Management Theory and Studies for Rural Business and Infrastructure Development, Volume 36, Number 3

Innovation diffusion as a catalyst for industrial company’s economic growth

Elena Efimova, Natalia Kuznetsova, Julius Ramanauskas


The goal of the paper concerns essential issue of economic growth diffusion and innovation diffusion in the context of its spatial dissemination forming framework of the electro technical industry of Russia and the Netherlands main actors micro-level growth comparison. Comparison of two companies economic growth and innovation diffusion proves that Russian high-tech LOMO4 having inormous innnovation portfolio but lack of financial capital could proceed only organic growth and hierarchical innovation diffusion compared to financial and innovational world giant Philips which shows growth scenario of organic and inorganic growth assimilation that implies hierarchical innovation diffusion priority and higher competitiveness than LOMO.

JEL codes: D22, L63, O00, O31.

Keyword(s): diffusion of economic growth, innovation diffusion, innovative development, organic/ inorganic growth

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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355

This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.