Abstract
Introduction
Background Literature
Hypothesis Development
Conceptual Framework
Research Design
Data Analysis and Results
Discussion of the Results (TISM Model)
Conclusions
Funding
References
Abstract
This paper explores the infuence of innovation approaches on innovation performance and frm performance among Indian biotechnology frms. Further, it aims to discuss the interceding role of innovation performance between innovation practices and frm performance. A criteria-based snowball sampling method was adopted for data collection. The collection of data was carried out using a web survey from 200 biotechnology frms located across India. The data is analysed using a covariance-based structural equation modelling (SEM) technique. The results indicate that the adoption of innovation practices positively infuences the frms’ innovation and overall performance. Furthermore, the results confrm the mediating role of innovation performance between innovation approach adoption and frm performance. Firms, particularly from the biotechnology industry, can use these results to assess their performance and formulate or modify their strategy to improve their innovation and overall performance.
Introduction
The perception that innovation created by the businesses themselves is based on the closed innovation concept. This innovation occurs entirely within the companies, starting from idea creation to idea development and making it specifcallydefned within the company limits. Certain factors need to be considered to establish closed innovation in an organization efectively. Closed innovation puts exceptionally high demands on employees, and the organization plans to hire more skilled staf. Moreover, the company must protect its intellectual property (Chesbrough & Euchner, 2011).By convention, frms heavily focused on closed innovation practices (development of patents, intellectual rights through internal research and development) to gain a competitive advantage (Chesbrough & Euchner, 2011).