The Impact of Innovation on Business Growth: Romanian SME SectorAbstract:Today SMEs make up the vast majority of enterprises, and account for a substantial share of gross domestic product (GDP) and workforce. At the same time, researches are written about this majority of small and micro size firms that constitute the core of the economy and they have been interested in innovation and growth for a long time. This study proposes to investigate how the innovation is a crucial concept involving creativity, organization and profitability for Romanian SME sector and how deployment of external resources is influenced by the nature of innovation as well as by the context of the innovation process. The results shows that innovations are implemented in the course of ordinary operational activities hardly noticed from day to day. However, the cumulative effect of innovations is usually sufficient to maintain a competitive position when changes in markets follow predictable patterns
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- P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions
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