Page 44 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.70, # 1, 2013, pp. 23-45

and establishment of inter-realm relations. In the system of regional

entrepreneurship development strategy the main decisions are made based on

qualitative aspects.

In our opinion, during the process of regional entrepreneurship development

strategies following basic principles are applied in strategic innovation decision

making process:

- Consideration of entrepreneurship is self-established and organized open

social-economic system;

- Consideration of regional development strategy as well as strategic basic

activities;

- Formation of development system for entrepreneurship strategic innovation;

- Provision of flexibility of regional innovation strategy

- Provision of alternatives for selection of strategic innovation;

- Provision of continues utilization of the results of technological progress;

- Consideration of investment risks during innovation strategy related decision

making;

- Direction of innovation managers involved into the realization of innovation

programs to professionalism

- Provision of regional entrepreneurship development strategy prepared by

businesses by respective organizational structures.

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