INNOVATIVE STRATEGIES OF ENTERPRISE MANAGEMENT AS A KEY FACTOR OF SUSTAINABLE DEVELOPMENT IN A CIRCULAR ECONOMY

Abstract

In the context of global economic challenges and resource shortages, it is important for businesses to adapt to the circular economy as an effective business model that involves the rational use of resources, minimization and implementation of innovative processing technologies. The application of innovative strategies within the circular economy is becoming a key factor in the transformation of modern business. They are aimed at rethinking traditional approaches to production and consumption, ensuring systemic changes in resource management and organization of production processes. Innovative approaches contribute to the formation of new business models based on efficiency, adaptability and environmental responsibility. Implementation of such strategies allows companies not only to increase their competitiveness but also to respond to current challenges of sustainable development. The purpose of the article is to study the main aspects of innovative enterprise management strategies as a key factor of sustainable development, and also to substantiate the theoretical foundations for developing an effective methodological toolkit for optimizing the strategic management of innovation activities in a circular economy. The article analyzes the main scientific approaches to the study of circular economy development trends and outlines the issues of strategic management of innovation activities in the context of transition to a circular model of economic activity. The theoretical study of the main aspects of innovative management strategies of enterprises in the context of transition to a circular model of management has allowed to formulate a methodological approach to improving the efficiency of strategic management of innovation activities. This approach consists in transforming challenges by taking advantage of the circular economy, in particular, turning challenges such as resource scarcity, growing economic demands, and rapid technological progress into opportunities. This is achieved through the introduction of resource-saving technologies, the development of closed production cycles, waste minimization and effective product life cycle management. In addition, the development of partnerships between enterprises contributes to the formation of an ecosystem of rational use of resources, reflecting global trends in sustainable development, where resource saving and environmental protection are becoming the foundation of the global economy and a key factor in the competitiveness of enterprises. Thus, innovative strategies that transform the challenges of modern business into opportunities for the circular economy are effective and promising, as they not only reduce the environmental burden but also outline new competitive advantages for businesses in a globalized economy.