Abstract: Research background: Innovations are becoming an increasingly important factor increasing the competitiveness of enterprises. The effectiveness of innovative ac-tivities largely depends on the selection of an appropriate innovation strategy. Purpose the article: The aim of the article is to identify the key determinants of choosing an innovative strategy in an unstable environment and to present a scheme of its creation for a company operating in a dynamic market. Methods: The methods of critical analysis and synthesis, generalization and logi-cal methods as well as the desk research method were used in the research process. The method of critical analysis allowed to identify the gap in the identification of conditions and determinants of the choice of the company's innovation strategy. The generalization method allowed for the explanation of the procedure to be fol-lowed in the process of creating an innovation strategy in an unstable environment. Findings and value added: In the process of creating a company's innovative strategy, the directions and scope of innovative activity are determined by: the nature of impact on the market (offensive or defensive), the degree of involvement in the creation of an innovative product (own, joint or transferred innovation), financial opportunities and intellectual capital resources . The innovative activity of the enterprise must be oriented towards directions ensuring not only profit achieving, but also creating intellectual potential. In an unstable environment, the innovation strategy must provide for the diversification of innovative activities in order to reduce risk and find market niches.
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