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The Impact of Innovation in Romanian Small and Medium-Sized Enterprises on Economic Growth Development

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  • Oncioiu Ionica

    (“Titu Maiorescu” University)

Abstract

Small firms are big business in the aid of economic development. When the SMEs competitive advantage is based on knowledge as is the case of the knowledge economy, innovation and creativity become a decisive factor in the economic activity because knowledge tends to be developed in the actual contexts. Technical progress leads to innovation waves and creativity stands in the doorway of these phenomena, although it is usually not explicitly associated with it. At the same time, much less is written about the majority of small and micro size firms that constitute the core of the economy. The purpose of this study is to explore the implications, positive and negative, of the changed economic environment in Romania, for the development of small medium enterprises’. Results revealed that Romanian Small medium enterprises (SMEs), as in all transition economy, play an important role in the economic growth development and are increasingly recognized as having a permanent role as a seed-bed for future growth. The Journal: Journal of Knowledge Management, Economics and Information Technology

Suggested Citation

  • Oncioiu Ionica, 2013. "The Impact of Innovation in Romanian Small and Medium-Sized Enterprises on Economic Growth Development," Journal of Knowledge Management, Economics and Information Technology, ScientificPapers.org, vol. 3(6), pages 1-29, December.
    • Handle: RePEc:spp:jkmeit:spi13-29
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    References listed on IDEAS

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