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Periodization of the Innovative Process Life Cycle

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Author(s): V. I. Sotnikov | O. O. Sotnikova

Journal: Economics of Development
ISSN 1683-1942

Volume: 58;
Issue: 2;
Start page: 56;
Date: 2011;
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Keywords: innovation | innovative activity: innovation process | the stage of the innovation process | innovation life cycles | periodization of the life cycle of innovation | the introduction of technical innovations.

ABSTRACT
The essence and content of the ‘innovation’ and ‘innovative activity’ economic categories are examined in the article. The approach to the enterprise innovative process modeling is directed to interdependence between a particular innovation life cycle as a final product and its sources of finance.The economic mechanism of the industrial enterprise innovative activity regulation is possible only if innovative factors are included in the process of social and economic development of the country.The key factor which influences the level of enterprise technological development and defines its quality is duration of the innovative lifecycle.The aim of the article is to research the peculiarities of the innovative lifecycle and successfully implement its essential scientific, technical, economic, ecological and social effect.When the authors had specified the essence of innovative process and the innovative life cycle synthesis, mentioned in the article, they were able to extend the innovative life cycle content and define the limits of its stages. In the article it was offered to define the following innovative life cycle stages were offered in the article: the innovation origin (market needs and idea combination); the period of innovation implementation and development and its market adaptation; the period of its successful commercial use and decline.The authors’ further task is studying the enterprise innovative process, which is definitely oriented towards the final result of the scientific productive cycle. The aim of this process is gaining an economic effect.

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