Explore Campus 360°This paper is published in the international journal of well-known global publisher John Wiley & Sons Ltd. (Strategic Change: Brifings in Entrepreneurial Finance, John Wiley and Sons, Chichester, UK, Vol.20, Issue 3-4, p.101-110, ISSN: 1099-1697, http://onlinelibrary.wiley.com/doi/10.1002/jsc.888/abstract).
This paper addresses the meaning of innovation what does innovation present, types of innovation specifically discussing the right way of usage. In order for companies to get the as more innovations as possible it is necessary for them to be familiar with the process of innovation and its principles which innovation was found on. In this paper are covered the main characteristics of innovation which present a very good basis for a proper usage of innovation and ways of transforming it in competitive advantage for companies.