Subochev O. offers to distinguish innovation and investment strategies of
industrial enterprises according to the following features:
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according to the risk degree – preventive,
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according to the degree of dependence from investment resources – mixed
funding,
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according to the type of innovation and the level of its development – self-
reliance,
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according to the period of investment planning in innovations – medium-term,
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according to the degree of participation of an enterprise in the innovation process
– moderately aggressive.
Venture activity, characterized by high risk and peculiarities of funding, requires
special strategies for its implementation.
Combined usage of strategic analysis tools allows taking mutually agreed
strategic decisions on creation, production, and promotion of innovative products on
the market [20].
Taking into account that scholars distinguish all strategies related to venture
activities by various features (according to risk types, as a special feature of
innovations; according to types of innovations; according to the essence of innovations
themselves; their levels etc.), but do not distinguish venture strategies. We suggest
distinguishing their classification criterion: “According to the types of venture
activities” and include to it the following strategies:
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the breakthrough strategy;
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the imitation (copying) strategy,
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the minimum effort strategy.
Under the breakthrough strategy of the industrial enterprise we understand such
a general, complex action program for all levels of enterprise management (corporate,
business and product level), aimed at implementing such strategically important areas
of its development, related to the change in its mission and organizational management
structure, reformatting of a business portfolio.
Under the imitation (copying) strategy we understand such a complex program
of actions of a venture enterprise, based on usage of successful experience (first of all,
international) when implementing ventures in its activities.
Under the minimum effort strategy, we understand such an action program of a
venture enterprise, based on gradual development with the implementation of venture
projects and self-reliance.
Such distinguishing of venture strategies enables to expand their understanding
of focusing attention on the peculiarities inherent to this type of activity.
Thus, the field of strategic initiatives for the venture project implementation at
the enterprise should include the above-mentioned characteristics, such as peculiarities
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