Effective Innovation Strategy Research Articles

The effects of innovation strategy and good corporate governance on sustainable company performance: The mediating role of value chain

This research investigates how value chains mediate the relationship between innovation strategies and GCG to company performance. The research method used in this study uses an explanatory quantitative approach. The sample used in this study was 60 manufacturing companies in Indonesia. Each questionnaire represents a manufacturing company as a respondent in the survey. Primary data from survey distribution results that passed a validity and reliability test were used in this study. The data obtained were tested using Partial Least Square (PLS). The results show that the value chain acts as a mediator for the influence of innovation strategies and GCG on company performance.

Want An Innovative Company? Build An Effective Innovation Strategy

There is growing interest in the global marketplace on innovation. For example, Tesla dominates Electric Vehicle (EV) sales but is losing market share to more affordable EVs from competitors, including Ford and Hyundai. A recent Forbes article captures the innovative momentum today, “With the rapid pace of technology, innovation is making SpaceX moon voyages and other grandiose concepts that seem to be part real or part science fiction.” If possible, organizations should always look for new innovations so that they can remain competitive. Recent critical findings suggest that the pressure to innovate exists not only to create but also to cut costs and right size. The mystery of how to reduce staff, cut costs, and right size remains a myth. Employees and leaders in these organizations strongly believe in the power of this innovation strategy to better manage their organizational knowledge but by doing so they feel that they may be usurped. To effectively implement an effective innovation strategy, inquisitive minds and continuous improvement have to be the organizational mantra.

The impact of R&D subsidies on firm innovation in different supervision situations: analysis from pharmaceutical companies in China

ABSTRACT New inventions can increase productivity, accelerate the creation of new profits, and provide lucrative growth potential. Using a fixed effect model, this article examines the influence of government innovation subsidies and tax rebates on the R&D production of pharmaceutical companies from 2010 to 2020. It also assesses the moderators of institutional investors, audit agencies, and public opinion in monitoring. The research finds that government innovation subsidies and tax rebates have a significant impact on pharmaceutical enterprises’ R&D outputs. Second, institutional shareholding and public opinion supervision can increase government innovation subsidies and tax breaks for pharmaceutical R&D. SOEs are more susceptible to innovation subsidies, while non-SOEs benefit from tax rebates. This study assists managers and policymakers develop effective innovation strategies.

Havacılık Sektöründe İnovasyon Stratejilerinin Etkileri

As a result of increasing aviation activities, enterprises need to create innovations in the products and services they produce in order to maintain their market share and ensure the sustainability of the enterprises. When these innovations are turned into strategic plans for businesses, they guide businesses to adapt to changing conditions in the aviation sector, which has a high uncertainty environment. In this sense, the projection of the strategies created in the enterprise to all departments and the adoption by all personnel is a measure taken against the risks that may occur in the enterprise. In the study, the effects of innovation strategies on the Turkish Civil Aviation sector were examined. In this review, the development of innovation strategies from the past to the present is explained, and the types of innovations, innovation strategies and innovation models that can be selected in accordance with the business structures are mentioned. The contributions of innovation strategies to the aviation sector have been examined. In the study, the service process in aviation is explained by mentioning the aviation industry. In this sense, it is explained in which areas innovation strategies are used in the aviation service process; the effects of performance improvement, employee motivation and customer satisfaction in enterprises are explained. According to the results of this study, it is found out that the effects of innovative movements applied in the aviation sector on employee motivation, business performance and customer satisfaction are positive and provide profit maximization advantage to enterprises in the long term.

Exploration vs. Exploitation: How Innovation Strategies Impact Firm Performance and Competitive Advantage

Abstract In today’s economy, companies face the challenge of turbulent environments, which are characterized by rapid change, uncertainty, and unpredictability. Thus, for companies, these environments can be a double-edged sword because they can be responsible for rapid development opportunities and threats that can lead to organizational obsolesce. Businesses can lose their competitive advantage rapidly if they do not adapt to environmental changes, therefore, companies need to reinvent themselves by either exploiting available capacity or exploring new capabilities. Innovative activities are beneficial for improving organizational vitality, but it is not clear how can be designed an effective innovation strategy and a system, that can respond to environmental changes both externally and internally. Ambidextrous innovation can be a relevant solution to this problem because it gives companies the opportunity to counteract the loss of competitive advantage by using a mix of innovative exploratory strategy and innovative exploitative strategy. Nowadays, ambidextrous innovation theory has been widely adopted by researchers to explain how is formed the mechanism of organizational performance and competitive advantage. According to researchers, this can be achieved by efficiently combining available, tangible, and intangible resources in the production and marketing of goods and services. The paper aims to clarify some aspects less addressed in the literature and to highlight the importance of innovative managerial strategies for using intangible resources to increase sustainable competitive advantage and company value, in terms of theoretical and empirical studies, conducted at national and international level. Thus, the author proposes a theoretical research model based on the premise that both the sustainable competitive advantage and the market value of a company can be influenced by the way intangible resources are used in innovative exploitation and exploratory strategies.

Acquisition for innovations? M&A intensity and intra-firm innovation reallocations

We investigate how M&A activities are used to allocate innovation resources within firm boundaries. We find that Chinese listed firms exhibit strong intra-firm innovation reallocation behaviors following M&A activities from 2007 to 2017. Specifically, they shift innovation activities to subsidiary firms. The intra-firm innovation reallocation concentrates on major restructuring and related-party deals. In addition, firms in the decline stage of life cycles are more likely to use innovation reallocation behaviors after M&A. Further analysis shows that the innovation reallocation behaviors are more visible in firms with low financial constraints, high product market competition, and low productivity. Besides, the innovation reallocation is value-enhancing for listed firms in general. Our findings highlight the intra-firm innovation reallocation as an effective innovation strategy.

Pre-Service Training of Elementary School Teachers for Organization of Inclusive Learning Environment

The paper highlights the ongoing challenges and barriers of training teachers to implement inclusive education in various types of schools. The study has identified theoretical aspects and the importance of professional training of future elementary school teachers to organize an inclusive educational environment. It has produced an analysis of the international and national legislative and normative documents that regulate and support inclusion in educational institutions of Ukraine. The author has performed a substantial analysis of scholarly texts and publications on the researched topic and defined the present challenges in psychological and pedagogical theory in historical and pedagogical context. Considerable attention is paid to the study of research of Ukrainian scholars on organization of education activities and use of innovative pedagogical technologies in the context of including persons with special educational needs and disabilities (SEND). Various aspects of training pre-service teachers for effective implementation of inclusive education have been outlined: individualization of instructing in an inclusive classroom, use of information and communication technologies, application of art and music therapy tools for special needs services and speech therapy activities for development of language and speech skills in preschoolers and elementary school students, organizational and methodological foundations of special education and rehabilitation settings of universities, teacher training institutes and colleges. It has been proved that the prerequisite for effective socialization and inclusion of students with special educational needs and disabilities (SEND) is the development and sustainability of a proper nurturing inclusive environment, and hence the multidisciplinary psychological and pedagogical support for students with SEND is vital. The emphasis is placed on the use of effective innovation strategies and practices, the development of a coordinated program of pre-service and in-service teacher training, mutual interaction and cooperation (local and international) in an inclusive educational community. It has been found that the creation of an effective inclusive educational environment in modern elementary schools is determined by the level of professional capacity and motivation of teachers to implement relevant tasks in practice.

ВЕКТОРЫ КОГНИТИВНОГО МОДЕЛИРОВАНИЯ В СИСТЕМЕ СТРАТЕГИЧЕСКОГО УПРАВЛЕНИЯ ИННОВАЦИЯМИ

In this article, the subject of study is cognitive modeling in the system of strategic innovation management. The purpose of the study is to create a holistic cognitive model in the structure of innovative development of the socio-economic system. The theoretical basis of cognitive modeling as a modern generation of tools to support the system of innovative development was studied. In a situation of uncertainty during the transition from a resource economy to an innovative one, the concept of cognitive modeling helps to select priority concepts of innovative development. The authors proposed a cognitive model of the strategic innovation management system; the areas and specifics of the implementation of this model are shown. The creation of an adequate cognitive model depends on many variables, including the definitions under study. The study used the methods of: definitional analysis, contextual analysis; systematization and classification of the material, as well as its structural and semantic description. The management and modeling of cognitive definitions is due to the presence of cause-and-effect relationships in innovative conceptual positions of the development of socio-economic systems. In the case of identifying a list of interrelated stages, including cognitive structuring and the allocation of the main blocks of research, cognitive modeling allows you to create an effective innovation strategy by identifying the best ways of development and eliminating unpromising proposals.

Workplace Violence against Hospital Workers during the COVID-19 Pandemic in Israel: Implications for Public Health.

Workplace violence (WPV) against healthcare workers, a serious public health problem with profound implications, has worsened during the COVID-19 pandemic. This study examined the incidence of different types of WPV in a public hospital in Israel during the pandemic and analyzes the factors associated with its occurrence. A cross-sectional study was performed via an online questionnaire with 486 workers at a government hospital in Israel. Data were collected about sociodemographic and occupational characteristics, exposure to different forms of WPV over the preceding six months, and the responsibility and reasons for WPV from the workers’ perspective. Approximately 71% of respondents were exposed to WPV and 64% perceived that WPV escalated during the pandemic. The prevalence of verbal/psychological and physical WPV were 69 and 11%, respectively. The main reason for WPV was frustration over long wait times (70%). The escalation during the pandemic can be attributed to patients’ or relatives’ anxiety and mental states following the onset of the COVID-19 pandemic (72%), an increase in waiting time since the pandemic began (54%), lack of hospital resources to care for everyone (45%), and the inability to visit critically ill relatives with COVID-19 (44%). Increased exposure to WPV was attributed to lower seniority, working in emergency or internal departments, and being a nurse or a doctor. The findings raise an urgent need to develop strategies to reduce WPV in hospitals at all levels: national, organizational, and individual. Further research could focus on the effectiveness of innovative strategies and interventions to prevent violence against healthcare workers.

Independent research and development, technology accumulation and innovation performance: Evidence from China's pharmaceutical manufacturing industry.

Technology accumulation plays a vital role in research and development (R&D) activities. This paper used technology accumulation as the threshold variable to construct a dynamic panel threshold model to explore the technology accumulation threshold effect of independent R&D on innovation performance of China’s pharmaceutical manufacturing industry over the period 1995~2019. The results show that the independent R&D of China’s pharmaceutical manufacturing industry had a significant promotion effect on innovation performance. However, it is constrained by the level of technology accumulation, showing a significant double threshold effect of technology accumulation. A moderate level of technology accumulation was more conducive to independent R&D to drive innovation performance, while lower or higher technology accumulation will weaken independent R&D promotion on innovation performance. This study provided insights for policymakers and managers in making effective innovation strategies.

Executive technical experience and corporate innovation quality: evidence from Chinese listed manufacturing companies

ABSTRACT This research empirically tests the impact of CEO technical experience on corporate innovation. Using A-share listed manufacturing companies during 2009–2018 as a research sample, we find that CEO technical experience positively affects the innovation quality of enterprises, and the impact is reflected in the breakthrough, originality, and value of innovations. After subdividing the CEOs’ technical experiences, we find that the higher the level of technical experience, the stronger the improvement of enterprise innovation quality. Compared with local technical experience, overseas technical experience has a stronger role in promoting innovation quality, and compared with non-academic technical experience, academic technical experience has a stronger role in promoting the quality of innovation. Further research finds that CEO technical experience has a stronger effect on the innovation quality of state-owned enterprises than non-state-owned enterprises, and it has a more significant effect on the innovation quality of high-tech enterprises. The research provides insights for managers and policymakers in creating and implementing effective innovation strategies.

ІНСТИТУЦІОНАЛЬНЕ ЗАБЕЗПЕЧЕННЯ СТАНОВЛЕННЯ ЗНАННЄВОЇ ЕКОНОМІКИ В УКРАЇНІ

In the author's article, the historical prerequisites and modern challenges of the institutional development of the knowledge-based economy, which appeared before Ukraine due to military actions on its territory, are highlighted.It is assumed that innovations provoke positive structural changes in the economy and society, affect the productivity of the economy, contribute to its competitiveness in the global environment and ensure sustainable rates of regional development in the future. The author notes that for many years there has been no effective innovation strategy in Ukraine that would be recognized and satisfy all categories of modern innovators and expert communities, and today, the war has every chance to finally destroy the remaining remnants of science and innovation. But he emphasizes that the reasons are important prerequisites for the wide implementation of innovations in modern society. Indicates that thanks to the analysis of opportunities for improving not only the technological processes of the production of goods and services, and the institutional structure of society, one can hope for the improvement of the system, state administration, modernization of productive forces, regional development and the legal field for all aspects of human life and civil society, which is our scientific search.The article notes that a distinctive feature of the new phase of technological development of mankind is increased attention to knowledge, as the latter increasingly manifests itself in the formof a direct productive force.The article states that in the conditions of the transition to the knowledge economy, a new generation of teachers should be trained, who should first of all master new technologies in the conditions of mass informatization of society.

Strategija otvorenih inovacija kao determinanta održive konkurentnosti preduzeća

In order for enterprises to be successful in their field, they must have an adequately defined and implemented innovation strategy. In today's business practice, enterprises that do not do this, run the risk of lagging behind their competitors. It is also important to define an effective open innovation strategy that will contribute to a greater competitive advantage of the enterprise. There are no generalized strategies that enterprises can implement, but guidelines that enterprises must follow and adapt to their own characteristics, strengths and weaknesses are given. The aim of this paper is to highlight the importance of accepting the model of open innovation for modern companies in order to achieve sustainable competitiveness of an enterprise.

Innovative strategies in business management

Every business, brand, company or organization innovates in one way or another in pursuit of various goals. The main reason most businesses fail to innovate is that they lack a clear innovation strategy. An effective innovation strategy makes the innovation process measurable. Innovative strategy promotes the development of innovative culture. Innovation greatly affects the development of new products or services, companies use different strategies to achieve this goal. Strategic thinking means the ability to make optimal business decisions based on available information. Without an innovation strategy, different parts of the enterprise can easily pursue conflicting goals, even if there is a clear business strategy. Understanding different innovation strategies can help determine which innovation strategy will be most effective. Therefore, the innovation strategy consists in making the right choice between several alternatives and strategies. To succeed in developing the best innovation strategy, the enterprise needs to identify the best innovation tools and develop the innovation infrastructure. In the process of developing an enterprise's innovative strategy, the following main stages can be distinguished. Formulating a clear goal and using the principles of a strategic approach. Conducting research on the target audience and leading competitors. Defining the value proposition. Evaluation and development of the main advantages. Creation of innovative systems and methods. Different types of innovative strategies used by enterprises can be distinguished. Product, service, process, technological, business model, marketing, architectural innovation, etc. The article formulates the main advantages of strategic innovation management, defines the stages of innovation strategy implementation, highlights the main types of innovation strategies.

How does the exclusive license stimulate firm’s subsequent innovation? The role of innovation financial input

We study the influence of an innovation policy tool, namely, an exclusive license on firm innovation. Based on an extensive dataset of Chinese high-tech firms, we show that exclusive licenses significantly promote firm innovation output. Further, from our results, we conclude that the most efficient duration of exclusive license policies on promoting innovation is roughly three years. Mechanism analysis also reveals that the positive effects of exclusive license on innovation come from stimulating firm innovation financial input. Our findings extend the literature on innovation drivers, and provide a useful reference for other emerging economies to formulate more effective innovation strategies.

Managing positional innovation in small food enterprises. The bakery industry

PurposeThe concept of positional innovation – as one of the four innovation types of the Francis and Bessant’s “4P’s” model – is an effective product innovation strategy for producers of mature and credence goods as food products are. Despite the acknowledgement as one of the major industries worldwide, positional innovations about the food products are underexplored in the managerial literature. To fill this gap, this paper first develops a theoretical analysis of the concepts. Then, by adopting a case-study research methodology, it discloses the way a bakery small enterprise manages positional innovation. Theoretical and practical implications are finally introduced and discussed.Design/methodology/approachAfter a literature review about the role and the characteristics of the positional innovation, the paper presents a case study of definition and implementation of managerial actions and initiatives driven by positional innovation. The aim is not to report on an inductive study, but to use this example as a picture to clarify theory and show how the various conceptual issues may be operatively applied and provide more contextual insights.FindingsIt emerges how a small food enterprise manages positional innovation to survive and compete in the national and international markets; the positional innovation sources are tapped into culture, social responsibility, tradition and other territorial assets of tangible and intangible nature, effectively combined to innovate the product perception and/or the utility in a use context.Originality/value“Non-technological”, simple products, like food, are underexplored and rarely seen as relevant context to investigate along the strategic and innovation management literature. Nonetheless, positional innovation is a perspective that values and credits the innovation efforts of small food products, revealing interesting managerial concepts and inspiring entrepreneurs and managers for activating and sustaining new strategies of innovation for their businesses.

PANDA as a Startup-Orientated Cooperative Innovation Strategy for the Chemical and Pharmaceutical Industry

Generating innovations is one of the key success factors of companies and organizations. To constantly create new innovations, an effective innovation strategy must be implemented by companies. Therefore, a variation of different strategic frameworks has been formulated. One framework which combines the idea of Open Innovation with startup-based interaction is the startup-orientated cooperative innovation (SOCI) strategy. The PANDA initiative of Fresenius University of Applied Science can be characterized as a coupled process of the SOCI framework. This paper presents the results of a survey, analyzing the impact of PANDA on the innovation strategies of the chemical and pharmaceutical industry based on the innovation attributes defined by the Oslo Manual 2018. The survey was used to compare 12 PANDA project evaluations implementing by European chemical and pharmaceutical companies. The main results of this study show that PANDA represents an effective tool to foster early-stage innovation development and indicates general effectiveness of SOCI strategies for chemical and pharmaceutical companies.

Innovation Strategy Development and Facilitation of an Integrative Process with an MCDM Framework

Abstract Drawing on the resource-based view, we propose a model to understand the roles of human capital, market and entrepreneurial orientation, absorptive capacity and ways to improve performance with an effective innovation strategy for hospitality development. We combine the Fuzzy Delphi Method, Decision-Making Trial and Evaluation Laboratory and analytic network process to demonstrate the interactions and relations among critical criteria by using data from 20 Taiwanese restaurant entrepreneurs obtained in 2015–2017. The positive effects of human capital, market orientation, entrepreneurial orientation and absorptive capacity on innovation performance are confirmed. These findings advance resource-based scholarship and highlight the value of understanding the relationship between a restaurant’s tangible and intangible resources for hospitality development.

The Impact of Innovation Strategy on the Financial, Social and Environmental Performance

The core purpose of this study is to investigate the effect of innovation strategy on financial, social and environmental performance of companies listed on the Tehran Stock Exchange (TSE). The information used is from 129 companies listed on TSE in different industries between 2011 and 2018 (1032 observations). In order to analyze the data, a multivariate regression test was used. The results showed a positive and significant relationship between innovation strategy on financial performance and environmental performance. Also, the relationship between innovation strategy and social performance has a positive but insignificant. Innovation tools are also among the few management tools that can have a positive impact on both financial performance and the company’s environmental performance. In this research, an attempt has been made to look at the idea of innovation from a financial point of view, and its results in the long run indicate the right choice of management to invest in the company’s research and development unit.

Technological innovation and productivity across Spanish regions

This article used a CDM three-stage structural model based on data from the Spanish technological innovation panel to analyse the differential impact of technological innovation on labour productivity in the three largest Spanish regions and the Spanish economy as a whole. Although a considerable number of studies have used national data to analyse this relationship, very few studies have done so using microdata at the regional level. The results suggest that in Andalusia and Madrid increases in labour productivity were only associated with the increased probability of product innovation, whereas in Catalonia they were only associated with process innovation. These results suggest a lack of convergence in business strategies to improve labour productivity in these regions. Therefore, business investment in R&D and public institution funding decisions on support for technological innovation should be aimed at improving these less effective innovation strategies for increasing labour productivity.