Innovative activities of business entities: legal basis, sustainable development, prospects

The article is devoted to the issues of innovative activity of economic entities and the problematic aspects of its implementation in the conditions of military conflict in Ukraine. The components of the legal basis for the implementation of innovative activities by economic entities are revealed, taking into account current legislative initiatives and sustainable development. The expediency of rethinking the role and content of innovative activities of economic entities in extraordinary operating conditions is substantiated. It is determined that the innovative activity of modern business entities is significantly influenced by an aggressive external environment, which, in turn, creates numerous problematic aspects that slow down the stages of their adaptation. At the same time, the extraordinary conditions of the country’s development have not only affected the intensity of innovative activity of economic entities, but also highlighted several problems, both in its content and in its financial support. The author’s proposal is provided for understanding the content of the definition of “innovative activity of economic entities” as ensuring the adaptation of sustainable development measures of economic entities, which include a package of innovative tools capable of improving the effectiveness organizational and management cycles in the production process, based on investment in scientific research and development aimed at implementing qualitative changes and introducing new types of products and technologies, taking into account measures to level existing risks and threats in the extraordinary conditions of future development. It is proposed to improve the quality of the process of innovative development of economic entities by adapting the principle of compliance and interconnection of innovative development of economic entities with the target purpose of sustainable development, as well as the principle of assessment and monitoring economic risk, which ensures realism and increases the effectiveness of the adaptation of planned measures in the future. Keywords: innovative activity, economic entities, innovative segment, legislator, innovative idea, legal initiatives, military conflict, sustainable development, own financial resources, legislative regulator, regulatory acts, result of innovations.