inovacija
Inovacija, a term used in several South Slavic languages such as Slovenian, Croatian, Bosnian, and Serbian, denotes the process and result of introducing new or significantly improved products, services, processes, or organizational methods that create value. It derives from the Latin innovare and generally corresponds to the English word innovation.
Broadly, inovacija covers technological, organizational, and social changes, and it often involves turning ideas into marketable
Innovations can be incremental, adding small enhancements, or radical, involving major breakthroughs. They may be sustaining,
Economically, inovacija is associated with productivity growth, competitiveness, and improved living standards. Public and private actors
Challenges include high risk and uncertainty, long development cycles, the need for new skills, and ensuring