THE LIFE CYCLE OF INNOVATION

Анотація

Introduction. The life cycle of innovation was explored, including the stage of development of innovation, the stage of preparing for the market, the stage of market implementation, the stage of development, the stage of deceleration, the stage of decline, the stage of exit from the market, the stage of continuation of use; the stages of the life cycle have been analyzed. It is offered to implement a separate stage in the  innovation life cycle - the stage of continuation of the innovation use by the consumer. Convincing examples from the Ukrainian reality are provided .

Purpose. The goal of the article is to study the life cycle of innovation, and the impact of its individual stages on the results of the introduction of innovative ideas.

Results. Even though, the innovation life cycle includes the stages from the creation of innovation to the consumption of the finished product, it does not end there. We believe that the life cycle of innovation will continue until the time when an innovative product or service is consumed.

Originality. It is offered to highlight that one stage in the life cycle of innovations is the stage or the continued use be the consumer.

Conclusion. Each stage in the life cycle of innovation has a significant impact on the implementation of the innovative idea. Thus, the mistakes made in the right choice will diminish the labor and material resources spent. Conversely, the justified feasibility of innovation will allow obtaining highly profitable products with minimal financial investment and, consequently, high profits.

Experimental production in the first stage of the innovation life cycle helps avoid mistakes in the further work and allows, under certain circumstances, to improve technological processes, increase productivity levels etc.

The development of methods for implementing the innovation program in the second and third stages of the innovation life cycle determines the strategy of work in this direction. In particular, the availability of the material, financial, technical and labor resources required for the implementation is taken into account. Depending on these factors, the enterprise chooses the most optimal variant of the program implementation.

Production is the fourth - the decisive - stage in the life cycle of innovation. It focuses on the work of the previous stages, the production capabilities of the enterprise, the organization of the work of the team and responsibility for the final result of the innovation. Marketing and product distribution in the market sum up all the previous stages of the innovation life cycle. If all of them, starting with the definition of the idea, are perfectly implemented, then the company can count on a high level of profitability and good prospects for its development.

The experience of direct implementation of the life of innovative ideas demonstrates that all the stages of the innovation life cycle are the only process of progressive transformations in the organization of the enterprise. Its full implementation is impossible without qualitative creative work at every stage of the life cycle of innovation. The gradual, harmonious transition from one stage to another is a logical continuation of the previous work and is inextricably linked with the integrity of this innovation program. Taking into account the above mentioned info, further investigation of the relationship between each stage of the life cycle of innovation and its impact on both the individual stages of innovation and its final result will be needed. The research will make it possible to identify the most vulnerable places of innovative programs, optimize their costs and profitability, find the necessary means of influence on the condition of effective implementation of the innovative idea.