COVID-crisis: opportunities vs challenges for innovative transformations and self-development

¹ Kyiv National University of Trade & Economics, Department of Management, 19 Kyoto str., 02156 Kyiv, Ukraine
² Kyiv National University of Trade & Economics, Department of Design and Engineering, 19 Kyoto str., 02156 Kyiv, Ukraine

^* Corresponding author: galx230167@gmail.com

Abstract

Topical issues related to the identification of factors influencing innovative transformations during the COVID-crisis have been highlighted. The aim of the study is to identify opportunities and challenges for innovative transformations and self-development in the context of the COVID-crisis. The methods of systems analysis, surveys and synthesis were used. Research data confirmed that the pandemic has not fundamentally changed the fact that the potential of breakthrough innovations continues to exist. It is not expedient for enterprises to abandon R&D and innovations, despite the current challenges. Innovative transformations require not only financial support, but also human resources and innovative ideas. According to our survey of students in 2020, it was identified that today they can be divided into those who are: 1) able to develop and try to solve problems regardless of the situation; 2) able to take advantage of opportunities but may be unable to resist threats and solve problems; 3) unable to make constructive decisions and think creatively in the COVID-crisis. To ensure progressive innovation development, the number of the first group should be the largest, and the third – the smallest. It is concluded that currently, the situation for innovative transformations is ambiguous. The paradox of imaginary and real positioning is revealed. This showed discrepancies between how potential business managers assess opportunities and respond to challenges in the COVID-crisis.