What is the relationship between degree of innovation and profit?
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Answer:
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Explanation:
Answer:
Innovation is widely regarded as one of the most important sources of sustainable competitive advantage in an increasingly
changing environment, because it leads to product and process improvements, makes continuous advances that helps firms to
survive, allows firms to grow more quickly, be more efficient, and ultimately be more profitable than non-innovators. The main
purpose of this study is to examine the relationships between innovation and firm performance. The survey of this study is
conducted on top level managers of 113 firms operating in the automotive supplier industry which is one of the most innovative
industries in Turkey, as of the year 2011. The obtained data from the questionnaires are analyzed through the SPSS statistical
package program. Analysis results demonstrated that technological innovation (product and process innovation) has significant and
positive impact on firm performance, but no evidence was found for a significant and positive relationship between non-technological innovation (organizational and marketing innovation) and firm performance.
Explanation:
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