Conference Proceedings

Abstract

The transformation of socio-economic relations due to the rapid development of digital technologies, the exposure to social and environmental problems, and the change in market behavior models lead to the need to design organizational processes based on continuous changes. Under these conditions, social relationships, effective models of cooperation, as well as the availability of resources become the most significant for the development of the innovative activity. This study aims to develop a model of the innovation process based on the concept of a sharing economy. The information base of this study was scientific sources presented in the Scopus database, revealing approaches to innovative development and the formation of the concept of a sharing economy. The research procedure included analysis of models of the innovation process, substantiation of the potential for using the sharing economy in increasing the efficiency of resource use, directly demonstrating the proposed model, as well as the potential for its use. The proposed innovation process model is based on the principles of cooperation, peer-to-peer relationships, and the potential of using blockchain technology. The innovation process model also considers the current formal and informal environment that determines all stages of the reproduction process. In addition, using the eEPC process modeling notation, we developed an algorithm that allows us to decide on the appropriateness of applying this model. This algorithm takes into account the type of activity, as well as the specificity of the required assets. The results obtained make it possible to expand the provisions of the innovation theory, taking into account the transformation of the resource consumption model. We believe that the proposed application model will unlock the sharing economy's potential to drive innovation and serve as a driver for developing a circular economy that can also use this model.