Conceptual Approaches to the Development of a Strategy for Innovation and Investment Activity in a Food Enterprise

Abstract

The variability and uncertainty of the external environment inherent in business activities determine a high level of risk and enhancing the role of strategic planning as a special tool for adapting to the external environment. The purpose of the scientific research was to form a conceptual approach to the process of developing a strategy for innovation and investment activity of a food enterprise. During the study of the study’s theoretical basis, it was determined that the issues of strategic planning of the enterprise as a whole and individual economic functions, in particular innovation, were developed by many foreign and Ukrainian researchers. However, for the most part in the literature, innovation and investment strategies are considered separately, at the same time they are closely related, and the implementation of an innovation project can be considered as an implementation of an investment project. In recent times, the concept of innovation and investment activity has appeared in the literature, but the methodology for rational organization of such activity has not been sufficiently developed. In the course of the research, three main approaches to developing a strategy for innovation and investment activity were described, also our own fourth approach was formulated. The analysis of methodological principles that are the basis for building strategies for innovation and investment activity was also carried out. It was concluded that the effectiveness of the strategy development process depends on the creation of a system of its information support. At the same time, increasing the productivity of innovation and investment activities of individual enterprises will help to increase the number of enterprises engaged in such activities, which will have a positive impact on the country’s economy as a whole. The practical significance of the study lies in the fact that the considered strategies of innovation and investment activity can be used in the activities of relevant enterprises