What are the implications of innovation in economic and social life? The answer to this question, as can be argued, is based on the meaning of the term innovation. A widespread perception of innovation is that it refers to advanced technological solutions, using the latest knowledge.

Such innovations are, in particular, regarded as the result of a highly skilled workforce and companies with significant intensity in the field of research and development, having close links with the most important centers of excellence in the scientific world. The significance of innovation is, however, broader, and includes innovations that are not made in the high-tech sphere of the industry mentioned above.

From this last perspective, innovation includes not only new products or processes, but also improved results, including from the so-called low-tech sectors, whose cumulative economic and social effects are just as important.

The growing global interest in intensifying the innovative activity of enterprises, especially the technological one, is pursued both in order to maintain or increase the competitiveness of national economies, and as a result of awareness of the effects of economic activity on resource consumption and environment. requires the design of new production and consumption models.

Innovative capacity is a key determinant of the economic competitiveness of nations. Innovation – the engine of economic progress and well-being – is, at the same time, the tool for solving current global environmental and health challenges. We see the sustainable development of organizations as the result of their ability to generate new ideas, in support of increased production, employment and environmental protection.