Economic Significance of Increasing The Efficiency of Innovation in Construction Enterprises
DOI:
https://doi.org/10.31150/ajebm.v8i8.3892Keywords:
Innovative Management, Innovative Process, Cumulative, Technological Shift, Market Attraction, Integral, Parallel Organizational, Matrix, Project Systematization, Innovative Project, Complexity, Systematic, Principle of Situational ApproachAbstract
In the modern economic landscape, innovation plays a pivotal role in fostering growth and sustainability across industries, especially within the construction sector. The transition towards knowledge-intensive production and globalization has redefined innovation as a critical determinant of competitiveness and technological advancement. Despite numerous definitions and models, there remains no unified methodological framework for understanding and measuring innovation efficiency in construction enterprises. This study aims to analyze the economic significance of increasing innovation efficiency in construction enterprises and to identify effective strategies for enhancing innovation management. The findings reveal that innovation efficiency is directly linked to improved production quality, cost savings, better resource utilization, and enhanced competitiveness. Strategic integration of innovation through functional tools, alignment with market demand, and government support is critical for fostering sustainable development. This research presents a synthesized conceptual understanding of innovation through a multidisciplinary lens, offering a comprehensive definition tailored to the construction sector. It integrates insights from major economic thinkers while contextualizing innovation models in real-world enterprise dynamics. Strengthening innovation efficiency in construction not only boosts enterprise-level performance but also contributes to national economic development by attracting investment and driving technological progress. Emphasizing innovation as a strategic necessity encourages proactive policy-making and enterprise transformation towards long-term sustainability.
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