DEVELOPING INNOVATION: AN OVERVIEW ON THE BUSINESS ORGANIZATIONS IN ROMANIA VS PORTUGAL

Danilet Alexandra-Maria and Chifan Denisa-Alexandra
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Danilet Alexandra-Maria: STEFAN CEL MARE UNIVERSITY OF SUCEAVA, ROMANIA
Chifan Denisa-Alexandra: STEFAN CEL MARE UNIVERSITY OF SUCEAVA, ROMANIA, UNIVERSITY OF BEIRA INTERIOR, PORTUGAL

Annals - Economy Series, 2023, vol. 6, 184-193

Abstract: Innovation has a special place in the work of business organisations, regardless of their field of activity, size or market experience. Thus, whether we are looking at firms involved in the production of goods or the provision of services, innovation has become a buzzword that is not missing from corporate language or organisational processes. In fact, managers' concern for performance enhancement has led to the adoption and implementation of various innovative tools in certain aspects/activities in the companies they manage, tools that have a positive influence on competitiveness and organisational performance. Traditionally, innovation is approached through technical elements, and is usually associated with a new product, a new technology, which is easier to quantify/determine, as results can be observed more quickly. Business realities highlight that innovation also involves other elements that are part of a company's processes, playing at least as important a role as those strictly linked to new products/technologies, including process, organisational and marketing innovations. These contribute significantly to the way the firm streamlines its operations, improves certain processes, implements new techniques/tools that will facilitate a high level of performance. Therefore, there is a need for a broader approach to the types of innovations that are found in the work of business organisations and how they contribute beneficially to their economic progress.

Keywords: innovation; product innovation; process innovation; performance; competitivity (search for similar items in EconPapers)
Date: 2023
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