INNOVATIVE DEVELOPMENT AND STRATEGIC MANAGEMENT: GLOBAL LESSONS AND NATIONAL PRIORITIES

Abstract

In the context of globalization and rapid digital transformation, innovative development has become a decisive factor shaping the competitiveness and sustainable growth of national economies. Countries that successfully integrate innovation into their strategic management frameworks are able to maintain resilience, attract investment, and ensure long-term economic progress. However, many developing economies still face serious challenges that limit their innovative potential.

The purpose of this article is to identify the main issues of innovative development and to analyze possible directions for strengthening strategic management of the economy through the adoption of international best practices. The research highlights a number of persistent problems, including insufficient investment in research and development (R&D), weak cooperation between science and business, institutional barriers, and the outflow of qualified human capital. These issues create a gap between innovative potential and actual performance, slowing down the pace of transformation.

The methodological basis of the study is a comparative analysis of international experiences, focusing on the cases of South Korea, Israel, and Estonia, which have achieved remarkable results in fostering innovation-oriented growth. Their models demonstrate how state policy, private sector initiatives, and academic research can be effectively combined within a unified strategy.

The results of the study show that for countries such as Armenia, integrating innovation policy with strategies of digital transformation and green growth is essential for achieving sustainable competitiveness. The findings suggest that national priorities should be reoriented toward creating favorable conditions for R&D investment, strengthening innovation ecosystems, and enhancing strategic coordination between key stakeholders.