A Complex Approach to Evaluating the Innovation Strategy of a Company to Determine its Investment Attractiveness

Currently, innovations and the management's attitude towards innovations to a great extent determine the positions of big and small companies, and in particular – of start-ups. With the purpose of effective introduction of new technologies, inventions and know-how in the economic operations of such companies, a complex approach is necessary to innovative management. Given such an approach, at first, the components of the innovation strategy of a company are formed, followed by a complex assessment thereof and further use in making management decisions. Quantitative assessment of the components of the innovation strategy of the company – innovation climate and innovation position, as well as the innovative activity and innovative power – is necessary. It is proposed to use innovative power parameter as a complex assessment of the innovation strategy of a company; this parameter links all the enumerated innovative components together. In conclusion, an example is given and opportunities of applying the developed approach to evaluating the investment attractiveness of the company are considered. The subject company used in the example is a start-up industrial company in the energy field, planning to produce renewable electrical power sources – wind generators, which are manufactured using innovative technologies, protected with patents and know-how. Using the proposed complex approach, a quantitative assessment of the components of the innovation strategy of this company is performed and a conclusion is made as to the company's investment attractiveness.