The impact of human capital and technology in business on the innovation economy

Abstract

Against the backdrop of economic transformations, Azerbaijan is trying to improve its competitiveness in the world. Innovations are becoming a key element of this process, and investments in education and training strengthen the basis for further changes. From this point of view, the item “The situation of the influence of business system development on national innovation activity in Azerbaijan requires strengthening the coordinated actions of both the state and the private sector in attracting investment, human capital and technological resources” in the research work. To confirm this position, we set ourselves the task of analyzing both theoretical approaches and the real situation in this area in Azerbaijan. Taking them into account, they were taken as quantitative and qualitative factors and analyzed on the basis of a fuzzy model using the MATLAB software package, and the methods of statistical comparative analysis and grouping were also used. The theoretical significance of the study lies in expanding the scientific approach to the issue of the influence of human capital, and technology on the formation of an innovative economy in the business system. The practical significance lies in the fact that the proposed results of innovative activity can be important in building an innovative economy in Azerbaijan and in studying the problems of increasing competitiveness.