INNOVATION POLICY AND INNOVATION MANAGEMENT
This paper is aim at defining the basic characteristics of the high-tach products, which are the most important factor for strategic success in the high-tech industry. These products differ from products in others industries in many ways, but the most distinguishing features are related to their advanced technology, a relatively short product life cycle and the high level of innovation. Developing business models and strategies managers should avoid thinking that high-tech products are products above all and they can apply the same approach in managing business. They should be fully aware of the distinguishing features of the high-tech products, so to be able to develop and implement successful business strategy in the long run.