The Importance of Creative and Innovative Small and Medium Enterprises in Overcoming of Crisis in Terms of Modern Business

Natasa Bogavac-Cvetkovic and Milosav Milickovic

Ekonomika, Journal for Economic Theory and Practice and Social Issues, 2016, vol. 62, issue 2

Abstract: Creativity and innovations have become the true national wealth of the modern era. Future of the World which we operate in will be based on a completely new concept, so- called “innovation economy”. In order to sustain the existence, growth and development in the times of crisis, it is imposed as necessary that small and medium-sized enterprises use intellectual and creative resources not only in developed butalso in developing countries. The twenty-first century economies will be able to overcome crisis and progress if they accept creativity and innovations in accordance with changes. In the aforementioned processes, special emphasis is put on entrepreneurial creativity and innovations as elements of development policy and strategy of national economies.

Keywords: Institutional; and; Behavioral; Economics (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sereko:288851

DOI: 10.22004/ag.econ.288851

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