INTERNATIONAL EXPERIENCE OF INVESTMENT AND INNOVATION RELATIONS IN THE FORMATION OF MARKETS FOR ENGINEERING SERVICES

Keywords: engineering services, project consulting, investment, innovation, economic development, international experience

Abstract

The dynamism of the diffusion of innovations and intellectualization, the international globalization of markets and security challenges trigger the search for instruments to manage change and adaptation to innovation. The engineering services market proposes competencies and competitive advantages for transforming economic systems that have to maintain economic sustainability and competitiveness. The research is aimed at clarifying the impact of innovation and investment theory and international experience on the processes of providing engineering services. The results obtained in the article are based on the use of general scientific methods of systematization and critical analysis of the genesis of the theory of innovative development; methods of structuring the market of engineering services on the basis of their orientation and consistency are applied. The obtained results allowed to clarify the scientific basis of modern trends in the markets of engineering services, which is revealed in the periodization of the development of innovation theory and reflects the role of key innovations in the management of economic systems. This allows us to assert that modern engineering services are aimed at adapting and transforming economic systems under the influence of professional competencies of personnel, intellectualization of technical and communication systems, as well as aimed at introducing knowledge, information, service innovations. The development of the engineering services market is provoked by the formalization of international standards and the increasing role of knowledge and information in production processes: the more complex the production technology, the more valuable the products and knowledge about their production. Therefore, the demand for engineering services provokes the need for investment support and justification of the effectiveness of attracting resources to the creation or transformation of projects. The practical significance of the results obtained concerns the structuring of the engineering services market by their stages of implementation and impact on individual production processes. This allows to plan in time and space the expenditure of resources, changes in business processes, to divide engineering services by competence and efficiency.

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Published
2022-09-26
How to Cite
Vovk, O., & Vovk, P. (2022). INTERNATIONAL EXPERIENCE OF INVESTMENT AND INNOVATION RELATIONS IN THE FORMATION OF MARKETS FOR ENGINEERING SERVICES. Digital Есопоmу and Economic Security, (2 (02), 87-91. https://doi.org/10.32782/dees.2-15