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Comprehensive Innovation and its Implications on New High-Tech Product Development

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  • Stelian BRAD

Abstract

Nowadays, innovation represents an essential ingredient within organizations for their survival in a strong competitive marketplace. Innovations emerging from R&D projects could represent key factors for the foundation of new businesses. Various supporting programs for establishing innovative start-ups within business incubators, as well as spin-offs within uni-versities are promoted by authorities at local and national levels. Statistics have shown that only a small percentage of these initiatives (around 30%) succeed to survive more than three years. There are various causes which keep the success rate only at this level, but a major one is the lack in understanding the complex nature of innovation by the people which initiate these businesses; they are mainly focused on technological innovation (product innovation). This paper is going to give a broader perspective on innovation, seeing it as an integrated model of product innovation, marketing innovation, production process innovation and business model innovation over their life-cycles. From this enhanced view of innovation, conse-quences on new product development are further analysed.

Suggested Citation

  • Stelian BRAD, 2007. "Comprehensive Innovation and its Implications on New High-Tech Product Development," Informatica Economica, Academy of Economic Studies - Bucharest, Romania, vol. 0(2), pages 18-25.
    • Handle: RePEc:aes:infoec:v:xi:y:2007:i:2:p:18-25
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    References listed on IDEAS

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    1. Paul Benneworth & David Charles, 2005. "University spin-off policies and economic development in Less successful regions: Learning from two decades of policy practice," European Planning Studies, Taylor & Francis Journals, vol. 13(4), pages 537-557, June.
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    Cited by:

    1. Christiana Müller & Stefan Vorbach, 2015. "Enabling Business Model Change: Evidence from High-Technology Firms," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 11(1), pages 53-75.

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