INNOVATIVE FACTORS OF NETWORK COMPANIES ECONOMIC INTEGRATION

Authors

DOI:

https://doi.org/10.36690/2674-5208-2021-1-49

Keywords:

innovations, economic integration, network companies, intellectual capital, science intensity of products, training, development and stimulation of personnel

Abstract

The article proves the importance of innovative development for the successful economic integration of network companies. The innovative development of network companies is determined by increasing the level of competitiveness through the use of their capabilities for rapid updating of products, coordination of efforts to develop new products and technologies, active dissemination of innovations and their implementation. Factors of innovative development have a specific effect on each network. The most effective ones are the joint acquisition of the latest technologies for the production and sale of innovative products (including in international markets), joint efforts in the field of staff training and improving the efficiency of resource and organizational interaction. The combined effect of these factors leads to an increase in knowledge-intensity of products and sales of innovative products (services). The combination of competitive advantages related to network integration benefits and innovation opportunities creates new sources of efficient network operation and development. To activate the factors of innovative development, it has been proposed to form effective models of network interaction in the field of joint acquisition of new technologies, materials, related services; to increase the level of technological support, which affects the intellectualization of network companies; to optimize human resources management, which will determine the ability of staff to promote the creation and implementation of the latest innovative developments.

Author Biographies

Irina Petrova, KROK University

Doctor of science (Economics), Professor, Head of the marketing and behavioral economy department, KROK University, Kyiv, Ukraine

Bohdan Viktorov, KROK University

Postgraduate student, KROK University, Kyiv, Ukraine

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Published

2021-03-05

How to Cite

Petrova, I., & Viktorov, B. (2021). INNOVATIVE FACTORS OF NETWORK COMPANIES ECONOMIC INTEGRATION. Economics, Finance and Management Review, (1), 49–59. https://doi.org/10.36690/2674-5208-2021-1-49

Issue

Section

Chapter 1. Current trends in economic development