Innovation and organizational structure as the engine of companies' competitiveness in the global economy
Year: 2024
Type: article
Abstract: Innovation and organizational structure are important factors for a company's success in the global economy. Innovations can take various forms, from small changes in products to entirely new offerings. Companies are also seeking ways to improve their operations and comply with regulations and standards. Companies must innovate to create value and adapt to changing market conditions. After the global financial crisis, companies around the world began to refocus on innovation. In 2012, 76% of companies considered innovation one of their top three strategic priorities. Developing countries saw the largest increase in innovation investments. Companies are adopting a variety of approaches to foster innovation. These include involving customers in the innovation process, conducting exploratory research, and developing new products. Companies are also looking for ways to optimize their research and development spending. Innovation is essential for companies to achieve their goals and improve their competitiveness. Companies that are able to successfully innovate will be better positioned to succeed in the global economy.
Source: Vector European
Authors: Andrian Ulinici, Serghei Coreachin
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: gold
OpenAlex ID: W4405228799