Innovative management as a factor for increasing the efficiency of organizations

Abstract

Introduction. Innovative development is seen as a necessary condition for the effective functioning of an organization, the basis for the formation of its competitive advantages and expansion of market potential, a guarantor of adaptability to the dynamics of the socio-economic environment. Innovation management should be considered as an approach to management focused on the development and implementation of innovative processes, strategies and solutions in order to increase the efficiency of the organization. Purpose. The purpose of the study is a comprehensive analysis of innovation management in the context of a factor in increasing the efficiency of organizations in modern conditions. Materials and methods. In the process of conducting the research, scientific methods of analysis and synthesis, theoretical grouping, formalization, and logical generalization of results were used. Results. The main components of the modern innovation management strategy are identified, including the development and integration of innovative technologies and approaches to activity, management of innovation projects, increasing investment attractiveness, and promoting an innovative organizational culture. The main subjects and objects of innovation management are identified. The study analyzes innovative approaches to the digitalization of business processes to ensure financial inclusion and sustainable development of the organization. The article considers promising areas of digitalization as components of innovative management of modern companies, including the use of artificial intelligence and cloud technologies, algorithmic analytics, personalization, blockchain. The need to transform the personnel management of organizations for their effective innovative development is substantiated. The article proves that innovations stimulate progress, contribute to investment development and form sustainable competitive advantages of business, while covering innovative products, business models or ways of solving certain problems to ensure maximum compliance of the organization's activities with market demands. Discussion. In further scientific research, it is advisable to focus on international practice in the field of innovation management for the future implementation of its elements in the perspective of post-war economic recovery in Ukraine.