Definition
The meaning of Innovation in the new
economy based on knowledge is unexceptionable. Innovation
is considered today as the most important parameter
for development, in a national level as well as in the
business, while it tends to become a first priority
in all nations policies. The differences in competitiveness
and GDP observed among national economies may, in a
way, to be attributed in various levels of innovative
activity and development.
Innovation is defined as “the use of
a new knowledge in order to produce and provide a new
product or a new service that customers desire”. Innovation
may refer to a new product or service, their production
patterns or technology used, as well as an administrative
procedure or organizational structure (internally or
externally in relation to the customers or suppliers).
An Innovative action may be radical, or gradual (according
to the change rate in existed abilities of a business).
The factors examination effort that
contribute to the innovation activity development is
of high importance, due to the fact that attempts to
answer in two main questions: 1. The reason why economies
manage – compared to others – better performances in
innovation areas? 2. The reason why the intense of innovation
production is concentrated in small amount of countries
while scientific and technological knowledge is scattered.
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