Analysis of tendencies in the functioning of innovative entrepreneurship in the context of technological progress

The object of research is innovative entrepreneurship and the main tendencies in its operation in the world. Investigated problem. The rapid development of innovative entrepreneurship necessitates are the identification and tracking of tendencies in this area. The main scientific results. The article identifies tendencies in the functioning of entrepreneurship in the context of technological progress. The main subsystems of an innovative enterprise are characterized. The dynamics of frontier technologies market indicators in the context of innovative entrepreneurship is analyzed. It is noted that the transformation of the structure of the global market of advanced technologies is accompanied by increasing disparities in technological and financial development between countries. The inconsistency of national goals with global ones in the field of frontier technologies is pointed out. The area of practical use of the research results. The results of the study can be used by representatives of the scientific community, authorities to understand global tendencies in innovative entrepreneurship. Innovative technological product Identified global tendencies in the functioning of innovative entrepreneurship can be part of technological development strategies. Scope of application of the innovative technological product: policy of regulation of innovation activity.

Fostering leadership skills of technology professionals in startups

This paper presents an investigation on how the startup environment fosters the development and improvement of the leadership skills of technology professionals. From the beginning of the 90s, new products and new technologies began to appear at a much faster pace and, since then, significant changes have occurred in corporate, academic environ-ments and in everyday interpersonal relationships. In this scenario, new types of business have also emerged, such as startups, considered an innovative enterprise, with the poten-tial to grow and scale. Minds ahead of all this innovation were necessary and, therefore, a new type of leader emerged. A leader who not only guides the followers but encourages leadership by them. Particularly in the startup environment, leadership becomes even more fundamental. As these entrepreneurs must keep these organizations in constant and strong growth, the ability to manage and motivate people to follow the same path becomes an essential part of the process. In this context, we aimed to answer the following research question: “How do the startup environments foster the development and improvement of the leadership skills of technology professionals?”. Aiming to answer the posed research question, we conducted a case study with four subjects. In this paper, we discuss each step of the case study and present the gathered results. As a result, we have identified three main categories of factors that promote the development and improvement of such professionals: open culture, leadership skills, and accelerated growth.

The Effect of Gamified Teamwork on Business-related Idea Generation

Innovation providing a competitive advantage to enterprises is based on original ideas usually developed by teams. Therefore, the optimization of idea generation in teams is crucial for the enterprises’ competitiveness and survival. The goal of this experimental study is to test whether idea generation in team can be made more effective in terms of quantity and quality through gamification (the use of game design elements in non-game contexts). Based on conservation of resources theory, in the present study gamification was assumed to generate and regulate task-related resources and therefore to increase the number and originality of generated ideas. 170 students divided in 70 teams were asked to imagine themselves to be a management team of a young innovative enterprise during a crisis meeting and to generate solutions for the described problems. 35 teams were randomly assigned to the gamification condition and another 35 teams to the control condition. The number and originality of ideas were evaluated by two independent condition-blind raters and compared between the conditions. Gamification has a large positive effect on the idea number and a medium-sized positive effect on the idea originality. The findings, implications and limitations are discussed.

Economic Policies for Innovative Enterprises: Implementing Multi-Stakeholder Corporate Governance

Large corporations dominate economic and social life in the United States and around the globe. The mainstream corporate governance ideology of “shareholder primacy” claims that the exclusive purpose of a corporation is to generate returns for shareholders, which means that governance decisions should be exclusively in their hands. However, shareholder primacy lacks a theory of how companies innovate, and instead focuses solely on allocation of corporate profits, misunderstanding the relationship of shareholders to the twenty-first-century corporation. The theory of the corporation as an innovative enterprise—engaged in productive innovation by producing higher-quality goods and services for lower unit costs—is an accurate way to understand what makes corporations successful producers. Stakeholder theory from progressive legal scholarship illustrates specific corporate governance institutions that can assist innovation, including fiduciary duty, stakeholder participation in decision making, and equity ownership. This article contributes to the growing literature refuting shareholder primacy by utilizing the theories of the innovative enterprise and multi-stakeholder governance to propose reshaping US corporate governance to better to serve innovation in production and a balance of power in distributional decision making. JEL classification: B50, D21, G30, G35, K22

AN ARCHITECTING APPROACH TO TRANSFORMATIONS WITHIN THE DESIGN CONSULTING INDUSTRY: IDEO CASE STUDY

Enterprises evolve continuously, usually gradually, but sometimes rapidly in the face of disruptive events. The purpose of this study is to analyze the transformation process of the design consultancy in the face of challenges presented by advanced technology, economic change, and systemic shifts by applying selected methods and tools from the ARIES (Architecting Innovative Enterprise Strategy) framework. The study uses IDEO as an example to discuss the organizational structure of design consultancies, and describes how IDEO has evolved in the context of change. This study illustrates some emerging challenges that the design consulting industry is facing now and will face in the future, and how these challenges will affect organizational culture and structure, the design consulting process, the recruiting criteria, and the designers, as well as envisioning possible paths for the future of design consultancy.

Budget efficiency of tax incentives for innovative activity

The article is devoted to the topical issues of determining the budget effectiveness of the use of tax incentives for innovation. The conceptual difference between “budgetary effect” and “budget efficiency” has been defined. A reasonable criterion of the budgetary effect, which is proposed to calculate as the difference between financial results of innovation and expenditures (temporary budget losses) to stimulate innovation. The method of justifying the budgetary effect of tax incentives for innovation by applying an increased standard of write-offs on the cost of spending on scientific and scientific and technical works has been proposed. The proposed methodology uses a recursive model for calculating tax revenues starting with the development of innovative products, which occurs as a result of the reinvestment by the subject of innovation in the first stage – savings from tax cuts, in the second and subsequent stages – the said savings and part of the increase in profits. The increments of investment resources of the subject of innovation and budget revenues are determined taking into account the factor of time of their receipt by the method of discounting. The budgetary effect is proposed to assess during the regulatory period of return on investment. The article contains a logical illustration of the recursive model of tax revenues and the calculation formula. Based on the data of the innovative enterprise, the indicators of the budget effect, the internal rate of budget revenue and the payback period of its losses, which arise due to the introduction of an increased rate of write-off for the cost of scientific and scientific-technical works have been calculated . It is recommended when making decisions on the feasibility of tax incentives for innovation to take into account the stimulating function of taxes, which is manifested in increased motivation of entrepreneurs to innovate. Keywords: taxes, tax policy, innovation, budget efficiency.

Social Media Data Misuse

The present high-tech landscape has allowed institutes to undergo digital transformation in addition to the storing of exceptional bulks of information from several resources, such as mobile phones, debit cards, GPS, transactions, online logs, and e-records. With the growth of technology, big data has grown to be a huge resource for several corporations that helped in encouraging enhanced strategies and innovative enterprise prospects. This advancement has also offered the expansion of linkable data resources. One of the famous data sources is social media platforms. Ideas and different types of content are being posted by thousands of people via social networking sites. These sites have provided a modern method for operating companies efficiently. However, some studies showed that social media platforms can be a source for misinformation at which some users tend to misuse social media data. In this work, the ethical concerns and conduct in online communities has been reviewed in order to see how social media data from different platforms has been misused, and to highlight some of the ways to avoid the misuse of social media data.

MARKETING-LOGISTICS-ORIENTED MANAGEMENT OF ECOLOGICAL INNOVATIVE ENTERPRISES

Purpose. The study aims to develop a scientific and methodological approach of organizing a marketing-logistics-oriented management system for ecological, innovative enterprises (EIE) to ensure effective implementation and use of environmental innovations for the greening of material flows at the enterprise. Design/methodology/approach. The obtained scientific results are based on using a systematic approach, logical analysis, and synthesis to develop literature sources to determine methods to solving the problem of marketing-logistics-oriented management of the EIE. On the study of literary sources, the core and advantages of marketing and logistics management from the standpoint of the enterprise's efficiency and the functioning of marketing and logistics activities were identified. Also, domestic and foreign authors’ views about the interaction of marketing as a concept of management that is oriented on the market and logistics as a flow-oriented management were studied. This creates opportunities to increase commodity and information utility and value of goods. Findings. To confirm the article’s hypothesis, the scientific and systematic approach to the organization of the system “suppliers – ecologically innovative enterprise – marketing – consumers” for ecological optimization of material flows at the enterprise was offered. In particular, the research provides the use of matrix organizational management structure in organizing the activities of logistics and marketing services. In this case, such matrix structure ensures a rapid response of both systems to complex problems in supply and marketing and, at the same time, allows you to avoid duplication of functions of services and preserve cost-effective management of them. Originality/value. The necessity of transition from price competition for environmental goods and services to match for certain advertising activities aimed at stimulating ecological processes and a healthy lifestyle causes the formation of a marketing information system in an environmentally innovative enterprise. This system is intended to collect, accumulate, transmit, process, and analyze the information necessary for use by the marketing service to upgrade the planning and forecasting of marketing activities, improve demand for goods and services, and monitor the implementation of marketing activities. For effective marketing management of the EIE, it is necessary to monitor the environment’s condition based on marketing research constantly, always using modern marketing information systems and the latest information technologies. The purpose of the logistics system of an ecological, innovative enterprise is to ensure the availability of the necessary environmentally innovative products, goods, and services in the required quantity and range, of the specified quality, in the right place and at the right time. The functions of the logistics system of innovative ecological enterprises are determined to endow their viable work. The suggested scientific and methodological approach to marketing-logistics-oriented management of the EIE is based on constructing an optimal model of the EIE logistics system and the appropriate method of marketing information. Such attitude can be widely used in the design, creation, development, and research of EIE, regional, and national environmental innovation systems. It is directed at optimizing the movement of material flows on the system “suppliers – EIE – marketing – consumers” and managing these flows. Practical implications. A conceptual model of interaction of the marketing information system with the external environment for the rationalization of marketing activities and management processes of the EIE is constructed. The logistics system of ecological, innovative enterprises, which was formed in this paper, will improve the implementation processes of environmental innovations in the design “supplier – consumer” to green the enterprise and the region’s activities effectively.

STRATEGIC MANAGEMENT OF INNOVATIVE ENTERPRISE DEVELOPMENT PROJECTS: METHODOLOGICAL PROVISIONS

The paper is devoted to the issues of innovative projects strategic management for the enterprises development, which is due to the acceleration of changes affecting the implementation of enterprises economic activities. Conducted a study of theoretical, methodological and applied aspects of enterprise development strategic management to determine the possibilities of improvement and development in modern conditions of the economic activities implementation. The necessity, importance and expediency of the strategic management formation in the enterprise management system are indicated and substantiated. The most common, basic strategies for enterprise development are considered, including strategies for concentrated growth, integrated growth, diversified growth, and reduction. The stages of enterprise development strategic management are determined, among which one of the main is the stage of strategic analysis. The specifics of the enterprises economic activities have been clarified, including the spread of project management methodology, changes caused by Industry 4.0, the COVID-19 pandemic, climate transformations, and others. A conceptual diagram of the «Star» project management model has been formed, which indicates the areas of knowledge in project management, including integration management, risk management, communications management, stakeholder management and others. The model also assumes taking into account both traditional restrictions in the project implementation, namely, compliance with the requirements for quality, project cost and time of its implementation, and new ones, including ensuring profitability, environmental friendliness and social significance. The conceptual scheme provides for further improvement of the project management model by the possibility of expanding the range of components through the addition of new elements. The use of the conceptual scheme of the project management model as a basis for the methodological foundations development for the strategic management of innovative enterprise development projects is proposed. Changes in the strategic management concept of enterprise development are considered. The general project management concept as a basic for strategic management of enterprise development is defined.