THEORETICAL BASIS OF THE ECONOMIC DEVELOPMENT OF INNOVATION-ORIENTED ENTERPRISES IN THE FIELD OF PHARMACY

Abstract

The article examines the dynamically growing level of competition in modern globalization processes, taking into account its internal and external changes in the economic environment of Ukrainian enterprises. The existing theoretical and practical methods of defining, implementing and developing innovations, which become not just a means of adapting to new conditions, but also a key factor of efficiency and competitiveness in the constantly changing conditions of modernity, are systematized and analyzed. It is established that at present the priority direction is the successful use of innovations, which involves the transition to an innovative type of economic activity, allowing enterprises to achieve a stable economic position. This approach ensures development according to the intensive type, when the constant reproduction of the strategic innovation orientation becomes an integral part of their activities. It is determined that innovations are identified as new or improved competitive technologies, products, services, as well as organizational and technical solutions that significantly improve the structure, quality of production or the social sphere. These innovations are able not only to meet modern market needs, but also to create new opportunities for economic growth. In particular, the implementation of innovations contributes to increasing the competitiveness of both individual products and the enterprise as a whole, which is critically important in today's dynamic socio-economic environment. It is argued that in the face of ever-increasing challenges and rapid changes in the market, enterprises are forced not only to support innovation processes, but also to ensure their continuous development. Innovations become the basis for effective activities aimed at adapting to the conditions of global competition, optimizing internal processes and achieving long-term strategic goals. To do this, it is necessary to integrate innovative solutions into all aspects of management and production activities, creating conditions for sustainable development and maintaining competitive advantages. Innovation is a result that enterprises can obtain by carrying out innovative activities, regardless of the nature of its origin. It has been established that the level of novelty of innovations and their impact on the performance of enterprises directly depends on the activity in implementing innovation processes. Fundamental innovations are capable of causing large-scale transformations in certain industries: the creation of unique products with new value for customers, the introduction of new generations of technologies, a change in technological structures or the emergence of fundamentally new economic and social systems. Improving innovations, in turn, are aimed at refining and adapting basic innovations to the needs of different industries and consumer groups, in particular by improving existing technologies, processes or products. Innovations are also classified according to their scale: strategic, changing basic technologies or approaches, and tactical, relating to organizational or managerial improvements. In most cases, technological innovations occupy a central place, while organizational innovations perform a supporting function, improving their efficiency. It is innovation activity that encompasses a set of actions aimed at implementing scientific and technical achievements in order to create or improve existing production processes, products or management methods. It contributes to the emergence of new objects or services that did not exist before, opening up new opportunities for enterprises. In the context of this activity, its essence is often described as the process of developing, implementing and disseminating innovations. This approach provides enterprises with the ability to adapt to the changing conditions of the systemic global economic crisis, expand their capabilities and create unique competitive advantages, implementing what changes the perception of traditional approaches in business and finding a path to long-term economic recovery.