A New Perspective in the Evolution of Innovation Models Through Literature Review

Abstract

The new competitive scenarios in an economic environment characterized by globalization require constant adjustment of business strategies to generate new forms of managing organizational resources to promote innovation and the development of distinctive skills, and consequently achieve greater levels of competitive advantage and economic growth. This entails that companies must recognize the strategic value of innovation and incorporate innovation models into their management practices. This paper describes the last decade's evolution from a wide diversities of approaches regarding innovation models found in the review of the literature to determine how businesses may incorporate innovation models as a source of competitive advantage. A review of the literature was conducted by using the Scopus database to synthesize and analyze existing publications, particularly the conceptual frameworks in the innovation models proposed by researchers. The results obtained demonstrate the existence of key elements proposed for the development of innovative models, and the need to implement cyclical, ecological and dynamic innovation models to strengthen innovation management improving firms' adaptability in the technological environment. This paper his paper contributes to a growing body of literature and providing insight into how the joint of a new typology of innovation models creates a new perspective and provides an interesting and useful combination of conceptual frameworks for the development of innovation as a continuous process in management innovation models in organizations.