Preview

New Technologies

Advanced search

THE ROLE OF INNOVATION IN BUSINESS DEVELOPMENT

https://doi.org/10.24411/2072-0920-2020-10210

Abstract

A changing world and global trends are both challenges that need to be answered and chances that can be taken by creating and introducing innovations. The results of the survey among the leaders of large companies have shown that more than 80 % of them believe that innovation is the most important factor for success, but less than 10 % are satisfied with the level of innovation development in their company or even deal with this issue [1]. This underlines the relevance of the topic of innovation.
The purpose of the article is to assess success factors in the development of innovations, identify obstacles to the realization of the potential of innovations, and suggest tools for developing innovations in terms of speed and scale of transformations by evaluating the effectiveness of companies in innovation. At the same time, modern methods of scientific knowledge are used: analysis, synthesis, induction, abstraction.
The article identifies success factors in the development of innovations: innovative strategy and ambitious goal-setting; the broadest search for opportunities; the availability of an appropriate organizational structure and resources – finances, personnel and skills; optimization of the system and management processes; corporate culture and motivation.
The redistribution of the budget for research and development costs and the effectiveness of companies in the field of innovation have been considered. In addition, the distribution of portfolio resources by type of innovative activity, the results of which substantiate the choice of innovation tools have been studied.
The study of a set of tools, the applicability of which depends on the speed and specifics of the changes has made it possible to identify typical obstacles to the realization of the innovation potential.


About the Authors

M. N. Mikhaylyuk
Sochi Institute (a branch) of the Federal State Autonomous Educational Institution of Higher Education «Peoples' Friendship University of Russia»
Russian Federation

Candidate of Economics, head of the Department of Finance and Credit



M. K. Ashinova
FSBEI of HE «Maykop State Technological University»
Russian Federation

a professor, Doctor of Economics, a professor of the Department of Finance and Credit

Tel.: 8 (8772) 52 11 55



M. A. Omid Karizada
FSBEI of HE «Maykop State Technological University»
Russian Federation
a post graduate student

Tel.: 8 (8772) 57 06 06



References

1. State of Innovation. CB Insights University, 2018 [Electronic resource]. URL: https://www.cbinsights.com/research-state-of-innovation-report.

2. Ashinova M.K., Chinazirova S.K., Kostenko R.V. Digital transformation of the financial services industry // Mathematical foundations of the development and use of machine intelligence: a collection of scientific articles dedicated to the 70th birthday of Doctor of Technical Sciences, Professor Lyabakh Nikolai Nikolaevich. Maykop: MSTU, 2018. P. 4-14.

3. Ashinova M.K., Chinazirova S.K. Prediction as the basis for managing the development of the region // State and Ways of Development of the Modern Economy: Materialsof the VII International Scientific and Practical Conference / Ministry of Education and Science of the RF; Armavir state ped. un-ty. Armavir, 2016. P. 36-41.

4. Kadakoeva G.V. Model of the digital economy of the Russian Federation: program content and practical aspect // Digital economy: a new reality: a collection of articles based on the results of the International scientific and practical video conference dedicated to the 25th anniversary of the university. Maykop, 2018. P. 234-236.

5. Kostenko R.V., Shilovich O.B. Investment strategy for the development of industrial enterprises: a monograph. Krasnodar: Kuban State Technical University, 2019. 163 p.

6. Trends in the world of venture capital investments in the CB Insights report [Electronic resource]. URL: https://vc.ru/finance/62396-trendy-mira-venchurnyh-investiciy-v-otchete-cbinsights

7. Indicators of the digital economy: 2017: statistical compilation / G.I. Abdrakhmanova [et al.]. M.: HSE, 2017. 320 p.

8. Mokrushin A.A., Khatkov M.A. The formation of business groups and their impact on the economy of the country // Problems and prospects of socio-economic development of the regions of the South of Russia: a collection of scientific papers on the materials of the III All-Russian scientificpractical conference / ed. by A.A. Tamov. Maykop, 2017. P. 115-118.


Review

For citations:


Mikhaylyuk M.N., Ashinova M.K., Omid Karizada M.A. THE ROLE OF INNOVATION IN BUSINESS DEVELOPMENT. New Technologies. 2020;(2):97-105. (In Russ.) https://doi.org/10.24411/2072-0920-2020-10210

Views: 695


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 License.


ISSN 2072-0920 (Print)
ISSN 2713-0029 (Online)