The Concept of Innovation in Economic Analysis
Although in the first half of this century the Austrian economist Schumpeter rationalized the concept of innovation in economic analysis has been more recently when the concept of innovation has taken citizenship in everything that refers to economic development, as a result of this reality, it has become an essential element of any process of generating wealth.
In the turbulent times we live involves many variables sociological, economic and cultural, always changing, forcing companies to adapt quickly to new scenarios, different and unexpected. At the same time, the degree of competitiveness and globalization, which currently defines the market drives the production units to research, progress and evolve strategically placed in competitive positions of the head. In this regard, and if we understand innovation as a process of improvement and constant change of technology, techniques and organizational means and knowledge, in order to overcome the competitive standards, understand the radical significance of this concept has for business management.
Any innovation process has a well-defined steps that comment later, but nevertheless, I previously noted two important issues that, in my opinion, are fundamental for enterprises, especially when they are SMEs, they can successfully undertake any innovative process. Basically, these are companies willing to innovate are able to fulfill some preconditions for cultural and structural.
From a standpoint of business culture, it is important to internalize that no company is innovative, permanent arrangement, however, if the whole organization of the company is not technically and mentally prepared for that purpose.
On the other hand, from a structural approach, we can not forget that for many years, companies have based its entire operation in the product, the tangible, and focusing the weight of this responsibility to a person or a group people. By contrast, the task requires innovative integrated management of the company, covering all components of this and that, above all, look to the intangible, the immaterial and the “creative.”
Assuming these issues, it is possible to define the principles on which, in my opinion, companies must establish their innovative work: adding value to products through the use of appropriate technology, strengthening customer relationships ; development of the processes of continuous quality improvement, increase product value by developing additional services to them; empowerment of an international vision of business, and finally, creation and development of a strong corporate culture conducive to innovation.
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