Research Article Open Access

Evaluation of Financial and Innovative Potential of the Commercial Organization based on the Definition of Financial Innovation Sustainability

Abstract

Theoretical and methodological researches show that there is no single opinion about approaches to estimating innovative capacity of economic entities. The work studies characteristics of innovative capacity within the resource-based approach. This approach reflects opportunities for innovation activity development, defines the strategy of innovational development, and combines innovation capacity with a specific level that identifies innovative capacity with scientific and technical, technological level. Through the theoretical and methodological standpoint it offers the approach to defining the essence of innovative capacity, generalizes classification of its types and kinds according to specific classification criteria, and systemizes the approaches to estimating innovative capacity. These are the following approaches: detailed approach, diagnostic approach, the approach based on estimating financial and innovational soundness of the organization and separate methods. In practice the innovative capacity of Russia was estimated by calculating the global index of innovations in comparison with other countries of the world according to the level of innovation opportunities and results. On the macro level the priority of the approach based on estimating financial and innovational soundness of the organization was rationalized. This approach is meant both for adequate estimation of its state and readiness for innovations implementation. As a result, key areas of using results of estimating innovative capacity on the macro, meso and micro levels were defined.

Viktoriya Valeryevna Manuylenko,Andrey Aleksandrovich Mishchenko, Olga Borisovna Bigday,Irina Sergeevna Mishchenko, Natalia Vladimirovna Sobchenko

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