INNOVATION STRATEGY AS A COMPETITIVE ADVANTAGE AND THE REVIEW OF INNOVATION IN TERMS OF INCREMENTAL AND RADICAL INNOVATIONS

Abstract

Accelerating change and development in the field of technology has led to important differences in the structure of goods and services and the potential to meet consumer preferences. With the help of information technology and other advances, consumers began to have much more information about the options that will meet their expectations. The fact that consumers become more conscious individuals than before made the businesses of the enterprises operating in the competitive environment quite difficult. In such an environment, one of the key elements for enterprises to achieve sustainable competitive advantage can be considered as innovation. The development of the Internet and similar technologies causes significant changes in the business activities as well as the consumers. At this point, the establishment of one-to-one communication between the enterprise and the consumer helps the customers to become more familiar and develop the privileged products that will provide satisfaction. In recent years, the importance of enterprises gives to take customers and consumers to the center, approaches and innovations in existing goods and services offerings provide convenience to businesses. In this study, it will be discussed the innovation strategies in order to succeed in the competitive environment of enterprises and it will be handled in two different sizes in the form of a incremental and radical innovations