This article provides a comprehensive understanding of the theoretical aspects of strategic innovation management in a business entity, the development and implementation of innovative strategies necessary to ensure the company's growth and increase its competitiveness. Also, the views of several scientists on the concept of strategic innovation and the degree of impact of innovation on creating new value are considered. In addition, the classification scheme of innovations within the framework of the Oslo manual was also analyzed
This article analyses the theoretical and practical foundations of introducing advanced foreign experiences in the process of human capital development in Uzbekistan. Global reforms, internal problems of Uzbekistan and state policy on their solution are analysed. Factors affecting human capital are divided into groups on education, health, labour market, innovation and institutional development, and are illustrated with quotes. The methodology describes the methods for calculating the Human Capital Index (HCI) and Human Development Index (HDI), international and national databases. The results and analysis section compares Uzbekistan’s HCI and HDI indicators with those of foreign countries. The discussion section provides ways to adapt foreign experiences to the conditions of Uzbekistan.
This paper examines the emergence and development of the venture capital (VC) ecosystem in Uzbekistan, a transition economy in Central Asia striving to foster innovation and high-growth entrepreneurship. Drawing on theoretical frameworks related to innovation finance and entrepreneurial ecosystems, the study explores the current landscape of VC activity in Uzbekistan, identifies key structural challenges such as limited exit opportunities, low financial literacy, commercialization barriers, and legal-regulatory gaps and assesses the effectiveness of recent policy initiatives. The analysis integrates insights from the 2024 KPMG report on Central Asia and supplements it with comparative lessons from international case studies, including Israel’s Yozma program, Singapore’s co-investment incentives, and South Korea’s fund-of-funds model. The paper proposes a set of phased policy recommendations to strengthen the VC ecosystem, including legal reforms, investor tax incentives, co-investment mechanisms, and capacity-building initiatives. The findings suggest that while Uzbekistan’s VC sector is still nascent, targeted policy interventions can accelerate its evolution into a robust, globally integrated driver of innovation-led economic growth.
The development of information technology and growing competition in the hotel services market necessitate the active use of innovation in the activities of modern hotels. Innovation is now considered one of the important competitive advantages in the hospitality industry. Innovation in the hospitality industry can be defined as an innovation implemented in practice in the form of a new or improved product, process or method, created as a result of the introduction of new ideas and knowledge to better meet the needs of customers of the hotel enterprise. Hospitality technology innovation refers to new and improved methods and tools used in the hospitality industry to improve efficiency, convenience, and customer satisfaction
The role and importance of foreign investments in the development of the national economy and the increase in innovative activity are revealed in the article, the principles of investment attraction are considered and illuminated, and the role of investment in the country's export and import is also applied in the data analysis.
This study is devoted to analyzing the role and importance of the innovation project management system in improving the efficiency of industrial enterprises. The essence of the innovation project management system is revealed through the features of functioning under uncertainty and creative environments in modern industry. A comparative analysis of the duration, risk level, and expected outcomes of each type of innovation is presented. The research results prove the strategic role of the innovation project management system in ensuring long-term economic growth by increasing the competitiveness of industrial enterprises, entering new markets, improving productivity, and reducing costs. The study concludes that, under modern globalization, the ability to professionally manage innovation projects is a vital necessity for industrial enterprises.
Creativity and innovation are increasingly being mentioned as key skills for success in work and life all over the world today. Innovation is a decisive force for the organization’s activities and survival in the market. This article is devoted to the theoretical coverage of the topic of ensuring the unity of innovation and creativity as a factor of economic development.
This article describes the application of digital transformation in industry, and the main issues in the organization of digital transformation processes in enterprises. The purpose of this study is to identify the main problems and opportunities in the organization of digital transformation processes in the industry based on statistical analysis methods. While writing the article, scientific and practical methods were used, such as the method of comparison, analysis, and synthesis, and statistical data for monitoring the main expenses of enterprises for the development of the digital environment. The main problems of digital transformation were analyzed, and several problems and obstacles of digital transformation were studied. Also, the article describes foreign experiences of the digital transformation process, its role in the economy, advantages and disadvantages, and solutions.
The article examines the importance of financial indicators in assessing the effectiveness of innovation and investment projects of industrial enterprises. It is emphasized that the growth and contribution of industrial enterprises to the market should not be the main indicators of their development. The article also emphasizes the importance of innovation for the economic and technological development of enterprises, as can be seen from the experience of foreign countries such as the United States. The role of universities in the innovative development of the industrial sector is emphasized, as well as the importance of commercializing innovative products and providing advanced technologies. The article also mentions the importance of modern production assets and the need for financial resources such as loans for the development of enterprises. Another important aspect is the training of workers, specialists and managers of industrial enterprises, including government funding of innovative projects, tax incentives, cooperation between science and industry. Support for innovation in small businesses and the creation of innovation infrastructure are also mentioned.
The legal and institutional foundations of small business development are critical for fostering entrepreneurship and economic growth. This topic explores the regulatory frameworks, property rights, and policy mechanisms that enable small enterprises to thrive, emphasizing the role of institutions in providing access to finance, market entry, and dispute resolution. Understanding these foundations helps identify strategies to reduce barriers, enhance innovation, and promote sustainable business ecosystems.
This article defines the conditions for the formation of a system for the development of innovations in industrial enterprises: recruitment of qualified personnel, study of the latest developments, protection of one’s own inventions, patent purity of manufactured products, assessment of the value of intangible assets and test marketing. In addition, enterprises are expected to cooperate with other market participants, due to the need to obtain new ideas, knowledge and qualified specialists. Such cooperation can be implemented within the framework of the well-known chain “science - personnel - production”.
Competition from the informal sector, including digital platforms, presents a significant challenge for formal companies. In response to this pressure, formal firms may introduce innovations that provide them with a competitive advantage. Using a probit model, this study examines the relationship between informal competitive pressure and the innovation activities of formal firms, based on enterprise survey data conducted by the World Bank in Uzbekistan in 2019. The results indicate that informal competition increases the likelihood of innovative activity in formal companies by 7 percentage points, holding other variables at an average level. Additionally, holding international certifications and membership in trade organizations increase the likelihood of innovation by 13.9% and 14.5%, respectively. Although informal competition has a significant positive effect on the adoption of innovative products/services, it may also have other implications; therefore, policy recommendations should consider measures to reduce the level of informality in the economy.
The article discusses the unique features of the innovative development of trade services for the population and the need for econometric modeling. There is no separation here to improve the organizational and economic mechanisms for the innovative development of the trade services sector or the general socio-economic patterns of the industry into types and groups, but the practical nature of the laws in force that give practical meaning to research, determine the priority and serve as a scientific criterion for evaluating results, highlight the consequences in the future , the importance of evaluating results.
The article analyzes the interpretations of foreign and Uzbek scholars regarding the application of innovations in the economy. It explores the characteristics of an innovative economy, indicators for determining the level of innovation within national economies, and the high degree of consistency between innovations, economic growth, and employment. The article provides information on the expansion of innovative forms of employment related to the development of information and communication technologies, including the growth of e-employment, virtual workplaces, and freelancing. The features of traditional and virtual workplaces are identified and comparatively analyzed.
The gap analysis of Uzbekistan's Science, Technology, and Innovation (STI) parks reveals several important areas that need focus and enhancement. The current performance of these parks reflects mixed outcomes in driving innovation and economic growth, facing considerable challenges in achieving effective collaboration among research institutions, industries, and government policies. The main findings show that although Uzbek STI parks have made progress in business incubation, they still fall short in fostering significant technological advancements and diversifying the economy. Key obstacles include inadequate collaboration between universities and industries, limited access to venture capital, and a weak entrepreneurial culture. The report highlights that successful STI parks thrive within a strong regional ecosystem, marked by a dynamic entrepreneurial spirit, active engagement from research institutions, and comprehensive support for startups. Creating these favorable conditions will be essential for Uzbekistan. Strategic suggestions involve strengthening the capabilities and engagement of STI park management, enhancing access to financial resources, and improving connections between universities and the private sector. The recommendations are categorized into those based on global best practices and those addressing the unique challenges faced by stakeholders in Uzbekistan's innovation system. By tackling these gaps with focused policy initiatives and capacity-building efforts, Uzbekistan can utilize its STI parks to foster greater technological innovation and economic development, in line with successful practices seen in other STI parks around the world.
This article carried out scientific and theoretical views of foreign and domestic scientists on the development of banking activities as a result of factors of formation of digital assets, improving the circulation of digital assets, scientific and theoretical analysis of data on the management of digital assets in commercial banks.
This article provides information on the main directions of development of the innovative economy in the region, the impact of higher education institutions, and analysis. Innovative activities of higher education institutions, various approaches to them, indicators of financing innovative activities are analyzed. Also, the principles and conditions of innovative development of higher education institutions were researched. Scientific conclusions and recommendations have been developed on further expansion of mutual relations between education, science and business, commercialization of innovative developments and scientific research results of higher educational institutions.
This article examines the outcomes of introducing a "Green Economy" in Uzbekistan, analyzing the economic, social, health, and population welfare indicators within the country. It includes a review of both foreign and domestic literature on the topic, assesses the prospects and opportunities for the development of a green economy, and addresses issues related to improving the efficiency of using renewable and non-renewable energy sources.
The article, based on an analysis of the currently existing definitions of the term “innovative activity,” formulates its own definition. It was taken as a basis, when proposing a method for assessing the innovative activity of an enterprise, by assessing the intensity of introduced innovations according to the degree of their novelty.
This article is considering expanding the scope of banking services of commercial banks operating in Uzbekistan. As part of the study, the author analyzed practical data from commercial banks. Based on the results obtained, existing problems in expanding the scope of banking services of commercial banks and developing proposals for their elimination were identified.
The increasing global focus on sustainable development has prompted a growing interest in understanding the roles of green innovation and digitization in fostering economic, environmental, and social sustainability, particularly within emerging economies like Uzbekistan.This study employs Structural Equation Modeling (SEM) to investigate the pivotal roles of green innovation and digitization in fostering sustainable development within the context of Uzbekistan, emblematic of challenges and opportunities for emerging economies. Through a comprehensive conceptual analysis, the research assesses the impact of these initiatives on economic growth, environmental conservation, and social equity. The findings reveal significant contributions of green innovation and digitization to sustainable development, manifested in heightened economic efficiency, reduced environmental degradation, and enhanced social well-being. Emphasizing the indispensability of institutional support, financial incentives, and stakeholder engagement, the study underscores the imperative for effective adoption and integration of sustainable practices and technologies.
This article provides information about the main directions of development of the innovative economy of the region, the role of higher educational institutions. The innovative activity of higher educational institutions, various approaches to it, and indicators of financing innovative activity are analyzed. The principles and conditions for innovative development of higher educational institutions were also studied. Scientific conclusions and recommendations have been developed for further expansion of the relationship between education, science and business, commercialization of innovative developments and results of scientific research in higher educational institutions.
This article analyzes the main problems in the housing and communal economy management system and the possibilities of their solution in the context of the green economy. Comprehensive information is provided about the practical importance of the green economy, its important role in maintaining environmental stability and increasing energy efficiency. The article also considers ways to improve the housing and communal economy by using international experience and implementing innovative management approaches. As a result of the research, effective ways of innovative development in the conditions of the green economy are recommended, and their positive impact on society and ecology is evaluated as a result of their use in the housing and communal economy.
This article analyzes the fact that innovation is becoming one of the most characteristic features of economic development and a factor that accelerates market development. Also, suggestions and recommendations are given that the rapid development of entrepreneurship can be achieved through the wide use of innovations in the modern world. The introduction of modern innovative technologies is a positive step for enterprises. Effective informatization of innovative technologies significantly increases macroeconomic indicators and socio-economic development processes of the enterprise, which leads to an increase in the quality and level of management decisions, the efficiency of information processes and services, which in turn improves socio-economic, scientific, technical, improves cultural and other indicators of life. The introduction of information in all processes and the development of modern digital technologies will have a positive effect on GDP growth. Digital technologies will significantly change the efficiency of the world economy. Global network, digital devices are drivers of economic growth. For this reason, their role in networks is of incomparable importance. The stages and importance of integration of digital technologies with socio-economic spheres are mentioned.
In this article, the experience of foreign countries in increasing the competitiveness of food industry enterprises, innovative news in food industry enterprises, reforms aimed at the development of food industry enterprises in nationalism, existing problems, scientific researches and their results, statistical analyzes and the implementation of innovative solutions are presented in this article. a number of issues are scientifically described.
