Innovation as a necessary condition for exiting Serbian Republic from phase of slow growth

Abstract

Today, businesses have to be ready for the new era that demands more efficiently and more stimulating innovation management. Many studies have confirmed that companies that accept the challenge of innovation, are becoming more prestigious and successful in the market compared to its competitors. Enlargement of the European Union puts the need for Serbia to recognize innovation as a necessary condition for exit from phase of slow growth. The aim of this paper is to draw attention to the situation in Serbia regarding to innovation and economic efficiency of enterprises, and to point to possible prospects for the future.

Keywords

• innovation
• efficiency
• learning and development
• enterprise resource