Social aspects of the innovative capacity of companies

Due to the active development of the technological process, the issues of creating innovations become more urgent. Modern economic practice shows that private organizations make progress in the creation and development of innovative products. Despite the prospects of successful commercialization of the latter, there are the significant risks in and a high probability of innovative projects failing. Therefore, it is pivotal to find approaches that enhance the effectiveness of the innovation process for companies and reduce its risks. To this end, the study analyzes the main social aspects of the company’s innovative capacity that can help private companies assess their prospects for innovative technologies. The research presents the scientific and sociological understanding of innovations, their diffusion, innovation flows and innovative management. On that ground, social aspects of the company’s innovative capacity are highlighted and their assessment methods are proposed.