Innovation process: models, stages
Innovation can be considered both in static and in dynamics. If static innovation - the end result of the commercialization of innovations in the dynamics - it's a complex process of creation, development and dissemination of innovations.
The innovation process is a complex chain of interrelated stages from the emergence of a new idea to the implementation of the production of a product or service marketed. In general terms, the innovation process is a sequential chain of events in which innovation "ripens" from an idea to a particular product, technology or service, and is distributed in economic practice.
This process can be represented in the form of a scheme
FI ↔ PI ↔ P ↔ P ↔ S ↔ Os ↔ ΠP M ↔ Sa,
where FI is fundamental research; PI - applied research; R - development; Pr - designing; C - construction; Os - development; PP - industrial production; M - marketing; Sat - selling.
Innovative process means the innovative activity of an economic entity, i.e. a process aimed at developing, implementing the results of completed scientific research and development or other scientific and technological achievements in a new or improved product marketed in a new or improved technological process used in practice, as well as related additional scientific research and development.
The essence of the innovation process is manifested in the fact that it is a purposeful chain of actions to initiate innovation, to develop new products and operations, to market them and further diffuse.
The innovative process includes seven elements, the combination of which in a single consistent chain forms the structure of the innovation process (Figure 1.3).
The beginning of the innovation process is initiation. Initiation is an activity that consists in selecting the goal of innovation, setting the task performed by innovation, finding the idea of innovation, its feasibility study and materializing the idea.
Fig. 1.3. Innovation Process Scheme
Materialization of an idea means the transformation of an idea into a commodity, i.e. in property, a new product, in a document of property law (license for the right to use know-how, technology) and in a document on a technological operation.
Initiation is not only the starting point of the innovation process, but also the basis for the further normal course of the most innovative process.
After justifying a new product (operation), marketing research of the proposed innovation is conducted. In the course of marketing research, the demand for a new product or operation is studied, the quantity or volume of their output is determined, if they are limited, the consumer properties and commodity characteristics that should be given innovation as a product entering the market are determined. Then the innovation is sold, i.e. the appearance on the market of a small batch of innovation, its promotion, evaluation of efficiency and diffusion.
Promoting innovation is a set of measures aimed at the implementation of innovations (information transfer, advertising, trade process organization, etc.).
The results of the implementation of innovation and the costs of its promotion are subjected to statistical processing and analysis, on the basis of which the economic efficiency of innovation is calculated. The innovation process ends with the diffusion of innovation.
The diffusion of innovation is the spread of once mastered innovation in new regions, new markets and a new financial and economic situation. Diffusion can be associated with a change in the characteristics of financial innovation and the conditions for its promotion (changing the interest rate of the bank, the timing of the deposit, etc.), seizing new markets, etc.
Innovative activity can be carried out as one of the activities of existing enterprises, banks and other entities, as well as specialized legal entities - innovative enterprises, banks, funds, consortia, etc., created for the implementation of a specific innovation project or program, or having innovative activity as the main one.
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