Published October 2024, Pg. 58-61

Section: Economy, management and law

UOT: 622:338.2

DOI: 10.37474/0365-8554/2024-10-58-61

Modern trends in development of innovative activities of enterprises

G.N. Safarova - Azerbaijan State Oil and Industry University

In the article, the main essence of the economic strategy of the enterprises operating in the conditions of the innovative economy is explained and the main influencing principles are listed. The necessity of careful study and scientific-theoretical research of existing innovations for the successful management of innovation activities of the enterprise was brought to attention. Also, the main factors affecting the innovative activity of enterprises were analyzed, the creation of long-term guidelines as ways of increasing innovative potential, the transparency of the financial sector, the aspects of promoting new inventions in the field of fundamental and applied sciences were shown, the main development directions for strengthening the mutual relations between the state, business and science and the modern development trends of innovation activities characterizing the selection of their implementation methods were investigated. The necessity of creating a methodology for evaluating external and internal risk factors, which serves the successful implementation of innovative activity and accurate determination of existing working conditions, as well as the need to use new innovations to solve existing problems in the innovative economy, was especially noted. 
The scientific results obtained on the basis of theoretical analyzes once again confirm the importance of creating an innovative development strategy of each enterprise as the main factor in obtaining competitive advantages in domestic and foreign economic markets, high profitability of capital and the processes of increasing the market value of the enterprise.

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