MODELING STRATEGIES AND TACTICS FOR MANAGING FINANCIAL SUPPORT FOR INNOVATIONS IN THE TELECOMMUNICATIONS INDUSTRY

The article argues that effective management of financial resources is a key factor in the successful innovative development of telecommunications enterprises. The constant pressure of competition and rapid development of technologies require telecommunications companies to constantly update and adapt, which, in turn, requires effective management of financial resources. The existing problems in the financial support of innovations in Ukraine require a comprehensive solution at the strategic and tactical levels. The proposed model of financial support management can help to increase the efficiency of innovation activities and improve the financial condition of telecommunications enterprises. Implementation of the model for managing financial support for innovation development provides a clear mechanism that includes several stages: development and approval of a strategic plan for innovation development of an enterprise; creation of a project management system that takes into account financial aspects allows for effective management of innovative projects and control of their financial performance; engagement of external experts and consultants to evaluate innovative projects can ensure objectivity and professionalism in the decision-making process; monitoring and analysis of financial results of innovative activities allows for assessment of investment efficiency and adjustment of financial policy; adjustment of financial policy based on monitoring results Implementation of strategic and tactical recommendations that take into account both macroeconomic factors and the specifics of the telecommunications industry will help to increase their competitiveness in the global market. To assess the effectiveness of management of financial support for the innovative development of telecommunications enterprises, it is necessary to use the system of key performance indicators presented in the article.

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Publication Details

Journal
Market Infrastructure
Published
2025-01-01
DOI
https://doi.org/10.32782/infrastruct82-32
Primary Topic
ICT Impact and Policies
Type
article
Field-Weighted Citation Impact
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article

MODELING STRATEGIES AND TACTICS FOR MANAGING FINANCIAL SUPPORT FOR INNOVATIONS IN THE TELECOMMUNICATIONS INDUSTRY

Н. М. Котвицька
Market Infrastructure
ICT Impact and Policies
article

MODELING STRATEGIES AND TACTICS FOR MANAGING FINANCIAL SUPPORT FOR INNOVATIONS IN THE TELECOMMUNICATIONS INDUSTRY

Н. М. Котвицька
article en

Abstract

The article argues that effective management of financial resources is a key factor in the successful innovative development of telecommunications enterprises. The constant pressure of competition and rapid development of technologies require telecommunications companies to constantly update and adapt, which, in turn, requires effective management of financial resources. The existing problems in the financial support of innovations in Ukraine require a comprehensive solution at the strategic and tactical levels. The proposed model of financial support management can help to increase the efficiency of innovation activities and improve the financial condition of telecommunications enterprises. Implementation of the model for managing financial support for innovation development provides a clear mechanism that includes several stages: development and approval of a strategic plan for innovation development of an enterprise; creation of a project management system that takes into account financial aspects allows for effective management of innovative projects and control of their financial performance; engagement of external experts and consultants to evaluate innovative projects can ensure objectivity and professionalism in the decision-making process; monitoring and analysis of financial results of innovative activities allows for assessment of investment efficiency and adjustment of financial policy; adjustment of financial policy based on monitoring results Implementation of strategic and tactical recommendations that take into account both macroeconomic factors and the specifics of the telecommunications industry will help to increase their competitiveness in the global market. To assess the effectiveness of management of financial support for the innovative development of telecommunications enterprises, it is necessary to use the system of key performance indicators presented in the article.

Market Infrastructure(82)
Openalex Percentile: Top 84%
ICT Impact and Policies
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