Abstract

The aim of the article. The aim of the article is to determine the essence of economic and innovative development of corporation on the basis of complex approach. The results of the analysis. The article has revealed the nature of development from economic and philosophical points of view. The understanding of the nature of development enables managing it, i. e. working out appropriate development strategies (economic, innovative, technological, social, etc). The study of theoretical approaches to the essence of a corporation enables the statement that at present a corporation is the most promising form of entrepreneurship as the evolution of corporation has brought it to a higher level as compared with an enterprise in terms of property, approaches to management etc. The evident advantage of a corporation over an enterprise is in implementing innovative projects, pooling corporate interests and providing them with intellectual, financial, technical and other kinds of resources. Theoretical and methodological approach to determining the economic and innovative development of an enterprise consists in determining the complicated and capacious category «an enterprise’s economic development» through its main components (business processes, finances, investments, logistics and marketing) and the structure of economic activities. Components of the innovative development and the structure of an enterprise’s innovative development are presented similarly. The article presents the complex approach to determining the essence of the economic and innovative development of a corporation on the grounds of relationship of a corporation’s development lines and gives the classification of a corporation’s economic and innovative development (CEID) depending on the level of innovativeness of the economic development. The article defines the term «corporation’s economic and innovative development» as a category that characterizes dynamic qualitative changes of an economic component of a corporation’s activities conditioned by the level of innovativeness of all kinds of activities for providing economic growth within the chosen mission, motivation and activity intellectualization. Conclusions and directions of further researches. The study made enables stating the fact that the category «corporation’s economic development» transforms into the category «corporation’s economic and innovative development» and from this perspective all components of the latter will be treated as «corporation’s operational and innovative development», «corporation’s financial and innovative development», «corporation’s investment and innovative development» and «corporation’s logistic and innovative development». Also working out a system of dynamic indicators for determining the level of innovativeness of a corporation’s economic development and a system of motivating and intellectualizing a corporation’s economic and innovative activities is a direction for further research.

Keywords: development, corporation, economic development of enterprise, innovative development of enterprise, corporation’s economic and innovative development

JEL Classification: O00, O11, O29, O31.

Cite as: Kornukh, O. (2014). Economic and innovative development of corporation. Marketing and Management of Innovations, 3, 154-164. https://doi.org/10.21272/mmi.2014.3-15

This work is licensed under a Creative Commons Attribution 4.0 International License

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