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A comprehensive methodological approach to creating and evaluating the innovative potential

Vol. 14, Iss. 12, DECEMBER 2018

Received: 12 July 2018

Received in revised form: 10 August 2018

Accepted: 30 August 2018

Available online: 14 December 2018

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: O31

Pages: 2300–2316

https://doi.org/10.24891/ni.14.12.2300

Dmitrik E.G. Stary Oskol Technological Institute, Branch of National University of Science and Technology (MISiS), Stary Oskol, Belgorod Oblast, Russian Federation
dmitrikeg@mail.ru

ORCID id: not available

Subject I theoretically substantiate conditions for the development of innovation and innovative activities and their patterns in the ever changing socio-political, economic and regulatory environment. I also examine constituents of the innovative potential and methods to quantify it.
Objectives The research determines the principal factors contributing to the emergence of innovation, innovative development of the economy. I identify constituents of the innovative potential design, trace their relationship, elaborate the technique for quantification of the innovative potential in accordance with inner ties among its constituents.
Methods The research relies upon general scientific methods, such as retrospective analysis, generalization, logic method.
Results I found and theoretically substantiated distinctions and patterns in the development of innovation and innovative activities. The article describes the model reflecting the relationship among constituents of a new innovation-driven environment and determines their nexus. I propose the technique to evaluate the innovative potential by computing the comprehensive integral indicator, which accommodates the relationship of the constituents. The proposed technique allows not only to evaluate the regional innovative potential, but also observe its dynamics through key factors, make more effective decisions for managing elements of the new competitive environment.
Conclusions and Relevance The new innovation-driven competitive environment is built through the comprehensive methodological approach, which influences the innovative potential. The innovative potential comprises S&T capabilities, educational potential, investment opportunities and possibilities of consumers. In evaluating the innovative potential, it is necessary to use the integral coefficient of the innovative potential development, which accommodates the interaction of all the constituents.

Keywords: development, quantification, innovation potential

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