Economic Analysis: Theory and Practice

An algorithm to forecast a strategy of innovative activities of enterprises

Vol. 16, Iss. 11, NOVEMBER 2017

Received: 18 May 2017

Received in revised form: 12 September 2017

Accepted: 17 October 2017

Available online: 29 November 2017

Subject Heading: Innovation

JEL Classification: С5, С32, О2, О11

Pages: 2111–2122

Ustinova L.N. Kazan State University of Architecture and Engineering, Kazan, Republic of Tatarstan, Russian Federation

Nizamova A.Sh. Kazan State University of Architecture and Engineering, Kazan, Republic of Tatarstan, Russian Federation

Virtsev M.Yu. Kazan State University of Architecture and Engineering, Kazan, Republic of Tatarstan, Russian Federation

Importance The current state of the industrial production market necessitates the development of universal valuation techniques and new approaches to innovative capacity management enabling to enhance the efficiency of tangible and intangible business opportunities of enterprises.
Objectives The study aims to develop an algorithm to predict innovative business strategies. To meet the challenge, we analyzed the interpretation of innovative capacity, the existing approaches to its management, and developed an algorithm to forecast an innovative activity strategy of enterprises.
Methods The study employs a systems approach and a data analysis method, using a correlation and regression analysis.
Results We developed an algorithm to forecast a strategy of innovative activities of enterprises based on their innovation profile.
Conclusions and Relevance The practical significance of the study is that the offered methodology can be applied to enterprises of different size and industry affiliation.

Keywords: innovative capacity, intellectual capital, management, economic systems


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