Development of a Model of the Innovation Creation Process Based on Modern Methodologies and Tools

Progress and its simultaneous influence on the economic processes are forcing companies to pay more and more attention to self-development and the race for the competitive advantage. In order to make this process more comprehensive, companies are building exclusive innovation creation models, but their effectiveness often does not allow them to achieve business goals. This work is aimed to develop a model of the innovation creation process using modern methods and approaches to provide companies a possibility of effective development through maintaining competitive advantages. The model is developed based on the results and conclusions obtained in the course of research of scientific and periodical publications about the problem. On the basis of the knowledge gained, the own model of the process of creating innovations was developed, which included the most effective modern approaches and methodologies. The model is decomposed into separate stages, each of which is detailed enough to use it in life. In addition, a process model diagram is presented that allows you to understand the relationships between the stages and the structure of the process as a whole. In the course of this work, the developed model was tested in the real environment. For this, a ten-week experiment was organized, in which 60 people took part. It was made possible to collect data about a model implementation on practice and to identify elements that require further refinement. It also added the practical significance of the model, as it turned out to collect empirical data that describe the actual use of the model with confirmation of its performance in the form of real projects. The final result will be useful for companies that have innovation activities because it offers a proven model of the innovation creation process that can improve their innovation efficiency.