EUROPEAN JOURNAL OF ACCOUNTING, FINANCE & BUSINESS

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ISSN: 2344 - 102X

ISSN-L: 2344 - 102X



 

Article from Volume 10, Number 3, Year 2022

INNOVATION STRATEGY: KEY FEATURE OF SUSTAINABLE BUSINESS MODELS
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Author(s): Alexandra - Maria Danilet
DOI: 10.4316/EJAFB.2022.1035
Abstract: In the business environment there is an increased interest in developing enterprises that are innovative and manage to be competitive in times that are more and more turbulent. In this context, we should take into consideration the fact that the competitivity of a business organization is highly influenced by the entire ecosystem created by the knowledge, key competences, a certain organisational culture and also the strategies implemented by the top management. Regarding these elements, we state that the innovation strategy as a vector for innovation management represents an issue highly influenced by the top management vision on the long-term development that can be achieved through innovation. The strategies implemented by the management are essential in achieving and maintaining the position on a certain market. Even though there is a common interest in finding the key to success, the way to it is different for each business organization because it is quite difficult to develop a pattern that can be easily followed by all the business organizations in order to achieve a high performance, aspect that is taken into consideration by academics and also by the business community.
Keywords: Innovation, Business Strategy, Business Models, Sustainable Development
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