INNOVATIVE STRATEGIES AND MODELS FOR ENSURING THE EQUILIBRIUM DEVELOPMENT OF ECONOMIC SYSTEMS

Abstract

The article characterizes the impact of innovative solutions on the efficiency of business entities in the context of implementing the goals of sustainable development. The article presents the main innovative strategies, the implementation of which will ensure sustainable equilibrium progress of economic systems, in particular, investing in human capital and prioritizing education, widespread implementation of circular economy organization approaches, providing opportunities for expanded access of citizens to financial resources and services even in remote areas and communities, which will ensure increased balance and optimization of strategic management decision-making. The article presents innovative models that can be adapted to specific socio-economic and other conditions, the application of which provides opportunities for sustainable growth of competitiveness of business entities at different levels of the economic and business hierarchy. The article considers the model of sectoral diversification, which determines the allocation and promotion of priority development of certain sectors of the economy, spatial innovation planning as a factor in ensuring balanced development of regions through improving the distribution of infrastructure and investment, and the model of inclusive growth and social progress, which is focused on reducing social inequality and optimizing the distribution of available resources. It is emphasized that the development of the cluster approach makes it possible to realize significant savings in all types of resources used due to the specialization ofeconomic processes and the use of economies of scale, the strategic development of critical infrastructure significantly increases the overall resilience of economic systems in emergency conditions, and the model of prioritizing environmental  approaches can be especially effective in the context of the need to minimize the impact of negative climate change and the need to accelerate the achievement of environmental sustainability. The author considers the directions of improvement of innovative strategies and models of equilibrium development of socio-economic systems.