MANAGEMENT OF INNOVATION AND INVESTMENT ACTIVITIES OF THE CONSTRUCTION BUSINESS

  • І.І. Мазур Київський національний університет імені Тараса Шевченка https://orcid.org/0000-0002-2441-8001
  • М.В. Коротун Київський національний університет імені Тараса Шевченка
Keywords: innovations, investments, management system, construction enterprises, investment activity

Abstract

Ensuring the sustainable economic development of construction enterprises requires a coordinated solution to the problems of forming technological, institutional, and organizational structures capable of combining all the necessary elements into a general reproductive process of growth of economic potential. The research aims to analyze the features of innovation and investment activity of construction enterprises. The author considers the construction sector as a system that includes customers, contractors, subcontractors, suppliers, consultants and designers. Technological innovations (products and processes) are driven primarily by suppliers (manufacturers), while service and organizational innovations tend to be driven by contractors. Innovations in the construction sector have been studied for several decades. Although the subject was studied from both an individual company and an industry perspective, emphasis was placed on the latter perspective. The construction sector has several characteristics that influence innovation management. Value chains in the sector are typically long and complex in nature, activities are project-based, regulatory influence on the sector is significant, and the industry is often considered conservative. The authors believe that the main condition for the effective use of investment management tools is the development of a sound investment strategy based on a comprehensive multidimensional analysis of the prospective investment object. In this regard, it becomes clear that innovative activity is, in fact, the only area of investing investment resources that contributes to obtaining a stable income and has a synergistic effect. The management structure of the enterprise's investment strategy is based on the interaction scheme of production and operational processes. Functions, powers, and responsibilities of all parties in investment development and improvement should be clearly defined, taking into account the probability of risks and uncertainties of modern construction.

Published
2022-09-30
How to Cite
Мазур, І., & Коротун, М. (2022). MANAGEMENT OF INNOVATION AND INVESTMENT ACTIVITIES OF THE CONSTRUCTION BUSINESS. Scientific Notes of Lviv University of Business and Law, 34, 12-18. Retrieved from https://nzlubp.org.ua/index.php/journal/article/view/567
Section
Articles