THE ROLE INNOVATION ON STRATEGIC ORIENTATIONS AND COMPETITIVENESS OF ENTERPRISES

The most important strategic decisions related to technology in a company related precisely to determine the timing of the election of a new technology that will replace the existing one. By monitoring all the new features will be prevented that the existing technology comes a phase of maturity and obsolescence, and that previously have not been introduced in a timely manner the necessary changes and substitution/replacement of new technologies. The life cycle (already) technology represents the absolute frequency of product and process innovations in the production unit. Timely identification, acquisition and adoption of new technologies will lead to coincide moment of maturity and decline of the old technology and a moment of growth of new technologies. The introduction of new technologies and patents can significantly affect the former structure of enterprises, the production process, method of delivery, financial management, etc. The best example, which is just one of the biggest problems of today, the use of technology as a substitute for labor. By automating processes and using artificial intelligence gradually replaces the human factor in all processes