Innovation Potential of Agricultural Companies in Serbia

Mosurović Ružičić, Marija and Lazarević-Moravčević, Marija (2023) Innovation Potential of Agricultural Companies in Serbia. In: III international scientific conference "Sustainable agriculture and rural development". Institute of Agricultural Economics, Belgrade, pp. 395-406. ISBN 978-86-6269-123-1

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Abstract

The influences from the environment mostly triggered by the crisis situations, caused by the COVID-19 pandemic and the ongoing armed conflict, have caused some changes in the structure of all industrial sectors, putting considerable pressure on agricultural and food companies worldwide. Moreover, the growing need for agricultural and a food product increases the need for the accelerated development of this sector, which cannot be achieved unless innovative technologies and solutions are introduced. The indicators of the innovation activities in Serbia for the period from 2018 to 2020 suggest that the innovations in this sector were at the lowest level, which determined the subject of the research of this paper. Applying the methodology of EUROSTAT and the OECD, the authors analyse the innovation potential of the companies operating in the agricultural sector. The aim of the paper is to emphasise the importance of these innovations in overcoming the problems faced by the agricultural sector in Serbia, as well as to highlight their impact on the growth of the productivity and competitiveness of the sector. In accordance with the findings, the recommendations for decision-makers will be presented and possible directions for a further research will be recommended.

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