The role of innovation in increasing efficiency and competitiveness of enterprises

Janeta Weisz () and Andrei Schwartz ()
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Janeta Weisz: ”Dimitrie Cantemir” University of Timisoara
Andrei Schwartz: West University of Timisoara

Anale. Seria Stiinte Economice. Timisoara, 2012, vol. XVIII, 496-504

Abstract: Currently, there are almost no sectors, functions or elements of the economy which are not affected by qualitative changes related to the conditions of information society. The pivot of this society is knowledge, learning, intellectual capital and innovation. Moreover, the emergence of different initiatives to encourage "innovative practices" are, indeed, a new vision of how best practices may increase and upgrade our societies. It is obvious that the emergence of new forms of economy and social organization require the adoption and assimilation of new economic standards, but also the tools and technologies able to capitalize on opportunities created by knowledge economy. The main purpose of knowledge, learning, intellectual capital, innovation, research and development is the stimulation of operational, commercial and financial effectiveness and efficacy of companies. Its vision is: better and more, easier and faster, cheaper. Scientific research, innovation represents today the most important engine for the improvement of living conditions and, in general, the wealth of a society. It is equally true that a healthy economic, social and cultural development is not possible without a well structured learning system with high academic standards based on a vigorous scientific research. Research and development activity, aims for development or innovation of services, products and technologies, insuring an optimal compatibility between the outputs of planning these activities (objects, strategies, programs and budgets) and the outputs of planning business portfolios and business strategies, as the outputs of the operational planning of the research-development activity (projects and budgets).

Keywords: research; development; efficiency; effectiveness; innovation (search for similar items in EconPapers)
JEL-codes: O14 O32 O47 (search for similar items in EconPapers)
Date: 2012
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