Innovation in the Business Sector: Where There's a Will There's a Way. Managers’ Perception of Science and R&D and Firms’ Engagement in Innovation
This research considers the hypothesis that firms’ propensity to undertake innovation activities is linked to variables related to their perception of science, their appraisal of the benefits and risks of R&D investing, and their attitude towards the role science plays within the firm, besides their economic and structural characteristics. We explore an empirical approach to studying the implications of managers’ perceptions and attitudes towards science and R&D on firms’ engagement in innovation. Research is based on the survey ‘Scientific culture, perception and attitudes towards science and innovation in the business sector’. Results evidence that corporate innovation decisions are not just a matter of money, and confirms the combined effect of a firm’s economic characteristics and perception of science on innovation engagement. Results confirm that managers’ attitude towards science and R&D is related to firms’ commitment to innovation, suggesting that their attitudes and behaviour in relation to science and investment in R&D should be given a more prominent role in S&T and innovation studies and in developing models of innovation in the future. This study provides some important implications for the management of innovation in the business sector. It stresses that innovation is related with managers having a perception of science and R&D that paves the way for the allocation of a firm’s resources to activities oriented towards knowledge generation and innovation. The results obtained here are still important regarding the way to address possible initiatives aimed at encouraging innovation in the business sector.