DOI: https://doi.org/10.36719/2789-6919/51/52-56
Ismayil Sharifli
Baku Business University
https://orcid.org/0000-0003-3036-0704
Ismayilsharifli@gmail.com
Innovation Management in Mechanical Engineering and its Application Features
Abstract
This paper examines the role, theoretical foundations, management models, and application characteristics of innovation management in the machine-building industry. The study establishes that innovation management serves as a core strategic mechanism enhancing industrial efficiency and competitiveness. The paper analyzes the applicability of closed, open, and hybrid innovation models within the machine-building sector and systematically outlines the innovation process – from idea generation to commercialization. Within the Azerbaijani context, state initiatives under the Azerbaijan 2030 and Digital Azerbaijan 2025 strategies, along with modernization practices in enterprises such as Sumgayit Technological Park and the Oil Machinery Plant, are highlighted as examples of industrial transformation. Internationally, successful innovation management practices in Germany, Japan, and South Korea are reviewed to draw comparative insights. The findings reveal that strengthening cooperation between research institutions and industry, improving technology transfer mechanisms, and developing engineering human capital are crucial for enhancing innovation management efficiency in Azerbaijan’s machine-building industry. The paper concludes that innovation-oriented management plays a vital strategic role in ensuring sustainable industrial development and advancing the country’s transition toward a knowledge-based economy.
Keywords: innovation management, machine-building industry, digitalization, Industry 4.0, technology transfer, strategic management, competitiveness