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Knowledge as a key factor in the development of innovation of enterprisesModern world economy is called knowledge-based economy. The basis of its dev

Summary/Abstract: Modern world economy is called knowledge-based economy. The basis of its development has become modern technology, scientific and technological progress and innovation. Knowledge is important for economic development and social welfare, determines the competitiveness of enterprises. Being competitive for companies means the ability to continuous innovation, improving manufacturing processes, product quality, meeting the needs of customers. The purpose of this article is to present a theoretical approach to the importance of knowledge and its management in improving innovation of enterprises.

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