Management aspects of ensuring competitiveness of innovative enterprises

Abstract

The global knowledge-based economy is driven by innovation which is the leading force of competitiveness, growth, and profitability. The rapid changes in the requirements of consumer needs, as well as those in the technological field are drivers for disruptive and incremental innovations, which can be considered as new or improved products, processes, technologies, and managerial decisions (or a combination thereof), that have been introduced on the market or brought into use by the firm. The paper aims to systematize the key elements and factors that influence the competitiveness of innovation-active enterprises. According to international statistical guidelines and recommendations, an innovation-active firm can be defined as a company that is engaged in one or more activities to develop or implement new or improved products or business processes for an intended use. Based on a literature review, the definition of the competitiveness of an innovation-active firm as an economic category is proposed, as well as the main dimensions and prerequisites for effective management of competitive capacity of innovation-active enterprises are highlighted, that should be primarily taken into account from a management decision-making viewpoint to embed the innovation development principles into business practice in order to improve the organizational performance and strengthen the competitiveness of a company in a fast-changing business environment. As a result of the study, through an integrated approach a descriptive overview of the key components of an innovation-active firms competitive capacity is presented, namely the innovation, the organizational, the managerial, the information, and the marketing capacity.