Journal of Innovations in Business and Industry

6

Authors: Bulent Eker, Aysegul Akdogan Eker

For a company, the innovation process can be very costly in terms of time and resources if not planned properly. Therefore, companies must take the right steps for innovation and lay the right foundation for a successful innovation process. Businesses that determine innovation as a strategic goal in their companies and add this purpose to all their employees have always been successful in innovation. It should not be forgotten that innovation in businesses is everyone's responsibility and this purpose is critical to the success of the company.You can consider the following tricks to develop a successful innovation strategy in companies: 1. Make innovation a part of your culture: Explain that innovation is not just a department's responsibility, but a process that everyone can contribute to. Create a culture that values innovation. 2. Motivate your employees: Value and reward your employees' innovation ideas. Encourage employee engagement by using tools like innovation contests or idea boxes. 3. Do research: Keep up with innovations in your industry and do research to understand customer needs. In this way, ideas that you haven't thought of before may come up. 4. Build strategic partnerships: Explore technological or collaboration opportunities by forming strategic partnerships with other companies. In this way, you can discover new ways in the innovation process. 5. Don't be afraid to take risks: Recognize that some ideas can fail in the innovation process. But that shouldn't stop you from generating new ideas. By taking risks, you can contribute to the growth and development of your company. 6. Innovative leadership: Lead your employees to adapt to the innovation culture by adopting an innovative leadership approach. You can also increase your company's innovation capacity by establishing a management structure that encourages innovation. 7. Invest in new technologies: Follow new technologies and invest according to your company's needs. Thanks to new technologies, you can make your business processes more efficient and improve the customer experience.In this paper, it is explained which points an enterprise should pay attention to while implementing innovation. Examples related to the subject are given.

10

Authors: Slavko Arsovski

A world is in process of rapid changing in all areas of living. In all of them exists old and new problems with urgent needs for solving. Transition from Industry 3.0 to Industry 4.0 changed view on industry in 21st century and also there are answers on challenges based on Quality 3.0 and Quality 4.0 concept. In last ten years is developed concept of Japan's „Society 5.0“ which needs Quality 5.0 concept. This is main motive for researching possibility for transition quality into Quality 5.0. In the paper are presented basic information about Industry 4.0 and Quality 4.0 based on new challenges in 21st century. Based on literature and own research is defined concept of Quality 5.0 and ways of transition to Quality 5.0, essecialy in transition counties as Serbia in next 30 years. The first analysis pointed out that it is possible with using smart technologies, smart leadership, smart people and other smart „things“ for achieving smart/integrated quality, quality of life, resilience and all human-centric achivities.

12

Authors: Zora Arsovski, Slavko Arsovski, Miladin Stefanovic

A problem of Business Excellence (BE) has been investigated according to different aspects. For more detailed analysis it is necessary to develop an integrative model of business excellence, respecting baseline model of business excellence according to European Foundation of Quality Management (EFQM), with possibility to define relationships and level of significance of different variables. The main goal of the paper is to develop an integrative model for simulation effects in order to improve the ICT support, quality and leadership as independent variables on business excellence (BE). The model has been developed using techniques of modelling complex dynamic systems and evaluated using statistical techniques. In the sample of 159 organization in Serbian ICT support, leadership and quality and their impact on BE have been analysed. After analysis of simulation, it had been concluded that it is possible to improve business excellence with relative small investment in ICT support, leadership and quality.