Abstract

Due to the pressure of global competition, shortened product-life cycles and the increasing opportunity to imitate product designs or their elements, companies continuously focus on innovations as one of their main agenda in order to maintain their global or national competitiveness. Besides, these innovations are considered as an ultimate source of productivity improvement, the growth in sales volume, and the capability of a company in question to stay competitive on the global market (Liao, Hu, Chen, & Lin, 2015). Companies perceive the need to continuously adapt, develop, and innovate as an economic necessity that results from global market pressures. The enhancement of product design and quality, accessorial technological services, their accessibility and reliability are no longer only seen as a benefit but rather an ultimate condition for the sustainability of company competitiveness.

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