Exploring the Different Types of Innovation for Firm Competitive Advantages

Rajenlall Siriram, Chantelle du Plessis and Fredrick Rudolphus Bezuidenhout

A chapter in Innovation - Research and Development for Human, Economic and Institutional Growth from IntechOpen

Abstract: Over the past several decades, there has been much debate on innovation and how innovation contributes to a firm's competitive advantage and firm performance. Innovation can be competence-enhancing or competence-destroying. From a firm perspective, innovation can be classified into at least two broad categories, namely technological innovation, which is predominately new product development (product innovation) which includes architectural innovation from a product perspective and non-technological innovation, which includes at least process innovation, organizational innovation, marketing innovation, and service innovation. From an industry perspective, there is transformational innovation which is of such a nature that it destroys whole industries and changes the nature of society. In this chapter, we explore how the different types of innovation can be better understood and how they complement each other so that the firm can derive competitive advantages from the different types of innovation and improve firm performance.

Keywords: technological innovation; non-technological innovation; product innovation; architectural innovation; process innovation; organizational innovation; marketing innovation; service innovation; transformational innovation; firm performance improvement (search for similar items in EconPapers)
JEL-codes: O32 (search for similar items in EconPapers)
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.intechopen.com/chapters/87192 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ito:pchaps:310377

DOI: 10.5772/intechopen.111820

Access Statistics for this chapter

More chapters in Chapters from IntechOpen
Bibliographic data for series maintained by Slobodan Momcilovic ().