Innovation Strategies in European Developing Countries
The main aim of this study was to determinate key factors of innovation strategies choice for global competitiveness. The starting hypothesis was that innovation performance correlating with national competitiveness of European developing countries. Meta data from European Innovation Scoreboard in period 2011–2016 and Global Competitiveness Report have been used in this study. Research methodology consisted of comparative method and relevant statistical methods. The findings revealed the main factors of better innovation performances that caused higher ranking according to Global Competitiveness Index. The limitations and future research avenues are presented too.
KeywordsInnovation Strategy Competitiveness Innovation performance European developing countries
Key Words Definitions
In this survey, CIS definition of innovation has been used. CIS methodology defining innovation as new or significantly improved goods and/or the processes used to produce or supply all goods or services that the business has introduced, regardless of their origin.
The main aim of the strategy of innovation is to maximize organization’s innovative potential. To obtain and sustain competitive advantage, strategic managers should elaborate current and future innovation strategy.
“Ability of a firm or a nation to offer products and services that meet the quality standards of the local and world markets at prices that are competitive and provide adequate returns on the resources employed or consumed in producing them.”
The outcomes and the benefits generate by the process of innovation.
A developing countries, measuring by GDP per capita in Europe are Albania, Belarus, Croatia, Moldova, Montenegro, Serbia, Bosnia and Herzegovina, Macedonia, Russia, Turkey, and Ukraine.
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