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Innovativeness of Serbian Enterprises as a Factor of Competitiveness Improvement at the International Market

In: Economic and Financial Challenges for Balkan and Eastern European Countries

Author

Listed:
  • Milica Jovanovic

    (University of Nis)

  • Milica Djokic

    (University of Nis)

Abstract

In today’s knowledge-driven economy, financial and capital assets no longer play the leading roles. Innovations are the main drivers of competitiveness and development of enterprises, as well as of the countries and societies as a whole. Only those who are capable and flexible enough to adapt to the given circumstances and continuously search for new solutions can survive at such dynamic world market. For that reason, investment in science, creation of new knowledge, research and development (R&D), and new technologies are crucial for the prosperity of the national economy. On the international market, with intense competition and sophisticated consumers, innovativeness becomes an imperative. The main goal of this paper is to explain the significance of knowledge and innovations in today’s business and to identify the main challenges that small and medium enterprises in Serbia are faced with in increasing their innovativeness and ways of overcoming them in order to improve their competitiveness at the international market. The emphasis will be on considering the impact of investment in R&D on strengthening the position of domestic companies in the world market and on the indicators that represent the main weaknesses in domestic innovativeness.

Suggested Citation

  • Milica Jovanovic & Milica Djokic, 2020. "Innovativeness of Serbian Enterprises as a Factor of Competitiveness Improvement at the International Market," Springer Proceedings in Business and Economics, in: Marietta Janowicz-Lomott & Krzysztof Łyskawa & Persefoni Polychronidou & Anastasios Karasavvoglou (ed.), Economic and Financial Challenges for Balkan and Eastern European Countries, pages 101-115, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-39927-6_7
    DOI: 10.1007/978-3-030-39927-6_7
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