Year: 2025
Type: article
Abstract: The main goal for implementing modern innovative politics and innovative business is to create economic, legitimate, financial, social, theoretical and practical basis. This task is very important for our country where transition to innovative development of economics got cause and effect character: innovative business activization is unavoidable for effective development of economics and economic politics itself and correct management of strategy defines innovative business. In our work we aimed: to highlight innovative process and theoretical aspects of innovative business development. • Innovative business is confirmed to be the combination of creating novelties and a special kind of theoretical and practical work of its spread in economic system; • Peculiarities of defined business processes of innovative business are presented, namely: the duration of innovative process, indefiniteness of innovative process and high level of risk, a possibility and skill of initiation of its structural changes and the size of innovative business (high intellectual capability, the feature of innovative determination); • The main innovative conditions on macro and microeconomic levels are discussed; • Special attention is paid to a major role of innovative business for stable development of production in a long-term period, innovative character of entrepreneurship, scales of innovative business in inculcation of innovations and its effective usage; • We could not ignore the formation of economics based on new knowledge, correctly analyzing the so-called Tobin coefficient -attitude between the market price of a company and the cost of its real actives, namely “invisible” actives, organizational possibilities of intellectual capital; • In the work it is also presented Joseph Schumpeter’s opinions about multi-aspectual nature of innovative business, his “conception of creative breakdown”. He discusses the latter one as the process of economic mutation, a destroyer of an old structure and creator of new, as the main power of dynamics of socialeconomic system. In practical viability current transformational processes create new economics, or “innovation economics”, which is different from traditional economics by criteria of effectiveness. New or innovative economics criteria are not oriented on economic growth but on measurement of social effects of innovative development. The quality of living is important in all aspects of its appearance.
Authors: Lamara Qoqiauri, Asmat Pipia, Nato Bebiashvili
Institution: Georgian Technical University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4414688073
FWCI:
Cites:
Cited by:
Related to: