Innovation Management: Processes, Principles & Organizational Impact

This essay provides an overview of innovation management, defining it as a multidisciplinary field encompassing engineering, economics, social psychology, and more. It highlights the importance of domestic scientific research in developing competitive advantages for industrial and service organizations. The essay discusses the functions and methods of innovation management, including motivation, state support for science, and the creation of competitive products. It emphasizes the role of human thought, capital accumulation, and productive labor in driving development. Furthermore, it delves into the innovation process management, focusing on reducing costs and improving efficiency through purposeful impact on research, design, and development. The principles for innovation accounting, such as accounting for uncertainty and the creative nature of innovative works, are also examined. Finally, the essay defines the innovative mechanism as a combination of organizational, managerial, financial, economic, legal, information, technical, and moral-psychological factors that contribute to successful innovation implementation and effectiveness.