Innovation As A Necessity For The Progress Of Bulgarian Business Organizations

Contemporary socio-economic changes that are a part of a complex and dynamic economic environment and the aspiration of business organizations for higher competitiveness are the base for forming innovative behavior, which is absolutely adequate to the present.We all live in a society, characterized by high network connectivity, which is transforming the knowledge with a focus on its dissemination and application. It could be said that inherent to the dynamics of the fast-changing environment is the innovative behavior of active businessorganizations, taking into consideration also the key role of the human factor with its knowledge and skills, and with the understanding that it is crucial for every sector of the economy.The success of organizations in a knowledge-based economy, especially nowadays, will increasingly depend on the intangible resources of firms and the ability of the leaders to manage them. The attitude of corporate management should be directed to the effective and purposeful implementation of practices that encourage and support the innovative ideas and work of people in a corporate environment.Bulgarian business organizations need technological modernization and corporate governance philosophy in the context of innovation. Only this can be the way for creating a competitive company profile.Therefore, innovation is the creative act of human activity that should neither be overestimated, nor underestimated, but effectively applied in today's economic reality.