Strategic Management of Innovative and Investment Development of Ukrainian Electric Power Enterprisesin the Conditions of Unstability Cover Image

Стратегічне управління інноваційно-інвестиційним розвитком підприємств електроенергетики України в умовах нестабільного середовища
Strategic Management of Innovative and Investment Development of Ukrainian Electric Power Enterprisesin the Conditions of Unstability

Author(s): Iryna Petrova
Subject(s): National Economy, Business Economy / Management, Energy and Environmental Studies, Environmental and Energy policy, Accounting - Business Administration
Published by: Центральноукраїнський національний технічний університет
Keywords: innovation and investment development; strategic management; strategic priorities; electric power companies; challenges and threats; investment project; electric power infrastructure ;

Summary/Abstract: An underdeveloped competitive environment, a high level of monopolization of key types of economic activity, insufficient financial and organizational support for the creation and implementation of innovations restrain the innovative activity of enterprises and reduce the competitiveness of enterprises on the domestic and world markets, exacerbating the problem of their economic security. On the other hand, the economic insecurity of enterprises makes their efforts in the direction of innovative activity impossible. This is confirmed by the analysis of statistical indicators of the development of electric power enterprises, which ensures the activity of all other spheres of the national economy of Ukraine. For a long period, the innovation and investment function of enterprises in the electric power sector was implemented inefficiently, as evidenced by the low international rating of Ukraine according to the "energy productivity" subindex. This contradicts the goals of achieving the strategic priorities of innovative development, among which the development of new energy transportation technologies, the introduction of energy-efficient, resource-saving technologies, and the development of alternative energy sources are legally defined. The financial condition of the electric power enterprises of Ukraine is critically deteriorating as a result of significant losses caused to this sector of the country's economy by the Russian aggressor. In such conditions, it becomes urgent to search for and attract investment resources to update fixed assets and ensure innovative development of electric power enterprises in accordance with the main provisions of the State Energy Strategy. The specificity of the investment project in the electric power sector as an important tool of strategic management was considered and its types were identified depending on their purpose: the creation of new energy facilities with the aim of expanding production capacities or commissioning new energy sources; reconstruction through modernization and improvement of existing energy facilities; increasing their scale and capacities; temporary conservation with future deconservation. The leading strategic direction of innovation and investment development is the creation of an effective and reliable electric power infrastructure aimed at ensuring the conditions for the direct sale of electric power from generating companies to the consumer.

  • Issue Year: 2023
  • Issue No: 9 (42)
  • Page Range: 39-49
  • Page Count: 11
  • Language: Ukrainian