Innovation Potential of Private Enterprises in Northeast China Region

Abstract

The article is devoted to the study of the impact of innovation on private enterprises in the Northeast region of China. The author justifies the relevance and significance of the research topic. In order to revitalize the economy of Northeast China, it is necessary for local enterprises to improve the efficiency of their production, through independent reform and innovative development. However, as a major part of the market economy, private enterprises face many difficulties in the process of innovation. However, private enterprises, as the backbone of the market economy, face many difficulties in the implementation of innovative tasks and projects. They lack the intrinsic motivation of the three basic elements of innovation — entrepreneurship, corporate innovation culture and corporate innovation system. The Chinese government attaches great importance to the economic development of the Northeast region, implementing a set of government support measures aimed at the development of the region. Based on the systems theory and social learning theory of Albert Bandura, the enterprises in question should competently use corporate policies to increase the motivation of employees to implement innovation in production, and also use a fair corporate environment with minimal resistance and close attention of employees as a starting point to stimulate innovative behavior of employees, improve the effectiveness of individual and corporate innovation, and as a result, promote other cultures.