ORGANIZATIONAL AND ECONOMIC MECHANISM OF INNOVATION STRATEGY IMPLEMENTATION IN INDUSTRIAL ENTERPRISES: FROM STRATEGY STAGES TO THE COST-TO-RESULT CONVERSION CHAIN

Abstract. The paper examines the organizational and economic mechanism through which an innovation strategy of an industrial enterprise is turned into economic results. It is shown that the stage-based models of strategy formation widely used in the literature describe what should be done, but do not specify at which point innovation expenditure fails to become a result. Using 2021-2025 official statistics of Samarkand region of Uzbekistan, the paper demonstrates that the growth of research capacity and of the number of implemented innovations has not been accompanied by a comparable increase in innovation expenditure and market results. A mechanism built along the conversion chain “project selection – resource allocation – implementation – commercialization” with four control blocks and measurable transition criteria is proposed.