Innovation activity problems in the competitive market
requireall kind of resources (energy, time, finance etc.). Innovation implementation
process also require resources, from which the most important are investment and
time. It is important for each entrepreneur to know what the risks of innovation are and
how the innovations can be assessed. The article describes the essence of innovation and
its importance to competitive ability. Objective of this article is to substantiate the process
of innovation in the Lithuanian trade companies.
After the research we can tell that most of the respondents are interested in innovation
process, but the most important problem is that not every body knows how the risk
of innovation process can be calculated. Most of the respondents believe that innovation
process expands the competitive ability of the enterprise, but the less of the respondents
feel confident of working in this field
Article in: English
Published on-line: 2008-06-10
Keyword(s): Innovation, investment, innovation process, competitive ability
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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355
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