THE ROLE OF INNOVATION MANAGEMENT IN MODERN ECONOMIC DEVELOPMENT
Keywords:
Keywords: innovation management, economic development, R&D, innovation ecosystems, entrepreneurship, digital transformation, strategic planning, sustainability.Abstract
Abstract: This paper explores the pivotal role of innovation management in driving sustainable economic development in the modern era. It examines the core components of innovation systems, including R&D, strategic leadership, education, and financial mechanisms. The study also highlights global best practices from leading innovation economies and addresses the challenges faced in managing innovation. The findings underscore the need for a comprehensive innovation ecosystem that fosters collaboration, creativity, and resilience in a rapidly changing global economy.
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