The Importance and Relevance of an Innovative Approach to Management Decision-Making Processes

Abstract

It is not possible to imagine the modern world without the product of innovation and the new evolutionary development that they bring. Many researchers believe that innovation is now the driving force behind economic and social development. In this regard, the main objective of this research is to identify the factors based on the use of international experience that shape the economic model of innovative development, and make recommendations for the economy of Uzbekistan, to ensure the timely and high-quality performance of certain types of human society, and also study of the affective impact of high technologies as a solution and consumption on management decisions, to critically assess existing problems, to make scientific predictions for prospects. This is because the macroeconomic indicators of many leading countries in the field of innovation development, the effective functioning of financial networks, the quality and level of living of the population are inextricably linked to innovative decisions.

Keywords: Management, innovations, technologies, processes, countries' development, forms of innovation, nanotechnologies, decision-making, and alternative

DOI: 10.7176/EJBM/13-4-08

Publication date: February 28^th 2021