A THEORETICAL APPROACH OF THE CONCEPT OF INNOVATION
A THEORETICAL APPROACH OF THE CONCEPT OF INNOVATION

Summary/Abstract: The definition of innovation has been an area of interest both for researchers and for different industries. It is considered that the way the innovation has been defined within an organization will further determine which activities will take place within the company and which will be outsourced. Scientists and different industries used a different approach from many perspectives regarding the definition of innovation, including radical or incremental changes in products, processes and markets. Defining innovation determines the degree and nature of innovation in a particular organization. Innovation, as a result of the innovation process is strongly influenced by how organizations define the concept of innovation. This fact highlights a number of critical implications for organizations and creates a new order for the management of innovation. In order to build an organization able to carry on its activity on long term, it is important to understand the key role of soft part (defining and measuring) of the organization within the innovation process. The innovation process is very complex and multidimensional since many factors interact to make possible the emergence of this process. Generally, organizations which dispose of the necessary resources, a strong motivation to innovate and an organizational climate that allows and encourages the emergence of innovative ideas, are exactly those which will innovate quickly and successfully. The ability to innovate is represented by the ability to continuously transform knowledge and ideas into new products, processes and systems, to the benefit of both the organization and the shareholders. This paper is intended to offer an analysis of the concept of innovation, considering it as sole alternative regarding the organizations’ survival and maintenance of competitiveness.

• Details
• Contents