Managing the innovation potential of small high-tech enterprises

In order to maintain competitiveness amid hyper-competition and digitalization, enterprises engaged in high-tech industries are actively introducing innovative products using methods for enhancing their innovation potential. The paper aims to develop a tool for managing innovation potential of small industrial enterprises. Methodologically, the study rests on the evolutionary approach and innovation management theory. Research methods embrace a matrix method, a mechanism for calculating the beta coefficient, and statistical analysis of panel data from a sample of 345 pharmaceutical enterprises. The article proposes a new method for managing innovation potential of small industrial enterprises that accounts for both the scale of their activity and the special features of high-tech industries. It also includes a method of quantitative assessment and a matrix for strategic decisions in innovation potential development of small producers. The designed method was tested using empirical data from 32 high-tech enterprises. The results prove the importance of the accumulated experience in innovation implementation for assessing small enterprise' innovation potential and demonstrate its impact on management decision-making. The study contributes to the innovation potential management from the standpoint of an evolutionary approach, and its findings can be used to substantiate the choice of a strategy for developing innovation potential of small high-tech enterprises.