The Economic Performance and Sustainable Practices: Developing New Management Model of Economic Potential at Industrial Enterprises

Industrial enterprises play one of the main roles in the global economy. In the past, the main factors for a successful company were favorable location, access to natural resources, favorable climate, and low-cost labor. However, at present the focus is on the development of scientific and technological opportunities, enhancing economic potential as well as creating a favorable economic environment for the company’s rapid progress. In the era of changing the management paradigm, traditional management methods can no longer ensure effective management of national industrial enterprises. The analysis of the necessary conditions to create a modern management paradigm corresponding to the conditions of the innovative economy showed the feasibility of influencing the change of individual characteristics of the management paradigm. This paper suggests relevant scientific and practical approaches for developing a new management model per the requirements of the innovative economy.