Sustainable Innovative development is one of the components of the state economy. Today there is no country where the competition for leadership in the world markets would not be associated with innovation. This is due to many factors; depreciation of fixed assets, high cost, and as a result low competitiveness of goods, both in the domestic market and in the external.
Currently, domestic enterprises operate in the conditions of negative phenomena of both objective and subjective nature. These phenomena significantly affect the susceptibility of enterprises to market requirements related to the innovative development of business entities, and, therefore, the impact is on the stable position, competitiveness. At the present stage of development of market relations, there is a need to use new approaches to the formation of sustainable innovative development of enterprises.
The introduction of innovations in enterprises leads to the renewal of the range of products, improving the quality of products to meet consumer demand and maximize profits, therefore, there is an increase in the efficiency of the business entity.
Thus, the main task of any enterprise is to maintain competitiveness as long as possible and to ensure the level of financial and economic indicators not lower than the average industry. This will make it possible to form strategic stability of the enterprise and as a result to develop and maintain long-term competitive advantages, providing high-quality products and demand for it. Table 1 shows that the main advantage of the enterprise is innovation.
In modern conditions of economic development, managers of different levels face the problem of reformatting systems, methods and economic mechanisms for managing sustainability in terms of an innovative approach. This is one of the main and decisive conditions for overcoming the crisis, as active innovation ensures the strategic stability of the enterprise.
Many world scientists interpret innovation as a means of introducing scientific discovery, the technical invention in a new kind of product, in new technology to meet the needs of society. This is effective in the emergence of new products and production tools, technologies that bring additional profits. Broadly speaking, innovation is the process and means by which scientific discoveries are translated into social and economic innovation. It should be noted that the innovative approach is a systematic process of qualitative changes in products, means of labor, objects of labor, technology, an organization of production and management. The aim of this process is to increase the competitiveness and efficiency of production.
The innovative approach allows giving to the subject of managing the status of innovative stability and to classify it as the innovative steady enterprise.
The figure shows that the company is developing in two directions. Innovative development of the enterprise involves improving the quality of products, efficient use of resources, improving productivity on the basis of qualitative changes in technology, organization, and management of the production process, ensuring a profit.
The second direction of development of the enterprise stability is based on the principles, methods which promote the increase of technological, financial and organizational stability of work of the enterprise. Together they provide innovative stability to the enterprise and are based on the constant activation of innovative activity.