Investment and innovation development of the national economy on the principles of digitalization and design management

Keywords: investments, innovations, national economy, digitalization, design management

Abstract

Modern economic processes in Ukraine require the active introduction of innovations and investments to increase the level of the state’s competitiveness at the international level and national security. A well-thought-out investment and innovation policy provide its participants with favorable economic conditions for investing in business development, focusing on improving the competitiveness of their activities. The intensity of this process is primarily due to the ability to quickly achieve the goals of its participants. Therefore, the creation and implementation of an effective, adequate to modern requirements, investment, and innovation policy in Ukraine are possible with digitalization and design management. After all, the period of information technology dictates the spread of digitalization and new management approaches (design management), taking into account the priorities of which is a prerequisite for building a competitive economy. The purpose of the article is to reveal the process of investment and innovation development of Ukraine based on digitalization and design management. The article investigates the directions of the development of modern digital and information technologies. Particular attention is paid to the areas of digitalization and design management of economic entities in Ukraine. Features of modern processes of digitalization and design management are described. The essence of the concept of digitalization and design management is revealed. Problems of digitalization and design management formation are identified. It is proved that today for the country's economy the use of digitalization creates several competitive advantages in terms of operational processes of enterprises, namely increasing their level of transparency and ability to make timely management decisions, instant exchange of information between competent employees, marketing research and systematic approaches to the response. It is important to note that this can happen at all enterprises of all spheres of economic activity because the process of digitalization is formed on the principles of coherence, timeliness, efficiency, crisis prevention in a particular area. As well as design management is also one of the newest directions and methods of development of various economic entities, and it should be used in Ukrainian practice, as design management allows us to make forecasts for the future, and this is a priority business strategy and its guarantee for success.

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Published
2019-09-30
How to Cite
Popadynets , N., & Zhuravel, Y. (2019). Investment and innovation development of the national economy on the principles of digitalization and design management. Bulletin of Sumy National Agrarian University. Economics and Management, (3(81), 132-135. https://doi.org/10.32845/bsnau.2019.3.24