Determinants of Innovation in the Company: Literature Review

Abstract

This article proposes a conceptual model to analyze the internal and external factors influencing innovation in companies. By examining the evolution of economic theories of innovation, from Schumpeter's individual-centered approach to a systemic and integrated paradigm, the model recognizes the growing importance of interactions and collaborations within various components of an innovation system. Through a narrative literature review, this article provides an enriched understanding of innovation within a broader and interconnected framework. The presented conceptual model distinguishes itself by integrating the intrinsic capabilities of the company, external influences, as well as knowledge flows within the innovation system, an aspect often overlooked in previous studies. It offers a solid foundation for future research and presents significant strategic implications for decision-makers and managers, thus highlighting its practical and theoretical utility.

Keywords: Innovation, innovation in the company, determinants of innovation, literature review.

Classification JEL: M31

Paper type: Theoretical Research