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Relationships between Innovation Capabilities, Business Performance, Marketing Performance and Financial Performance continue

Relationships between Innovation Capabilities, Business Performance, Marketing Performance and Financial Performance continueStrategic Innovation

There are 10 journals talks about strategic innovation that creates value for firm which is also known as new competitive strategies. Strategic innovation is directly related to basic business activities within an organization (Liao et al, 2007).
Strategic innovation is also known as the factor of identifying external opportunities which is also match with external opportunities and internal capabilities .this is an important element that is needed to deliver innovative product and new market exploration (Liao et al, 2007).

Resources Allocation & Organizing Capability

During this research, 14 articles were reviewed which is related to expand of technological in relates to mobilize with regards to firms ability, financial and human resource in innovation process. Product innovation is said to be dependable on the leverage of organizational resources and capabilities which is owned by internal functional units or in combination with research institutions, universities, customer and suppliers. Theory suggest that difficult to imitate and rare in market provide a firm to be competitive enough by having distinctive resources or capabilities which are valuable. Element of innovation requires combination of these resources to be essential. Nelson and Pack (1999) also said that the complementary assets that provide the foundation of dynamic capabilities and competitiveness are the factor to integrate build and reconfigure the resources.
Innovation supporting activities are measured by how well a firm manages its capital investment and human in resources allocation capability. There are firms in Hong Kong exhibit a better resource allocation capability and can allocate limited resources more effectively in transforming ideas into commercial products which lead to competitive products. Empirical studies show that financial and human resources in small and medium enterprise are crucial for innovation Nelson and Pack (1999).

This post was written by , posted on November 9, 2013 Saturday at 9:22 am