The impact of cultural factors on the management of business innovations

Abstract

Global market expansion results in the free flow of capital, labour, and technology as well as 
cooperative problem-solving for innovation. Innovator nations now rely on open inventions for 
their economic and technical advancement. Transnational corporations today are distinguished by 
their high degree of coordination and cooperation in the field of innovations. They also focus on 
open (international) innovations, which are a significant source of both technological advancement 
and profit growth. 
Since the context of innovations is seldom taken into account, institutions, finances, management, 
personnel, technology, and the national and corporate cultures are seen to be the most significant 
topics of the innovation process in Georgia. This is driven by the fact that inventions' technical 
components are valued more highly than their humanitarian aspects. The research and analysis of 
multicultural aspects of innovations are becoming more crucial in the context of markets, fields, 
and globalisation of inventions.