of innovation management, on the search, development and assessment of the innovative idea and strategic alternatives, definition of methods of innovation management, design of the program of innovation management (strategic plan, business plan, strategic map), the organization of works on program implementation. The implementation of the innovation and investment strategy is an important factor for achieving success, especially in conditions of pressure of environmental factors and increased uncertainty level.

Keywords: innovation, investment, strategy, mechanism, cluster analysis, economic relations, strategic management

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