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Evaluating the effectiveness of the organization's innovative development strategy

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Introduction: This article examines the process of evaluating the effectiveness of the strategy of innovative development of organizations. Organizations are increasingly resorting to developing an innovative development strategy to improve the efficiency of business processes and improve their competitive position in the market. The purpose of this research is to study methods for evaluating the effectiveness of the strategy of innovative development of the enterprise. Data and Methods: The usage of the balanced scorecard is chosen as the main evaluation method. The scope and possibilities of applying the ranking method and the method of expert estimates in the distribution of indicators to determine the class of innovation, as well as the statistical method are analyzed. Based on the results obtained, the formula for evaluating the effectiveness of the strategy has been modernized, taking into account the innovation component. The qualitative and quantitative methods for assessing the risks of the strategy of innovative development of the organization, such as the method of analyzing the acceptability of costs, methods of analogies, expert assessment, have been analyzed. Analysis of Results: In the course of the study, an algorithm was developed for evaluating the effectiveness of an innovation development strategy, which takes into account all the main aspects of the organization’s activities (financial aspect, customer satisfaction, internal business processes, human resource level), which allows to obtain more accurate information about the possibilities and effectiveness of the strategy. The results of the study are recommended for usage in enterprises that are actively engaged in innovative activities.

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