INNOVATION AS A COMPETITIVE ADVANTAGE TO SMALL AND MEDIUM-SIZED ENTERPRISES.

'Artistic works and inventions are made by human spirit. These works make the human life worthy. Responsibility of the country is to protect art and inventions'212 This inscription shows the importance of the mental activity in improving and easing the entire life. Innovations have always been the key to success in big enterprises, but also in the small and medium sized enterprises and they remain to be the lifeblood of the economy based on knowledge, which is a challenge for every country. The effort for increasing the innovation of the companies and the SMEs appears as the only mechanism for resolving the big social challenges which many countries in the world face. [ABSTRACT FROM AUTHOR]