pp. 1519-1527 | Article Number: iejme.2016.136
Published Online: August 26, 2016
Article Views: 236 | Article Download: 260
The article describes the main characteristics of the economic cycles, a chronology of technological mode with an indication of the driving sectors and sources of energy, in addition it is noted that the economic cycle depends on technological modes and innovative development. It is pointed that the effectiveness of innovative development of organizations lies in achieving of technical, resource, economic and social effects (multi-effect). The article presents the author's interpretation of the term “innovation activity”. Innovation activity is the activity that includes scientific, technological, organizational, financial and business activities, is based on the intellectualization and focused on the commercialization of scientific knowledge, technology and equipment; it combines the social, economic, technical, resource effects. The result of innovation activity is an innovation, as a product (service) or process (technology), and its development is a factor of economic dynamics. The factors influencing innovation activity were emphasized and classified into internal and external, constant and variable-based factors. The conclusion was drawn that the emphasized factors not only affect the innovative activity of organization, but also characterize the life cycle stage of organization, the development of which is also a cyclic process. The article is theoretical.
Keywords: Innovative process; Long waves; K-wave phases; economic cycles
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