METHODOLOGICAL FRAMEWORK FOR ASSESSING THE ENTERPRISE MODERNIZATION PERFORMANCE IN THE CONTEXT OF REALIZING ITS INNOVATIVE POTENTIAL

Abstract

The growing dynamism of the intellectualization and logistics of business processes is generating demands for updating the toolkit to assess the enterprise modernization performance and realize its innovative potential. It is argued that the evaluation of modernization efficiency and the design of enterprise innovative development strategies should rely on innovation and R&D trends and achievements. An in-depth study of the external and internal environment in which an enterprise operates helps to reveal the patterns and specifics in its innovation potential assessment paradigm. Thus, the framework to assess the enterprise innovation potential efficiency is based on its production, financial and investment performance evaluation. The consistency in modernization performance suggests following the principles of universality and comparability. Since the use of classical innovation efficiency indicators does not allow for considering the qualitative characteristics of modernization changes, a new framework to assess the modernization performance has been developed which is based on economic and mathematical analysis methods and is aimed at building an integrated index. The integrated index of modernization efficiency will help to determine the modernization potential level, the effects from a range of impact factors on the change of the modernization profile, as well as to reveal the trends of innovative development. This contributes to describing the proposed evaluation framework subject to initial enterprise modernization objectives and its strategic priorities for innovative development. Further research should focus on identifying specific methodological approaches to assessing the performance of modernization changes in line with the overall business strategy to enhance the enterprise innovative potential.