Innovative activeness of oil-yielding enterprises

Author: Associate Professor PhD Liubcho Varamezov, Head Assistant Iskra Panteleeva (Tsenov Academy of Economics, Department of Industrial Business and Entrepreneurship)

Keywords: innovations, innovative activeness, oil-yielding enterprises.

The article investigates and analyses economic entities producing plant oils and fats, the stress being laid on their innovative activeness, as measured with the following indexes: expenses made on innovations; number of new (improved) products; number of new (improved) processes and number of organizationmanagement innovations. The findings of the investigation have lead to several basic conclusions: first, the chronic deficit of plant oils on the world markets lowers the innovative activeness of oil producers. Second, small oil-yielding enterprises display much lower innovative activeness, which poses a threat to their future development. In the third place, outdated production technology and technique is a major problem to enterprises in the industry investigated, and limits their capacity for product innovation. The following recommendations have been formulated, based on the above-mentioned conclusions: the enterprises in the branch have to update technically and technologically their production; more intensive product innovation is necessary; oil-yielding enterprises have to accelerate the process of obtaining internationally recognized certificates.

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