INNOVATIVE ACTIVITY AND ITS IMPACT ON IMPROVING ENTERPRISE COMPETITIVENESS

Abstract

In the rapidly evolving global economic landscape, innovation has emerged as a crucial driver of enterprise competitiveness. Today's businesses must navigate the swift pace of technological advancements, digital transformation, and intensifying competition. This necessitates the continuous development of novel products, services, and management approaches.

The implementation of innovations not only enhances operational efficiency but also elevates product quality, streamlines business processes, and bolsters market standing.

The importance of this topic is due to the fact that in the era of globalization and digital transformation, companies that fail to embrace innovation risk falling behind in the competitive landscape. The advancement of new technologies, automation, and the use of artificial intelligence and big data analysis present additional opportunities for organizations to enhance their efficiency. However, neglecting innovation can result in a decline in competitive advantages, the obsolescence of business models, and the loss of market positions.