The Impact of Innovation on Organizational Effectiveness in the Context of Knowledge-Based Economy

Dina Maria Lut () and Alina Lazoc ()

Knowledge Horizons - Economics, 2014, vol. 6, issue 3, 156-159

Abstract: Of the three elements that form the so -called " knowledge triangle " of education, research, innovation, the third is the element with the greatest impact on welfare and also the most problematic in terms of the related policies. Innovation requires knowing the market trends and even anticipate them and at the same time requires quick reaction to change and flexibility for change. The basis for a viable innovation strategy is the combination of firms, participation in networks, alliances and collaborations to reduce costs ever higher of technology transfer. This paper aims to present some aspects related to innovation approaches in the knowledge-based economy and the mechanisms or elements of the innovation process in organizations. The paper also suggests a possible solution to promote innovation process in organizations through the clustering process, showing the advantages of this form of association for organizations.

Keywords: Knowledge-based economy; innovation process; organization; knowledge triangle; cluster (search for similar items in EconPapers)
JEL-codes: M21 (search for similar items in EconPapers)
Date: 2014
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