2020 1(38)17

Innovations as a factor increasing the competitiveness of Ukraine

Viktoriia Pushak
ORCID https://orcid.org/0000-0002-6217-1767
Lviv Polytechnic National University, Lviv;
Nataliia Horbal
Phd in Economic Sciences
ORCID https://orcid.org/0000-0003-1448-5603
Lviv Polytechnic National University, Lviv

Citation Format
Pushak V. Ya., Horbal N. I. (2020). Innovations as a factor increasing the competitiveness of Ukraine. Visnyk ekonomichnoi nauky Ukrainy, 1 (38), рр. 131-137. doi: https://doi.org/10.37405/1729-7206.2020.1(38).131-137 

Language
Ukrainian

Resume
In the conditions of globalization innovation is the main source of economic development. In view of this, this publication is dedicated to exploring the impact of innovation on the competitiveness of Ukraine in order to ensure sustainable economic growth. On the basis of the analysis of achievements of scientists, it is concluded that the innovation potential is a driving force for change and forms the basis for perspective development in competitive conditions. The indexes that are used to determine the level of innovation within the international competitiveness of each country and the importance of development of innovation in general are analyzed. The factors of influence on the level of competitiveness of Ukraine, in particular the innovation potential, as one that occupies the lowest positions, are investigated. The focus is on those elements that hinder the ability of innovation of domestic businesses. The classification of countries according to the innovation policy, which allows to understand the main reasons for the unevenness of their innovative development, has been made.
During the conducted research it has been clarified that the development of business processes and the use of innovative innovations allow businesses to identify prospects and expand the activity in new markets. It is recommended to pay attention to the development of innovations and the search for new business solutions in order to create competitive potential and solve the existing problems, as well as to achieve the set goals within the framework of the enterprise activity and ensure international competitiveness. Formation and implementation of the effective innovation policy will allow Ukraine to occupy a higher position in the international competitiveness ratings and, accordingly, achieve a higher level of development, which will help to increase the level of well-being of the population.

Keywords
innovation, competitiveness, innovation potential, global competitiveness index.

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