The economic essence of trajectories of innovation processes

The paper presents the review of modern approaches to such terms as “innovation”, “management innovation”, “innovation management”. Their essence and peculiar features in the context of a modern market situation are revealed. The authors assume that under current conditions in the management practice it’s rational to introduce innovations into the company’s economic activity step by step. On the basis of this suggestion the notions “step of innovation process” and “trajectory of innovation process” are introduced. This approach enables one in the end to ensure more efficient introduction of innovations into the economic activity due to discrete characteristics of the innovation process.