Increasing competitiveness through innovations in management

Abstract

In recent times, innovative products and technologies have ceased to play a key role in establishing a company's competitiveness, as these can be copied relatively quickly and inexpensively. Nowadays, one of the main sources of competitive advantages in an organization in ensuring its superiority, are innovations in management. This connection therefore raises the need in finding new methods and control technologies. Such innovations include the use of modern methods of teambuilding, SRM - stakeholders' relationship management-, talent management as well as various manifestations of crowdsourcing. SRM identifies the connection between the so-called interested parties, as well as contributing towards building with them long-term trusting relationships. Talent management comprises the activities in the field of personnel management aimed at involving employees in the innovation process, the formation of incentives and the development of their creativity. Particular attention is given to manifestations of employee's initiatives, creativity and passion, which in turn give rise to the courage, imagination and enthusiasm providing a continuous flow of innovations. Thus, the most valuable resource of an organization is having sustainable competitive advantages, by incubating and developing group tacit knowledge.