HI-TECH INNOVATION STRATEGIES AND THE MARKET LIFECYCLE

摘要

Innovation is at the heart of the firm's success. As the firm evolves along the market lifecycle, the nature and contribution of innovation change dramatically. At the beginning the emphasis is on product innovation, in mid cycle on new marketing and financial solutions, the concern being commercialization and growth. At maturity the focus shifts to production innovation and at the decline stage to financial innovation, the recycling the excess cash flows into other productive ventures.Using the concept of the market and organization lifecycle, this paper builds an explanatory and predictive model of the evolution of the core innovation as the market develops, matures and eventually declines.