STATE AND DEVELOPMENT OF THEORETICAL KNOWLEDGE ABOUT INNOVATION
STATE AND DEVELOPMENT OF THEORETICAL KNOWLEDGE ABOUT INNOVATION

Summary/Abstract: Striving for the new, more reliable and to the better is a major force that drives the development of society as a whole. It is important for each entity to know the nature, peculiarities and ways of transforming the ideas into products or services that will be able to satisfy consumer requirements, increase profits and ensure the growth of the enterprise. All this gives the organization a higher competitiveness, an opportunity to expand the market worldview, the possibility to change the organizational structure, to increase production, more qualified personnel, etc. Dynamic economy, knowledge of innovation and the way of management are extremely valuable, and their ability to use becomes a major source of competitive advantages. The main objective of this article is to clarify the content, the nature and the peculiarities of innovation, and to define its characteristics. The main research methods used in the development are content analysis, method of analysis and synthesis, intuitive and systematic approach.

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