SUSTAINABILITY AND INNOVATION - PREREQUISITES FOR THE ECONOMIC DEVELOPMENT

Victoria Gherman ()
Additional contact information
Victoria Gherman: ”Constantin Brâncoveanu” University of Pitesti, Romania

Contemporary Economy Journal, 2018, vol. 3, issue 3, 179-184

Abstract: The company’s sustainability represents the results of investments in modern technology and diversification of activity that lead to productivity growth and increased turnover. Innovation is at the heart of every successful organization, an engine for economic growth and the promotor of company competitiveness. Innovation consists in creating or adapting a product or service and putting it on the market successfully. These will be possible by applying an organizational, managerial and commercial system in order to increase the economic competitiveness of the company. The company's development strategy to expand the customer network, the range of products and services will reduce the financial risks and increase the investment sustainability. Moreover, the development of a new range of products and a marketing strategy to increase the market share will create a favorable image of the company, thus contributing to competitiveness and long-term economic performance.

Keywords: sustainability; innovation; business; company; economic development (search for similar items in EconPapers)
JEL-codes: O3 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.revec.ro/papers/180321.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:brc:brccej:v:3:y:2018:i:3:p:179-184

Access Statistics for this article

More articles in Contemporary Economy Journal from Constantin Brancoveanu University
Bibliographic data for series maintained by Cristina GANESCU ().