Administrative innovations as necessary condition of competitiveness of the modern companies.

Abstract

Business innovation is today the "bottleneck" of management theory and practice. There are no theoretical models that are directly related to business innovation; in the practice of management, product and technological innovations take precedence. Incorrect interpretation of innovations reduces the effectiveness of their implementation. The competitive advantage of a company today is not determined primarily by the accumulation of capital, but by the ability of management to initiate, perceive and use changes, to learn faster than others about the experience of change. New theories of economic growth emphasize that the development of innovations is the driving force of sustainable economic growth.