Management of Innovations by Increasing the Efficiency of Innovation Activity of the Enterprise
DOI:
https://doi.org/10.51699/ajsld.v3i3.3461Keywords:
business models, globalization, innovation, radical innovation, innovation managementAbstract
This essay explores the intricacies of managing and implementing innovation, highlighting the obstacles that frequently stand in the way of advancement in this field. The goal of the study is to clear the path for more successful innovation tactics by identifying these barriers. The study delineates distinct approaches targeted at optimizing the process of invention generation, with an emphasis on reducing both temporal and monetary outlays. After conducting a comprehensive analysis of current obstacles and inadequacies, the research provides valuable suggestions for improving the management framework that oversees innovation initiatives in businesses. These suggestions aim to improve the distribution of resources, expedite procedures, and create an atmosphere that is more favorable for the growth of innovation.
References
D. Luamba, M. L. J. Blye, Ir. E. M. Mwema, I. A. Williams, Dr. K. C. James, and J. Chagadama, “The Benefits of Innovation for Small Businesses,” Int. J. Bus. Manag. Res., 2021, doi: 10.37391/ijbmr.090405.
S. Afriyie, J. Du, and A. I. Musah, “Innovation and Marketing Performance of SME in an Emerging Economy: The Moderating Effect of Transformational Leadership,” J. Glob. Entrep. Res., 2019, doi: 10.1186/s40497-019-0165-3.
I. Miroshnychenko, A. V. De Massis, D. Miller, and R. Barontini, “Family Business Growth Around the World,” Entrep. Theory Pract., 2020, doi: 10.1177/1042258720913028.
J. Chen, L. Liu, and Y. Wang, “Business Model Innovation and Growth of Manufacturing SMEs: A Social Exchange Perspective,” J. Manuf. Technol. Manag., 2020, doi: 10.1108/jmtm-03-2020-0089.
M. Urbaníková, M. Štubňová, V. Papcunová, and J. Hudáková, “Analysis of Innovation Activities of Slovak Small and Medium-Sized Family Businesses,” Adm. Sci., 2020, doi: 10.3390/admsci10040080.
R. Bell, “Innovating to Survive in Competitive Markets: Business Model Innovation of Chinese Digital Businesses,” Int. J. Innov. Sci., 2022, doi: 10.1108/ijis-09-2022-0189.
J. H. Lee, T. Suh, D. Roy, and M. S. Baucus, “Emerging Technology and Business Model Innovation: The Case of Artificial Intelligence,” J. Open Innov. Technol. Mark. Complex., 2019, doi: 10.3390/joitmc5030044.
D. R. Saraswati, P. Pristiyono, and A. Harahap, “The Effect of Business Model Innovation and Entrepreneurship Orientation on MSMESs Performance Through Business Agility Moderated Financial Literature,” Quant. Econ. Manag. Stud., 2022, doi: 10.35877/454ri.qems973.
M. Hossain, “Frugal Innovation and Sustainable Business Models,” Technol. Soc., 2021, doi: 10.1016/j.techsoc.2020.101508.
A. Angelino, M. Tassinari, E. Barbieri, and M. R. Di Tommaso, “Institutional and Economic Transition in Vietnam: Analysing the Heterogeneity in Firms’ Perceptions of Business Environment Constraints,” Compet. Change, 2020, doi: 10.1177/1024529420939461.
E. Allain, C. Lemaire, and G. Lux, “Managers’ Subtle Resistance to Neoliberal Reforms Through and by Means of Management Accounting,” Account. Audit. Account. J., 2021, doi: 10.1108/aaaj-12-2018-3799.
P. Graves, D. Blackman, and M. O’Donnell, “Embedding Australian Public Service Management Reforms: The Secretary Could Not Make It So,” Aust. J. Public Adm., 2021, doi: 10.1111/1467-8500.12477.
P. Amelia, “Predicting Financial Distress Using DEA and Multivariate Discriminant for Tourism, Restaurant, and Hotel Sector in Indonesia,” J. Int. Conf. Proc., 2022, doi: 10.32535/jicp.v5i4.1936.
H. Z. H. Alsharif, T. Shu, B. Obrenovic, D. Godinic, A. Alhujailli, and A. M. Abdullaev, “Impact of Entrepreneurial Leadership and Bricolage on Job Security and Sustainable Economic Performance: An Empirical Study of Croatian Companies During COVID-19 Pandemic,” Sustainability, 2021, doi: 10.3390/su132111958.
D. D. Mohd Zamani, N. A. Hamid, M. F. Ahmad, and A. N. Aizat Ahmad, “The Influence of Innovation Practices on the Productivity and Survival of Micro-Business Restaurants During Post-Pandemic Covid-19,” Int. J. Ind. Manag., 2022, doi: 10.15282/ijim.15.1.2022.8999.
R. Chopra and G. D. Sharma, “Application of Artificial Intelligence in Stock Market Forecasting: A Critique, Review, and Research Agenda,” J. Risk Financ. Manag., 2021, doi: 10.3390/jrfm14110526.
B. Moews, J. M. Herrmann, and G. Ibikunle, “Lagged Correlation-Based Deep Learning for Directional Trend Change Prediction in Financial Time Series,” Expert Syst. Appl., 2019, doi: 10.1016/j.eswa.2018.11.027.
I. K. Nti, A. F. Adekoya, and B. A. Weyori, “Efficient Stock-Market Prediction Using Ensemble Support Vector Machine,” Open Comput. Sci., 2020, doi: 10.1515/comp-2020-0199.
I. Abeysekera, “Innovation and Business Performance in Australia: Role of Entrepreneurship and Intrapreneurship in a Crisis,” Front. Psychol., 2023, doi: 10.3389/fpsyg.2023.1126313.
J. Choi, D. Hackbarth, and J. Zechner, “Granularity of Corporate Debt,” J. Financ. Quant. Anal., 2020, doi: 10.1017/s0022109020000149.
E. Timotius, “The Role of Innovation in Business Strategy as a Competitive Advantage: Evidence From Indonesian MSMEs,” Probl. Perspect. Manag., 2023, doi: 10.21511/ppm.21(1).2023.09.
M. Najib, A. A. Abdul Rahman, and F. Fahma, “Business Survival of Small and Medium-Sized Restaurants Through a Crisis: The Role of Government Support and Innovation,” Sustainability, 2021, doi: 10.3390/su131910535.
A. P. Agarkov and R. S. Golov, Management of Innovation Activity: A Textbook for Use in the Educational Process of Educational Organizations Implementing Programs of Higher Education in the Areas of Training “Management”, “Innovation” (Bachelor’s Degree), 2nd ed. Moscow: Publishing and Trading Corporation “Dashkov and K,” 2020.
S. R. Lebedeva and N. N. Pokutnyaya, “About Some Aspects of Modern Innovation Management: Challenges, Tools, Methods,” in Innovations in the Management of Socio-Economic Systems (RCIMSS-2020): Proceedings of the National (All-Russian) Scientific and Practical Conference, Moscow: Limited Liability Company “Rusains,” 2020, pp. 86–94.
K. Wilson and Y. Doz, “10 Rules for Managing Global Innovation,” Harv. Bus. Rev., vol. 90, no. 10, pp. 86–90, 2012.
