Subject The article presents an improved methodology to assess innovative development of industrial enterprises. Objectives The purpose of the study is to prove the advantages of our own methodology for assessing the efficiency of enterprise innovative development on the case study of Russian metallurgical and metal processing company RUSPOLYMET. Methods The study employs methods of calculating the innovation indices and the integral index of innovative development, a method of assessing the innovative development level, method of moving curves and method of innovative capacity adequacy. We calculated the indicators using financial statements of RUSPOLYMET for the period from 2007 through 2015. Results We analyzed and assessed innovative activity of RUSPOLYMET for nine recent years, described the status of the company and made recommendations. The paper presents a short-term forecast and the strategy of innovative development of the company. Conclusions We present a new methodology to assess the efficiency of industrial enterprises’ innovative development, which is based on analyzing, generalizing and updating the existing methods. It may help company management to analyze innovative activity, identify strategy subject to financial and economic condition of the enterprise, promptly react to changes, and make rational decisions. The methodology may also be useful for State statistical authorities to monitor and assess innovation of industrial enterprises.
Keywords: innovative development, strategy, iron and steel works, innovation, innovative capacity
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