Optimization of costs for innovations of industrial enterprises Western Ukraine in ensuring sustainable environmental development

¹ Lviv Polytechnic National University, Lviv, 79012, Ukraine

^* Corresponding author: Vasyl.V.Hyk@lpnu.ua

Abstract

The structural transformations taking place in the world economy are due to the transition from the «industrial economy» to the «knowledge economy», which is characterized by the dominance of intellectual capital and innovation. It is determined that an important condition for sustainable economic development of the country and increasing competitiveness is the effective implementation of innovation. The purpose of the study is to determine the optimal cost structure for innovation and its impact on sales revenue. Within this framework, attention is focused on the use of elements of economic and mathematical modeling. The scientific novelty is to develop a model that will substantiate the relationship between the studied indicators of innovation costs, will allow to predict the amount of income from sales and ensure the achievement of its optimal value. It is established that the proposed multiple linear regression quite clearly describes the initial data and can be used for prediction. The practical significance of the obtained results lies in the applied orientation of the approaches, the use of which improves the management of innovation costs and increases the level of reliability of economic information of industrial enterprises of Ukraine and as a result will improve the environmental situation. The study will assess the impact of economic entities on the environment and preserve the natural resource potential in order to achieve sustainable economic development.