Abstract
The purpose of this paper is to foster realistic reflections on the importance of stimulating research and development activities within national enterprises employing over 250 employees, based on the experience of prominent individuals, members of the top management team within these enterprises. Within research of the growth of Croatian enterprises and thereby the national economy, one of the questions that should be asked is: "Does the implementation of innovations ensure the growth of Croatian enterprises and thus the economy?" This question arises from the existing structure of Croatian enterprises in terms of their distribution according to economic activity and concentration of the employees. In fact, both of these parameters are not favourable for economic growth. The research results, based on 67 validly completed questionnaires, generally indicate that business experience is gained over a longer period of time. Therefore, the impact of research and development and thus eventually innovation may result from incremental processes.
Highlights
Economic growth is a long-term process having, among other features, the following characteristics: dynamism, complexity and risk of top management decisions, non-linearity of business results and stable political environment
Within research of the growth of Croatian enterprises and thereby the national economy, one of the questions that should be asked is: "Does the implementation of innovations ensure the growth of Croatian enterprises and the economy?" This question arises from the existing structure of Croatian enterprises in terms of their distribution according to economic activity and concentration of the employees
The desk research for the purpose of this study evolved around browsing through the literature in which the focus of lamentation was on the impacts of innovation on enterprise growth
Summary
Economic growth is a long-term process having, among other features, the following characteristics: dynamism, complexity and risk of top management decisions, non-linearity of business results and stable political environment. Economic growth of a country is the result of actions agreed upon by the government and the central bank. This is manifested in the coherence of macroeconomic policies and efficient business operations of enterprises in domestic and foreign markets. Economic growth is the result of reflection and execution of political and business decisions in specific circumstances. Marx in the 19th century and J.A. Schumpeter in the eve of World War II significantly contributed to the reflections on the impact of innovation and technology onto the economic growth. Keynes in the 1930s and 1940s emphasized the due respect that political authorities paid to processes of creating conditions ensuring economic growth
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