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Mechanisms of an Ubiquitous Power-Source in the Knowledge-based Economy: Innovation and Competitive Advantage in Companies

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  • Alina-Ramona Butnariu

    (“Ștefan cel Mare†University of Suceava)

Abstract

Innovation is seen as an impetus for the competitiveness of products and processes, a basic principle of organizations in the knowledge-based economy. Being globally present in (re)defining the vision of an organization, placing a new product on the market, academic research projects, public policies or transfer of new technologies, innovation is no longer just a matter of competitive advantage, but a matter of survival. The aim of current paper is to demonstrate the global spread of innovation by examination and comparison of a variety of innovation measurement scales issued during 2019, concluding that a significant number of states, including Finland, Germany, Sweden, Denmark and Luxembourg are ranked consistently among the most competitive and innovative countries. Given the very low values for countries such as Romania, we conclude that they can only learn from the examples of good practices regarding the financing of innovative projects and companies.

Suggested Citation

  • Alina-Ramona Butnariu, 2020. "Mechanisms of an Ubiquitous Power-Source in the Knowledge-based Economy: Innovation and Competitive Advantage in Companies," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 298-305, August.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:1:p:298-305
    as

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    References listed on IDEAS

    as
    1. Kenneth E. Knight, 1967. "A Descriptive Model of the Intra-Firm Innovation Process," The Journal of Business, University of Chicago Press, vol. 40, pages 478-478.
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    More about this item

    Keywords

    innovation; innovative company; competitive advantage; entrepreneurship; start-up;
    All these keywords.

    JEL classification:

    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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