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Under the economic and technological progress, innovation represents a vector of national development through excellence, competition and accountability. Moreover, new information, knowledge, and regulation are bringing valuable advantages, thus contributing through its results to the general performance level in both organizations and society. Innovation is becoming therefore increasingly important for achieving the desired levels of flexibility, durability, performance and strength. The present paper aims to present new ideas regarding the role of innovation in society and organizations, as well as how to harmonize innovative processes with rules and procedures which already exist in organizations. Also, the mechanisms in which innovation can boost performance are presented. Last but not least, there is a strong link between innovation and organizational risk, which is presented here. The conclusions reached are oriented towards explaining the place of innovation within organizations as well as in society.