Abstract
In modern conditions innovation is the main determining factor for social and economic development of Russia.First of all this is because of globalization processes occurring in the world. In terms of economics, globalizationis transformation of the world space into a single area where information, goods and services, capital move freely,where ideas and their carriers are disseminated without difficulty, encouraging the development of moderninstitutions and debugging mechanisms of their interaction. Formation of a single (common) internationaleconomic space inevitably leads to the formation of a single legal, cultural and information space. Suchtransformations result in the process of approaching of consumer preferences and the universalization of therange of the offered products all over the world (based on standardization), during which global products replacethe local ones (created taking into account conditions and preferences of local consumers). Single informationspace of globalized economy stimulates acceleration and simplification of transfer of management technologyand experience. All this contributes to the intensification of international competition, and consequently todeeper specialization and international division of labor, which cannot but cause the growth of production at bothnational and global levels.
Highlights
Increased competition in the global economy encourages the development and dissemination of innovations
Improvement of the quality in developing countries is an obvious positive feature, since the coming of transnational corporations to this country means in most cases acceleration of dissemination of new products and services, thereby stimulating economic development and improvement of life quality
The third key element of the Economics of Quality is management of quality which is considered as a tool for innovative development of economics at all levels of management: company, region, state as a whole
Summary
Increased competition in the global economy encourages the development and dissemination of innovations. In conditions of freedom of consumers’ choice it is the quality of goods or services that is a key factor. Improvement of the quality in developing countries is an obvious positive feature, since the coming of transnational corporations to this country means in most cases acceleration of dissemination of new products and services, thereby stimulating economic development and improvement of life quality. The free dissemination of information results in positive changes in the social sphere, provision of the appropriate level of the community needs. This is a necessary condition for the formation of society's demand for innovation
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
