Innovations introduction as a base for building a competitive business

M. Kuptsov

Journal of Modern Competition, 2007, issue 5, 85-92

Abstract: Many countries of the world faced economic changes in the end of the previous and the beginning of this century. The very business competition base has changed. Now the innovations form the competition base in all economic spheres. As the research is absolutely necessary to compete on the modern market, the businesses that are innovation-oriented when competing at the market should invest into the technology, marketing, HR, etc. research. The companies gain the dominant position on the market because of the innovations introduced and they keep the position as long as there are no other innovation-oriented competitors. The innovations are necessary for the modern market as they serve as a protective device against the aggressive new competitors.

Date: 2007
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