System of complex economic analysis of innovation...

System of integrated economic analysis of innovation activities

Complex economic analysis of innovation and innovation activity (KAAI) is used not only to assess the achieved level of the innovative position, activity and potential of the organization, but also to assess the change in this level under the influence of various internal and external factors that form an innovative climate.

Innovative climate is the state of the organization's external environment (conditions) that is appropriate or counteracts the achievement of strategic innovation goals.

An important position in the analysis of innovation activity is the innovative position of the organization, which is determined by a joint examination of the internal and external environment, i.e. innovative potential and innovative climate. Therefore, a comprehensive economic analysis of innovation is the most important means of identifying on-farm reserves to increase the level of innovation activity, the effectiveness of innovation and the sustainability of the organization. The results of this analysis are the basis for the development of management decisions in the innovation process.

The innovative activity of the organization almost always affects all subsystems (information, organizational, production, technological, etc.), and environmental factors influence the effectiveness of its implementation. From system positions, organization as a system is an element of the microeconomic environment, which, in turn, is part of the macroenvironment (Figure 4.7). The microeconomic environment of an organization is a microenvironment of business.

System representation of the company in the environment

Fig. 4.7. System presentation of the company in the environment

The microenvironment of business is an economic space in which the interaction of various economic entities takes place. They have their organizational structures and are elements of an entire microeconomic system, which, in turn, is a subsystem of the state's macroeconomic system. Interaction between these systems is carried out through an infrastructure that determines the nature of the links between the elements of the system through information, legal, administrative, fiscal and financial relations.

The micro-environment of business consists of the following systems: competitors, resource providers (resource market), buyers of products (market and product or service market), employees (labor market), financial institutions (financial market), investment funds and organizations (market investments). Economic relations between subjects of innovation are regulated by state legislation in the field of economic, investment, innovation and other activities.

According to the law of systems, any organization functions and develops only by exchanging resources with the external environment. Receiving all the variety of necessary resources and converting them into the final product, the organization carries out the commodity exchange of the product for a financial or other equivalent, which also can be a resource. The main corporate task of any organization in the market environment is to increase profits. However, with the strategy of innovative development, it is not a priority, since competitiveness and the organization's image on the market become more important. The external business environment is quite dynamic, and the nature of interaction with it is constantly changing, which requires qualitative changes in the production, management and marketing processes, i.e. innovation.

There are external and internal factors that stimulate the need for innovation. To external factors include: trends in the national economy, technology development, the actions of competitors, the needs of investors and consumers. Investors demand an increase in the rate of return on invested capital and the average market level of the premium for risks. Competitors are constantly changing their strategic actions to strengthen their competitiveness. In these conditions, the organization is forced to implement these or other innovations as an adequate reaction to the factors of the external business environment in order to strengthen its positions. Therefore, an important element of the analysis of innovation is a comprehensive study of the factors of demand and the financial market.

To internal factors can be attributed to the preferences of owners and managers of the organization regarding methods for increasing the return on investment capital and the cost of equity (business value), the efficiency of using available resources and improving the competitiveness of products (services). Therefore, a comprehensive economic analysis of the state of the organization (rating analysis) allows you to really assess the capabilities of the enterprise, to substantiate the strategic objectives for choosing the type of innovation, sources of investment and forecasting the results of investment and innovation activities. Schematically, the relationship of all types of analysis of the economic entity can be represented as the integration of strategic, managerial and financial analysis (Figure 4.8).

Interrelationships of the main types of organization analysis

Fig. 4.8. Interrelationships of the main types of organization analysis

As follows from Fig. 4.8, the analysis of innovations is the basis for the development of strategic solutions to innovation. Innovative activity has a systemic impact on all activities, and therefore it is not possible to single out it in the accounting system. However, the allocation of innovative products and processes in the analytical accounting, reflecting income and expenditure by type of activity, is the current practice. According to the existing plan of accounts, sales are accounted for by product types, as well as by sales markets. Accounting of costs and costing of production processes and units is the main element of the accounting system. Summarizing the information of the accounting system for the current management in the form of internal reporting allows you to assess the real economic effect of innovation.

In economic analysis, it is necessary to single out the analysis of innovations as a separate, independent element. The analysis of innovation activity is carried out according to the following groups of indicators (Table 4.3).

Table 4.3

Innovation Performance Indicators

Innovation Performance Indicators

Indicators of the use of innovation results

Performance Indicators from Innovation Activities

- Volumes of scientific research, scientific and technical activity, design and engineering work

- production volumes of prototypes;

- volumes of scientific and technical services

- Number of new product types by year;

- the share of new types of products in the total volume but for years;

- competitiveness of products in the domestic and world markets;

- the degree of progressiveness of technology;

- the volume of work on the technical improvement of production, their absolute and relative change by year;

- economic results: the increase in profit as a result of introducing the results of innovation, reducing the resource intensity of products, etc., which are calculated by years, determined by their absolute

and relative change

- Commercial (financial) effect;

- the budget effect;

- general economic effect

Explanations of the table.

Commercial effect means the financial and economic result from the implementation of an innovative product for participants in innovation. It is calculated as the difference between the financial result and expenses, it can be higher or lower than zero.

Budgetary effect means the financial and economic result of innovation, calculated for the federal, regional and local budgets. It is calculated as the difference between the income received and expenditure incurred in the budget under consideration.

The general economic effect is determined as a result of the introduction and development of innovation activities for the entire economy of the country, including the economy of the regions in various sectors. In more detail, all types of effects of innovation are considered in paragraph 7.1.

The system of integrated economic analysis of innovation activities can include the following blocks:

1) preliminary analysis of innovative positions and the potential of the organization;

2) analysis and evaluation of the organization's strategy;

3) analysis of production resources, sales and sources of financing;

4) long-term analysis of options for the development of the organization and the definition of the need for innovation;

5) determination of the need for investment, analysis of investment alternatives;

6) analysis of R & D costs and acquisition of intangible assets;

7) the current analysis of the costs of acquiring and creating fixed assets;

8) analysis of the organization's revenues, expenses and financial results;

9) analysis of cash flows and valuation of the firm;

10) retrospective analysis of innovation and evaluation of achievement of strategic goals.

Complex economic analysis of innovation activity is an interconnected system of all types of analysis of external factors and the internal innovative potential of the organization for implementing the strategy of innovation and investment activity (Figure 4.9).

Integrated economic analysis of innovation and innovation involves four main stages. Blocks 1 and 2 constitute the first stage of analysis - this is the process of forming an innovative strategy taking into account external and internal factors.

At the first stage, the innovative potential of the organization is assessed, i.e. a set of various types of resources, including material, financial, intellectual, scientific and technical and other necessary for the implementation of innovative activities. The innovative potential includes such institutional conditions as: various financial and social normative legal acts of the federal, regional and municipal levels.

System of Complex Economic Analysis of Innovations

Fig. 4.9. The system of integrated economic analysis of innovation

The first stage consists of the analysis:

- the research base;

- estimates of production facilities and capacities;

- financial and economic resources;

- information resources;

- Qualified personnel

- production technologies and know-how;

- distribution networks for promoting goods to markets.

Special attention is paid to the rationality and validity of the distribution of funds between the main components of resources.

Evaluated the role of equity in order to build intellectual capacity. It is necessary to identify how the structure of innovation potential changes in dynamics over periods, as it is influenced by the main technical and economic factors.

At the second stage, the innovation activity of the enterprise is analyzed on the basis of the dynamics of the change in the amount of expenditures for innovation activity and the number of innovative projects under development in the reporting period in comparison with the previous one. The influence of the main factors on the change in these indicators is revealed. Then internal reserves of increasing the innovative activity of the enterprise are revealed.

Analyze: the current state of production, financial and sales opportunities, forecast future situations, select options for innovative projects within the framework of the strategy developed, select investment activity models (Table 4.4), develop investment projects (blocks 3-5).

Table 4.4

Factors influencing the choice of the model of innovation activity

External factors

Internal factors

1. Trends in the development of the world economy

2. Trends in the development of the national economy

3. Legal support

4. Technology development

5. Actions of competitors

6. Needs and requirements of investors

7. Consumer demand for innovative products

1. Preferences of owners and managers in choosing methods

2. Increase in return on investment capital

3. Increase in the cost of business (equity)

4. Effective use of disposable resources

5. Enhancing the competitiveness of products (services)

At the third stage, a quantitative assessment of the results of innovation is made based on a comparison of the revenue and expenditure system for the full cycle of the innovation process, the analysis of cash flows, the valuation of the business value (market value or actual net present value) (blocks 6-10).

At the fourth stage of the analysis, a qualitative assessment of innovation activity is carried out (block 11). The basic form of evaluation is the form of statistical observation No. 4-innovation "Information on the organization's innovation activity" for large enterprises and form No. 2 MP-innovation "Information on technological innovation of a small enterprise". At this stage, the effects of the innovations implemented by the organization and their impact on the performance indicators of the enterprise are evaluated. Then, possible reserves of improvement of these indicators are revealed.

Form No. 4-Innovation Information about the organization's innovation activity is the basic information basis for the evaluation of innovation activities and includes information on the resources and results of innovation activities (Table 4.5).

Table 4.5

Statistical Scorecard Form # 4-Innovation

Aggregate statistical indicators

Innovative products, services:

- according to the level of novelty;

- in terms of competitiveness

Costs of technological innovation:

- by type of innovation;

- by source of funding;

- by type of innovation

Research units

The results of innovation:

- influence on the sales markets;

- improving the quality of products;

- cost savings

Factors hampering innovation

Sources of information for the formation of innovation policy

Cooperation in Innovation

Technological Exchange

Methods of protection of scientific and technical developments

Organizational, marketing and environmental innovation

Organizational, marketing and environmental innovation costs

The analysis of innovation activity is carried out by separate groups of indicators: indicators that characterize the institutions engaged in innovation activities; indicators of innovation results; indicators of the use of innovation results; indicators of the effect of innovation. These indicators can be grouped according to two criteria: resources and results of innovation that contain basic information about the potential of the organization and the real content of the results as innovative products (services) (Figure 4.10).

Information about innovation activities>

Fig. 4.10. Information on innovation

The results of the current and retrospective (forecast) analysis (see Figure 4.9) are used to adjust marketing, investment and financial policies, as well as for the organization's strategy (feedback between blocks: 10-5 and 11-2).

At present, the content of a comprehensive economic analysis of innovation and innovation is constantly changing and improving under the influence of political and economic factors, changes in foreign economic relations, increased influence of risk factors and uncertainty on the results of economic activities of innovation entities. The target orientation of the integrated economic analysis from the control functions to the justification of management and investment decisions in the innovation process aimed at finding methods for optimizing the resource support of innovative projects and assessing the feasibility of investing is changing.

Based on the results of a comprehensive economic analysis, the feasibility of developing and implementing management solutions aimed at improving the efficiency of innovation activity and the sustainability of enterprise operation in a competitive environment is justified.

It should be noted that such analysis can be carried out in different accents and degree of depth depending on the main categories of users and their economic interests.

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