Bikmetov R.Sh.Published in:
Russian Journal of Entrepreneurship
– Volume 20, Number 3 (March 2019)

JEL classification: J01, M12, M14, M16, O33

Keywords: high-tech products, innovation, investment, management, strategy


Share:

Abstract:

The relevance of this article is due to the fact that today the majority of enterprises need to introduce innovative industries for sustainable development. According to the author, an important problem is the fact that modern Russian enterprises are faced with the need for a radical renewal of their activities to increase competitiveness. Businesses around the world need to learn how to produce high-demand, high-quality and high-tech products: electric cars and electric scooters, 3d printers of various types, phones, tablets and laptops with impressive performance, the latest medical devices. The purpose of the article is to develop a strategy for the introduction of innovative industries in traditional factories. The paper presents the directions of the strategy for the transition to the production of innovative products that are in demand today in various countries of the world. The author proposes a basic formula with which you can calculate the necessary amount of investment for the transition to innovative production

Highlights:

The modern world is a world of changing technologies, a world of breakthroughs in various fields, a world of innovation.
• The main problem that today faces factories producing unclaimed, rapidly aging products is how quickly and without devastating consequences to go to the production of innovative products, and therefore regain competitive positions.
• At this stage, it becomes clear that the Russian economy needs deep-seated structural reforms, a new economic model should be based on high-tech products, like those of Japan or South Korea.
• The development of an innovative development strategy for any traditional plant should begin with the definition of the basis for development. At the heart of this development is the recognition of the fact that products manufactured before are no longer in demand, do not meet the requirements of consumers.
• To calculate the amount of investment required for a project to create a new unit, the formula must be derived.
• The introduction of an additional division producing innovative high-tech products in an enterprise based on the digital economy is an important basis for a sustainable growth strategy for a traditional enterprise.

---

References:
Adizes I. (2014). Upravlyaya izmeneniyami. Kak effektivno upravlyat izmeneniyami v obschestve, biznese i lichnoy zhizni [Driving changes. How to effectively manage change in society, business and personal life] M.: Mann, Ivanov i Farber. (in Russian).
Bauer W., Hämmerle M., Schlund S., Vocke C. (2015). Transforming to a Hyper-connected Society and Economy – Towards an “Industry 4.0” Procedia Manufacturing. (3). 417-424.
Beckmann B., Giani A., Carbone J., Koudal P., Salvo J., Barkley J. (2016). Developing the Digital Manufacturing Commons: A National Initiative for US Manufacturing Innovation Procedia Manufacturing. (5). 182-194.
Bikmetov R.Sh. (2010). Sotsialnye aspekty strategicheskogo upravleniya gornodobyvayuschim predpriyatiem v usloviyakh krizisa [Social aspects of strategic management of a mining industry corporation amid the crisis]. Vestnik rossiyskogo universiteta druzhby narodov. seriya: sotsiologiya. (3). 60-69. (in Russian).
Bikmetov R.Sh. (2016). Formirovanie edkhokraticheskoy struktury otechestvennyh organizatsiy v usloviyakh razvitiya innovatsiy [Edhocratic structure’s formation of domestic organizations in the conditions of innovations’ development]. Discussion. (5(68)). 49-54. (in Russian).
Bikmetov R.Sh. (2016). Strategiya sotsialno-ekonomicheskogo razvitiya gradoobrazuyuschikh predpriyatiy v usloviyakh sanktsiy [Strategy for socio-economic development of the city-forming enterprises in conditions of sanctions]. Ekonomika i upravlenie: nauchno-prakticheskiy zhurnal. (1(129)). 17-21. (in Russian).
Birkie S. (2018). Exploring business model innovation for sustainable production: lessons from Swedish manufacturers Procedia Manufacturing. (25). 247-254.
Druker P. (2003). Effektivnoe upravlenie. Ekonomicheskie zadachi i optimalnye resheniya [Effective management. Economic tasks and optimal solutions] M.: Grand-Fair. (in Russian).
Garifova L. (2014). The Economy of the Digital Epoch in Russia: Development Tendencies and Place in Business Procedia Economics and Finance. (15). 1159-1164.
Kováč J., Rudy V. (2014). Innovation production structures of small engineering production Procedia Engineering. (96). 252-256.
Larsson L., Stahre J., Warrol C., Öhrwall Rönnbäck A. (2018). An Assessment Model for Production Innovation: The Program Production 2030 Procedia Manufacturing. (25). 134-141.
Li Y., Zhan C., de Jong M., Lukszo Z. (2016). Business innovation and government regulation for the promotion of electric vehicle use: lessons from Shenzhen Journal of Cleaner Production. (134А). 371-383.
Markatou M. (2015). Incentives to Promote Entrepreneurship in Greece: Results based on the ‘New Innovative Entrepreneurship’ Program Procedia - Social and Behavioral Sciences. (195). 1113-1122.
Mas-Tur A., Moya V. (2015). Young innovative companies (YICs) and entrepreneurship policy Journal of Business Research. (68-7). 1432-1435.
Pogodaeva T., Zhaparova D., Efremova I. (2015). Changing Role of the University in Innovation Development: New Challenges for Russian Regions Procedia - Social and Behavioral Sciences. (214). 359-367.
Severo E.A., Guimarães J., Dorion E. (2017). Cleaner production and environmental management as sustainable product innovation antecedents: A survey in Brazilian industries Journal of Cleaner Production. (142-1). 87-97.
Shumpeter Y. (2008). Teoriya ekonomicheskogo razvitiya [The theory of economic development] M.: DirektMedia Pablishing. (in Russian).
Tomczak-Horyń K., Knosala R. (2017). Evaluation of Employees’ Creativity as a Stimulator of Company Development Procedia Engineering. (182). 709-716.
Uslu T., Bülbül I., Çubuk D. (2015). An Investigation of the Effects of Open Leadership to Organizational Innovativeness and Corporate Entrepreneurship Procedia - Social and Behavioral Sciences. (195). 1166-1175.
Yakokka Li (2017). Karera menedzhera [Career of a manager] M.: Izdatelstvo «Popurri». (in Russian).