THE CONCEPT OF INNOVATION AND ITS IMPORTANCE IN MANAGING IT IN JOINT-STOCK COMPANIES
Abstract
This paper examines the concept of innovation and highlights its critical importance in the effective management of joint-stock companies. Innovation is considered a key driver of sustainable economic growth, competitiveness, and long-term corporate development. The study explores the role of innovation in improving organizational performance, enhancing shareholder value, and strengthening market positions. Particular attention is given to the specific features of managing innovation activities within joint-stock companies, including corporate governance structures, investment decision-making, risk management, and strategic planning. The findings suggest that integrating innovation into corporate strategy enables joint-stock companies to adapt to changing market conditions and achieve stable development.
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