BUILDING INNOVATIVE FRAMEWORKS TO ENHANCE INTEGRATED BUSINESS STRUCTURE DEVELOPMENT IN ENTREPRENEURSHIP
Keywords:innovation opportunities for integrated business structures, technological capacity, strategic management, innovative frameworks, innovation activity, integrated business structures, entrepreneurship
AbstractThe article presents the research findings on building innovative frameworks to enhance integrated business structure development in entrepreneurship. It is argued that integrated business structures that take into account the development trends and business activity rate to boost opportunities for the use of various organizational and legal management frameworks is the optimal management pattern to ensure entrepreneurship success. The study suggests that the specifics of business development strategy triggers the need to explore certain methodological aspects in management decision-making to boost integrated business structure activities. The article provides insights into specific features of innovative frameworks of integrated business structure development as well as identifies their structural elements. An emphasis is put that business structure performance is greatly affected by organizational, technical, financial, economic and operational business factors as well as the number of links in management chains. It is justified that in the context of selecting business structures, the integration goals and strategy are of critical importance. The study has identified the following structural elements of innovative frameworks to enhance integrated business structure development in entrepreneurship: providing targeted operational control in the areas of management; implementing strategic, systemic and tactical principles in the management process, ensuring optimal development of all business components subject to its key structural elements; type of organizational and legal business pattern; capital type and structure of integrating business structures; the model of financial arrangement and business interaction between the participants; management paradigm; the type of control; the degree of integration; the strategic priorities in business development.
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PROBLEMS OF DEVELOPMENT OF ECONOMY