THE ANALYSIS OF APPROACHES TO DEFINING THE INNOVATION CYCLE FROM THE POINT OF VIEW OF OBTAINING A MACROECONOMIC RESULT

The problem of investing in the development of scientific activities of organizations (universities, research institutions, enterprises of the real economy) has been studied for several decades. However, the traditional approaches (product, process, marketing) to the definition of the innovation cycle do not allow evaluating the effectiveness of research funding to obtain a macroeconomic result. In this regard, it is necessary to develop an approach based on the analysis of the performance of each stage of the innovation cycle and the entire innovation cycle as a whole. The paper aims at the analysis of the existing approaches to defining the innovation cycle and the development of a new approach based on the consideration of each stage of the innovation cycle concerning obtaining the macroeconomic efficiency of their results using a resource base in the form of qualified personnel, research tools, and research and production equipment. The study considered the stages of the innovation life cycle (fundamental research, applied R&D, patenting the R&D results, and initial deployment and implementation of development work). The author paid specific attention to the analysis of the initial stage of the process of creating and bringing innovations to the market. The paper contains the comparative analysis of existing approaches to defining innovation cycles, namely product, process, and marketing cycles. The study showed that none of the existing approaches considered the process of creating and implementing innovations from the point of view of obtaining a macroeconomic effect (on the national scale). The author proposed a new approach to determining and evaluating the effectiveness of innovation based on the analysis of each stage of the innovation cycle and assessing their effectiveness, that is, the full innovation cycle from creation to implementation of innovation.

innovation, scientific activities, process, product, and marketing approaches, stages of innovation cycle, scientific activities effectiveness