THE POTENTIAL FOR INNOVATION AS A CONTRIBUTION TO SOCIAL PROGRESS AND GROWTH AREAS

There is no doubt that the potential for innovation in enterprises and / or social and economic systems of individual territories affects the social progress and economic growth. The effectiveness of social and economic systems and their competitiveness in the market in many respects are dependent on the introduction of products on the market, with new consumer qualities, or the growth of the efficiency of production systems. Such methods of increasing the competitiveness of the company is called innovation or innovations. In the literature, «innovation» is interpreted as the reincarnation of the results of scientific and technological progress, new products and services. We can say that commercialized innovation - is the result of mental work, which has the highest efficiency, which is considered to be the end result of human mental work, the creative process, discoveries, inventions and rationalization