Product Innovations in a Family Business with the Support of EU Funds Cover Image

Wsparcie z funduszy unijnych innowacji produktowych w firmach rodzinnych
Product Innovations in a Family Business with the Support of EU Funds

Author(s): Edyta Guderska
Subject(s): Business Economy / Management, Micro-Economics, Economic policy, International relations/trade, Economic development, EU-Accession / EU-DEvelopment, Financial Markets
Published by: Społeczna Akademia Nauk
Keywords: family businesses; EU funds; innovation; production; competitiveness; co-financing;

Summary/Abstract: Family businesses operating on a modern, dynamically growing market must be characterized by innovation, efficiency and flexibility of operations. At the same time, it is important to manage the processes of innovation implementation, introduce new products, technologies and obtain specific financial outlays for these purposes. Innovation is mainly understood as technological, organizational, marketing or product improvements. Product innovations consist in improving the product already produced by the company or starting the production of a new product, using innovative technological solutions – usually on a national, but often also global scale. With an improved or completely new product, family businesses can gain new markets but also become leaders in their industry and set development directions for others. The effect of innovative activities is also to increase the value of the organization and gain a competitive advantage on the market. The aim of the article is to analyze and evaluate the process of introducing product innovations in family businesses with co-financing from EU funds on the example of a production company. The study analyzes the possibilities of financing innovative activities of enterprises, including family businesses located in the Warmian-Masurian Voivodeship, for which the Operational Program Eastern Poland is addressed. The article uses the analysis of the contents of source literature and case study.

  • Issue Year: 19/2018
  • Issue No: 7.3
  • Page Range: 525-535
  • Page Count: 11
  • Language: Polish