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Conclusions
Reviewing the definition of innovation in many authors' works, we may find a variety of
analogies, which are based on innovation as a process and the results obtained
identification: basically progressive novelty, which means a complex creation, development,
global spread and an effective use of innovation in various spheres of human activity, which
is supported by all the company's new technologies. The assessment forms of innovation
(products, services, processes, situation, strategy, management), which is the basis for
innovation activities, can be considered these - the product and service innovation.
Innovation as the process plays an important role in the economic activity of companies -
innovation is a discipline, which is focused on continuous opportunities to meet human
needs, to look for more efficient ways of organizing business starting with the research work
and ending with the innovative product or service commercialization that can be practiced
in the company of any size. The term innovation is ambiguous: in everyday speech, it also
means the process and the result. Innovation means the process, when it comes to the idea
of transforming the demand for having a product or service, a new or improved
manufacturing or distribution process, or a new method of social service. Innovation refers
to the result, when it comes to a new and improved product, equipment or services with
market demand. A new product is associated with the process of innovation. For deeper
knowledge innovation, it must be linked to the performance concept. Innovative activities
can be described as a complex process involving the creation of innovation, its
dissemination and utilization. Innovative activity is a complex dynamic system, the efficiency
of which depends mainly on innovative practices in the internal mechanism and its
interaction with the external environment.
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