Abstract:

In today's reality, innovation plays an important role in both business activity and the formulation of public policies towards enterprises (Kogabayev & Maziliauskas, 2017). Their importance in achieving competitive advantage and greater profitability of firms is widely discussed in the literature (e.g. Roberts and Amit, 2003). High competition in a globalized market requires many companies to adopt an appropriate competitive strategy through innovation. With this fact in mind, one can explain why this issue has become one of the most important issues in the literature on small and medium-sized enterprises and government policy over the past decades. However, it seems that this pressure on innovation activities lacks in-depth reflection on risks and disadvantages. types of innovation, and their relationship to the goals of enterprises.