Innovation Orientation and Performance in Industrial Markets

Abstract

The contribution of innovation to corporate survival and growth is an accepted notion in much of management. Typologies of strategic orientations of companies based on innovation have been developed and analyzed. Most of these typologies focus on a single dimension of innovation. This study, using the PIMS database, develops innovative types from multiple dimensions of innovation and examines their performance. Results suggest that these types have different performance levels some of which confirm findings based on other typologies. Major implication in terms of performance is that great care must be taken in accepting innovation’s contribution. In particular the type of contribution or outcome needs to be examined carefully.