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Improving the return on investment in innovative entrepreneurship


Melnikov O.N., Yaremchuk A.P.
(about the authors)

Melnikov Oleg – (Bauman Moscow State Technical University)

Yaremchuk Alexey – (Bauman Moscow State Technical University)

Published in:
Russian Journal of Innovation Economics
– Volume 7, Number 2 (April-June 2017)

JEL classification: D20, E22, O32

Keywords: apple, compliance, guanxi, innovation, innovative entrepreneurship, investment, ROI, Steve Jobs, trust, trust relationships


Citation:
Melnikov O.N., Yaremchuk A.P. (2017). Improving the return on investment in innovative entrepreneurship. Russian Journal of Innovation Economics, 7(2), 109-124. doi: 10.18334/vinec.7.2.38150


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Abstract:

The article presents the results of research on the influence of trust relationships and the atmosphere of trust between investors, management and consumers on their decisions to create, produce and market innovative products and / or services. It is shown that the development of innovative entrepreneurship can’t be effective without managing the process of forming an atmosphere of trust along the whole chain of the business process - from investors to consumers of an innovative product. There are presented and proposed to practical use the ranking grading scale for the level of trust between investors and management of organizations (within B2B relationships) and between companies and consumers (within the framework of B2C relations). It is noted that at present, the return on investment for innovation development - ROI, takes into account only external factors arising in the implementation of market relations, and does not take into account the influence of internal factors that have a significant impact on it. First of all, this concerns the trust that exists in the relations between all participants of business processes.








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