altogether new to In fact, driver of increasing the industry or only technological productivity and to the firm innovation is a key competitiveness concerned’ (Bala factor in a firm’s Subrahmanya, et al, competitiveness By virtue of its 2010). and it is relationship with unavoidable for As the above competitiveness, firms which want to discussion technological develop and indicates, innovation emerges maintain a technological as a factor competitive innovation can be promoting advantage and/or of different kinds. competitiveness gain entry into new But the most and economic markets (Becheikh, notable dimensions growth. It et.al. 2006). of technological contributes Technological innovations are: (i) significantly to the innovation is a radical innovations building up of means to (an altogether new national productivity growth product or new competitiveness. and higher living process to the world standards Improvements in is introduced by a national innovative (Zemplinerova and firm) and Hromadkova, capacity are not a incremental 2012). It can be a zero sum game. If innovations critical driver of many nations can (improvements are increasing improve their made to the existing productivity and technological competitiveness innovation (ii) product (Council on capability, all will innovations and Competitiveness, enjoy more rapid process 1999). growth in innovations. productivity and Further, technological with it, an technological innovation is a key improved standard innovation is just of living (Council factor in a firm’s one form of on competitiveness and innovation. Competitiveness, Innovation may it is unavoidable for 1999). take place in any which want to other functional Determinants of develop and area of Technological maintain a management such Innovation: Basic competitive as marketing Theoretical advantage and/or innovation, Underpinnings financial innovation gain entry into new But it is and organizational markets (Becheikh, important to innovation, among et.al. 2006). understand what others. Technological prompts to But many see innovation is a undertake innovation as only means to technological technological in innovations? The productivity growth nature, resulting in available literature the development of and higher living on the determinants new products like standards of technological Apple’s iPad or (Zemplinerova and innovation of firms Boeing’s 787 Hromadkova, 2012). is diverse and Dreamliner It can be a critical complex (Bala (Atkinson, 2013).
altogether new to the industry or only to the firm concerned’ (Bala Subrahmanya, et al, 2010). As the above discussion indicates, technological innovation can be of different kinds. But the most notable dimensions of technological innovations are: (i) radical innovations (an altogether new product or new process to the world is introduced by a firm) and incremental innovations (improvements are made to the existing (ii) product innovations and process innovations. Further, technological innovation is just one form of innovation. Innovation may take place in any other functional area of management such as marketing innovation, financial innovation and organizational innovation, among others. But many see innovation as only technological in nature, resulting in the development of new products like Apple’s iPad or Boeing’s 787 Dreamliner (Atkinson, 2013). In fact, technological innovation is a key factor in a firm’s competitiveness and it is unavoidable for firms which want to develop and maintain a competitive advantage and/or gain entry into new markets (Becheikh, et.al. 2006). Technological innovation is a means to productivity growth and higher living standards (Zemplinerova and Hromadkova, 2012). It can be a critical driver of increasing productivity and competitiveness (Council on Competitiveness, 1999). technological innovation is a key factor in a firm’s competitiveness and it is unavoidable for which want to develop and maintain a competitive advantage and/or gain entry into new markets (Becheikh, et.al. 2006). Technological innovation is a means to productivity growth and higher living standards (Zemplinerova and Hromadkova, 2012). It can be a critical driver of increasing productivity and competitiveness By virtue of its relationship with competitiveness, technological innovation emerges as a factor promoting competitiveness and economic growth. It contributes significantly to the building up of national competitiveness. Improvements in national innovative capacity are not a zero sum game. If many nations can improve their technological innovation capability, all will enjoy more rapid growth in productivity and with it, an improved standard of living (Council on Competitiveness, 1999). Determinants of Technological Innovation: Basic Theoretical Underpinnings But it is important to understand what prompts to undertake technological innovations? The available literature on the determinants of technological innovation of firms is diverse and complex (Bala
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