Criteria for Evaluating the Effectiveness of Innovative Transformation of Business Structures

Abstract

The presented study comprehensively analyzes criteria for evaluating the effectiveness of innovative transformation of business structures, which involves step-by-step strategy development, its implementation, relevant management decisions, and controlling functions.Aim. By analyzing the features of transformation of business structures in modern geo-economic conditions, the study aims to propose conceptual approaches to the formation of criteria for evaluating the results of innovative transformations at all levels of socio-economic system management.Tasks. In accordance with the aim of the study, the authors propose approaches to classifying the innovative transformations performed by companies depending on market conditions; formulate a conceptual model of innovative transformations of business structures in accordance with the strategic goal of modernizing technological processes and services; examine methods for optimizing the stages of converting research and development into finished products based on digital technologies with allowance for the evaluation of the results of innovative transformations of companies.Methods. This study uses general scientific methods of cognition to examine specific features of innovative transformation of business structures and formulate conceptual approaches to evaluating the effectiveness of innovative processes in companies using mathematical modeling and digital technologies for building and analyzing algorithms for optimizing management decisions aimed at implementing innovative transformation at all levels of management with allowance for geopolitical risks and changes in the external environment.Results. A comprehensive analysis of theoretical and practical research allowed the authors to examine priority directions of innovative transformation of business structures at all stages – from a scientific idea, fundamental and applied research to the finished product or service, with allowance for financial and geopolitical risks. Innovative transformation of business structures is influenced by the introduction of digital technologies that make it possible to optimize business processes, reducing operating costs and enhancing the competitive advantages of business entities.Conclusions. In modern conditions, innovative transformation of companies is based on corporate information and communication systems that make it possible to optimize management decisions aimed at implementing a sustainable development strategy, upgrading, monitoring, planning, forecasting technological processes of regional economic entities. Innovative transformation of business structures largely depends on approaches to evaluating the effectiveness of developed and implemented management decisions and mathematical modeling scenarios with allowance for changes in the external environment and geopolitical risks. The digital economy has created the prerequisites for administrative and managerial transformation of companies through innovative processes.