ORGANIZATION OF INNOVATIVE ACTIVITY: REVIEW OF INNOVATIVE ACTIVITY AND PRACTICAL APPROACH

The paper is devoted to the issue of innovative activity, which is relevant as the main
instrument of the enterprise competitiveness in the turbulent time of contemporary unstable
market conditions. The analysis of various interpretations and regulatory documents defining
the terminology database is given. The overview and history of the development of the
innovation process models is provided. The authors also consider practical approaches to
innovation in some domestic and foreign engineering companies.