Introduction. Innovation is an integrating part of the re-vitalization plan of EU economy and it is one of the seven initiatives comprised in the 2020 Europe Strategy. The European Union supports through active policies the creative-innovative processes, as illustrated by the Cohesion Policy Program for 2007-2013 and by the ”Horizon 2020” Program for Research and Innovation.
Aim of the study. The present paper presents, from an organizational perspective, relevant aspects related to the question of innovation and innovation management, while pointing out the most important internal and external factors that favour the introduction of innovation into the sphere of processes that are run by organizations, as well as into the sphere of products and services provided by organizations. At the same time, the paper briefly presents the essential attributes of organizations which obtain competitive sustainable advantages through innovation.
Keywords: organization, innovation, management of innovation, contextual factors, intraorganizational factors, competitive advantage.
JEL Classification: D83, L21, L25, O31, O32.