THE IMPACT OF THE INNOVATIVE ACTIVITY ON THE DEVELOPMENT OF THE BUSINESS ORGANIZATIONS

Abstract

The purpose of each business organization is to make profit by leveraging its advantages, so most of them focus on the activities which ensure the future development. The growth strategies of the big companies should be established around the research & development activity which grounds the possibilities of increasing the competitiveness. These companies invest annually huge amounts of money in order to discover new products, new ways of doing business and to meet the challenges of the competition. Innovation has become the common goal of all economic entities, being the way for a company to achieve something, either we refer to a product or to a service or even a process, compared with what is already on the market or in society. In this context it is essential to analyze the performance of the innovative activity and the manner in which its results will be reflected on the development of the business organizations.