Innovation and business performance
Turnbull, Jennifer and Slow, Jonathan and Richmond, Kenny (2019) Innovation and business performance. Fraser of Allander Economic Commentary, 43 (3). ISSN 2046-5378
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Abstract
Innovation is critical for business performance and is a key driver of productivity growth. Innovation can take many forms, including R&D, product and process development and elements of marketing and organisational change. This paper explores which types and combinations of innovation have the greatest impacts on business performance. Using data from the UK Innovation Survey, the paper explores the prevalence of innovation type before considering the impact on turnover, employment and productivity growth. The analysis considers size of business to assess any differential impacts at specific stages of growth. The analysis shows that product and/or process innovation are particularly effective in increasing business performance. Product and process innovation are the core of business growth and encouraging more businesses to be innovative remains a crucial policy direction, across all sizes of business.
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Item type: Article ID code: 70571 Dates: DateEvent23 October 2019PublishedNotes: This article was published alongside the Fraser of Allander Economic Commentary vol43 no3 2019. Subjects: Social Sciences > Economic Theory Department: Strathclyde Business School > Fraser of Allander Institute Depositing user: Pure Administrator Date deposited: 19 Nov 2019 10:41 Last modified: 03 Nov 2024 02:06 Related URLs: URI: https://strathprints.strath.ac.uk/id/eprint/70571