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The development of the modern sphere of technologies ensures active implementation of various types of innovations in the activities of modern companies. If innovations are rationally planned, they can have a positive impact on the financial stability of business and the economy as a whole. At the same time, Ukrainian innovation activity has a huge unrealised potential, which can be realised under more favourable external conditions and high-quality planning of the specifics of innovation implementation. The purpose of the study is to summarise approaches to determining the relationship between innovation and financial stability of modern business. In order to achieve this goal, it is necessary to solve a number of urgent tasks, in particular: to determine the scale of innovation activity of modern business in the world and in Ukraine; to outline the key tasks that can be solved by innovative tools if they are implemented in business activities; to specify the directions of ensuring financial stability through the introduction of innovations. The research was based on an in-depth review of more than 50 scientific sources, including articles indexed in leading scientometric databases. The study found that the global innovation market is at the stage of active development, while Ukrainian enterprises are not currently realising their full innovation potential due to unfavourable environmental conditions. The study also identifies the tasks that can be solved by innovative tools, provided they are implemented in business activities. It is determined that the application of digital marketing tools and the use of social networks to promote products allow expanding the audience, which can have a positive impact on the development of the financial stability system. Working with data, planning, and processing data using the latest technologies can also have a positive impact on financial stability. A separate link is the optimisation of business processes (financial, production, procurement, etc.) using the latest information management tools (artificial intelligence, big data, cloud technologies), which can improve the information component of financial stability.
Rudevska et al. (Tue,) studied this question.