Abstract
In business environment that changes rapidly, innovation becomes a precondition for success and even the survival of some organization. Therefore, innovation finds the way and takes most important place in many organizations throughout the world. Innovation brings development and growth of a company, creation of opportunities in new markets and, at the same time, injects new life to mature industries. Aware of this fact, many organizations aim at launching new products and services through continuous innovations and thus remain successful in the market. That is also followed by the requirement for changing the traditional way of doing business, which implies the increase of interest in mechanisms that are implied by modern management principles, such as knowledge management and innovation processes. The purpose of the paper presented consisted in studying and identifying the extent to which the processes of innovation are applied in Serbian public enterprises.
Highlights
As business world becomes increasingly complex and competitive, many companies turn to innovation as one of the relevant and permanent sources of competitive advantage
In accordance with theoretical framework about significance of innovation processes in modern business and having in mind current position of public enterprises in Serbia in their business environment, the goal of the research was to examine to what extent is the attention in these companies paid in application of modern management tools
Literature suggests that processes of innovations today represent a significant factor of some organization, and as such they find their place in basic principles of modern business, regardless of the size or activity of organization
Summary
As business world becomes increasingly complex and competitive, many companies turn to innovation as one of the relevant and permanent sources of competitive advantage. Regardless of their size, are actively involved in the search for finding the ways to be more innovative. While some companies have well-defined and developed processes of production and service providing, the others are mastering the creation and management of the ideas related to innovation. The necessity of innovation is largely accepted and most leaders know that being successful in a longer period of time implies the development of innovative processes within the organization. We can find many types of innovations, which is a consequence of different ways of determining their distinctions. Most frequently cited distinction is between innovations of products and processes
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