General laws of development and progress of individual and social representation predetermine the necessity to innovate. It is impossible for any enterprise to withdraw from the economic crisis without investing into innovation aimed at renewal of production on the new, competitive basis.

The object of the master thesis is the organization and improvement of innovation management at the enterprise in crisis. The subject of the study is basic principles, characteristics and methods of formation and implementation of innovation management at the enterprise.

The purpose of the thesis is to study theoretical and practical issues of innovation management at the enterprise during crisis.

To achieve this purpose the following tasks were set and solved:

• to study various definitions of ‘innovation’ and ‘crisis’ and explain the necessity to innovate under crisis;
• to determine parameters and stages of the crisis and its impact on Ukrainian enterprises;
• to design an integrated model of innovation management and its application in the context of the enterprise in crisis;
• to consider types of innovation management and fields of its application;
• to identify problems which may impede innovations;
• to formulate the concept of innovation project management of a definite business in crisis;
• to develop management strategy for the company to get out of the crisis through innovation.

The specific nature of innovative products requires proper organization of innovation management for their effective implementation. The innovation management means managing commercialization of new scientific knowledge, products, services, technological and organizational ideas. Innovation is the first application of anything new; the first evidence that the end user has recognized the new product and is ready to pay for it. Supply of materials for innovations at the enterprise is ensured through the formation of innovation fund, scientific, research and technical work.

Theoretical problem of the interdependence of the market economy development and innovation was studied by such scientists as A.I. Anchishkin, L.L. Antonyuk, C. Borras, I.M. Budnikevich, S.V. Valdaitsev, S.Yu. Glaziev, G.A. Krayukhin, B. Lundwall, B. Santo, B. Twiss, N.A. Frolova, I.M. Shkola, J. Schumpeter, M. Huchek. A significant contribution to the development of the theory of innovations, their impact on the economic situation was made by I. Ansoff, V.P. Barancheev, D.I. Barkan, O.A. Vinogradov, N.P. Goncharova, S.D. Ilyenkov, S.M. Illyashenko, Yu.V. Karakaj, V.Ya. Kardash, N.V. Kudenko, K.S. Kurochkin, J. Lambe, N.N. Molchanov, A.F. Pavlenko, E.G. Panchenko, A.I. Panzhar, P.G. Pererva, E.V. Redzyuk, E.O. Utkin, et al.

The information base for research comprises analytical and information materials from national and foreign periodicals and the Internet. Works of foreign and Ukrainian economists on business management, strategic management and planning, innovation management, introduction of innovative processes are used in the thesis.

Methods of scientific generalization, comparison, system analysis were used in the research to clarify the definition of innovation, innovation management, and consider methodological principles of developing innovative strategies and innovative projects for companies in crisis, and methods of abstraction, induction and deduction, analysis and synthesis to develop proposals for the application of management procedures in assessing the enterprise innovation potential to get it out of crisis, and also methods of the vertical, horizontal, graphic, spreadsheet analysis to design the system of innovative project management.

In the first chapter of the paper a review of scientific works of national and foreign scholars on the economic essence of innovation management is given; the concepts of «innovation», « innovation management» are clarified; the nature and content of innovation as the object of management are defined. Concepts of financial crisis, crisis management and crisis chaos as an incentive to innovation are considered. The study found out that effective management is essential for the effective implementation of innovation cycle and innovation process as a whole. Innovation management in the company is considered as a set of methods and principles to re-launch business and make it competitive during global financial crisis.

In the second chapter crisis management, introduction of innovations in different businesses be it personnel management, production sector or organizational structure are considered.

The research grounded that innovation management structure is indivisible; it comprises planning, organizing, motivating, monitoring, each having their objectives and tasks when innovating at the enterprise. Characteristic features of innovative product with regard of the time of its application are considered in context of innovation management. Problems the enterprise managers can face when innovating in financial crisis are also analyzed.

In the third chapter scientific and practical suggestions and recommendations for innovation application and its impact on business during crisis are provided. Recommendations on improving organizational forms of innovation management at the enterprise are also made.

Companies face the challenge of assessing risks because of the specific feature of innovation processes and the complexity of their forecast in current situation. Therefore the paper analyses risks and their implications for innovation during crisis.