Framework for assessing innovation capacity and business efficiency in Romanian SMEs

Onea Ioana Alexandra ()
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Onea Ioana Alexandra: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2021, vol. 15, issue 1, 1083-1095

Abstract: The purpose of this paper is to provide a new framework for assessing the innovation capacity and efficiency in Romanian small enterprises and start-ups. In this sense, a systematic literature review has been employed in order to obtain a clear understanding of the existing knowledge and to critically evaluate the existing solutions. In addition, considering the European Union objectives regarding innovation and sustainable development, this paper investigates the present situation of Romania by interpreting the official European Commission reports and current research papers. Considering the importance of regional innovation advancement and that of creating economic growth through competitiveness, this paper scrutinizes several concepts from the scientific literature, including regional innovation governance, entrepreneurship and innovation efficiency with the final purpose of developing a framework applicable for Romania. Taking into consideration the relatively low scores of Romanian regions regarding innovativeness and technological advancement, this paper attempts to provide a clearer understanding of the applicable factors that can be used for measuring innovation performance. The proposed framework focuses on the importance of entrepreneurship and the development of new business models in order to efficiently assess the innovative endeavors of enterprises. All things considered, this paper provides both theoretical and managerial contributions and possibility for further investigations addressed at specific Romanian regions and business sectors.

Keywords: innovation indicators; entrepreneurship; business efficiency; small and medium enterprises; startups (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:15:y:2021:i:1:p:1083-1095:n:36

DOI: 10.2478/picbe-2021-0102

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