Abstract:

It becomes increasingly difficult nowadays to function and maintain competitiveness for innovative enterprises. The paper substantiates that, based on the construction of economic models of an enterprise, it is possible to identify elements of enterprise management, determine the relationship between them and build an effective management concept. An effective management concept allows enterprise’s management to respond quickly to the market’s changing conditions.

The economic model of an enterprise is a management tool based on the use of economic criteria for the effectiveness of innovation activities. In our opinion, the Economic Value Added model can be used as such model. The specificity of the enterprise’s "innovation activity" in this case is as follows:

• in the specific sources of funding introduction;
• in the development of the innovation process, as a single process for managing the production and use of innovative products;
• in the development of optimization’s models of the innovation process.

The article presents the economic model of the enterprise, developed taking into account the specifics of innovation. It is substantiated, that such a model can be a concept of effective management for enterprises.