HIGH-TECH INDUSTRY PERFORMANCE IMPROVEMENT

Abstract

High-tech industry stands out as progressive, inovative field of industry which continuously makes investments towards R&D development. High-tech industry also has distinguishing features such as rapid use of new science findings and constant investments to new equipment, which tends to quickly depreciate and is replaced. Also, high-tech industry companies typicaly cooperate with international organisations, research centers and universities. It is not unusual for high-tech industry companies to have a lot of patents and licences. It is difficult to implement business improvement models, which tend to increase competitive advantage by reducing production cost, increasing production speed and reducing delivery time in continiously evolving high-tech industry companies. In this paper the posibility to implement business improvement models in high-tech industry is analyzed. Additionaly, employee motivation and initiative, as factors of business model implementation success is analyzed. Finally, based on the research of scientific literature and empirical data of two high-tech industry companies a model for high-tech industry performance improvement is proposed, which also introduces tools to improve employee motivation and initiative.