Management of Innovative Development Programs in BRICS Countries: Comparative Analysis and Best Practices

Nowadays, the formation and development of innovative sectors of national economies seem to be an integral part of state policies of many developed and developing countries of the world. The relevance of the issue is mostly explained by the fact that innovations form the basis for sustainable economic growth, improving the quality of life of the population and preserving the environment, which ultimately determines the position of the country in the world economy. Given a huge potential of BRICS countries for further innovative development and rapid technological changes in the international scene, it becomes even more critical for the governments to establish a favorable environment and reduce the gaps between the countries by supporting and managing innovation in the most efficient way. One of the approaches to manage innovation within a country is the adoption of innovative development programs. The aim of the present study is to examine the innovative development programs in BRICS countries. The nature of the topic dictates the use of both a quantitative and qualitative comparative analysis of various components of the innovative development of the BRICS countries. The study might impact a business practice in the way of clarifying general trends and ‘best practices’ of managing innovation by means of innovative development programs in BRICS countries to take them into account in the process of launching and developing such programs in one or another country.