Innovation, the New Challenge of Today’s Entrepreneurship

Adela Mariana Vadastreanu; Adrian Bot; Dorin Maier; Andreea Maier

doi:doi:10.11648/j.jim.20150406.19

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Innovation, the New Challenge of Today’s Entrepreneurship

Adela Mariana Vadastreanu, Adrian Bot, Dorin Maier, Andreea Maier

Published in Journal of Investment and Management (Volume 4, Issue 6)

Received: 11 August 2015 Accepted: 21 August 2015 Published: 3 September 2015

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Abstract

The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.

Published in	Journal of Investment and Management (Volume 4, Issue 6)
DOI	10.11648/j.jim.20150406.19
Page(s)	357-362
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Innovation, Entrepreneurship, Business Success

References

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[2]	Leavengood, S., (2011), Identifying Best Quality Management Practices for Achieving Quality and Innovation Performance in the Forest Products Industry, Portland State University, 2011.
[3]	Hill, C., R., (2003), The performance of incumbent firms in the face of radical technological innovation, Academy of Management Review, Vol. 28, Nr. 2, pp. 257-74, 2003.
[4]	Wright, R., (2005), Types of product innovations and small business performance in hostile and benign environments, Journal of Small Business Strategy, Vol. 15, Nr. 2, pp. 33-34.
[5]	Tenhunen, L., (2007), How International Collaboration Benefits Companies – Evaluation of the Scale Effects of an Expanding Innovation Environment, InnoSteel: True Stories Made Out of Steel, pp. 109-130, Hamk University of Applied Sciences
[6]	Maier, A., Fulea, M., (2012), Integrating concepts of quality and innovation - a key to business excellence, Calitatea- acces la success, Vol. 13, Nr. 131, p.13-19 (ro)/ 77-81(en), ISSN: 1582-2559.
[7]	Maier, A., (2014) Cercetări și contribuții la dezvoltarea modelelor de management al inovării, Universitatea Tehnică Cluj – Napoca, România.
[8]	Dicţionarul explicativ al limbii române (DEX), Academia Română, Editura Univers Enciclopedic
[9]	Rothwell, R., Successful industrial innovation: critical factors for the 1990s, R & D Management, vol. 22, nr. 3, pg. 221-39, 1992
[10]	Rothwell, R., (1994) Towards the fifth-generation innovation process, International Marketing Review, Vol.11, Nr. 1, pp. 7
[11]	Rogers, E., (1995) Diffusion of Innovations, New York: The Free Press
[12]	Bessant, J., (2005) Managing Innovation beyond the Steady State, Technovation, Vol. 25, pp 1366-1376
[13]	Adamides, E., Karacapilidis, N., (2006) Information technology support for the knowledge and social processes of innovation management, Technovation, Vol. 26.
[14]	OECD (Organization for Economic Co-operation and Development), (2009), A Forward looking response to the crisis. Fostering an Innovation –led sustainable recovery. http://www.ioe-emp.org. Downloaded on 01.03.2011.
[15]	Coccia, M., (2006) Classifications of Innovations. Survey and Future Directions, National Research Council of Italy, W.P. 2/2006.
[16]	Fagerberg, J., Innovation: A Guide to the Literature, in the Oxford Handbook of Innovations, Oxford University Press, pp. 1-26, 2004.
[17]	Tidd, J., Bessant, J., Pavitt, K., Managing Innovation: Integrating Technological, Market and Organizational Change, JohnWiley & Sons, Chichester, 2001.
[18]	Hesmer, A., (2010) Knowledge Exploration to Enhance the Product Develop Process, Towards new challenges for Innovative management practices, Vol. 3, Nr. 1, European Research on Innovation and Management, Wiesbaden, Germany, pp. 67-75.
[19]	http://www.global-innovation.net, accesed on 23.07.2014
[20]	Dervitsiotis, K., A framework for the assessment of an organisation’s innovation excellence, Total Quality Management, Vol. 21, Nr. 9, pp. 903–918, 2010
[21]	Ghidul Metodologic al inovării, http://www.i3e.eu/innovation/mgi_RO.pdf.

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APA Style

Adela Mariana Vadastreanu, Adrian Bot, Dorin Maier, Andreea Maier. (2015). Innovation, the New Challenge of Today’s Entrepreneurship. Journal of Investment and Management, 4(6), 357-362. https://doi.org/10.11648/j.jim.20150406.19

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ACS Style

Adela Mariana Vadastreanu; Adrian Bot; Dorin Maier; Andreea Maier. Innovation, the New Challenge of Today’s Entrepreneurship. J. Invest. Manag. 2015, 4(6), 357-362. doi: 10.11648/j.jim.20150406.19

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AMA Style

Adela Mariana Vadastreanu, Adrian Bot, Dorin Maier, Andreea Maier. Innovation, the New Challenge of Today’s Entrepreneurship. J Invest Manag. 2015;4(6):357-362. doi: 10.11648/j.jim.20150406.19

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@article{10.11648/j.jim.20150406.19,
  author = {Adela Mariana Vadastreanu and Adrian Bot and Dorin Maier and Andreea Maier},
  title = {Innovation, the New Challenge of Today’s Entrepreneurship},
  journal = {Journal of Investment and Management},
  volume = {4},
  number = {6},
  pages = {357-362},
  doi = {10.11648/j.jim.20150406.19},
  url = {https://doi.org/10.11648/j.jim.20150406.19},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20150406.19},
  abstract = {The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.},
 year = {2015}
}

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TY  - JOUR
T1  - Innovation, the New Challenge of Today’s Entrepreneurship
AU  - Adela Mariana Vadastreanu
AU  - Adrian Bot
AU  - Dorin Maier
AU  - Andreea Maier
Y1  - 2015/09/03
PY  - 2015
N1  - https://doi.org/10.11648/j.jim.20150406.19
DO  - 10.11648/j.jim.20150406.19
T2  - Journal of Investment and Management
JF  - Journal of Investment and Management
JO  - Journal of Investment and Management
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EP  - 362
PB  - Science Publishing Group
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AB  - The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.
VL  - 4
IS  - 6
ER  -

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Author Information

Adela Mariana Vadastreanu

National Institute of Research and Development for Isotopic and Molecular Technologies, Cluj Napoca, Technical University of Cluj Napoca, Romania
Adrian Bot

National Institute of Research and Development for Isotopic and Molecular Technologies, Cluj Napoca, Romania
Dorin Maier

Technical University of Cluj Napoca, Romania and University of Economic Studies, Bucharest, Romania
Andreea Maier

Technical University of Cluj Napoca, Romania and University of Economic Studies, Bucharest, Romania

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Plain Text BibTeX RIS

APA Style

Adela Mariana Vadastreanu, Adrian Bot, Dorin Maier, Andreea Maier. (2015). Innovation, the New Challenge of Today’s Entrepreneurship. Journal of Investment and Management, 4(6), 357-362. https://doi.org/10.11648/j.jim.20150406.19

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ACS Style

Adela Mariana Vadastreanu; Adrian Bot; Dorin Maier; Andreea Maier. Innovation, the New Challenge of Today’s Entrepreneurship. J. Invest. Manag. 2015, 4(6), 357-362. doi: 10.11648/j.jim.20150406.19

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AMA Style

Adela Mariana Vadastreanu, Adrian Bot, Dorin Maier, Andreea Maier. Innovation, the New Challenge of Today’s Entrepreneurship. J Invest Manag. 2015;4(6):357-362. doi: 10.11648/j.jim.20150406.19

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@article{10.11648/j.jim.20150406.19,
  author = {Adela Mariana Vadastreanu and Adrian Bot and Dorin Maier and Andreea Maier},
  title = {Innovation, the New Challenge of Today’s Entrepreneurship},
  journal = {Journal of Investment and Management},
  volume = {4},
  number = {6},
  pages = {357-362},
  doi = {10.11648/j.jim.20150406.19},
  url = {https://doi.org/10.11648/j.jim.20150406.19},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20150406.19},
  abstract = {The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.},
 year = {2015}
}

Copy | Download

TY  - JOUR
T1  - Innovation, the New Challenge of Today’s Entrepreneurship
AU  - Adela Mariana Vadastreanu
AU  - Adrian Bot
AU  - Dorin Maier
AU  - Andreea Maier
Y1  - 2015/09/03
PY  - 2015
N1  - https://doi.org/10.11648/j.jim.20150406.19
DO  - 10.11648/j.jim.20150406.19
T2  - Journal of Investment and Management
JF  - Journal of Investment and Management
JO  - Journal of Investment and Management
SP  - 357
EP  - 362
PB  - Science Publishing Group
SN  - 2328-7721
UR  - https://doi.org/10.11648/j.jim.20150406.19
AB  - The aim of this article is to evaluate the importance of innovation for entrepreneurship environment in the context of current economic conditions. Throughout the last century, industry leaders learnt to master the production process to such an extent that now it no longer functions as a significant competitive advantage. Every entrepreneur is now facing a harsh and highly competitive business context in a globalized economy, and in order to resist and to be successful the new challenge is to master the innovation process, harnessing change, creating new competitive advantages by offering better products, using better processes, delivering better services or even offering entirely new solutions. Although the process of innovation is one of the most important drivers of growth and prosperity in today's global economy, it is also one of the least understood. This paper wants to bring a contribution to a better understanding of the innovation process and to identify some characteristics of the future entrepreneur. At the end of the paper are presented some recommendations that a company should be aware of in order to be more innovative and also we have identified some characteristics that an entrepreneur must have in order to be successful. This article can be also used as a base for future studies regarding the process of innovation, the management of the innovation process, the establishing of a management system of innovation and its implementation into existing management systems.
VL  - 4
IS  - 6
ER  -

Copy | Download