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Globalization and Innovation

In: Innovation and Product Management

Author

Listed:
  • Kurt Gaubinger

    (Upper Austria University of Applied Sciences)

  • Michael Rabl

    (Upper Austria University of Applied Sciences)

  • Scott Swan

    (The College of William & Mary)

  • Thomas Werani

    (Johannes Kepler University Linz)

Abstract

Companies go abroad to interact with the most demanding customers, the best suppliers and the leading research environments so they can learn how to compete in new markets for their technologies. Corporate R&D is increasing rapidly in countries outside the domestic market especially for customization of technologies to suit local market conditions. There is an ongoing transition from an internal knowledge base to increasingly open and globally distributed knowledge networks. The benefits of global designs include influencing consumer preferences, establishing global brands and dominant designs, anticipating emergent segments, leveraging existing knowledge, and improving firm performance. As a result, global product designs are being increasingly sought by companies. With the increasing speed of innovation, the world scale of many new technologies and the ability to acquire and to apply knowledge quickly in uncertain environments is an essential characteristic of a firm’s success.

Suggested Citation

  • Kurt Gaubinger & Michael Rabl & Scott Swan & Thomas Werani, 2015. "Globalization and Innovation," Springer Texts in Business and Economics, in: Innovation and Product Management, edition 127, chapter 11, pages 259-281, Springer.
    • Handle: RePEc:spr:sptchp:978-3-642-54376-0_11
    DOI: 10.1007/978-3-642-54376-0_11
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