A Comparative Analysis of Innovation in Industrial Companies in Bulgaria and in the EU

The present research interprets innovative analysis as concentrating on the characteristics of industrial companies and their business environment which influence innovation and its results. The research focuses on industrial companies in Bulgaria and the developed countries of the European Union, as well as their general and specific environment.Initially the paper outlines the characteristics of the EU policy targeted to provide incentives for new ideas and put the innovative theory into practice, i.e. achieve its successful marketing. The research is based on a range of documents generated in certain European institutions. The goal of the research is to determine the political attitudes posing new requirements for Bulgarian industrial companies wishing to preserve or create a competitive advantage during the process of accession to the EU.In comparative perspective, the paper looks at the general and the specific environment typical for the operations of the industrial companies in the developed countries of the EU and their Bulgarian counterparts. The findings of the research aim at deducing and comparing the tasks to be addressed by the management of these businesses. These tasks are differentiated by areas: markets, marketing, production and innovations.Innovation in Bulgarian industrial companies has been analyzed in the following fields: technological standards, innovation activity, partnership in innovation, innovation funding and innovation barriers. The findings of the analysis have enabled us to draw a list of challenges facing the management with regard to innovation in the process of integration with the European Union. Recommendations for the management have been formulated in the following areas: strategic management, innovation planning, innovation process organization and implementation of innovative projects.