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Evaluation of innovations in enterprises: theoretical aspects

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  • Rossitsa Chobanova

Abstract

Innovations in enterprises and their evaluation are a real and significant problem regarding the transition to a new stage of economic development, as well as the related reformulation of enterprise development strategies and corresponding governmental policy. In this regard, the article aims to systematize the different positions on this problem. The positions of representatives from schools of economic thought at Brandeis, Harvard, Oxford and the University of Chicago and followers of Schumpeter, Porter, ordoliberals, etc. are distinguished. Different objectives of the renewal process are also established, respectively, in different evaluative contexts related to competition, enterprise size, welfare, general interest, new technological paradigms, etc., on the one hand, and various causes and consequences, on the other. The positions in the Bulgarian literature are grouped as those that reject the need for a change in the goal or those that define it as necessary and according to the goal’s content. In conclusion, it is summarized that modern discussions about innovations in enterprises and their evaluation are increasingly connected with current practical needs – the initiation of competition laws, solving contemporary challenges, the result of accelerating changes in the technologies used, etc. A recommendation is made to overcome the descriptive approach to problems of modernity in the Bulgarian economic literature and move to a problem-oriented one which aims at solving the current and emerging problems.

Suggested Citation

  • Rossitsa Chobanova, 2023. "Evaluation of innovations in enterprises: theoretical aspects," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 359-379.
    • Handle: RePEc:bas:econth:y:2023:i:4:p:359-379
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    References listed on IDEAS

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    1. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, April.
    2. Joan Robinson, 1934. "What is Perfect Competition?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 49(1), pages 104-120.
    3. World Bank, 2012. "Going for Smart Growth : Making Research and Innovation Work for Bulgaria," World Bank Publications - Reports 12896, The World Bank Group.
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    More about this item

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

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