IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v7y2019i2p1296-1307.html
   My bibliography  Save this article

Strategic management of innovation development: insights into a role of economic policy

Author

Listed:
  • Mikhail Yakovlevich Veselovsky

    (University of Technology, Russian Federation)

  • Marina Alexeevna Izmailova

    (Financial University under the Government of the Russian Federation, Russian Federation)

  • Elena Nikolaevna Lobacheva

    (Bauman Moscow State Technical University, Russian Federation)

  • Pavel Pavlovich Pilipenko

    (University of Technology, Russian Federation)

  • Galina Alekseevna Rybina

    (Bauman Moscow State Technical University, Russian Federation)

Abstract

This article justifies the necessity and inevitability of the innovative development of the Russian economy in the transition to a new technological paradigm. The authors substantiate the determining influence of the innovation potential in Russia's GDP growth against the background of the insolvency of other factors – labor, capital – in giving a powerful impetus to economic growth and development. The paper presents the results of comparative analysis of labor productivity in Russia and in the most economically developed countries. The authors conclude that Russia has the greatest growth potential in the field of scientific research and development. Prognostic values of GDP growth are analyzed in three scenarios – basic, optimistic, and ambitious. The study reveals the key success factors and possible barriers to the creation and development of innovations, providing convincing evidence of their influence on the companies' efficiency. Moreover, the paper provides an expanded understanding of the modern innovation tools and stresses the critical importance of their correct choice in solving strategic tasks of the company's innovative development. The authors analyze the role of strategic target-setting in the scale and speed of innovative development of Russian industry. They stress the urgency of Russia's transition to a new technological paradigm, requiring innovative and technological renewal of the entire economic landscape, making the economy truly innovative.

Suggested Citation

  • Mikhail Yakovlevich Veselovsky & Marina Alexeevna Izmailova & Elena Nikolaevna Lobacheva & Pavel Pavlovich Pilipenko & Galina Alekseevna Rybina, 2019. "Strategic management of innovation development: insights into a role of economic policy," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(2), pages 1296-1307, December.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:2:p:1296-1307
    DOI: 10.9770/jesi.2019.7.2(34)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/26/Veselovsky_Strategic_management_of_innovation_development_insights_into_a_role_of_economic_policy.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/437
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2019.7.2(34)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Robert M. Solow, 2005. "Flexibility and Endogenous Innovation," Springer Books, in: Albert N. Link & F. M. Scherer (ed.), Essays in Honor of Edwin Mansfield, pages 9-13, Springer.
    2. repec:srs:journl:jemt:v:8:y:2017:i:3:p:507-515 is not listed on IDEAS
    3. Yuriy MOROZYUK & Antonina SHARKOVA & Irina MERKULINA & Oksana VASILYEVA, 2017. "Innovative Aspects of Development of the Waste Recycling Industry in the New Economic Context Problems and Prospects," Journal of Advanced Research in Management, ASERS Publishing, vol. 8(3), pages 507-515.
    4. C. K. Prahalad & Gary Hamel, 1994. "Strategy as a field of study: Why search for a new paradigm?," Strategic Management Journal, Wiley Blackwell, vol. 15(S2), pages 5-16, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Agata Austen, 2018. "In Search of Network Sustainability: A Multi-Level Perspective on the Paradox of Cooperation and Competition in Networks," Sustainability, MDPI, vol. 10(7), pages 1-21, July.
    2. Cannavale, Chiara & Esempio, Anna & Ferretti, Marco, 2021. "Up- and down- alliances: A systematic literature review," International Business Review, Elsevier, vol. 30(5).
    3. Rajdeep Grewal & Murali Chandrashekaran & F. Robert Dwyer, 2008. "Navigating Local Environments with Global Strategies: A Contingency Model of Multinational Subsidiary Performance," Marketing Science, INFORMS, vol. 27(5), pages 886-902, 09-10.
    4. A. George Assaf & Alexander Josiassen & Haemoon Oh, 2016. "Internationalization and hotel performance," Tourism Economics, , vol. 22(3), pages 572-592, June.
    5. M Ashraf Al Haq & Norazlina Abd Wahab & Md. Mahmudul Alam, 2021. "Understanding The Impact Of Institutional Factors On Asnaf Sustainability: A Pls-Sem Approach," Journal of Islamic Monetary Economics and Finance, Bank Indonesia, vol. 7(4), pages 759-790, November.
    6. Marion Soulerot, 2011. "Le renouveau de la planification par les programmes d'amélioration de la performance," Post-Print hal-00650583, HAL.
    7. Shapiro, Jeremy F., 1999. "On the connections among activity-based costing, mathematical programming models for analyzing strategic decisions, and the resource-based view of the firm," European Journal of Operational Research, Elsevier, vol. 118(2), pages 295-314, October.
    8. Dag Øivind Madsen & Kåre Slåtten, 2019. "Examining the Emergence and Evolution of Blue Ocean Strategy through the Lens of Management Fashion Theory," Social Sciences, MDPI, vol. 8(1), pages 1-23, January.
    9. Mohamed Tahrouch & Tayeb OUAZZANI CHAHDI, 2023. "Management Control and Performance in the SME Context: A Literature Review [Contrôle de gestion et performance dans le contexte PME : revue de littérature]," Post-Print hal-04162636, HAL.
    10. Shveta Kapoor & H.S. Sandhu, 2010. "Does it Pay to be Socially Responsible? An Empirical Examination of Impact of Corporate Social Responsibility on Financial Performance," Global Business Review, International Management Institute, vol. 11(2), pages 185-208, June.
    11. Brock, David M. & Barry, David, 2003. "What if planning were really strategic? Exploring the strategy-planning relationship in multinationals," International Business Review, Elsevier, vol. 12(5), pages 543-561, October.
    12. Hameed, Kamran & Arshed, Noman & Yazdani, Naveed & Munir, Mubbasher, 2021. "Motivating business towards innovation: A panel data study using dynamic capability framework," Technology in Society, Elsevier, vol. 65(C).
    13. Wiweko Probojakti & Hamidah Nayati Utami & Arik Prasetya & Muhammad Faisal Riza, 2024. "Building Sustainable Competitive Advantage in Banking through Organizational Agility," Sustainability, MDPI, vol. 16(19), pages 1-15, September.
    14. Rémi Raher, 2022. "Le business-model entre théorie et pratique : quelle pertinence pour la start-up numérique ?," Post-Print hal-04177249, HAL.
    15. repec:osf:osfxxx:vxh86_v1 is not listed on IDEAS
    16. Mauro Romano & Christian Favino & Luca Pennacchio & Francesco Grimaldi, 2020. "CEO social capital in family businesses and its effect on investment opportunities: Asset or liability?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2004-2015, September.
    17. Jose Lopez-De-Pedro & Eva Rimbau-Gilabert, 2012. "Stakeholder Approach: What Effects Should We Take into Account in Contemporary Societies?," Journal of Business Ethics, Springer, vol. 107(2), pages 147-158, May.
    18. Paula Andrea López López, 2013. "Una aproximación al campo de estudio del pensamiento estratégico desde las publicaciones académicas: de lo predecible a lo emergente," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, June.
    19. Amel Attour & Loubna Echajari & Nicolas Remond, 2023. "Organizational innovation as an enabler for the emergence of a non-precompetitive knowledge ecosystem," Post-Print hal-04126171, HAL.
    20. Shapiro, Jeremy F., 1939-, 1998. "On the connections among activity-based costing, mathematical programming models for analyzing strategic decisions, and the resource based view of the firm," Working papers WP 4018-98., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    21. Fatma, Mobin & Rahman, Zillur, 2016. "The CSR's influence on customer responses in Indian banking sector," Journal of Retailing and Consumer Services, Elsevier, vol. 29(C), pages 49-57.

    More about this item

    Keywords

    innovations; innovative development; industry; business; modernization of the economy; GDP; development scenarios; industrial policy; technological paradigm; Russia;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O38 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:7:y:2019:i:2:p:1296-1307. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.