THE WAYS TO IMPROVE THE EFFICIENCY OF INNOVATION ACTIVITY BY MULTINATIONAL CORPORATIONS
Abstract
The main ways of innovative activity by multinational corporations are defined and described in the article. The comparative analysis of possible ways to innovate is done according to the following criteria: time, risks, financial expenses. The countries and the industries of multinational corporations with the highest R&D expenditures are identified. It was found out that multinational corporations of Switzerland, the United States, the Netherlands and the United Kingdom are the most innovative and cooperate with startups. The model according to which these corporations innovate with the creation of research centers is described. The differences between the American and Asian models of setting up research centers were analyzed. It was found out that setting up research structures to conduct research and apply development according to market needs is a long process and requires additional money and time. It is concluded that this method of innovating by setting up research units requires a lot of money and provides the possibility of "digital breakthrough" only in the long run. Collaboration of multinational corporations with startups has been found to be medium-term and will help reduce risks and financial costs compared to R&D. Collaboration with startups with possible merge has been proven to be a more attractive way to innovate for corporations. The experience how multinational corporations collaborating with startups is analyzed. It has been found that most corporations choose the way to deal with startups, so 262 companies out of the 500 largest companies according to Forbes Global 2000 are dealing with startups. The share of corporations working with startups by the countries of the world has been investigated. How multinational corporations collaborating with startups by industry is analyzed. It was investigated that almost all corporations active in the telecommunications services, pharmaceuticals and beverage industries are engaging with startups. It was revealed that the more actively the corporation cooperates with startups, the higher its position in the ranking of Forbes Global 500.
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