Illiashenko S.
Doctor of Economic Sciences, Professor, Head of the Department of Marketing
and Management of Innovative Activity at Sumy State University, Sumy, Ukraine
Bozhkova V.
Doctor of Economic Sciences, Professor at the Department of Marketing and
Management of Innovative Activity at Sumy State University, Sumy, Ukraine
Derykolenko O.
Doctor of Economic Sciences, Assistant Professor at the Department of
Economics, Entrepreneurship and Business Administration at Sumy State University,
Sumy, Ukraine
APPROACHES TO DEVELOPMENT OF VENTURE STRATEGIES
FOR UKRAINIAN INDUSTRIAL ENTERPRISES
Introduction. The competitive behavior of an enterprise on the market can be
characterized, first of all, by its unique combination of strategic goals. The following
characteristics are a part of strategic tasks, management decisions etc., in the selected
field of activity. Despite significant scientific basis of methodological approaches to
the development of various types of strategies, the formalization of venture strategies
development for industrial enterprises (considering peculiarities of the venture and
investment components of this activity, as well as all types of risks inherent to business
activity in general) remains poorly formulated and requires detailed scientific basis.
Problematics of formulation and implementation of various strategies on
different levels is extensively researched in academic works, in particular by such
scholars as Lytvyn I. [1], Meskon M., Albert M. and Khedouri F. [2], Osovskoi G.,
Fishuk O. and Zhalinska I. [3], Maiorova T. [4], Shchukin O. [5] and others.
Thus, in the dissertation work Lytvyn I. [1, с.14-15] presents suggestions on the
analysis and selection of innovation activity directions, forms of venture activity
organization, venture projects and strategies of its implementation by means of a three-
dimensional model and two-factor matrices (“supply capacity – innovative capacity”;
“market potential – supply capacity”; “market potential – innovative capacity”).
Shchukin O. [5, с. 8] has proposed a conceptual approach to the synthesis of
project and operational management methods and development of a new approach to
investment portfolio formation and innovations in accordance with the defined scenario
of investment and innovation development strategies. This enables to diversify the
innovative strategy of an industrial enterprise in accordance with evaluation of
innovative strategic alternatives, investment opportunities of the enterprise on the basis
of flexible operational impact on the model of project management during the life cycle
of venture innovation projects.
- 353 -