Introduction Of Innovative Products Research Articles

თანამედროვე მიდგომები საბანკო რეგულირებისადმი ციფრული ტექნოლოგიების განვითარების პირობებში

The development of digital technologies has a great impact on traditional channels for providing banking services. The speed of introduction of innovative products and services, technological changes require great flexibility from banking regulators. Also, the active participation of the government in the development of digital technologies is one of the main factors of successful digitalization. In modern conditions, in order to ensure the development of innovation in the banking sector, new mechanisms and instruments for regulating innovative financial technologies, products and services are being created. The article specifies that the effective, safe operation and development of the digital financial space requires coordinated actions from all its participants, as well as the establishment of requirements for the assessment and monitoring of potential risks caused by innovations, timely improvement and refinement of regulatory requirements. This allows to maintain the stability of the financial system and protect the rights of consumers, and to promote the development and introduction of innovative financial products and services.

The long-term effects of R&D subsidies on firm performance: evidence from a regression discontinuity design

ABSTRACT Innovation is the most important factor for economic growth, but the government’s ability to affect innovation outcome is contested. This paper presents quasi-experimental evidence on the long-term effects of R&D subsidies for small businesses. We use firm level data on Swedish applicants of the Eurostars R&D program during the period 2008–2019. We find that R&D subsidy has a positive and significant effect on turnover, employment and the number of scientific and technology workers. We also find positive effects on export but with some time lags. The effect is stronger on firms that are expected to be financially constrained, such as small and younger firms. We find that the subsidy effect on turnover, employment and export last for more than 7 years after the end of the project, which is consistent with explanations based on long-term channels such as improved competitiveness through the market introduction of innovative products.

ІННОВАЦІЙНИЙ РОЗВИТОК ПРОМИСЛОВИХ ПІДПРИЄМСТВ В УМОВАХ УПРАВЛІННЯ ПРОЕКТАМИ ТА СМАРТ-ЕКОНОМІКИ

The article examines the issues of innovative development of industrial enterprises in terms of project management and smart economy. Researched scientific works on selected issues. The expediency of using a taxonomic index in the analysis of innovative development of industrial enterprises in terms of project management and smart economy was determined. Attention is focused on the fact that there is a trend of decreasing innovative development in Ukrainian industry, which can be caused by various factors that affect both the internal environment of the enterprise and external conditions. Strategic directions for increasing innovativeness in industry in terms of project management and smart economy are proposed. The expediency of combining smart approaches and project management has been proven. It was noted that the use of project management methods allows to effectively implement new ideas and technologies, shorten the time from idea to release to the market, and also reduce development and production costs. The smart economy opens up new opportunities for industrial development, taking into account the use of smart technologies, data exchange and process automation. It is noted that the integration of these approaches allows creating a favorable environment for the creation and introduction of innovative products and services, which contributes to the growth of the competitiveness of industrial enterprises in the global market environment

Building the Future of the Apparel Industry: The Digital Revolution in Enterprise Architecture

Using qualitative methodology, this study investigates the effects that the digital revolution in corporate architecture has had on the apparel industry. In this article, digital technologies, like AI, big data analytics, and the Internet of Things, are the main points of emphasis. They have revolutionized business and operational practices, as well as marketing strategies in the sector. According to the findings of this study, the implementation of advanced technologies significantly contributes to the enhancement of operational efficiency, the introduction of innovative products, and the enhancement of the competitiveness of businesses. The research also highlights the impact that digital transformation has had on sustainability and personalization in the clothing production industry. It demonstrates that adopting an enterprise architecture that is aligned with digital technologies not only increases operational efficiency but also strengthens innovative and competitive capacity. Furthermore, this research acknowledges the significance of ethically responsible and transparent business practices in this digital era, as well as taking into consideration the effects that digital transformation has on society and the environment. The findings of this study provide industry stakeholders with a strategic perspective that can be utilized in the formulation of adaptive business strategies, the exploitation of opportunities, and the facing of challenges in the ever-changing business environment that is associated with the digital era

Theoretical aspects of the innovative tourism development

The relevance of the research topic lies in the fact that today innovation is necessary in many areas, including tourism. The developing tourism industry needs to find new approaches to increase its competitiveness. The ability to interest tourists in their activities is a guarantee of stable income and business development, which is also facilitated by innovations that will distinguish the company from others. The scale and dynamics of changes in innovation activities have determined the need for research, systematization and streamlining of scientific knowledge and approaches in this area. Thus, the object of the study was innovative processes in tourism. The purpose of the work is to reveal the essence and significance of innovative tourism. To do this, the article carried out a comprehensive analysis of existing approaches to the definition of the terms innovation, innovation, innovation process, innovation in the tourism industry. The scientific and practical significance lies in the fact that the results of the study can be used by scientists and students involved in research on the problem, tourism companies to develop and implement plans for the introduction of innovative products and services, as well as state and local executive bodies to develop strategic and tactical plans. development of the tourism industry in Kazakhstan. The study is based on the methods of theoretical analysis: analysis and synthesis, induction and deduction. The study revealed the main features of innovation in the tourism industry. The result of the analysis was the author's definition of innovative tourism.

Innovation Efficiency of Chinese Light and Engineering Industry Based on DEA-Malmquist Index Model

Scientific and technical innovation is essential for the continuous growth and advancement of the lighting industry. In this study, we utilized the DEA-Malmquist index method to evaluate the innovation input-output efficiency of listed companies in China’s lighting industry from 2015 to 2022. The findings reveal a positive trend in technological innovation within the industry, characterized by increased technological progress and the scale effect. This trend demonstrates the industry’s ability to adapt to market demands and leverage new technologies, contributing to its overall growth and competitiveness. The industry’s emphasis on research and development investment and the introduction of innovative products and processes play significant roles in fostering this positive trajectory. Furthermore, the scale effect observed highlights the benefits of scaling up operations to achieve efficiency and productivity gains. However, to fully capitalize on technological advancements and scale benefits, companies need to strengthen their management practices. Ultimately, the success of the Chinese lighting industry serves as a source of inspiration for other countries and industries, emphasizing the importance of prioritizing research and development, embracing new technologies, scaling up operations, and improving management practices to drive innovation and enhance competitiveness.

Multi-vector development of tourism enterprises

The article is devoted to the formation of approaches to the multi-vector development of tourism enterprises. The multi-vector development of tourism enterprises is one of the most complex systems that consider all key areas and types of activities, divisions, and spheres of functioning. The purpose of the work is to substantiate approaches to assessing the effectiveness of functioning and the main directions of strategic development of tourism enterprises at various levels. The authors identify organizational transformation models, risks of multi-vector development, features of the strategy, and communication of interaction with consumers of tourism services using qualitative methods of data analysis. The scenario approach to the development of enterprises within the framework of multi-vector development is a priority and can be implemented based on the introduction of innovative products by a tourism enterprise and provides for the renewal of technical and technological support, training, or recruitment of new personnel, the formation of a marketing policy for bringing tourism services to the market, informing consumers, creating or reorganizing service services. The authors establish that the proposed approaches to ensuring the multi-vector development of tourism enterprises allow for forming the basis for planning, organizing, controlling, regulating, and implementing high-quality multi-vector development of a company's activities.

International immigration and entrepreneurship in rural areas of the Spanish Pyrenees

The academic literature on international immigration into rural areas has clearly identified two main international migration flows: retirement migration and low-skilled migration in farming. Yet, the emphasis on these two types of international immigrants has overlooked other types of incomers, such as professionals, lifestyle movers, immigrant entrepreneurs and self-employed workers who may potentially have positive impacts on local rural economies and societies. Filling a gap in the literature, this paper concentrates on immigrant entrepreneurship in the Spanish Pyrenees. In doing so, it explores connections between local economies, entrepreneurship, and lifestyle immigration. It also analyses the potential of immigrant entrepreneurs to contribute to local economic growth with the different types of capital they possess (e.g. human capital, social capital). Methodology, it is based on a fieldwork carried out in the Spanish Pyrenees between February and May 2022. Specifically, it has been carried out 31 in-depth interviews with foreign-born immigrants in two areas of the Spanish Pyrenees (Girona and Huesca). The non-representative sample is equally distributed among immigrant entrepreneurs, self-employed workers, and employees, and it was also balanced by sex and covered different ages, covering, thus, a broad spectrum of immigrants’ labour incorporations. Our results add new evidence to previous discussions on immigrant entrepreneurship and lifestyle immigration, from the viewpoint of rural mountain areas. Interviewed immigrant entrepreneurs occasionally play a key role in the creation and introduction of innovative products in very specific market niches in farming and tourism in the Pyrenees. In this way, immigrants stimulate local economies, and help to strengthen values on sustainability, community and sense of place. Yet the companies they create are often limited in both size and capital, and these circumstances generally produce only a slight impact on local economic development and job creation in the Pyrenees

Organoleptic Analysis of Round Sponge Cake with the Addition of Protein-Containing Raw Materials

Topicality. A promising direction for improving the quality of existing flour confectionery technologies and attracting a large number of consumers to the restaurant industry establishments is the introduction of innovative products into their menu content. In order to increase the biological and nutritional value, as well as to improve the organoleptic properties of flour confectionery, the employees of enterprises usually use ordinary raw materials. This research offers the use of new raw materials in the technology of cooking flour confectionery products that contain proteins in their composition, and allow to increase the nutritional and biological value of the finished product. The aim of the article. The aim of this study is the creation of innovative products for hotel and restaurant complexes, made using protein-containing raw materials, the analysis of organoleptic properties of new raw materials and the finished product with its addition. Research methods. The method of compiling an organoleptic profile and a descriptive analysis of finished products was chosen for the organoleptic assessment of semi-finished sponge cakes with the addition of high protein content raw materials (from DSTU (National Standards of Ukraine ) ISO 6658). Results. Based on the results of research, the possibility of using plant raw materials (spirulina powder) and insect processing products (cricket flour) was established; organoleptic indicators of finished products quality and the concentration of adding raw materials to the sponge cake recipe were determined. Conclusions and discussion. The obtained research data showed that when using spirulina powder and cricket flour in the technology of the round sponge cake, it is advisable to add them in the amount of 10.0% for increasing the nutritional and biological value of dinished products. The practical significance of the obtained results consists in expanding the assortment of flour confectionery products with increased nutritional and biological value, which can be sold both in the trade network and in the restaurant business establishments, and presented by cakes, pastries, desserts.

The Impact of Self-Regulation and State Regulation on Small Business Development: An Innovative Approach

Various factors affect the development of small business. Among these are self-regulation and state regulation. The authors focus on the impact that self-regulation and state regulation have on small business, study their interrelation, and interplay in the infrastructural support for the small business development. Both self-regulation and state regulation have their own objectives, guiding principles, inherent functions, and a set of methods and tools to influence the development of small businesses. The authors conclude that, in present day Russia, the focus is on shifting from state regulation to self-regulation without providing additional conditions for development, which reduces the social efficiency of self-regulation. Self-regulation as an alternative to state regulation should be chosen based on the level of the social relations development in general and in the regulated area, in particular. Currently, the development of innovative small businesses as drivers in the economic development attracts much attention. Without state regulation of innovative processes, sustainable socio-economic development of Russia is almost impossible. The economic mechanism of control over the innovative business should include the infrastructure to favor the conditions for the development and introduction of innovative products by small enterprises; the regulatory framework to create equal conditions for business operations, considering the specifics of production and its priority for the region it takes place in; the HR-related matters to plan business activities considering the professional competence of specialists and the ability to improve their skills. The transition to the innovative development path should include the possibilities of both self-regulation and the need for state regulation to form the conditions for a favorable innovative environment.

Digital Technologies in the Agro-Industrial Complex on the Example of the Electronic Platform of Rosselkhozbank svoe-rodnoe.ru

The subject of the study is digital technologies in the sphere of agro-industrial complex on the example of Ecosystem “Svoe” of JSC Rosselkhozbank. The purporse of the work are: analytical assessment of the essence and function of digital technologies in the Russian agricultural industry using economic and statistical methods; identification of the problems that are an obstacle to the introduction of modern technologies; and providing practical recommendations on informing more agro-industrial companies about the resources of the “Svoe’’ ecosystem for their use in their current activities. In recent years, the digitalization processes in the industry have intensified, but not yet reached the required level for more efficient business. In addition, for the most part only large enterprises and agricultural holdings can afford the introduction of innovative products. Big business is ensuring the continuous growth of economic indicators in the industry. Small enterprises digitalization processes due to a lack of financial and human resources are slow. To assist small and medium-sized businesses, the ecosystem “Svoe” of Rosselkhozbank was launched in 2020, which is a high-quality example of the introduction of digitalization in agro-industrial complex. Finally, the conclusions are drawn in relation to the need of state support for digitalization pro­cesses in the agro-industrial sector, both through financial investments in the activities of enterprises and through reforming the educational sphere connected with training, education and retraining of industry representatives using the achievements of scientific and technological progress; participation of the state in the formation of the countryside as an attractive place to live. Some conclusions about the uneven nature of the implementation of digitalization processes at the enterprises of the industry, the need to reform the education system using innovative developments in the training of specialists for agribusiness enterprises, and the inevitability of improving rural areas to attract additional human resources to the industry are drawn. Despite the existence of the “Svoe” ecosystem of Rosselkhozbank for a short time, it is worth noting the huge benefit of the platform in solving many problems of its users.

A Study on Customer Satisfaction towards Digital Payments with Special Reference to Chennai City

India has traditionally been an economy obsessed by cash. With exceptional population demographics and diffident literacy levels, it is a difficult market to digitalize. However, as a consequence of demonetisation, India has been witnessing a new wave of financial technology, with the introduction of innovative products and a wider customer base. Increased penetration has also compelled both the regulators and government to renew their focus on this migration to a cashless society. The new-age client anticipates transactions to be fast, continuous and custom-made. The effortlessness and suitability offered by e-commerce has transformed consumer behaviour, and this has stretched quickly to the payments market as well. Therefore, the sector has experienced drastic changes in the past few years. Payment companies have been progressively capitalising the power of big data, analytics and the cloud to create customer-centric models. This has created a new marketplace, ushering in a new era in the payments market. A number of innovations have occurred in the past five years leveraging mobile devices and connectivity to make payments simpler and more valuable.

Развитие организационной инфраструктуры инновационной экосистемы взаимодействия университетов, бизнеса и власти на основе цифровых платформенных решений

In the context of the growing uncertainty of economic and political conditions, the rapid development of technologies, there is an increasing need to develop tools to support and improve the effective interaction of universities, business, and government for prompt introduction of innovative products to the ecosystem of regions. Within this study, the authors substantiate the need to improve the organizational infrastructure of various forms of integration of the subjects of the region’s innovation ecosystem based on universities using digital platforms. An improved infrastructure should ensure the implementation of all stages of the life cycle of innovative projects. The authors proposed using digital innovation platforms as the main structural element of the infrastructure for the integration of competencies and resources. It is proposed to build and develop the architecture and digital services of the platform based on the end-to-end information technologies, such as artificial intelligence, big data, etc. The authors developed a conceptual model to support the procedure for the formation of a trajectory for the implementation of innovative projects using the services and tools of the digital innovation platform. The model is based on the processes of assessment, selection of integration subjects that have the resources and competencies necessary to obtain a product in accordance with the terms of reference, and to implement all tasks of all life cycle phases of innovative projects, including complex projects. The use of the proposed conceptual solutions will allow improving the innovation ecosystem organizational infrastructure, which will create an opportunity to increase the rate of the output of innovative products in the context of set limits.

ТОВАРНА ІННОВАЦІЙНА ПОЛІТИКА ЯК СКЛАДОВА МАРКЕТИНГОВОЇ ДІЯЛЬНОСТІ КОМПАНІЙ НА РИНКАХ В2С ТА В2В

The article considers the definition of the concept of innovation and the factors affecting the need for innovation. It was noted that the successful implementation of innovations in the development of new goods and services and in production technologies is the key to maintaining a high level of economic performance of enterprises in the B2C and B2B markets. The development of innovative activity in Ukraine and the change in the indicator of innovative activity in the B2C and B2B markets were studied. It is highlighted that the focus on new technologies, marketing methods, trends and new services helps entrepreneurs to constantly attract customers, develop innovatively and increase profits. The article states that there is a need to apply not only product innovations, but also innovations aimed at elements of the marketing complex, the goals of marketing activities are defined: short-term and long-term. The process of planning a new product was studied and its stages were determined. The foreign experience of developing and introducing new products to the market was analyzed. Taking into account the foreign experience of implementing product innovations, it is recommended that at the stage of developing a marketing strategy, more attention should be paid precisely to the price expectations of consumers, since among the main factors of the success of enterprises in modern market conditions is leadership in terms of costs. The peculiarities of the implementation of product innovations of enterprises operating in the B2C and B2B markets are considered. It is noted that the approach to the development of a new product of companies operating both in the B2C and B2B markets requires detailed study, since according to statistics, almost 40% of unsuccessful innovative developments are observed in the B2C market and about 20% in the B2B market. Enterprises that work on the B2B market have certain features regarding the introduction of innovative products to this market. These companies must take into account the risks faced by the consumer organization. Product innovation is a decisive factor in the marketing activities of companies.

НЕОДНОЗНАЧНОСТЬ ХАРАКТЕРА ПОСЛЕДСТВИЙ ИНТЕГРИРОВАНИЯ ИННОВАЦИОННЫХ РЕШЕНИЙ В РАЗЛИЧНЫЕ СЕКТОРА ЭКОНОМИЧЕСКОЙ ДЕЯТЕЛЬНОСТИ

The article discusses the preferential and negative effects of integrating innovative solutions in various sectors of management. Positive and negative trends in a number of key innovative areas of economic activity are highlighted. The main “pain points” of the results of the application of innovations are identified, the toxic dependencies of the use of innovative solutions in the technological, social, economic and environmental sectors are characterized. The emphasis is placed on the need for detailed research in the field of the negative impact of the introduction of innovative products into production and life processes of the population. Guidelines are formulated to minimize damage from adverse consequences in accordance with the strategy of scientific and technological development of Russia, including regulatory, socio-economic, financial, industrial and environmental regulation.

Relief Policy and the Sustainability of COVID-19 Pandemic: Empirical Evidence from the Italian Manufacturing Industry

This work investigates the impact of COVID-19 on the Italian manufacturing industry, testing whether the recovery measures introduced by the government were effective in alleviating the economic consequences of the virus in 2020. In particular, this work aims to address the impact of COVID-19 on the Italian manufacturing industry, and evaluation of the adopted recovery measures. Considering the current situation, with the war in Ukraine and the related gas crisis across the European Union, such investigation on policy relief is even more relevant, contributing to the current debate. Adopting RE models, and considering the latest economic and financial information available, we analyzed active private limited firms in the Italian manufacturing industry between 2019 and 2020, investigating the impact of layoff on their productivity (i.e., Total Factor Productivity) and profitability (i.e., Return On Assets), as well as their expected probability of default. According to the results of these regression models, and assuming 8 weeks of layoff, we observed an increase in productivity (between 1.20% and 1.59%), a decrease in profitability (1.47%) and an increase in bankruptcy risk (2.27%). Hence, the relief policy was not able to alleviate the economic consequences of COVID-19 for these firms, even though the layoffs were able to support their productivity. Practical implications concern the necessary improvements for the above relief policy, i.e., interventions to support the demand of manufactured products, interventions to support the digitalization of services, interventions to support the remote working, and interventions to support the introduction of innovative products on the market.

Triple Helix interactions in a rural context: The case study of a regional business incubator

This study explores the relationships within university-industry-government interactions, with specific reference to the business incubator of Penela, Portugal. It describes the formal, informal and human resource links between the sample of thirteen firms based in the incubator and universities, as well as the relations between Penela Town Council and the incubator. The impact of all these linkages on the development of the biotechnology and agricultural sectors is considered. The results confirm that the dynamics of the relations between the Triple Helix actors led to the emergence of the Penela Incubator. The latter operates as a mechanism of knowledge/technology transfer and stimulates cooperation between the university and industry, which is characterized by mostly informal links. In addition, the research revealed that these interactions had a positive impact on the development of the region, resulting in the creation of companies and the introduction of innovative products.

EUROPEAN INTEGRATION DEVELOPMENT PLATFORM OF INNOVATIVE ENTREPRENEURSHIP OF UKRAINE

The fundamental processes of innovation of the global economic system and the dynamic development of industry 4.0 put forward among the strategic priorities of economic development of Ukraine the development of domestic innovative entrepreneurship as one of the main tools for the inclusion of Ukrainian companies in the global value chains. Systemic development of innovative entrepreneurship implies both maximum mobilization of the national scientific and technical resource and its deep integration into European innovation networks. Study of the system of factors related to the development of innovative entrepreneurship on the GDP of Ukraine, and justification of the key directions of its development based on the implementation of tools and mechanisms provided by the Association Agreement between Ukraine and the European Union. An integrated methodological approach based on the use of general scientific and special methods of scientific research, primarily economic and mathematical modelling and extrapolation, as well as statistical and graphical methods in the processing and synthesis of statistical data and their reflection. The conducted econometric analysis showed that the most significant impact on GDP is exerted by such factors of development of innovative entrepreneurship as total expenditures in the areas of innovation, research and development, purchase of machines and equipment and software, introduction of innovative products, investment in fixed capital. Full-scale implementation of the tools for the development of innovative entrepreneurship, laid down in the Association Agreement between Ukraine and the European Union, will ensure the dynamic spread in the Ukrainian economy of new forms of research and development (R & d), large-scale implementation of their results in economic practice, as well as the intensification of international technological transfer of domestic economic entities.

The role of academic spin-off companies in improving the competitiveness of universities

Object: The development of innovations and commercialization of research results is a complex and important task of university management. Ensuring the relationship between science, education and business is becoming a target priority of the state as a whole, since such an approach is able to ensure the economic development of the country through the introduction of innovative products in various areas of production.Methods: General methods in economics, a logical description of the components and functions of digital technologies, a systematic approach.Results: The authors present a model of academic spin-off, developed based on studying various approaches to the content and organization of spin-off companies and the best international experience and reflecting the mechanism of spin-off functioning at universities in Kazakhstan and the role of management in this process. The authors conclude and recommend the improvement of the relationship between science, education, and business to ensure the economic development of the country through the introduction of innovative products in various areas of production.Conclusions: University should be the link between science and business. Effective university management in organizing spin-off companies at the university will allow businesses to understand its importance and the need to participate in the educational and scientific process. Another problem is the lack of innovative manufacturing entrepreneurship. The university can also play an important role in this problem, which will provide the training of relevant specialists.

Innovative forest products in the circular bioeconomy.

Background: The forest-based industry has been moving towards the manufacture of bio-based products in response to the increasing concern by consumers and governments regarding the use of non-renewable materials and the generation of residues. Various innovative technologies geared towards reducing the environmental footprint of products and processes are currently being developed and applied in the forest-based industry. This study presents some innovative wood-based products that are about to enter the market or that are already being commercialized but have the potential to expand in market size. Methods: We collected data from interviews and a survey with organisations working with product development and manufacturing, and from the literature. Results: Many innovative products that are already produced at an industrial scale, such as cross-laminated timber, wood-based composites, and lyocell, can still increase their market share in the coming years. Some of the up-and-coming products with high potential to substitute fossil-based materials and will likely enter the market in the near future are wood foam, lignin-based adhesives, glycols, bioplastics, and textile fibres. Our study indicates that, although biomass demand is expected to increase, stakeholders do not consider future supply a limiting factor. Conclusions: The ease of market introduction of innovative products relies heavily on the products' ability to take advantage of existing value chains. Overall, many of the reviewed products have the advantage of being 'drop-in'. This is because products that require adjustments to production lines are less likely to get into the market without strong external drivers that push for bio-based alternatives. According to stakeholders, the economic viability and the market expansion of these products could be encouraged to a certain extent by EU policies, and certain barriers could be alleviated by reducing bureaucracy, increasing the support for pilot-scale to full-scale production, and increasing subsidies for bio-based alternatives.