A SWOT Analysis of the Romanian Food Industry’s Approach to Innovation
Abstract
Innovation, the engine of well-developed economies, is crucial worldwide. Even in times of disruption, as the last years confirmed, the companies that continued to have innovation in the focus were better prepared for facing challenges and identifying new opportunities for future positive development. Innovation can make the difference between a well-run business and one that is driven by inertia. It is obvious that innovative activities can improve business development, but it is unclear how to build an efficient innovation system or strategy. In order to study the way innovation is approached in food organizations, in Romania, we have conducted an exploratory research, structured on 5 important topics: how organizations are defining innovations, what kind of innovations are developed, how innovation is implemented and managed, what measurement methods are used, and which is the strategy for innovation management. An additional topic was focused on companies’ concerns towards sustainability. After conducting the exploratory empirical research, a SWOT analysis was developed, to uncover the strengths, weaknesses, opportunities, and threats in the Romanian food industry’s approach to innovation. The aim of the paper is to point out the opportunities and beneficial elements of innovation management in Romania’s food sector, but also the weaknesses and threats in order to identify ways of surpassing them. The purpose of the research is answering the following questions: What is the importance of innovation management, sustainability, and quality management in the Romanian food companies? Is there a common definition and a common approach for innovation management in food industry? What measurement methods are used for measuring the impact of innovation? Which is the strategy for innovation management? The structure of the research, with practical implications, offers an additional novelty and originality approach for studying the innovation management in Romania’s food sector. According to National Statistical Institute Innovation data, big organizations are driving the most consistent part of the economic growth, therefore, in the present paper, the authors could reveal important aspects to be considered for an Innovation Management Model which could fit all food companies, no matter the size