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Economic Analysis: Theory and Practice
 

Evaluation of innovative activity of individual economic activities

Vol. 15, Iss. 7, JULY 2016

PDF  Article PDF Version

Received: 16 March 2016

Received in revised form: 28 March 2016

Accepted: 12 April 2016

Available online: 27 July 2016

Subject Heading: Innovation

JEL Classification: L19, L23, L31

Pages: 175-184

Starodubova A.A. Kazan National Research Technological University, Kazan, Republic of Tatarstan, Russian Federation
upfr-nk@list.ru

Misbakhova C.A. Nizhnekamsk Institute of Chemical Technology, Branch of Kazan National Research Technological University, Nizhnekamsk, Republic of Tatarstan, Russian Federation
330-a@mail.ru

Importance Under the Russian economy restructuring, which is characterized by the State support to priority areas of innovation, it is essential to evaluate innovative activity of certain types of business operations.
Objectives The paper aims to develop a methodology of evaluating the innovative activity for practical application, to test it, considering the petrochemical industry case, and to formulate certain criteria.
Methods To evaluate the innovative activity of the petrochemical industry, we applied our uniquely devised techniques.
Results The evaluation of innovation in certain types of economic activities consisted of three stages. At the first stage, we calculated four indicators for the period (one calendar year). At the second stage, we calculated points that characterize the type of innovative activity by four indicators, At the third stage, we determined a class of innovative activity based on the total score (our unique classification). Then we tested the results by investigating the petrochemical industry case.
Conclusions The offered method is an affordable and a simple tool to monitor the innovation of business operations. The revealed trends in the industry will enable to make timely adjustments to strategic plans of companies and take State support measures.

Keywords: innovative activity, economic activity, petrochemical industry, costs, technological innovation

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