We believe that innovation (which type?) is…
We believe that innovation (which type?) is necessary for firms regardless of size to survive and be competitive due to increasing global competition.
According to the RICS framework, incremental innovations in product creates a sense of continuity and comfort in consumers. However, prolonged incremental iterations can lead to boredom and eventually consumer defection (Heath, Chatterjee, Basuroy, Hennig-Thurau, & Kocher, 2015). Therefore, our key contention is that it is important and necessary for firms to carefully sequence and implement different types of innovation (incremental and/or radical) to remain competitive in the global market.