Assessment of the innovative potential of the timber enterprises in the Russian Ural region

Abstract

Abstract The development and implementation of innovations are becoming integral functions of a modern industrial enterprise. The author has developed an author’s approach to assessing the innovation potential of forest enterprises through the analysis of financial sustainability and the ability to cover their own liabilities to achieve competitive advantages. The methodological research toolkit uses the competitiveness rating of economic entities of the timber industry complex of the Ural region, formed according to several economic indicators of the market segment occupied by the enterprise, the quality of its products, innovation activity and its efficiency, the degree of financial support, innovative research projects and the availability and effectiveness of facilities, as the resulting indicator. The economic profit indicator used to assess the effectiveness of enterprises is positive if the enterprise has managed to earn more than the profitability of similar enterprises, i.e. the enterprise implements innovative projects, which in turn bring additional competitive advantages. The developed approach makes it possible to identify and evaluate the most significant elements of the innovative potential of the enterprise on the basis of the rating assessment, thus allowing to take into account the specific features of the enterprise and its operating conditions.