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University of Business Engineering and Management , Banja Luka , Bosnia and Herzegovina
Republic Administration for Inspection Affairs , Banja Luka , Bosnia and Herzegovina
The changing environment challenges the managers of modern organizations how to achieve stability and the ability to create change, overcoming the instability that prevails in the market and ensuring success in chaos. New ideas, applied and exploited in a way that causes an increase in profitability, directly or indirectly lead to an increase in value. This qualifies them as innovation activities that make business better (more competitive). Increased value can be reflected through higher profits, better positioning in the minds of customers, but also through more efficient business processes. The aim of this paper is to determine the impact of innovative management on the process of creating, achieving and maintaining competitive advantage. The scientific-research character of this paper is based on the analysis of relevant scientific literature and modern sources using research methods, analysis methods, comparison methods, description methods and deduction methods. The results of empirical research have shown that achieving competitive advantage is directly dependent on innovative management, because it is one of the most important areas of quality business system management.
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