Innovation and Innovativeness in Medium-Low Tech/Low-Tech Industries – Wood Industry

Abstract

In today’s modern business world, development of innovations and innovation activities is considered as a key driver of business success of an individual entity, specific industry sector, as well as the overall economy of a country. However, industries of low and/or medium-low technology, where wood industry belongs, are extremely important and they represent by far the largest part of the manufacturing sector in OECD countries. They show an excellent stability and employ a high share of the population. Wood industry, especially furniture industry, is a successful export-oriented European industry. Innovative companies and innovation as a result of innovativeness can be attached to a number of internal and external company factors. Therefore, the aim of this paper was to clarify the connection between concepts of innovation and innovativeness of certain internal and external company factors that have/could have an impact on company innovativeness and innovation development, and that have been established and researched in studies of a large number of scientists / authors.

Keywords

• wood industry
• innovation
• innovativeness
• medium-low tech/low-tech industry