Methodological Approach to Determining the Strategy Efficiencyof the Economic Mechanism Development for Innovation Implementation at Engineering Enterprises

The expediency of innovation activization stimulation at industrial enterprises for the purpose of ensuring their competitiveness was proved. The methodological approach to determining the strategy efficiency of the innovation economic mechanism development (IEMD), which is based on the analysis of the main components and cover all the aspects of an enterprise’s innovation development, was suggested. The approach involves comparison of the effects with the standard minimum, maximum value of the required indices, the ratio of the innovation activity integrated indices according to the established limits, which allows comparing the value of the required index and will ensure the expected effect, intensification of all activity lines and definition of the innovation main directions. In the course of the study, the limit values of fluctuations in the enterprise’s innovation indices, innovation efficiency, availability of innovations at the enterprise and rate of their use were established. Accordingly, the degree of their development was found and the most optimum development strategy was selected. Keywords—strategy, limits of fluctuations, indices, efficiency, innovation activity, intensity, development. I. PROBLEM STATEMENT Modern market environment is characterized by aggravation of the competition level and causes industrial enterprises to lose the niches and market segments conquered. It is the crisis conditions of development that stimulate industrial enterprises to search for alternative options for enhancing their development. This situation concerns the activities of engineering enterprises, which, on the one hand, are under impact of environmental factors and, on the other hand, have a positive effect on the socioeconomic state both of the region and state as a whole. The activities of engineering enterprises are of particular importance due to the fact that they provide goods manufactured not only for the population needs but also for functioning of many other enterprises. Under these conditions, introduction of innovations is of significance for the country's economy development and improvement of engineering enterprises’ functioning. It is attraction of innovations and improvement of innovations that constitute the main way to establish enterprises’ activities, increase their competitiveness level, implement development strategies and fully meet the needs of participants of this process. However, the process of enterprises’ innovation development is insufficient due to a low level of innovation activity (IA), slow adaptation to variability of environmental factors, unavailability of an effective economic mechanism for innovation activity, unsystematic management decisionmaking, absence of measures for innovation implementation and introduction of innovation products. II. ANALYSIS OF RECENT RESEARCH AND PUBLICATIONS Currently, it is strategies of innovation development or innovation strategies that constitute a premise for economic growth both of industrial enterprises and the state as a whole. They contribute to increasing living standards, improving welfare, technical development, national security, gaining advantages over competitors. That is the reason for many scholars to research the issues of formation of the innovation development strategy or innovation strategy of enterprises’ activities economic growth, namely: Adamenko M. V. [15], Hrynov A. V. [1; 2], Hruba H. I. [3], Hrudzevych Y. A. [4], Homeniuk M. O. [9,], Davidov M. B. [5], Datsii O. I. [6], Dashkovska I. B. [7], Yefremov O. S. [8], Zhavoronkova H. V. [9], Zhmudenko V. O. [9], Zarichna O. I. [10], Zakharkin O. O. [11], Zakharchenko V. I. [12], Zbarzhevetska L. D. [13], Zborovska, O. M. [14], Usyk M. K. [14], Ishchenko Yu. D. [15], Kabanov A. I. [16], Kazachkov I. O. [17], Korsikova N. M. [12], Maistrenko N. V. [18], Merkulov M. M. [12], Monich O. V. [20], Nehriienko O. S. [19], Nekrasova L. A. [20], Ponomarenko L. A. [21], 7th International Conference on Modeling, Development and Strategic Management of Economic System (MDSMES 2019) Copyright © 2019, the Authors. Published by Atlantis Press. This is an open access article under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/). Advances in Economics, Business and Management Research, volume 99