Innovation in business as a competitive advantage

Abstract

The objective of this study is to increase the understanding of the concept of innovation in business as one of the most important ways of achieving competitive advantage. The global context of competitive business, with its changing environment, has accelerated the need for organizations to develop ideas, solutions, processes and products. Today, organizations remain committed to achieving defined goals of maximizing profits, being competitive and remaining sustainable in the market, innovation representing a necessary process of renewal in business, a generic activity associated with survival and growth. Innovation is at the heart of contemporary economic rhetoric in terms of developing and avcvhieving competitiveness. CZU:339.1:001.895:339.137.2