Economics and Business Management

Monitoring and assessment of the competitiveness of products, goods, and services in the context of innovative entrepreneurship development

D. Shelenko, O. Shpykuliak, I. Balaniuk, H. Mazur, Ya. Boichuk
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Abstract

Innovative entrepreneurship is key to economic stability and competitiveness, requiring improved decision-making tools through enhanced monitoring and evaluation of product competitiveness. The purpose of this study was to theoretically and methodologically substantiate and characterise institutional capabilities for monitoring the competitiveness of products, goods, and services in the development of innovative entrepreneurship structures. The research proposed conceptual foundations for a system of competitiveness monitoring, analytical tools for evaluating and forecasting enterprise positions, and an assessment framework that considered both internal and external influencing factors. Special emphasis was placed on understanding how these factors affected market positioning and the functional development of innovative structures. The study improved methodological foundations for competitiveness monitoring, particularly in light of institutional transformations in the market exchange environment. A key contribution was the introduction of a comprehensive approach that incorporated production costs, human resources, innovation potential, financial stability, market supply, and managerial efficiency. This approach went beyond static measurements to capture structural dynamics over time, revealing interrelations between various competitiveness factors across different periods and contexts. Combining quantitative and qualitative assessment tools enabled a more holistic analysis of how internal and external influences impacted the performance of innovation-oriented enterprises and overall entrepreneurial effectiveness. Key assessment dimensions included production efficiency, human capital, innovation input, financial soundness, product and service quality, and their synergetic effects. These insights were essential for enhancing strategic and managerial decision-making in a rapidly evolving market environment. The practical significance of the study was positioned in proposing an improved mechanism for monitoring and evaluating the competitiveness of products, goods, and services in the context of the development of innovative entrepreneurship

Keywords

economic growth; evaluation of goods and services; sustainable development; entrepreneur

Suggested citation
Shelenko, D., Shpykuliak, O., Balaniuk, I., Mazur, H., & Boichuk, Ya. (2025). Monitoring and assessment of the competitiveness of products, goods, and services in the context of innovative entrepreneurship development. Economics and Business Management, 16(3), 9-26. https://doi.org/10.31548/economics/3.2025.09
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