THE ROLE OF INNOVATIVE ENTREPRENEURSHIP IN THE DEVELOPING COUNTRY’S ECONOMY

Abstract

this article shows the effects of innovative business to country’s economy. Competition between
companies differentiates a lot nowadays compared to many years before. Companies are trying to achieve
competitive advantage in order to help them obtain a better and a stable position in the marketplace. The best
way for companies to achieve a competitive advantage is through innovation. Innovation is essential for
sustainable growth and economic development. Several core conditions enable innovation and encourage
economic growth. In the modern economy, innovation is crucial for value creation, growth and employment
and innovation processes take place at the enterprise, regional and national level. Innovation will lead to new
businesses as well as to the increased competitiveness of existing enterprises.