Key attributes of successful innovation strategy in the global market

Abstract

Research background: At the current global market environment, innovations are perceived as a driving force of economic development and a basic prerequisite for competitiveness. Worldwide-level discussions are related to topics regarding knowledge-based economy development, financing and innovation management mechanisms, research and development support, international cooperation, all supporting the fact that innovations are a significant prerequisite to fulfil goals of sustainable development of the society Purpose of the article: The primary goal of the paper is to define the key dimensions of a successful innovation strategy ensuring competitiveness and growth in a global market. These are reference characteristics enabling comprehensive consideration of the conditions of the external and internal environment in which the innovation strategy will be formed and implemented. The issues in question determinants will be investigated and evaluated at theoretical level, then practical, scientific and application approach as well as management aspect. Methods: Ambition of the authors is to use theoretical knowledge, results of systematic research, experience and publication activity outputs to create an informative scientific platform dedicated to elimination of “white areas” in the field of innovation strategies (innovation management) with possibility of implementation in company practice. There was apply several suitable methods of scientific research (formal logics methods: analysis, synthesis, deduction, induction, comparison, abstraction). Findings & Value added: There is a potential for paper and research outputs to be applied in management practice at the level of national or global market.

Keywords

• innovation strategy
• innovations
• global market