THE ECONOMIC ESSENCE OF TRAJECTORIES OF INNOVATION PROCESSES

Abstract

The paper presents the review of modern approaches to such terms as “innovation”, “management innovation”,
“innovation management”. Their essence and peculiar features in the context of a modern market situation
are revealed. The authors assume that under current conditions in the management practice it’s rational
to introduce innovations into the company’s economic activity step by step. On the basis of this suggestion
the notions “step of innovation process” and “trajectory of innovation process” are introduced. This approach
enables one in the end to ensure more efficient introduction of innovations into the economic activity due to
discrete characteristics of the innovation process.