INNOVATION - A EUROPEAN PRIORITY. ROMANIA'S CONDITION

Laura – Filofteia Panoiu ()
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Laura – Filofteia Panoiu: ”Constantin Brâncoveanu” University of Pitesti, Romania

Contemporary Economy Journal, 2018, vol. 3, issue 3, 40-47

Abstract: Each country’s development is ensured by thepresence of some more or less significant entrepreneurs who can successfullycope with the competitive environment they operate in. In today’s highlydynamic and increasingly global economy, it is important for an entrepreneur tocreate competitive advantages not only by working on prices, but also bycreating particular elements such as quality or innovation. Innovation is anoften debated upon topic at micro- or macroeconomic, national, European orglobal levels, as supporting the process is a solution for increasing theprofitability level of companies and ensuring the sustainable development ofeconomies. Phenomena such as the globalization of markets, increasing competition,increasing the migration phenomenon, increasing unemployment, companies’ andalso countries’ orientation to research and development are elements that havecreated new conditions for the manifestation of innovation, and also newarguments that generate the increase of amounts allocated to the innovationprocess. This paper is an exploratory research based on the qualitative method,by consulting various sources of information: specialized literature, casestudies, media articles, reports of some related organizations, etc., aiming tohighlight the stage of the innovation process in the EU member countries andRomania’s role in the innovation process.

Keywords: innovation; economic development; competitive advantage; research-development (search for similar items in EconPapers)
JEL-codes: O30 O38 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:3:y:2018:i:3:p:40-47

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