Factor scoring the total potential of a region as a tool for strategically managing innovation in its socio-economic development

The total potential of a region is the generalizing quantitative and qualitative characteristic of the presence and use of all types of resources available to the region for its innovative economic and social development. Assessing the total potential is an important part of strategic management. This is used when coming up with strategies for the long-term development of a region. This paper shows the interrelation between factor scoring the total potential of a region and choosing a plan for its socio-economic growth. Research data on growth factors for Russian cities with a population under 500,000 people were used as the base of evidence. Studies in the region were carried out in order to improve the innovation environment and determine the "problem area" in its socio-economic growth. The research was based on the use of the main methodology approach for assessing the potential, problems and possibilities, risks of a region's development, without reference to the goals and objectives of its development. Studying the growth trends of the region's potential as a generalizing characteristic for the level of economic growth and as a basis for strategic innovation management was done based on the dynamic analysis of statistical data and factor scoring the potential of a region. Our research shows that all factors positively correlate with one another and can influence the management decision for choosing a plan for the socio-economic development of any territory. The studies show that factor scoring the total potential of a region can be used as a tool for the strategic management of innovations in its socio-economic growth.