Organizational and Economic Financing Mechanism for the Innovative potential of Enterprise Staff

• Main Authors: Adamenko Maryna V., Kashubina Yuliia B.
• Format: Article
• Language: English
• Published: PH "INZHEK" 2020-12-01
• Series: Problemi Ekonomiki
• Subjects: efficiency; financing; innovative potential of staff; organizational and economic mechanism
• Online Access: https://www.problecon.com/export_pdf/problems-of-economy-2020-4_0-pages-119_125.pdf

The article gives ground for the need to form organizational and economic mechanism for effectively managing the process of financing the innovative potential of an enterprise. The existing research papers in this area do not pay the necessary attention to the issue. Some fragmentary studies, though do exist, still do not give a holistic and systematic view of the processes, goals, objectives, indicators and criteria, functions, tools for financing the innovative potential of enterprise staff. The genesis of scientific thought about the essence of the "organizational and economic mechanism" concept was considered through systematizing and generalizing various scientific works on the issue. The research has resulted in defining the essence of the organizational and economic mechanism for financing the innovative potential of an enterprise staff; pointing out its basic essential characteristics; describing the system of its constructive principles. The authors have designed an organizational and economic mechanism for financing the innovative potential of an enterprise staff through combining targeted, process, functional and support approaches. At the same time, the authors have taken into account the fact that the abovementioned mechanism is considered as an open system, which has entrance (external factors and financial capabilities of employees and enterprises); exit (financial results); and the internal structure of the organizational and economic mechanism, which is schematically presented in the article. Besides, the system has a cyclical pattern and provides feedback. It has been proven that it is necessary to evaluate the economic efficiency of the organizational and economic mechanism for financing the innovative potential of the staff at each stage of its formation and operation. The practical application of the suggested organizational and economic mechanism allows the enterprise management to improve the financing of the innovative potential of the staff in accordance with the goals and efficiency criteria set at the enterprise.