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Innovativeness has become a crucial factor contributing to the firms success, and several factors enable it. First of all, innovations are promoted by knowledge and information, which have become a resource of vital importance (Nair et al., 2016). Indeed, todays science and technology experience unprecedented development rates. The second factor comes from the opposite direction, as innovations can emerge both within and outside organizations. Customers are capable of expressing their views of the product, and successful companies devote increasing attention to this feedback. As a result, when demand for innovation appears, the supply can adjust accordingly. Finally, innovativeness can be instigated by global political and economic processes, which are particularly strong today. Overall, the three factor groups exist in an interrelated system, forming the complex business environment of the 21st century.
Reference
Nair, S., Pillai, K. G., Hirekhan, M., & Budhwar, P. (2016). Innovativeness of Indian firms Catalysts and deterrents. In H. Shipton, P. Budhwar, P. Sparrow, & A. Brown. (Eds.), Human resource management, innovation and performance (pp. 97-114). London: Palgrave Macmillan.
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