Determination of the role of innovation management in ensuring sustainable growth of enterprises

Authors

DOI:

https://doi.org/10.15587/2706-5448.2025.326751

Keywords:

innovation management, innovation strategies, management support, innovation funding, digital technologies, innovation implementation barriers

Abstract

The object of research is the processes of innovation management in enterprises. One of the most problematic areas is the lack of proper funding, resistance from employees, and insufficient qualification of staff, which complicates the implementation of innovations. The research utilized methods such as surveys, interviews, case studies, and correlation analysis. This allowed for the identification of key factors influencing the success and effectiveness of innovation in enterprises under conditions of sustainable growth. In particular, the correlation analysis showed a significant relationship between the level of funding and the success of innovation processes (correlation coefficient 0.80), which confirms the importance of having sufficient resources for the implementation of innovations.

In addition to financing, the qualification of personnel plays a major role in the implementation of innovations. 60 % of respondents indicated that the level of training of employees is an important factor for effective adaptation to technological changes. In particular, the ability of personnel to adapt determines the speed of innovation implementation and reduces barriers in the change process. It was also found that support from management is critically important for the successful implementation of innovations (correlation coefficient 0.85), since it is managers who determine development strategies and provide the necessary conditions for their implementation.

The results obtained confirm that the proposed approach to innovation management, which includes the integration of modern digital technologies and the development of an innovation culture in the organization, allows significantly increasing the efficiency of innovation processes and ensuring sustainable development.

This provides the opportunity to obtain high indicators in such areas as innovative development and adaptation to change. Compared with similar known approaches, this provides such advantages as more effective management of financing and human resources. The study allows to formulate recommendations for improving innovation management processes in organizations, in particular, regarding the need to increase investment in innovative projects and improve the skills of personnel to adapt to technological changes.

Author Biographies

Oleh Chechel, Open International University of Human Development «Ukraine»

Doctor of Science in Public Administration, Associate Professor

Department of Management and Administration

Alla Bashuk, Taras Shevchenko National University of Kyiv

Doctor of Social Communication, Associate Professor

Department of Advertising and Public Relations

Andriy Nevalov, Taras Shevchenko National University of Kyiv

PhD

Department of Social Communication

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Determination of the role of innovation management in ensuring sustainable growth of enterprises

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Published

2025-04-15

How to Cite

Chechel, O., Bashuk, A., & Nevalov, A. (2025). Determination of the role of innovation management in ensuring sustainable growth of enterprises. Technology Audit and Production Reserves, 2(4(82), 33–41. https://doi.org/10.15587/2706-5448.2025.326751

Issue

Vol. 2 No. 4(82) (2025): Economics of enterprises. Macroeconomics

Section

Economics and Enterprise Management

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Copyright (c) 2025 Oleh Chechel, Alla Bashuk, Andriy Nevalov

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