DESIGNING A BALANCED STRATEGY MECHANISM FOR THE INNOVATIVE DEVELOPMENT OF METALLURGICAL ENTERPRISES
DOI:
https://doi.org/10.17721/1728-2667.2025/227-2/6Keywords:
risks, innovations, enterprise, mechanism of balanced strategy implementation, innovative activity, metallurgical enterprises, balanced strategyAbstract
B a c k g r o u n d . The applicability of this study is in a balanced strategy mechanism designed for the innovative development of metallurgical enterprises. The objective of the research is to examine the theoretical and methodological principles of establishing a mechanism that supports a balanced strategy for the innovative development of metallurgical enterprises in Ukraine. The object of the study is the process of formulating and implementing management strategies for the innovative development of metallurgical enterprises in Ukraine.
M e t h o d s . To achieve the research objectives, the following methodologies were used: analytical and formalization methods to study the theoretical framework for understanding the essence of the mechanism underlying a balanced strategy for the innovative development of etallurgical enterprises; qualimetric forecasting to identify the components of this mechanism; taxonomy and synthesis methods for the generalization of risk management components in the process of development of metallurgical enterprises; and the abstract-logical method for theoretical generalizations and conclusions derived from the study.
R e s u l t s . The development of a mechanism for a balanced strategy aimed at the innovative advancement of metallurgical enterprises involves several key stages. The first stage entails an analysis of the current state of the innovative capabilities of the metallurgical enterprise, along with the formulation of proposals to enhance these capabilities in alignment with industry standards, innovation criteria, and the prevailing level of competition. The second stage focuses on establishing the objectives of the metallurgical enterprise's innovative activities. The third stage proposes strategies for managing the risks associated with the potential loss of innovative capabilities. Finally, the fourth stage culminates in the establishment of a comprehensive mechanism for a balanced strategy that supports the innovative development of the metallurgical enterprise.
C o n c l u s i o n s . The establishment of a mechanism for a balanced strategy aimed at the innovative development of metallurgical enterprises enables adaptation to the conditions of intense market competition. This approach facilitates the advancement of modern technologies, the creation of innovations, and the production of complex innovative products by leveraging existing innovative potential while simultaneously enhancing it Ultimately, this process boosts the competitiveness of the integrated structure.
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