Modeling of innovation policy favourable for the Lithuanian business development
The promotion of business innovation activity becomes one of the most important challenges of national and international public policy formation and implementation in order to create the knowledge – and innovation-based economies and to ensure general economic and social progress of the countries. Therefore, an aim of this research is oriented to the identification of factors influencing business innovation activity and possible public policy initiatives for the promotion of this type of activity that at the same time could allow providing the recommendations for the improvement of national innovation policy in terms of business sector development. According to this, the complex research of business innovation promotion was performed, including both an analysis of public policy initiatives in the field of investigation as well as an evaluation of factual business needs and challenges concerned with its innovation activity. The research discusses the pivotal positive and negative innovation factors and public policy actions necessary for the promotion of business innovation activity, reveals the existing obstacles of business innovation activity in Lithuania as well as provides the justified recommendations for the improvement of national public policy actions in terms of business innovation promotion.
JEL codes: M21, O31, O38.
Article in: English
Published on-line: 2014-03-25
Keyword(s): innovation, business innovation activity, public policy
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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355
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