Functions, Models, and Forms of the Innovative Development of a Company

The article contains a study of the dependence of the enterprise on the competitiveness of its innovative activity.Experts highlight factors refraining the innovative development of production: the absence of financing (85.7%); high expenses(40.3%); considerable credit rates (38.7%); a significant economic risk (24.1%); problems concerning raw materials (29.2%); theimperfect legislative framework (31.5%). In Vinnytsia region there has been a tendency of the decrease of a general amount of innovativeexpenses of light industry companies during the last years. As a result of the innovative activity next structural forms maybe highlighted: the reduction of transactional and operational costs; the re-projection and the expansion of the nomenclature ofcompany products; the optimization of an organizational and managerial structure of a company; the creation of a quality system;the certification according to appropriate standards.The formation of innovation development mechanism of light industry companies contemplates the complex implementation ofthe topical achievements of science and techniques (innovations) in a production and managerial activity and should be based onsuch conceptual principles: — resource provision: the existence of an appropriate amount of material, labor, technical, applied, andinfrastructural opportunities of companies for implementation of innovations and realization of system changes; — efficiency: thedynamic reduction of non-production costs, the increase of incomes of realization of products manufactured on the basis of newtechnologies; the expansion and strengthening rival positions of a company in a market; — balance: the existence of balanced systemof the quantitative and qualitative estimation of a finance and economic activity and of the estimation of efficiency of innovationimplementation and system changes; — controllability: the compliance of a factual state of an innovative process with a projectone, which is planned after processes of the management system change; — coherence: the synchronization of implementation ofinnovative processes and technologies with essential organizational changes according to time, terms, and resources. Taking intoconsideration the done research the author may conclude that the provision of high competitiveness of a light industry company ispossible in terms of the formation of effective management system of its innovation and investment development with account forall essential requirements and principles.