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An Innovative Firm: The Renova Case Study
Abstract
Understanding the factors that drive successful innovative firms is central for sustaining competitive advantages. Researchers argue that competitive advantages through innovation could be achieved by undertaking or developing new products or new processes (technological or organisational). Based on the literature reviewed, a model was developed to capture the nature of an innovative firm. The model was applied and validated. This chapter argues that innovation is possible where it would be less expected. The identification and exploitation of key innovation factors lead, when implemented, to innovative firms: those that continually provide the market with innovation. This chapter offers important insights into understanding the meaning of an innovative firm. It provides a good supporting case of a real company to help understand the various aspects of innovation within a mature commodity-producing industry.
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