 Innovation Does Not Equal R&D. Strategic Innovation Profiles and Firm GrowthMikko Ketokivi and Jyrki Ali-Yrkkö No 1220, Discussion Papers from The Research Institute of the Finnish Economy Abstract: In this paper, we examine firm innovation and its link to firm growth. Instead of using the conventional conceptualization and operationalization of innovation in terms of the R&D budget, we use a more elaborate 12-dimensional conceptualization, which takes into account also the non-technological aspects of innovation. The 12-dimensional operationaliza-tion further enables the examination of strategic innovation profiles of individual firms. We find that different kinds of innovation activity all have effects on firm growth, but in different ways. R&D activity is important in that it leads to introduction of new products, but innovation in other dimensions – value chain strategy, brand, and distribution channels – is also linked to new product introduction. Value chain innovation is also related to the development and introduction of new services: innovation aimed at development and improvement of the customer experience in particular has a significant role in the development and introduction of new services. Keywords: Innovation; firm; growth; non-technical; technological; technical (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:rif:dpaper:1220 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in Discussion Papers from The Research Institute of the Finnish Economy Contact information at EDIRC. |
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