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Strategies of the expansion of innovative potential by processing companies

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  • D. Krysanov, L. Wodjanka

Abstract

The purpose of the article is caused by the emergence of new challenges for the national economy, and particularly for the agricultural sector as a result of the signing and ratification, in September 2014, of the Association Agreement EU-Ukraine. These challenges are systemic, comprehensive, extremely powerful and dangerous, so the preparation of adequate responses to them requires a transition to an innovative paradigm of businesses in the food complex in order to actively develop their innovative potential. The study used methods such as theoretical abstraction, generalization of the essential characteristics of modern paradigms of development, structural and comparative analysis and grouping, SWOT-analysis of the internal condition and environment of food-processing companies, the hierarchy of risks by source of origin, and organizing strategies for the development of structural components of the innovative potential. The authors justified theoretical and methodological foundations of economic transition to an innovative paradigm of development strategy of the food-processing industry. It is based on the assessment of the internal condition and existing potential for the whole enterprise and its components, the external economic environment and innovation and investment climate and, on this basis, the selection of innovative models of development. The strategy of increasing innovation potential of a business structure is based on the allocation of structural components and the use of different groups of sectoral strategies for development and to achieve balance. This will be an innovative and technological basis for the production of food products with innovative features (new or improved properties), and corresponding to the consumers customization by needs and tastes. The authors systematized the causes that provoked the appearance of existing or potential risks, revealed their impact on the companies' development strategy and elaborated tools whose introduction and use can neutralize and overcome the brake and centrifugal effects.

Suggested Citation

  • D. Krysanov, L. Wodjanka, 2015. "Strategies of the expansion of innovative potential by processing companies," Economy and Forecasting, Valeriy Heyets, issue 1, pages 89-104.
  • Handle: RePEc:eip:journl:y:2015:i:1:p:89-104
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