ANALYSIS OF THE PLACE AND ROLE OF STAKEHOLDERS IN THE PROCESS OF COMMERCIALIZATION OF INNOVATION

The article is devoted to topical issues of stakeholder definition for innovation commercialization as a process of introducing new services or products to the market. The authors derived a report based on the information received that commercialization is the engine of the economic system and the process of transforming innovative developments or products of innovative activity into monetary resources beneficial for the developer, investors, and any stakeholders. The research analyzed and formed the scheme of interaction between the firm, primary, and secondary stakeholders. The authors proposed developing a commercialization plan with stakeholder engagement. The key challenges to the stakeholder analysis are given, on the basis of which the analysis of strengths and weaknesses of innovative development of Ukraine is realized. Increasing stakeholder involvement is presented as a result. The conducted analysis is the basis for the definition of stakeholders, in particular, and how they will contribute to the achievement of expectations of business and the formation of a complex system of stakeholder management in individual territories.