Modeling the impact of technological innovations on the growth in production efficiency


  • Е. I. Yudina Dnipropetrovsk University of the Humanities, Dnipro
Keywords: economic-mathematical modeling of innovation, technology, performance efficiency

Abstract

An essential tool for improving efficiency of industrial production is the activation of innovation activities, which is based on the application of achievements in scientific and technical progress (STP) and contributes to both the economic development of enterprises and economic complex of the country as a whole. This is what predetermines the need for development of scientifically substantiated approaches to the management of innovative activity aimed at improving the efficiency of resource use and results of activity of industrial enterprises, as well as identifying the areas of its organization. An increase in efficiency of enterprise activity is related to its capacity to adapt to the peculiarities of modern competition and fast changing market environment, to respond in a timely manner to these changes, to define strategic directions of activity, such as the application of new technologies and creation of effective mechanisms for the implementation of innovations.

The aim of present work is modeling the impact of technological innovations on the improvement of production efficiency by way of mathematical description of the patterns of interaction between innovation and production activities of industrial enterprise and determining quantitative effect from the implementation of new technologies on the decrease in production resource intensity and improvement in the operational results of the industrial sector of economy.

We examined influence of technological innovations on the indicators of resource consumption in the production, based on economic-mathematical modeling of the interaction between production and innovation processes. Models for correlation dependence were devised of the resource-intensive production on the introduction of new technologies at an industrial enterprise in Dnipropetrovsk Oblast (Ukraine), using which we established and mathematically described a regularity of the impact of technological innovations on the magnitude of economic indicators of production activity at an industrial enterprise. Created economic-mathematical models allowed us to calculate a quantitative ratio of consumption-intensity of production and investments for progressive technological renewal of production, while the established interval limits – to predict possible changes in the indicators of production as a result of implementation of new technologies and to plan the results of enterprise activity depending on its investment and innovation activity. In the course of analysis, we calculated parameters that characterize quality of the developed models and indicate their adequacy and capability of application in practice.

The scientific novelty of present research is in establishing and mathematical explanation of regularities of interaction between examined indicators of innovation and production activities by means of the developed economic-mathematical models, as well as in calculating quantitative effect of new technologies on the increase in performance efficiency of industrial enterprises.

A practical value of the study is that mathematical formulas, developed by economic-mathematical modeling, allow us you to calculate the magnitude of indicators of resource intensity and production efficiency, which correspond to a certain volume of investments in new technologies. Created models of correlation dependence make it possible to determine the change in the magnitude of indicators of industrial activity as a result of effect from changes in the volume of investments in technological innovation and, consequently, to predict and plan results and the degree of increasing production efficiency based on available investment resources. Their quantitative ratio allows to assess qualitative and quantitative effect of the implemented new technologies for the improvement in industrial enterprise efficiency.

A promising direction for further research is the creation of mechanism for managing investment-innovative activity and production efficiency based on technical and technological renewal of enterprises material–technical base.

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Published
2016-12-25
How to Cite
YudinaЕ. (2016). Modeling the impact of technological innovations on the growth in production efficiency. European Journal of Management Issues, (7), 272-279. https://doi.org/10.15421/191630