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Formation of an Innovating Culture for International Companies in the Context of Global Development
Otenko I. P.

Otenko, Iryna P. (2023) “Formation of an Innovating Culture for International Companies in the Context of Global Development.” Business Inform 12:65–76.
https://doi.org/10.32983/2222-4459-2023-12-65-76

Section: Innovative Processes

UDC 330.341.1

Abstract:
For the third year in a row, according to the results of research by global consulting agencies, international companies-leaders consider innovation to be the number one priority among their corporate goals. Most companies declare their readiness to invest in breakthrough innovations related to digital technologies, artificial intelligence, and smartization of business processes. The criteria for the readiness of such companies are: intensification of the search for talents that generate new ideas and have the ability to implement them into reality, turn investments into results; use of new business models and a wide range of strategic tools; strengthening innovative platforms of knowledge and practice; organization or participation in ecosystems with the involvement of external partners and competitors. Leadership is based on a strong culture of innovation, which is represented by the principles, norms and rules of strategic thinking, flexibility, mobility in decision-making and implementation of decisions. The article analyzes the features of the formation of a culture of innovation by international companies that are established as leaders in creating new sources of income and values, products and markets; the common attributes of innovation culture are defined – compliance with the principles of social and environmental responsibility, possession of elements of leadership and teamwork, readiness for effective implementation of innovations, productivity and resilience to threats.

Keywords: leading companies, culture of innovation, common signs, principles, development trends, digitalization, analysis, assessment methodology.

Tabl.: 5. Bibl.: 26.

Otenko Iryna P. – Doctor of Sciences (Economics), Professor, Professor, Department of International Economic Relations, Simon Kuznets Kharkiv National University of Economics (9a Nauky Ave., Kharkiv, 61166, Ukraine)
Email: [email protected]

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