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On innovation activities development

Journal: Economics & Education (Vol.4, No. 2)

Publication Date:

Authors : ;

Page : 19-29

Keywords : innovation; innovation activities development; institutional economy; innovation life cycle; national innovation system; innovation ecosystem; trust; narrative; theoretical model; stratification of environmental components;

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Basing on decomposition of the terms of "innovation", "innovation activities", "economic development", "economic growth", "development", "growth": the differences between the terms of "innovation activities development" and "innovation development" are discussed; there is stressed on the probable occurrence of the complementary couples such as "business process / product" in the process of a firm's transition to innovation activities. The "Matrix of "development / growth" of the firm in market economy" is proposed for consideration. Basing on the principles of the institutional economy, here we considered the innovation activities development, its external and internal factors. It is noted that the institutional environment (as a part of the innovation activities environment) and the consumer are the key external factors for its development at the microeconomic and macroeconomic levels. The innovation activities peculiarities are described: at the microeconomic level as the implementation of the "innovation life cycle" stages, and at the macroeconomic level as the implementation of the "national innovation system" development process. Given that activities in both cases is subject to certain conditional rules: the notions "innovation life cycle" and "national innovation system" is proposed to be considered as established concepts, attribute them and the new concept "national innovation system as an environment for supporting the innovation life cycle" to socio-cultural institutional environment of the innovation activities development. An imaginary three-dimensional "space of action" for a firm with the following directions was introduced: "courage", "trust", "profit", using which the appropriate model of behavior for an innovation-active firm and appropriate roles is proposed; the expected ranges of activities for a firm is defined for each direction. The importance of network structures in innovation activities as an environment with a high degree of trust among its participants is discussed. In the frameworks of "space of action" we consider the innovation ecosystem as a network formation, and propose the "innovation ecosystem" concept as another socio-cultural institution, which is a part of the institutional environment of the innovation activities development. The narrative was chosen as a recipe of building trust among the participants in innovation activities. The main components of the innovation activities environment are stratified into three imaginary screens (such as "reality", "images", "rules"), which are located in parallel to the planes formed in the frameworks of the firm's activities in the imaginary "space of action" (such as "physical", "mental", and "economic", respectively). The prospects for application of the proposed theoretical model an innovation-active firm's behavior in the imaginary "space of action" are outlined.

Last modified: 2021-03-29 16:49:20