Characteristics of innovative activity in the economy

Before studying the essence and content of innovative development, it is necessary to get an idea of the very concept of "innovation". This concept comes from English. Innovations are associated with the use of new knowledge, know-how embodied in new technologies, new combinations of production factors, as well as with the aim of creating new products that can perform new tasks with a high market potential or eliminate the negative consequences of destructive processes is the result of an activity or activity that a person intends to do. That is, innovation can be considered as the result of the transformation of ideas, research, development, new or perfect scientific, technical or socio-economic solutions. So, the word "innovation" means "novelty" ("novation") and "innovation" (innovation).