ORGANIZATIONAL, METHODOLOGICAL AND ECONOMIC IMPERATIVES OF DEVELOPING AN INNOVATION STRATEGY OF A REGION'S SUSTAINABILITY ON THE BASIS OF INTELLECTUAL CAPACITY BUILDING

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  Oksana Pidvalna

  Tamara Kachala

  Kateryna Romashchenko

Abstract

The purpose of the paper is the research of organizational, methodological and economic imperatives of developing an innovation strategy of sustainability for a region on the basis of intellectual capacity building. Methodology. Methods of scientific analysis and synthesis, structural, factor, system and functional analysis, methods of economic and statistical analysis were used as main methods in this research. In addition, we used special methods of complex economic analysis: monographic method during the research on the specific features of intellectual capacity building, historical method during the research on principles and factors of a region's intellectual capacity building and development strategy, abstract and logical methods in defining modern requirements for the intellectual potential of a region, systematic and comprehensive methods in formulating a model of economic sustainability of intellectual capacity development in a region, structural objectives to develop the strategic mechanism of intellectual capacity development in a region. Results. An innovation strategy of a region economic sustainability is proposed in this paper. The strategy is a scheme of achieving significant long-term competitive advantages and the main tool of a sustainable region development that creates a possibility for the efficient use of intellectual, productive, technological and market resources. Structural interconnection of resource components of innovational capacity in the system of a region strategic sustainability support is analyzed. The research presents the algorithm of innovation strategy development in the system of a region strategic sustainability support. An integrated benchmark and indicator system that helps to choose a certain innovation strategy of region development is characterized. The mentioned criteria and indicators provide more rational and effective choice of innovative behavior. We proposed principal directions of investment in the intellectual capacity of a region and developed a scheme for evaluation and selection of investing alternatives for the intellectual capacity of a region. Practical implications. The proposed organizational and economic tools allow implementing relevance and efficiency of intellectual capacity management in order to ensure its strategic sustainability. Value/originality. The acquired results show a theoretical base of organizational, methodological and economic imperatives of developing an innovation strategy of region sustainability and the growth of the regional economics.

How to Cite

Pidvalna, O., Kachala, T., & Romashchenko, K. (2022). ORGANIZATIONAL, METHODOLOGICAL AND ECONOMIC IMPERATIVES OF DEVELOPING AN INNOVATION STRATEGY OF A REGION’S SUSTAINABILITY ON THE BASIS OF INTELLECTUAL CAPACITY BUILDING. Baltic Journal of Economic Studies, 8(1), 118-125. https://doi.org/10.30525/2256-0742/2022-8-1-118-125
Article views: 267 | PDF Downloads: 122

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Keywords

innovation, innovation strategy, intellectual capacity, sustainable development, investment, regional economic

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