Economic globalization has promoted the increase of goods and services in the different parts of the world. These previous regions, which were unrelated from one another, are now linked thanks to the different companies that have entered. Today, companies from North America may be competing with companies from the Pacific in a certain market in a new country. The latter phenomenon has increased the world's competitiveness.
Technological advances can improve the production of a certain product, decrease its cost of production or even create new types of products. Consequently new markets have emerged. New information systems have helped increase companies' efficiency supply management. Transportation improvements have decreased the time needed and cost for transporting a certain good to another location. Political changes or events may change dramatically the economic situation of the country.
[...] In some cases, companies who know that they will not be able to protect their innovation will then hesitate to do so. Thus poses the question: how to protect these innovations? There are many legal methods of protection such as patents, trademarks, copyrights and so on. There are other unofficial methods of protection such as mutual secrecy agreements between 2 different parties. CONCLUSION The OECD showed the different types of innovation that a company could do in order to reach its objective. The term innovation is very close to the word change. [...]
[...] The main difference between these two types of innovation is that one can make a quite substantial change while the other lies in the fact that there are small but numerous changes. - Product Innovation Product innovation is the insertion of a good service that is new or has seen its functionality improved thanks to a technological innovation. In some cases, a product innovation is the fruit of the uses of several different knowledge and technological innovations. Consequently product innovation greatly depends on the global technological advancement. This type of knowledge is copy-able and has higher chances of success. [...]
[...] Indeed it can range from innovations in technology, product, organizational, structural etc. Secondly, we will determine which reasons could push a company to choose one of these types of innovations? In addition to that, we will see the effects and the sectors that are involved is such change. Lastly, we will see the obstacles and the limits that a company has to face when they employ innovation strategies. PART ARE THERE OTHER TYPES OF INNOVATION? Generally speaking, when people think of innovation, there is a direct association to product innovation. [...]
[...] The report speaks of the impacts of process innovation on costs and employment. Indeed as previously stated in the paper, a process innovation will have an effect, whether it is positive or negative, on costs and employment. In addition to turnover, we could also observe the company's competitors, if their results are decreasing due to the increasing ferocity of competition, we could say that the innovation has had something to do with it. - Turkish Study 4 different Turkish economists, Gurhan Gunday, Gunduz Ulusoy, Kemal Kilic, and Lutfihak Alpkan, did a research on the relationships between the different types of innovation and its effects in the Turkish manufacturing industry. [...]
[...] Design improvements could be considered as a product innovation but not the whole time. For example, a new design that does not improve the performance of the product is not a considered as one. For example, the aerodynamic design of an F1 could be considered as a product innovation because the shape of the car allows it to go faster. When the design change does not improve the functioning of the product, it will be considered as a marketing innovation. [...]
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