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Technological Innovation Management and its Role in Performance of Organizations

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  • Laura-Diana Radu

    (Alexandru Ioan Cuza University, Romania)

Abstract

This paper aims to identify the main benefits of technological innovation in organizations and how it should be managed to ensure economic efficiency. The current level of social and economic evolution was possible only through active involvement of individuals and organizations in the innovative process. Adoption of appropriate policies and strategies at institutional, national and international level has significant impact on both the innovation process and innovation results. At company level, involvement in an innovative process depends on the financial and human resources and on the availability and interest of management and employees. The main motivating factor in adoption of technological innovation is, most often, obtaining financial benefits. This reflects itself either as a direct increase in profits, or by obtaining competitive advantage which leads, in the long run, to profits increase and achieving a favorable position on the market. Should not be neglected other motivating factors of innovation, such as compliance with environmental standards, ensuring a secure position on the market with opportunities for further expansion, reducing the cost of raw materials and / or production process, improving company image, attitude and achievements of partners in the field (competitors, suppliers, customers) etc. Managers need to carefully analyze these factors and decide the manner and degree of involvement in an innovative process.

Suggested Citation

  • Laura-Diana Radu, 2012. "Technological Innovation Management and its Role in Performance of Organizations," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 5(5), pages 95-103, October.
    • Handle: RePEc:dug:actaec:y:2012:i:5:p:95-103
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    References listed on IDEAS

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    1. Phillip Toner, 2011. "Workforce Skills and Innovation: An Overview of Major Themes in the Literature," OECD Science, Technology and Industry Working Papers 2011/1, OECD Publishing.
    2. Phillip Toner, 2011. "Workforce Skills and Innovation: An Overview of Major Themes in the Literature," OECD Education Working Papers 55, OECD Publishing.
    3. Catherine M. Banbury & Will Mitchell, 1995. "The effect of introducing important incremental innovations on market share and business survival," Strategic Management Journal, Wiley Blackwell, vol. 16(S1), pages 161-182.
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