Ustinova L.N.Kazan State University of Architecture and Engineering, Kazan, Republic of Tatarstan, Russian Federation buro.ustinova@mail.ru
Importance Intangible resources, which underlie innovative growth and corporate development, constitute one of the significant areas for forming competitive advantages of entities along with conventional resources. In such circumstances, corporate innovation capabilities management becomes especially important in terms of theory and practice. However, trends and experience in innovative development of domestic production necessitate versatile evaluation methods that would reveal the efficiency of using innovative capabilities of the entity. The research focuses on theoretical, methodological and applied aspects of managing the innovative potential of economic systems. Objectives The research pursues improving an algorithm for managing innovation capabilities of economic systems and explores the substance of the innovation capabilities concept. We review the key approaches to managing innovative capabilities, propose and substantiate an algorithm for managing the innovative capabilities of economic systems as the basis of innovative development. Methods The research draws upon an analysis, synthesis, indicative methods, systems approach, factor analysis, economic and mathematical methods for data processing and analysis. It underlies the logic of the article allowing for the adequate presentation of conclusions. Results We propose an algorithm for managing the innovative capabilities of economic systems, which constitutes a mechanism of mutually related functional blocks. Conclusions and Relevance The proposed algorithm is of practical significance as it can be practically used by entities of any scale operating in any industry. This is a ready-made solution for managing innovative activities by influencing innovation capabilities of the economic system.
Keywords: innovation capabilities, management, economic system, development
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