INNOVATIVE ECONOMICS AND MANAGEMENT

1-10

Authors: RAMIN TSINARIDZE, NINO MZHAVANADZE

Business has the greatest place in the modern world, because the world economy is exactly stand on business. It is logical, that business has become not only an important and indispensable source of prosperity and economic development, but also the subject of study, which is characterized by progress, difficulties and constant innovations. The main purpose of the study is to Identify and analyze the regional aspects of business development, competitiveness and existing potential, industry features and operating factors, overview of business sector development trends in the Autonomous Republic of Adjara. The research topic is valuable and interesting in the sense that, both the country and the Autonomous Republic of Adjara are still in the process of developing the private sector, business is still undergoing constant change and is at a certain stage of dynamics (E.g. legislative changes, global competition, technological backwardness, etc.). Therefore, the issue is actually and important. Autonomous Republic of Adjara is one of the favorable environment for starting a business, there are clearly identified the advantages of doing business. Business development trends and the current situation in the region allow for greater interest and attention to attracting prominent investments and economic development of the region. Although a number of issues related to the current business environment and current economic processes in the Adjara region are quite well researched, however it has not yet been fully studied. Accordingly, the articles reviewed in the bibliography provide an opportunity to review the general business environment of the Autonomous Republic of Adjara, identify some problems and trends. Were used Qualitative, quantitative and statistical methods in this study. For data accuracy, were also used collective and comparative methods. Relevant conclusions and recommendations are developed at the end of this study.

19-24

Authors: IRMA CHKHAIDZE

Introduction. In terms of modern market economy, the creation of ,,public welfare” is stipulated with both state – by creating the ,,common public welfare” and business sector – by creating an ,,individual welfare”, which is based on the creation of the ,,personal welfare” and it envisages to gain and maintain the market competiveness on the one hand and to get maximal profit on the basis of creation of ,,non-contradictory welfare” for the public on the other hand. The main goal of the study is to be analyzed the advantages of ,,individual welfare”, created on the basis of merging the well-grounded and innovative knowledge in the companies. The research topic is valuable and interesting in term of that, by providing the ,,well-grounded knowledge”, companies are given an opportunity to take part in the ,,game” and to ensure the competitiveness on the one hand and on the other hand, to create an important barrier in the company with the same level of development or with the same degree of knowledge as his competitors, what can reveal the competitiveness of the company. And ,,innovative knowledge” gives the companies an opportunity to change the ,,rules of games”, what ensures their leadership on the market. During the studying process, it`s been used the methods of analysis and synthesis, comparative method, qualitative method. Proper conclusions and recommendations have been worked out on the basis of using the research methods.

37-45

Authors: LAMARA QOQIAURI

The work explores the core purpose of the innovation ecosystem, its role in enhancing the competitiveness of national and regional economies. The key parameters of the innovative ecosystem are discussed here, and the baseline conditions for creating a local innovation ecosystem. The article presents the most pressing problem today- the process of creating and commercializing innovations, research in terms of resource allocation, technology development and commercialization. The creation of conditions for sustainable economic development in the twenty-first century is linked to the establishment of an innovative ecosystem. It characterizes the modern model of innovative development of the region or the country's economy and is a current version of the earlier concept, in particular, the theory of the national innovative system. The basis of the functioning of the innovative ecosystem is the interdependence between capital and economic resources, economic entities, the goal of which is technological and innovative development. Economic resources in this case include both material resources and human capital. It should also be noted that the innovative ecosystem is essentially a combination of two different systems: scientific research and commercial. At present, it is important to increase the share of the commercial sector in the total volume of investments in scientific research and processing.

51-67

Authors: EKATERINE GULUA

Trends caused by global processes and changes, along with new opportunities for management, create the need to envisage the challenges that arise. The paper discusses the main paradigms of human resource management, current global trends and challenges; It is quite difficult to predict the future in the context of the global pandemic caused by the spread of Covid 19, although it is clear that the only way for many companies to survive is to digitalize processes. The current chaotic environment from human resource managers requires to adapt quickly to new challenges, such as: working with employees online, managing processes online, new control mechanisms, dealing with employee dismissal, retention, and selection needs; Decoding such talents as adaptability, lateral thinking, and agility based on virtual relationships in humans. This is a time when it is especially valuable to have knowledgeable and adaptable staff. As never before, the implementation of proportional incentive mechanisms of contribution to the results of the organization is actual. The paper examines the situation in Georgia from the perspective of global indicators, as well as priorities and orientations, the consideration of which will play an important role in the competitive operating of business organizations.