INNOVATION AS A COMPETITIVE ADVANTAGE IN MANAGEMENT

Abstract

Innovation in management can be defined as a set of activities undertaken by the organization, and are a source for new products or production processes. The development of enterprises and organizations are mainly related to the existence of innovation. Innovation is the commercialization of new ideas or converting it into a specific product, process or service, as well as of competitive advantages in management. Contemporary business environment characterized by high volatility, uncertainty and risk to a company or organization to survive in such an environment, it is necessary to continually invest in research and development and innovation activities. Companies and organizations are trying to combine their existing resources and capabilities and to use them in the new, the best way possible. For those of their activity are derived and innovation are born innovative organization. Innovation is something that is related to the concept of the entrepreneur-manager who strives to always observe the changes, respond to them and accept a high level of risk, and uses it as an option in their operations. But in addition, large companies are precisely those that have the ability and the necessary financial resources to implement innovations.

Keywords

• innovation
• management
• organization
• company