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Networking perspective of coordinating innovative actions

Journal: The Journal of International Economic Policy (Vol.2, No. 13)

Publication Date:

Authors : ;

Page : 133-155

Keywords : innovation; innovativeness; innovative actions; innovative activity; coordination; regulation; new institutional economics; transaction costs; market; firm; networks; networking; cluster network logic; network economy;

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Seeking the most favorable conditions for innovative activity, the article depicts the results of research on innovativeness in the context of coordination. Applying networking to analyses and discussions on coordinating innovative actions correlates with development of clustering. Consequently, a cluster has been made a reference, an example of an economic network. The aim of this article is to show networks, as coordination structures, that open the perspectives of multiplying values, thanks to the functioning logic combining an individual benefit with the benefit for the whole of network participants. The theoretical basis for any considerations relies on the theory of transaction costs, developed within the framework of new institutional economics. In the conditions of knowledge based economy and developments of the ICT revolution, conducts with learned behaviors within the framework of the schemes generated by classical economics is not possible any more. Applying these schemes by entrepreneurs would mean depriving of multiplying the usability coming from the network. It has a significant dimension especially while referring to innovative activity.

Last modified: 2014-11-20 22:30:36