INNOVATION STRATEGIES IN THE INDUSTRIAL ENTERPRISES OF THE VARNA REGION

Abstract

Innovations in the modern economy are not less important than all other factors of production such as labour, capital and land. Not only do they help resolve existing business problems, but they also contribute to keeping productions that are dying in certain regions due to lack of staff, increase the competitiveness of businesses and entire economies, and meet new or existing public needs. In order for the different types of innovations to be implemented and realized on the market, the organizations that offer them must have specific strategies how this can happen. An enterprise's innovation strategy refers to specific activities such as development and implementation of innovation. Ultimately, the innovation strategy is an important factor for the successful realization of both product and technological, organizational and management innovations, and hence the improvement of the market positions of the innovative enterprises. This is true for the industrial enterprises of the Varna region as well.