Innovation management. The cyclical nature and pattern of development of the innovation process (the most important)

Lecture notes, cheat sheets
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Innovation management. The cyclical nature and pattern of development of the innovation process (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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2. CYCLICITY AND REGULARITY OF DEVELOPMENT OF THE INNOVATION PROCESS

The nature of the innovation process is cyclical and logical; this can be seen from the chronological order of the appearance of innovations in various fields of science and technology.

The economic and technological impact of the innovation process is only partially embodied in new products or technologies, more it manifests itself in an increase in the economic and scientific and technical potential as a prerequisite for the emergence of new technology, i.e., the technological level of the innovation system and its constituent elements increases, thereby increasing the susceptibility to innovation.

Cycles can be divided into:

1) short (duration 3-3,5 years);

2) commercial and industrial (medium) cycles (7-11 years);

3) long cycles (48-55 years). Fundamental changes occur in the conditions of the economic life of society and manifest themselves before and at the beginning of the rising wave of each long economic cycle of innovations, consisting in global changes in technical equipment (which in turn is preceded by global technical discoveries and inventions), attracting new countries to world economic relations, change in gold mining and money circulation.

The main role in the cyclicity and patterns of innovation processes belongs to scientific and technical innovations.

Innovations shift the economic environment from a downtrend to an uptrend. Innovations are distributed over periods of time unevenly, appearing in groups (clusters).

Often the explanation of economic fluctuations is reduced to technical innovation and improvement, to the introduction of new resources into operation and the development of new territorial segments. Periods of increased economic activity are periods of time during which the development of technology and the discovery of new resources provide an opportunity for increased investment. During these periods of time, the rate of technological progress increases in comparison with the expected result. During periods of expansion, a new technique is introduced, which creates the basis for an increase in the mass of capital goods and an increase in investment. When a new process is successfully put into action, others can simply imitate it, resulting in a boom. During a crisis, the economic system moves into a new state of equilibrium and stability, which follows the disruption caused by the boom, i.e., the situation stabilizes. The depression period is defined as the period of time during which adaptation and adaptation to the new industrial environment that was created in the previous period of innovation is completed.

Authors: Evgrafova I.Yu., Krasnikova E.O.

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