scholarly journals Innovation in the Era of IoT and Industry 5.0: Absolute Innovation Management (AIM) Framework

Information ◽  
2020 ◽  
Vol 11 (2) ◽  
pp. 124 ◽  
Author(s):  
Farhan Aslam ◽  
Wang Aimin ◽  
Mingze Li ◽  
Khaliq Ur Rehman
Keyword(s):  
Economic Growth ◽  
Competitive Advantage ◽  
Design Thinking ◽  
Corporate Strategy ◽  
Innovation Management ◽  
Business Environment ◽  
Innovation Ecosystem ◽  
Management Framework ◽  
The Absolute ◽  
Everyday Routine

In the modern business environment, characterized by rapid technological advancements and globalization, abetted by IoT and Industry 5.0 phenomenon, innovation is indispensable for competitive advantage and economic growth. However, many organizations are facing problems in its true implementation due to the absence of a practical innovation management framework, which has made the implementation of the concept elusive instead of persuasive. The present study has proposed a new innovation management framework labeled as “Absolute Innovation Management (AIM)” to make innovation more understandable, implementable, and part of the organization’s everyday routine by synergizing the innovation ecosystem, design thinking, and corporate strategy to achieve competitive advantage and economic growth. The current study used an integrative literature review methodology to develop the “Absolute Innovation Management” framework. The absolute innovation management framework links the innovation ecosystem with the corporate strategy of the firm by adopting innovation management as a strategy through design thinking. Thus, making innovation more user/human-centered that is desirable by the customer, viable for business and technically feasible, creating both entrepreneurial and customer value, and boosting corporate venturing and corporate entrepreneurship to achieve competitive advantage and economic growth while addressing the needs of IoT and Industry 5.0 era. In sum, it synergizes innovation, design thinking, and strategy to make businesses future-ready for IoT and industry 5.0 revolution. The present study is significant, as it not only make considerable contributions to the existing literature on innovation management by developing a new framework but also makes the concept more practical, implementable and part of an organization’s everyday routine.

scholarly journals Innovation indicators in the context of Romanian SMEs: A research agenda

2020 ◽  
Vol 14 (1) ◽  
pp. 149-158
Author(s):  
Ioana Alexandra Onea
Keyword(s):  
Economic Growth ◽  
Small And Medium Enterprises ◽  
Innovation Management ◽  
Descriptive Analysis ◽  
Business Environment ◽  
Regional Innovation ◽  
Actual Application ◽  
Medium Enterprises ◽  
Key Terms ◽  
Innovation Indicators

AbstractThe purpose of this paper is to present an overview of the theoretical connection between key terms such as innovation indicators and entrepreneurship, highlighting the main trends of innovative activities and practices in the context of Romanian small and medium enterprises. Innovation management has gained an increased interest nowadays since it provides tools for creating competitive advantage and economic growth for enterprises. In this sense, at global and European Union level, innovation indicators have been identified in order to measure the efficiency of innovation. In addition, innovation and entrepreneurship have been connected by scholars, since their application provides business opportunities. Starting from the Europe 2020 Strategy that has innovation as a pillar for reaching economic growth, the present study provides a descriptive analysis of the Regional Innovation Scoreboard 2019 report, followed by a comparative analysis of the European Innovation Scoreboard reports published in the last 5 years. The present paper contributes to the existing knowledge regarding the actual application of innovation indicators in Romanian SMEs. The paper provides an answer to the research questions, which focus on depicting what are the exact innovation indicators that characterize the activities of Romanian SME and what are the trends and weaknesses in the actual business environment in terms of innovative endeavors. This paper provides some recommendations in terms of improvement of innovative efforts for the enterprises that operate in the Romanian market.

scholarly journals Innovation and its importance in the context of a company’s marketing strategy

2021 ◽  
Vol 91 ◽  
pp. 01021
Author(s):  
Veronika Olexova ◽  
Martina Gogolova
Keyword(s):  
Marketing Strategy ◽  
Technological Progress ◽  
Corporate Strategy ◽  
Innovation Management ◽  
Business Environment ◽  
Secondary Findings ◽  
Basic Direction ◽  
Current Time ◽  
The Right ◽  
Basic Prerequisite

The current business environment is characterized by high competition between companies as well as global challenges and growing technological progress. Businesses must constantly adapt to changes in the business environment, changes in the market environment and the constantly changing requirements of customers. There are currently several tools and ways to respond to these changes. One of the most important areas can be considered corporate strategy, because it determines the basic direction of the company. An important area is also marketing, which affects the overall business activity. Determining the right marketing strategy has an important impact on the overall direction of the company. Another important element of the current time in the field of business is innovation, which can be considered a basic prerequisite for the success of the company. The issue of innovation management is currently one of the basic conditions for maintaining a market position and maintaining competitiveness. The aim of the article is to point out the theoretical basis of the corporate strategy, marketing strategy and the importance of innovation in business. Subsequently, based on secondary findings, we analyze available selected data related to innovation in Slovakia.

A Technology-Focused Framework for Integrating Knowledge Management into Strategic Innovation Management

2011 ◽  
pp. 435-457
Author(s):  
Marc Henselewski ◽  
Stefan Smolnik ◽  
Gerold Riempp
Keyword(s):  
Knowledge Management ◽  
Competitive Advantage ◽  
Real World ◽  
New Technologies ◽  
Innovation Management ◽  
Business Environment ◽  
Life Cycles ◽  
Technology Leadership ◽  
Strategic Innovation ◽  
Fast Pace

Today’s business environment is characterized by highly transparent markets and global competition. Technology life cycles are decreasing due to the fast pace at which development of new technologies is progressing. To compete in this environment, it is necessary to identify upcoming innovations and trends as early as possible to decrease uncertainty, implement technology leadership, and create competitive advantage. In a parallel development, the amount of information available is already vast and increasing daily. As a result of these developments, strategic innovation management has become increasingly challenging. The goal of our chapter is to investigate to what extent knowledge management technologies support and improve strategic innovation management to face the aforementioned problems successfully. Consequently, we will develop a characterization scheme which works as a framework for the subsequent evaluation of knowledge management technologies and apply this to a real-world case.

A Technology-Focused Framework for Integrating Knowledge Management into Strategic Innovation Management

2009 ◽  
pp. 306-328
Author(s):  
Marc Henselewski ◽  
Stefan Smolnik ◽  
Gerold Riempp
Keyword(s):  
Knowledge Management ◽  
Competitive Advantage ◽  
Real World ◽  
New Technologies ◽  
Innovation Management ◽  
Business Environment ◽  
Life Cycles ◽  
Technology Leadership ◽  
Strategic Innovation ◽  
Fast Pace

Today’s business environment is characterized by highly transparent markets and global competition. Technology life cycles are decreasing due to the fast pace at which development of new technologies is progressing. To compete in this environment, it is necessary to identify upcoming innovations and trends as early as possible to decrease uncertainty, implement technology leadership, and create competitive advantage. In a parallel development, the amount of information available is already vast and increasing daily. As a result of these developments, strategic innovation management has become increasingly challenging. The goal of our chapter is to investigate to what extent knowledge management technologies support and improve strategic innovation management to face the aforementioned problems successfully. Consequently, we will develop a characterization scheme which works as a framework for the subsequent evaluation of knowledge management technologies and apply this to a real-world case.

A Technology-Focused Framework for Integrating Knowledge Management into Strategic Innovation Management

2011 ◽  
pp. 164-186
Author(s):  
Marc Henselewski ◽  
Stefan Smolnik ◽  
Gerold Riemmp
Keyword(s):  
Knowledge Management ◽  
Competitive Advantage ◽  
Real World ◽  
New Technologies ◽  
Innovation Management ◽  
Business Environment ◽  
Life Cycles ◽  
Technology Leadership ◽  
Strategic Innovation ◽  
Fast Pace

Today’s business environment is characterized by highly transparent markets and global competition. Technology life cycles are decreasing due to the fast pace at which development of new technologies is progressing. To compete in this environment, it is necessary to identify upcoming innovations and trends as early as possible to decrease uncertainty, implement technology leadership, and create competitive advantage. In a parallel development, the amount of information available is already vast and increasing daily. As a result of these developments, strategic innovation management has become increasingly challenging. The goal of our chapter is to investigate to what extent knowledge management technologies support and improve strategic innovation management to face the aforementioned problems successfully. Consequently, we will develop a characterization scheme which works as a framework for the subsequent evaluation of knowledge management technologies and apply this to a real-world case.

scholarly journals Upgrade of Russian Industrial Corporations in The Conditions of Establishing a National Innovation Ecosystem

2019 ◽  
Vol 8 (3) ◽  
pp. 6701-6705
Keyword(s):  
Economic Growth ◽  
Innovation Policy ◽  
Industrial Sector ◽  
Business Environment ◽  
High Tech ◽  
Innovation Ecosystem ◽  
Market Participants ◽  
Domestic Technology ◽  
Industrial Enterprises ◽  
Russian Economy

The article presents comparative analysis results for the state of the business environment for innovation transformations in the Russian economy by comparing Russia’s positions with those held by world powers in leading international ratings that characterize conditions for economic growth and quality of economic growth. The article shows data pointing to positive changes in the country’s competitiveness and its critical lag in terms of global leadership in high-tech markets and labor productivity. In the article, the authors assess the condition and development trends in the national innovation ecosystem, with close attention paid to the analysis of interaction among major venture market participants, the discovery of factors, which encourage and prevent its development. The authors emphasize that major industrial groups are introverts when executing domestic technology projects and ignoring their opportunities of breaking onto the venture market. The authors accept arguments in favor of choosing major industrial enterprises as targets of innovation policy as producers of faster and more tangible innovation results. They substantiate whether the development of Russian industrial enterprises under the Industrie 4.0 model is adequate, describe tools, measures and the best practices to bring innovations to the industrial sector. They draw a conclusion that the Russian industrial sector’s innovation development is possible and urgent as a factor of solidifying the country’s economic strength.

scholarly journals Contributions of creative industry startups to the professionalization of this sector in Brazil

2021 ◽  
Author(s):  
Lara Alves Rosa Gomes ◽  
Alber Francisco Neto ◽  
Rafaela Landim Gomes Siqueira ◽  
Pompílio Guimarães Reis Filho
Keyword(s):  
Economic Growth ◽  
Best Practices ◽  
Growth And Development ◽  
Innovation Management ◽  
Creative Industry ◽  
Management Framework ◽  
Economic Growth And Development ◽  
Goods And Services ◽  
The World ◽  
Consumer Habits

Startups are changing consumer habits for goods and services around the world as quickly create and deliver value by solving society latent demands. In creative industry, startups are an important vector for the propagation of this movement, however, despite the vast Brazilian potential, there are several challenges related to the lack of training in management and innovation for this industry gain strength. Thus, this study aims to develop, apply and evaluate an innovation management framework based on the best practices of successful startups in the Brazilian creative industry. To this end, three macro research steps will be completed, initially the understanding of the explored context, then the first version of the product will be developed and, finally, the evaluation and improvement of the product will be carried out based on the feedbacks. As a result, it is expected to help the professionalization process of other startups and companies in this sector in Brazil, as this new economic model (creative, social and inclusive) has proved to be an exponent of economic growth and development around the world.

scholarly journals Competitive intelligence awareness in the South African property sector

2015 ◽  
Vol 4 (4) ◽  
pp. 581-589
Author(s):  
Tshilidzi Eric Nenzhelele
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Competitive Advantage ◽  
South African ◽  
Job Creation ◽  
Business Environment ◽  
Competitive Intelligence ◽  
The South ◽  
Global Competitiveness

The South African property sector contributes highly to job creation, alleviation of poverty and economic growth. Although South Africa has dropped in the global competitiveness ranking, the property sector of South Africa remains very competitive. To survive in a competitive business environment firms seek for tools that offer competitive advantage. It is widely reported the competitive intelligence provide firms with competitive advantage over rivals. Although the awareness of competitive intelligence has been examined in other sectors in South Africa, no study on the awareness of competitive intelligence has yet been conducted in the property sector. This study aims at establishing the extent to which property practitioners are aware of competitive intelligence.

scholarly journals The role of innovation potential in gaining competitive advantage in industrial companies

2020 ◽  
Vol 13 (4) ◽  
pp. 116-129
Author(s):  
Sattar Kadim Hachim Almrshed
Keyword(s):  
Competitive Advantage ◽  
Innovation Management ◽  
Business Environment ◽  
Management Tools ◽  
Industrial Firms ◽  
Industrial Companies ◽  
Innovation Potential ◽  
Innovative Capabilities ◽  
A Company

In today’s highly dynamic business environment, it is crucial to the growth and prosperity of a company to gain and retain a competitive advantage. Organizations need to develop unique competitive advantages to keep pace with the pace of change in technology and customer requirements. In this difficult task, organizations can benefit from innovation strategies and tools more than ever before, as they help companies improve their position in the market by increasing their performance and efficiency, and one of the strategically effective ways is to develop the innovative capabilities of a company. Our aim in this study is to clarify the role of innovative capabilities strategies in improving the performance of the organization and achieving a competitive advantage in the market. This article provides an up–to–date review of the existing literature in the field of innovation and innovative potential in order to identify the potential consequences of industrial firms gaining innovative capacity and their role in gaining a competitive advantage. This study will help managers and practitioners to understand the role of innovation management tools in gaining a competitive advantage through strategies for successfully assessing innovation potential.

The Importance of Knowledge Transfer to Industry

2016 ◽  
Vol 4 (1) ◽  
pp. 1-6
Author(s):  
Emília Madudová ◽  
Keyword(s):  
Literature Review ◽  
Competitive Advantage ◽  
Divergent Thinking ◽  
Business Environment ◽  
Point Of View ◽  
Creative Industry ◽  
Specific Knowledge ◽  
Creative People ◽  
Industry Needs ◽  
Firm Owners

The paper examines the specific knowledge universities transfer to industry, reflecting to creative industry needs. As results shows, the most asked alumni competences should be tacit knowledge and divergent thinking. Divergent thinking influence the creativity. Creativity is often defined as the ability to develop new and useful ideas, but in deep literature review, we can see few irregularities and different definitions of creativity. The paper also evaluates the importance of creativity from business environment point of view and from the creative industry perspective and creative firm owners. As point of view. Another key finding is, that to educate creative people will be one of the key competitive advantage, because mainly the ability to create and disseminate knowledge is often at the heart of the organization's competitive advantage not only in creative industry, but in transport industry as well.

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