The integrity of internal and external sources of innovation in a company as an essential competitiveness aspect

Abstract

The article contextualizes the external and internal sources of innovation in companies and defines innovative companies. It also emphasizes and individualizes the significance of the internal willingness to absorb and enforce the innovations. The process of building pro-innovative organizational culture as one of the most important internal elements of the company’s innovation is the basis of adaptation to the modern world and using the external conditions. The paper contains current information regarding the amount of financial resources acquired by companies from external funds. The aim of this paper is identification of internal and external sources of innovation and their use in the context of competitiveness. The purpose has been achieved by analyzing literature sources, evaluation of other authors’ research and case studies. The paper attempts to prove that only maintaining coherence among external conditions of surroundings and internal company’s resources might lead to its sustainable development and acquisition of competitive privileges. Authors claim that the integrity of internal and external sources of innovation stimulates the implementation of projects and the acceptance of the risks associated with it.

Keywords

• innovative companies
• external and internal sources of innovation in
• companies
• funding
• EU funds