Innovation management in Russia: challenges and prospects

Abstract

The current stage of economy development is characterized by serious interest in studying economic theory, which includes such lines as study of management in its broad and narrower sense. The article analyzed academic literature on the subject ‘Innovation management’, researched and summed up foreign and Russian experience. The author shows different interpretations of the term ‘innovation’ found in foreign and home academic literature. On the basis of academic sources’ analyzing the author depicts key aspects of the system and functionally- riented approaches. The author puts forward the classification of the principle models of innovation system existing in global economy: models on the basis of innovation and models based on innovation proliferation. Key factors influencing the process of innovation management were identified and problems hindering the development and introduction of innovation in Russia were analyzed. A considerable section of the research deals with models of open and closed innovations, their specific features and practice of their use in Russian business. The author gives practical examples of innovation management from Russian and foreign experience and shows prospects of innovation development in Russia.