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The confluence, contribution of innovation at the growth of the modern business

Karyotaki Stavrianna

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Summary

The present dissertation is prepared in the framework of the undergraduate program of the Department of Production Engineering and Management of the Technical University of Crete. The purpose of this paper is to examine and document the issue of the contribution of innovation in modern business. As technology, society, and humanity itself are evolving, so do business practices. Businesses are legal entities that over time, as we will see, to remain healthy and in line with the orders required by the era and technological development, they tend to follow the "stream" of harmonization with innovation, not only in their technological infrastructure, but also in all functions and departments, methods of administration and management. In this paper we examine and analyze, among other things, first, the definition of innovation, creativity and entrepreneurship, and the connection between concepts. Then, we quote the reasons why companies need to adopt innovation and therefore the benefits that follow for them. Next, we look at the measurement and development techniques of innovation, through a range of concepts and measurements used in our time. Finally, we delve deeper into technological development, a concept intertwined with innovation, identifying the factors that make it possible and the cases that have arisen in the Greek business landscape. Our goal is for the reader after the reading to get a clear picture on the subject and to make clear our positions and arguments. The research is carried out with the method of bibliographic review, with the main source being the articles of scientific journals and publications, out of Greek and international bibliography.

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