Formation of the Innovative Potential of Companies: the Result of Systematization and Generalization of Basic Research

Keywords: innovative potential, companies, approaches, resources, formation

Abstract

The theoretical aspects of the formation of innovative potential of companies are summarized. The purpose of the article is to substantiate theoretical and methodological approaches to the formation of innovative potential of companies based on systematization and generalization of fundamental scientific works. The study of literature indicates the need to ensure a systematic vision of the specified scientific problem at a qualitatively new level. The relevance of the article is determined by the need to develop scientifically based approaches to the formation of the innovative potential of companies. The essence of categorical concepts and characteristics of innovative potential is investigated. The economic essence of the innovative potential of companies and the features of its formation are determined. The conceptual apparatus characterizing the conceptual approach to innovation has been developed and supplemented. A systematic approach to the formation of the innovative potential of the company based on determining the structure of innovative resources of the company is considered. The resource aspects of the formation of the innovative potential of companies based on integrated, industry, factor, effective and combined approaches are considered. It is proved that the quality of innovative potential is determined not only by the size of certain resources, but also by their balance, the presence of optimal proportions between them. A review of the conditions for the formation of innovative potential and the features of its implementation are made. Improved methodological approaches to the formation of the innovative potential of the company based on the mechanism of rational decomposition of the elements of innovative potential. The stages of the formation of innovative potential of companies are considered. The factors stimulating the innovative activity of companies and the factors that limit them are identified and analysed. The terminological apparatus of scientific research has been expanded, which allows to optimize the complex of existing approaches to the formation of innovative potential of companies. The practical value of the research results is due to the need to improve innovative processes in companies by improving the mechanisms and methods of forming their innovative potential. Theoretical provisions and conclusions can be used to address issues related to the innovative development of business processes in companies and the management of their production activities.

References

Landry, R., Amara, N. & Lamari, M. (2000). Does Social Capital Determine Innovation? To What Extent? Technological Forecasting and Social Change, 69 (7), 681–701. https://doi.org/10.1016/S0040-1625(01)00170-6.

Malerba, F. (1992). Learning by Firms and Incremental Technical Change. Economic Journal, Royal Economic Society, 102 (413), 845–859. https://doi.org/10.2307/2234581.

Karim, S. (2009). Business Unit Reorganization and Innovation in New Product Markets. Management Science, 55 (7), 1237–1254. July. https://doi.org/10.1287/mnsc.1090.1017.

De Bresson, C., Amesse, F. (1991). Networks of Innovators: A Review and Introduction to the Issue. Research Policy, 20 (5), 363–379. https://doi.org/10.1016/0048-7333(91)90063-V.

Foray, D. (2000). Characterizing the Knowledge Base: Available and Missing Indicators. In: OECD, Ed., Knowledge Management in the Learning Society (pp. 239–257), OECD, Paris.

Brem, A., Maier, M. & Wimschneider, C. (2016). Competitive Advantage through Innovation: The Case of Nespresso. European Journal of Innovation Management, 19 (1), 133–148. https://doi.org/10.1108/EJIM-05-2014-0055.

Hwang, Y. S., Hwang, M. H. & Dong, X. (2015). The Relationships Among Firm Size, Innovation Type, and Export Performance With Regard to Time Spans. Emerging Markets Finance and Trade, 51 (5), 947–962. https://doi.org/10.1080/1540496X.2015.1061386.

Prokop, V., Stejskal, J. & Kuvíková, H. (2017). The Different Drivers of Innovation Activities in European Countries: A Comparative Study of Czech, Slovak, and Hungarian Manufacturing Firms. Ekonomicky Casopis, 65 (1), 31–45.

Bidault, F., Cummings, T. (1994). Innovating through Alliances: Expectations and Limitations. R&D Management, 24 (1), 33–45. https://doi.org/10.1111/j.1467-9310.1994.tb00845.x.

Archibugi D., Planta M. (1996). Measuring Technological Change through Patents and Innovation Surveys. Technovation, 16 (9), 451–468. https://doi.org/10.1016/0166-4972(96)00031-4.

Om Narasimhan, Surendra Rajiv & Shantanu Dutta (2006). Absorptive Capacity in High-Technology Markets: The Competitive Advantage of the Haves. Marketing Science, INFORMS, 25 (5), 510–524. https://doi.org/10.1287/mksc.1060.0219.

Dierickx Ingemar, Cool Karel (1989). Asset Stock Accumulation and Sustainability of Competitive Advantage. Management Science, 35 (12), 1504–1511. Available at SSRN: https://ssrn.com/abstract=1504475; https://doi.org/10.1287/mnsc.35.12.1504.

Jaffe, Adam B. (1986). Technological Opportunity and Spillovers of R&D: Evidence from Firms’ Patents, Profits, and Market Value. American Economic Review, American Economic Association, Vol. 76, Issue 5, pp. 984–1001. https://doi.org/10.3386/w1815.

Jones Charles, I. (1995). R&D-Based Models of Economic Growth. Journal of Political Economy, University of Chicago Press, 103 (4), 759–784. https://doi.org/10.1086/262002.

Basant, R., Fikkert, B. (1996). The Effects of R&D, Foreign Technology Purchase, and Domestic and International Spillovers on Productivity in Indian Firms. The Review of Economics and Statistics, 78 (2), 187–199. https://doi.org/10.2307/2109920.

Coe, D. T., Helpman, E. (1993). International R&D Spillovers, NBER Working Papers 4444, National Bureau of Economic Research, Inc.

Jaffe, Adam B., Trajtenberg, M. & Henderson, R. (1993). Geographic Localization of Knowledge Spillovers as Evidenced by Patent Citations. The Quarterly Journal of Economics, 108 (3), 577–598. https://doi.org/10.2307/2118401.

Crиpon, B., Duguet, E. & Mairesse, J. (1998). Research, Innovation and Productivity: An Econometric Analysis at the Firm Level. Economics of Innovation and New Technology, 7 (2), 115–156. https://doi.org/10.3386/w6696.

Zvi, Griliches. (1979). Issues in Assessing the Contribution of Research and Development to Productivity Growth. Journal of Economics. The RAND Corporation, 10 (1), 92–116. Spring.

Milgrom, P., Roberts, J. (1995). Complementarities and Fit: Strategy, Structure and Organizational Change in Manufacturing. Journal of Accounting and Economics, 19 (2–3), 179–208. https://doi.org/10.1016/0165-4101(94)00382-F.

Piva, M., Vivarelli, M. (2007). Is Demand-Pulled Innovation Equally Important in Different Groups of Firms? Camb J Econ. Cambridge. Journal of Economics, 31 (5), 691–710. https://doi.org/10.1093/cje/bem010.

West, J., Bogers, M. (2014). Leveraging External Sources of Innovation: A Review of Research on Open Innovation. Journal of Product Innovation Management, 31 (4), 814–831. https://doi.org/10.1111/jpim.12125.

West, J., Salter, A., Vanhaverbeke, W., Chesbrough, H. (2014). Open Innovation: The Next Decade: The Next Decade. Research Policy, 43 (5), 805–811. DOI: https://doi.org/10.1016/j.respol.2014.03.001.

Ali, A. (1994). Pioneering Versus Incremental Innovation: Review and Research Propositions. Journal of Product Innovation Management, 11 (1), 46–61. https://doi.org/10.1016/0737-6782(94)90118-X; https://doi.org/10.1111/1540-5885.1110046.

Caves, R. E. (1998). Industrial Organization and New Findings on the Turnover and Mobility of Firms. Journal of Economic Literature, 36 (4), 1947–1982. Available at SSRN : https://ssrn.com/abstract=1506377.

Branzei, Oana, Vertinsky, Ilan (2006). Strategic Pathways to Product Innovation Capabilities in Smes. Journal of Business Venturing, 21 (1), 75–105. Available at SSRN : https://ssrn.com/abstract=1503207; https://doi.org/10.1016/j.jbusvent.2004.10.002.

Lööf, H., Heshmati, A. (2003). On the Relationship between Innovation and Performance: A Sensitivity Analysis. Economics of Innovation and New Technology, 15 (4–5), 317–344. https://doi.org/10.1080/10438590500512810.

Lokshin, B., Belderbos, R., Carree, M. (2006). Complementarity in R&D Cooperation Strategies. Review of Industrial Organization, 28 (4), 401–426. https://doi.org/10.1007/s11151-006-9102-z.

Cassiman, B., Veugelers, R. (2006). In search of Complementarity in the Innovation Strategy: Internal R&D and External Knowledge Acquisition. Management Science, 52 (1), 68–82. https://doi.org/10.1287/mnsc.1050.0470.

Bresnahan, T., Brynjolfsson, E., Hit, L. M. (2002). Information Technology, Workplace Organization, and the Demand for Skilled Labor: Firm-Level Evidence. Quarterly Journal of Economics, 117 (1), 339–376. https://doi.org/10.3386/w7136.

Pavitt, K. (1984). Sectoral Patterns of Technical Change: Towards a Taxonomy and a Theory. Research Policy, 13 (6), 343–373. https://doi.org/10.1016/0048-7333(84)90018-0.

Pisano, Gary P. (1990). The R&D Boundaries of the Firm: An Empirical Analysis. Administrative Science Quarterly, 35 (1), 153–176. https://doi.org/10.2307/2393554.

Murovec, N., Prodan, I. (2009). Absorptive Capacity, its Determinants, and Influence on Innovation Output: Cross-Cultural Validation of the Structural Model. Technovation, 29 (12), 859–872. https://doi.org/10.1016/j.technovation.2009.05.010.

Forsman, H. (2011). Innovation Capacity and Innovation Development in Small Enterprises. A Comparison between the Manufacturing and Service Sectors. Research Policy, 40 (5), 739–750. https://doi.org/10.1016/j.respol.2011.02.003.

Dewar, R. D., Dutton, J. E. (1986). The Adoption of Radical and Incremental Innovations: An Empirical Analysis, Management Science, INFORMS, 32 (11), 1422–1433. https://doi.org/10.1287/mnsc.32.11.1422.

Brem, A., Radziwon, A. (2017). Efficient Triple Helix Collaboration Fostering Local Niche Innovation Projects–A Case from Denmark. Technological Forecasting and Social Change, 123, 130–141. https://doi.org/10.1016/j.techfore.2017.01.002.

Cappa, F., Del Sette, F., Hayes, D., Rosso, F. (2016). How to Deliver Open Sustainable Innovation: An Integrated Approach for a Sustainable Marketable Product. Sustainability, 8 (12), 1341. https://doi.org/10.3390/su8121341.

Fosfuri, A., Tribó, J. A. (2008). Exploring the Antecedents of Potential Absorptive Capacity and its Impact on Innovation Performance. Omega, Elsevier, 36 (2), 173–187. https://doi.org/10.1016/j.omega.2006.06.012.

Published
2020-02-25
Section
Economics and enterprise management