THE ROLE OF EXHIBITIONS IN MANAGING ENTERPRISE INNOVATIVE DEVELOPMENT

Abstract

The article provides insights into the role of exhibitions in managing innovative development of enterprises in various industries, with or without consideration of risks posed by the COVID crisis. Based on the results of previous research, the findings reveal that the process of innovation development management should involve management decisions made both on each of its structural elements separately and overall. An emphasis is put that the choice of company innovative development strategy and its market promotion strategy for products / services affect the significance and relevance of company exhibition participation as well as the need to plan the exhibition participation costs. The results of the survey of managers and executives in various sectors of the economy who participated in exhibitions during 2019-2020 demonstrate that these costs might also depend on the exhibition objectives and the formats perceived by managers within the overall plan of company innovative development management. The study discusses the major exhibition participation goals in the framework of implementing alternative strategies of enterprise innovative development along with providing evidence that exhibition participation is of the highest priority in case of implementing a novel strategy, and the lowest – in case of using a retro-innovation strategy. The case studies from the selected companies of consumer goods industries presented the goals and a brief description of the specifics of their participation in exhibitions in the process of managing their innovative development. The conclusion has verified that the exhibition participation priorities in the process of enterprise innovative development management vary significantly subject to industry affiliation and the selected strategy for innovative development as well as may result from various restrictions imposed by a pandemic, in particular. Apart from the above, the findings have identified the risks of exhibition activities during the COVID period and outlined anticipated trends of change in business decisions as to exhibition participation. It is argued that online exhibitions have proved a good alternative to traditional exhibitions activities, however they challenge the application of advanced digital technologies. The results of this study can be used to enhance enterprise innovative development management practices.