Innovations as the Main Driving Force for the Development of National and World Economy
Journal Title: Globalization and Business - Year 2016, Vol 1, Issue 1
Abstract
Due to the growth of the population and their needs is increased role of scientifi c and technical advances and technological innovation. As they are changing and are promoting world of economy and economic growth. Innovation is the main driving force for the development of national and world economy. Innovative process as a unifi ed system, characterized by unity of industrial-technological, organizational and socio-economic. The conditions of market economy, without innovation there is no growth. This is confi rmed by Example of the developed countries, Who gained their strength based on radical innovations . Innovation is focused on creating new technologies and products. Any kind of activity needs to support and encourage innovation by the state, ‘cause innovative business activity improves Entrepreneurship in all areas, it’s focused on specifi c customer needs and have a competitive character. It includes the process of capital. Innovation depends on the eff ectiveness of optimally designing investment portfolio. Innovation depends on the eff ectiveness of optimally designing investment portfolio, Which is why companies have to combine these sources wisely. Large corporations have the material and fi nancial resources and have qualifi ed staff to ensure the continuity of the process of innovation and leadership in the world and in their own market. Also is the problem of investment in innovation, As it is diffi cult to attract investment in innovative projects. Investing is a long-term nature and the lack of profi tability in the fi rst stages, as well as the risk that these investments may prove to be futile. Georgia is a country rich in human capital. It has a very important resource for economic development, and use reasonable of it makes serious development. Georgia needs a national policy, which leads to the formation of a powerful innovative sector. In this sector, our country should establish their place in the world market. We should fi nd the necessary funds for the formation of the national innovation system. In this process should take an active part of the private sector with the government. We should take care that the sectoral institutions become private of property companies, have become part of their business schemes, whose work will be focused on market demand. The country’s innovation policy should take the capacity of the national ideology.
Authors and Affiliations
Nino Maziashvili
Keywords
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