Pages: 24-27

Abstract

Companies are striving around the globe in various sizes and sectors in an environment that is increasing in its dynamicity, complexity and unpredictability day in day out. Such an increase reminds the companies that they should be seeking for new ways of doing business via innovation enabling them to gain profit and remain in the apex of the competition. Moreover, increase in competition, shortening of the product life cycle, the need for new product success and market-orientation are atop of the innovation agenda of the companies.