Strategic capabilities and innovation
Innovation is undoubtedly one of the most crucial strategic levers available to the firm. As firms are moving out of the difficult economic period brought on by the collapse of the dot.com bubble, innovation, it appears, is being “rediscovered.” Many firms are now poised to venture beyond measures that are focused purely on retrenchment and cost reduction to embrace innovation as the engine for driving their new business growth. Innovation, however, is intimately linked with the firm’s capabilities and ability to mobilize new knowledge through learning. The grouping of innovation, capabilities, and organizational learning is growing more important as business environments change more rapidly and the production of new knowledge accelerates as never before.
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