Innovation Management In Diamond Cutting In The North

Abstract

Digitalization of the economy together with introduction of innovations is actively entering the industrial production, including diamond cutting. Being such a specific product, diamonds and diamond jewelry faced a significant challenge in reducing consumers demand and the threat of market replacement by diamonds grown in laboratory. The article revealed threats and risks faced by the industry in the global trend of decrease in consumers demand, including due to the spread of new infections (COVID-19). The types of innovations required to minimize risks and threats with the help of end-to-end technologies introduced into the diamond production are identified. The authors presented end-to-end technologies expected to be used in the diamond production. The authors conducted a technology audit of diamond-cutting enterprises engaged in processing in the North of Russia. The innovative development of the industry together with introduction of product and process innovations determines the need for the development of innovation management mechanisms. Furthermore, promising areas of innovative development that have a need for diamond production in the North are identified.