INNOVATIVE TOOLS FOR THE DEVELOPMENT OF FOREIGN ECONOMIC ACTIVITIES OF ENTERPRISES

Abstract

The article is dedicated to the topical issues related to the definition of investment and innovation priorities for sustainable development of the enterprises, particularly focusing on forming a systemic approach to identifying innovative tools for the development of foreign economic activities of enterprises (FEA). The current crisis in Ukraine, caused by military actions, necessitates the search for and development of innovative, non-standard approaches to ensure the future development of enterprises, especially those focused on expanding foreign cooperation. These enterprises face not only internal crisis impacts but also external market specificities, such as hyper-competition, global influences, and intensive technological development. In the article was analyzesd and systematized factors of innovative development. The research identifies several key drivers for exploring innovative development opportunities for the FEA of Ukrainian enterprises: the necessity for market diversification due to potential military conflict-related market restrictions; the probability of international economic isolation, which requires new management approaches to foreign trade to preserve international partnerships; and the need to adapt to changes in global supply chains, where innovative FEA tools allow adaptation and finding alternative routes for raw material supply and finished product sales. The systemic approach to the innovative toolkit for FEA development is structured across several key parameters: Level of Innovative Tool (Macro-level and Micro-level); Hierarchy of Innovative Tools (Mechanism, Strategy, Program, and Project); Nature of Innovation (Technological innovations, Organizational innovations, Marketing innovations, Financial innovations and Ecological innovations). The application of these tools is supported by analytical data showing significant improvements in cost reduction, cycle time, and market reach. A significant emphasis is payed to the Digital Transformation of FEA as a critical accelerator for the recovery of the Ukrainian industrial sector. It was systematized key digital tools, presenting their potential for post-war recovery: ERP-systems, CRM-platforms, AI-analytics and Big Data, Blockchain-contracts, Export electronic platforms, and IoT-solutions. The article highlights that the implementation of digital solutions has significant potential for post-war recovery by reducing logistical and customs time lags, simplifying access to international tenders, and opening new export channels through B2B platforms.