Innovation as an Organisational Competitiveness Factor in Project StartUp Decisions

Abstract

Innovation has become a leading buzzword in recent years. However, innovation is not just a concept, it is a series of activities that can move an economy in resource scarcity through stagnation and hard times, offering new solutions, products and processes. For organisations, whether small or large, it is essential to adopt an innovative approach and mindset in order to thrive in the future. Innovation is very important for increasing competitiveness, which is primarily captured at the level of organisations. It is also important how innovation and the drive to innovate is embedded in the daily life of organisations. In our study, we aim to examine how innovation and its impact are reflected in project start-up decisions, using the examples of Hungarian and Slovakian enterprises. We want to answer the question of how innovation is prioritised in a project start-up decision with respect to different organisational characteristics, which, broadly interpreted, can actively influence the international standing and competitiveness not only of an organisation but also of a region or even a country.