Innovation in Company Crisis Management

Abstract

Every company can operate successfully anyway, but if its management is not focused on the acquirement of new technologies enabling to produce new sorts of top-grade quality production with lowest costs, it faces the hazard of becoming uncompetitive in a very short time. On the other hand we presently begin talking about innovative crisis as a part of economic crisis manifesting itself in significant decrease of new products creation and implementation processes. All of this may stir up a crisis situation in a company and may be the cause of its bankruptcy.