INNOVATION IN MANAGEMENT - THE GUARANTEE OF SUSTAINABLE BUSINESS

Abstract

The article identifies the role of innovation in management as a basis for sustainable business. Today fully shows the impact of business, especially small and medium, on the economy as a whole. The relevance of this article in quarantine has only increased, because in order to survive this battle with a very dangerous virus and not decline, the company needs to activate innovation in its work. In today's conditions and fast pace of change to remain stable and competitive, organizations need to surprise, create something new and unknown to anyone before. In addition to the importance and impact of business on the Ukrainian economy, the article examines the emergence of innovative technologies in business process management, presents scientists, both foreign and domestic, who have studied this topic, and based on their work in the history of business management and innovation. Some aspects of the impact on socio-economic relations are revealed. Also, when studying this issue, the possibility of solving problems, if they arise, by studying and considering certain criteria, where weaknesses will be identified in the points that can be overcome by choosing a specific approach. Like any system, business process management has its drawbacks, so the work revealed the shortcomings of the mechanism of innovative development of enterprises. In addition, the importance of the human worker was considered as an important element of the organization system, as taking into account human qualities and the importance of employees is the driving force of enterprise stability. The importance of considering the employee as an individual and its significance, will reduce the outflow of cards, which will only strengthen the company and its status. The paper also considers the role of staff for the competitiveness of the enterprise, its impact on competitiveness, originality, quality of goods.