Subject The article focuses on models for strategic management of profit-making entities in Russia. Objectives The study identifies and analyzes models used to manage businesses in Russia and provides guidance for improving the strategic management of their innovative activities and develop the innovation-driven type. Methods The study employs methods of analysis, synthesis, and logic research through the creative data approach. Results We analyzed key distinctions of management, including strategic one, in profit-making entities and development tendencies of the Russian management model for businesses. We provide our advise on the development of a robust strategic management system in Russia so as to spur the innovative growth of businesses. This initiative implies the adoption of new principles for innovation and business management in the highly competitive environment, innovative methods of product and service promotion. The novelty herein is that the article analyzes the management models in the Russian businesses and recommends on how the strategic management of their innovative development can be improved consistently with the current trends and global market of products and business services, including e-commerce. Conclusions and Relevance Strategic management serves for making the innovative development of businesses more efficient and improving their innovative activities.
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