Researchers from the Universidad Internacional Iberoamericana (International Iberoamerican University, UNIB), including Dr. Roberto Álvarez and Dr. Yini Miró, identify the factors that impact business innovation and evaluate the impact of innovation on business performance.
Innovation is an essential aspect for the development of companies and is a sign of their willingness to prosper. It is also necessary to meet the needs of a constantly growing population.
On the other hand, international competition has driven companies to seek better business strategies, mainly those related to innovations to occupy a better place in the market or to explore new markets and obtain greater competitive advantages over their rivals. It also increases the efficiency and profitability of companies.
Considering the relevance of innovation, this research has proposed a framework of analysis that is divided into two stages to evaluate the impact of various factors on business innovation. It also analyzes how business innovation influences the performance of Pakistani companies.
The analysis of the impact of innovation on a company's performance is very important since it can be useful for professionals in charge of decision-making at the corporate level to determine what aspect they should pay special attention to if they are looking for innovation.
Research results
In the first stage, it was determined that research and development have a positive influence on product and process innovation. Likewise, the size of the company does not influence the product or the process of the companies. In the second stage, the results show that product innovation and organizational innovation have a great impact on the company's performance.
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For further research, check the UNIB repository.
Finally, the Universidad Internacional Iberoamericana (UNIB) offers the Master in Strategic Management with a Specialty in Management. The purpose of the program is to train professionals in the field and practice of strategic management, developing their skills to assume managerial positions or in the field of organizational consulting.