COMPARATIVE ANALYSIS OF CRITICAL FACTORS IN MANAGING INNOVATION PROCESS: AN EXAMPLE OF ICT ENTREPRISES
DOI:
https://doi.org/10.24867/11GI08RaketicKeywords:
innovation strategy, challenges in managing innovation, innovation process, business development management.Abstract
In modern business, innovations are a source of competitive advantage. The ICT sector in the Republic of Serbia is the fastest growing sector and is characterized by numerous innovative companies. However, many of them face challenges when creating an innovation management strategy. In this paper, the emphasis is placed on the analysis of critical factors faced by the observed companies. Critical factors have emerged through the use of the INNOVATE tool to evaluate the innovation management process. The purpose of the application of this tool, in addition to reviewing the current situation in the management of innovation processes in the company, is to identify areas of improvement that would have a strategic impact on the business of the company. A comparative analysis of critical factors should form the basis of a general action plan to improve innovation management. This article can be useful for startups, SMEs, as a starting point for creating an innovation and enterprise management strategy.
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