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Innovative Potential As A Factor For Increasing The Competitiveness Of Enterprises In The Pharmaceutical Industry

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  • SVETLANA TIMOFEEVA

    (SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, BULGARIA)

Abstract

One component of the competitive potential of the enterprise is innovation potential. It is particularly important for enterprises operating in areas of activity requiring continuous analysis of research and development (R & D) and improve the integration components. Such area is the pharmaceutical industry. The aim of the current article may be defined as a review and analysis of the parties involved in ensuring a successful innovation process in enterprises, types of innovation, how to achieve the objectives related to the subject of the undertaking, the type of products manufactured and steps building an innovation strategy. Under the innovation as a factor for increasing competitiveness is of course the end result of innovation, receiving a realization in the form of new or improved products to be used for further application in the work and also as a result of the implementation of innovative development market, i.e. invention, brought to the stage of commercial exploitation - a product or commodity when he began to give economic effect. Innovation is crucial for the pharmaceutical sector. It is to be built innovation strategy of the company to represent systematic objectives, the ways to achieve their expected results, evaluation and control them. The two most - large enterprises in Bulgaria for the production and supply of medicines - Actavis and Sopharma are employed mainly in the production of generics. In this direction are also useful innovations, but usually with less use of resources. Despite the limited use of funds for innovation, Bulgaria reported progress in the annual ranking of competitiveness, pillar innovation, which gives hope for further climb in the ranking of competitiveness of our country as a whole.

Suggested Citation

  • Svetlana Timofeeva, 2016. "Innovative Potential As A Factor For Increasing The Competitiveness Of Enterprises In The Pharmaceutical Industry," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 4(1), pages 144-165.
  • Handle: RePEc:neo:epjour:v:4:y:2016:i:1:p:144-165
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    Cited by:

    1. Milena Filipova & Radostina Yuleva, 2018. "Innovative Management As Competitiveness Factor," Entrepreneurship, Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD, vol. 6(2), pages 215-228.

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