Abstract
Benefits of innovation in business can include efficiencies, growth, and increased competitive advantage, as well as enhanced reputation. Technology companies that create new products or improve existing ones have numerous advantages over companies that simply produce traditional products and services that are not very innovative or cutting edge. In general, innovative strength is associated with multiple factors such as technology transfer, innovation management, leadership, and strategic planning. This study investigates the relative complexities of these factors and their effect on the innovation processes. A comprehensive literature review was conducted to recognize the complexities of these factors as well as to build a research model. The validity of the model was determined using structural equation modeling (SEM). The results of this study will enhance the understanding of the effect of technology transfer and other factors on the innovation processes.
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