Abstract: In this study, the researchers offer an analysis of the basic concepts of innovation management such as the innovation, innovation process, diffusion of innovations (the spread of innovation), commercialization and others. It should be noted that innovation management performs stage of preparation and implementation of innovative changes and consists of interconnected periods/phases, forming a single, integrated whole administrative impact on the overall efficiency and cost-effectiveness of commercial enterprises. Have kinds of innovations and their classification. In the study of innovation management features of great importance. Innovation management can be successful, provided long-term study of innovation that is necessary for their selection and use. Innovation, having such a feature as a long lag time from invention to implementation of the commodity markets, will be successful in the implementation of the individual, it is inherent in innovation management-strategies. Actual competitive advantage of businesses on the product market depend on a number of general and specific factors but in spite of their diversity, it can be argued that the most important are the factors determining the conditions of administration (management) selection of commercial enterprise development strategy and particularly its implementation process.
Inna L. Litvinenko, Lira K. Gurieva, Olga N. Baburina, Marina A. Ugryumova and Valentina I. Kataeva (Sventa Yarvik), 2016. Tendencies and Features of Innovation Management in the Activities of Businesses. International Business Management, 10: 5397-5405.