Boosting Innovative Activity in Companies: Problems and Potential
Boosting Innovative Activity in Companies: Problems and Potential

Summary/Abstract: This paper represents a factor analysis of innovative activity in the Russian Federation and overseas. The authors examine some of the policy foundations of the innovation-driven development of certain types of economic activity. Economic modernization is viewed here as a key area for boosting innovative activity in companies. The authors highlight the need to enhance the quality of career guidance and vocational training provision to turn out a highly-skilled workforce. A priority area for galvanizing human capital is a mobilization-motivation approach to managing personnel at a company. The authors propose a set of possible ways to galvanize creativity and cultivate on this basis an innovation-driven economy. The authors’ analysis substantiates the advisability of and need for studying best practices from other developed nations, putting to use the existing achievements of national science, and implementing top solutions and achievements in the activity of Russian companies. The use of the outcomes of intellectual labor in high-tech production and production of competitive products will help avoid the possibility of bankruptcy for companies and ensure their long-term operation and efficiency.

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