Strategy of Managing Innovation Life Cycle as Tool of Sustainable Development of Organization

In economic theory issues dealing with researching and modeling product, technology and organization life cycle have been studied rather well. The goal of this investigation is to describe mechanisms of identifying economic effect of innovation product introduction and its impact on sustainable development of the system that consists of organization-producer and organization-customer. To do this, regulatory documents in this field were summarized and systematized and on the basis of the data the model aimed at identifying economic effect of innovation product introduction was elaborated with due regard to the life cycle cost. To provide visual proof the author shows a blockscheme of finding economic effect of innovation product use and demonstrates correlations on the base of which we can come to the conclusion about expediency of using the product and of sustainable development of the system being studied. As knowledge of the life cycle can be used in order to raise efficiency of work both by organizationcustomer and organization-producer, proposals were put forward concerning interaction between the two entities.