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Mechanisms for the Creation of Innovation in Contemporary Business and Economy

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  • Slawomir Czarniewski

Abstract

Innovation differentiates the company from the competition, attracts new customers and generates revenue. The struggle for customers requires constant innovation, the result of which must be the creation of new value for customers. Innovation which provides new value for customers manifests itself in the form of new products, technologies, ideas and systems, reflected in satisfaction and customer loyalty. Innovation is considered a basis of business development, competition and growth. As a result of innovation, significant changes take place in the scope and manner of commissioning and using resources, leading to changes in the strategic position of the enterprise. The purpose of this article is to show the economic mechanisms for creating innovation in the field of the economy and business.

Suggested Citation

  • Slawomir Czarniewski, 2015. "Mechanisms for the Creation of Innovation in Contemporary Business and Economy," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 5(1), pages 33-38, January.
    • Handle: RePEc:hur:ijaraf:v:5:y:2015:i:1:p:33-38
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    References listed on IDEAS

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    1. Dovev Lavie & Pamela R. Haunschild & Poonam Khanna, 2012. "Organizational differences, relational mechanisms, and alliance performance," Strategic Management Journal, Wiley Blackwell, vol. 33(13), pages 1453-1479, December.
    2. Chaney, Paul K & Devinney, Timothy M & Winer, Russell S, 1991. "The Impact of New Product Introductions on the Market Value of Firms," The Journal of Business, University of Chicago Press, vol. 64(4), pages 573-610, October.
    3. Slawomir Czarniewski, 2014. "Types of Competition in the Market in the Context of New Value for Customers," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(12), pages 259-269, December.
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    1. Wanjiru Ruth Irungu & Xiaoguang Liu & Chuyu Han & Alvin Bomer & Wambui Ann Wanjiru, 2020. "Progress towards a World-Class Research University status: The case of Nanjing Agricultural University," Higher Education Studies, Canadian Center of Science and Education, vol. 10(1), pages 1-72, March.

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