INNOVATIVE ECONOMY IN THE LIGHT OF REFORMS AND BUSSSINESS MODERNIZATION

Abstract

It is widely obvious that the modern business depends on many new previously unknown factors:
innovations, technology expanding, information dispersion and collection, culture, imaginations,
and other intangible productive factors. This paper deals with some of the unexpected changes that
we could recognise as the most influential ones in the new economy era. Purpose and findings of the
substantial theoretic and empirical analysis are oriented to the modernisation and sophistication of
today business, especially in developing, emerging and small countries. All of them are exposed to
severe market reforms, in order to be more efficient and effective in global and regional level. This
paper contains the analysis of content of global development documents and literary materials,
as well as cross-referencing of statistical and other available data. The findings of this study could
result in better orientation of industrial policies and clearer path for the future broader researches
to be conducted in this field.