Forming an innovation-oriented project team in a fast-growing company

The purpose of the study is to find and develop approaches to an innovation-oriented team formation. The general scientific methods of analysis, synthesis, and scientific abstraction were applied. Under the conditions of constraints, the fast-growing companies sector makes a significant contribution to a country’s economic growth by creating strong and breakthrough innovation. The special role of a project team as a powerful innovation resource and competitive advantage of a fast-growing company has been outlined. Innovative teams identification among a multitude of project initiative groups is an important factor of a fast-growing organization efficiency. From the point of view of practice and management science, the issue of finding approaches to forming and developing innovative project teams in high-growth companies has been formulated. The key characteristics of an innovative project team, which are related to its activity on creating and implementing innovations, have been identified and analyzed. High flexibility and adaptability, creative potential presence, synergistic thinking, willingness to risk, and distributed leadership are profile characteristics of an innovative project team, the formation and development of which contributes to innovation activity and growth of a company. The profile of an innovation-oriented project team in a fast-growing company has been proposed as an impulse and functional scope of its effectiveness. Examples of innovation-oriented project teams from the practice of fast-growing companies have been presented. The study results can be used in organizations of various types of activities to develop effective strategies, policies, and practices of human resource management in project activities.