EVOLUTION AND MODERN INTERPRETATION OF INNOVATIONS AND INNOVATIVE DEVELOPMENT OF ENTERPRISES

Abstract

The article is devoted to the study of theoretical foundations of innovation and innovative development of enterprises in the context of modern economic transformations. The evolution of scientific approaches to the interpretation of the concept of “innovation” is analyzed, starting from classical theories to contemporary interdisciplinary perspectives. Particular attention is paid to the systematization of existing definitions and the identification of key characteristics of innovation as an economic category. The paper examines modern approaches to understanding innovative development of enterprises, emphasizing its multidimensional nature, which combines process, result-oriented and systemic components. The relationship between the concepts of “innovation” and “innovative development” is substantiated, where innovation is considered as a fundamental driver and a structural element of the development process. Based on the critical analysis of scientific literature, the author proposes original definitions of “innovation” and “innovative development of an enterprise”, which integrate technological, organizational, economic and managerial aspects. These definitions reflect the dynamic and continuous nature of innovation processes in the conditions of digitalization and increasing global competition. A conceptual and methodological algorithm for the implementation of innovative development at the enterprise level is developed. The proposed algorithm includes a sequence of interconnected stages, from the identification of innovation potential and strategic goal setting to the evaluation of results and continuous improvement. It takes into account modern trends such as digital transformation, open innovation models, and the orientation towards sustainable development. The practical significance of the obtained results lies in the possibility of applying the proposed approach in enterprise management systems in order to enhance competitiveness, adaptability and long-term efficiency. The results of the study can be used by managers, researchers and policymakers in the process of forming and implementing innovation strategies.