TECHNOLOGICAL PROGRESS AS A GENERATOR OF ECONOMIC GROWTH AND DEVELOPMENT
Abstract: This paper emphasizes the importance of companies investing in research and development, i.e. importance of innovation, and innovative activities in...
Abstract: This paper emphasizes the importance of companies investing in research and development, i.e. importance of innovation, and innovative activities in our country and abroad. Technological change should be a major goal of any modern enterprise, because they are not only represent a key factor in the competitive market, but also represent a “pillar” of overall economic growth and development.
Technological progress is an important development factor for any country in the world, in favor of this claim, we can use the fact that the EU initiated the program \"Innovation Union\", with only one goal: intensification of innovation activities, which will also be discussed in this paper. In the first part of this work, we analyze the importance of market structure when it comes to the issue of readiness of investment in research and development, all that with only one purpose - to give an answer to the question: In which market structure we can find most innovative firms? The second part is based on determining the position, i.e. exact place that BiH occupied in the field of technological progress and innovation. The third part will be based on the importance of applying the Index of ICT development, as the main indicators of development of ICT.