Developing mechanisms to manage innovation strategy and commercialization of innovations based on value approach

Innovations management

The article examines the key elements of realizing the mechanism of innovation strategies and commercialization of innovations, which is directly related to it. The descriptive model of the innovation commercialization process was proposed. The model is built on the value approach which determines the growth of the enterprise market price as a criterion of the commercialization. It was suggested to use the key success factors in evaluating the effectiveness of the innovation commercialization. In order to assess the growth of the company market value, the authors offer to use a method of economic added value and to incorporate the elements of economic added value in the system of evaluating personnel and business units.