Process innovation: requirements and opportunities
Purpose. The purpose is to assemble the list of the most important requirements and opportunities of process innovation through the analysis of the main and most recent scholarly developments related to the study of process innovation.
Design/Method/Approach. Systematic literature review.
Theoretical implications. In outlining the requirements and opportunities of process innovation, this article builds a foundation for understanding process innovation and an introduction to terms and ideas related to process innovation. From such foundation, scholars can further develop the study of process innovation and the understanding of the main factors that contribute to its success.
Practical implication. Process innovation is linked to a high failure rate (between 50% - 80%), which acts as a deterrent for many managers and companies. Through understanding the requirements and opportunities of process innovation, managers can intelligently decide whether it is best for their company to pursue or avoid process innovation.
Originality/Value. Articles have shared, in small parts, the requirements and opportunities of process innovation, but this article is original due its listing of the most important requirements and opportunities of process innovation.
Research limitations/Future research. This article shares the requirements and opportunities of process innovation, but it does not rank or list either the requirements or opportunities based on their importance to process innovation. Additionally, this article does not quantitatively assess the requirements and opportunities importance to process innovation. Future research can rank the requirements and opportunities of process innovation based on their contribution to the success and/or failure of process innovation within a firm or an industry.
Paper type – conceptual.
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