CHAPTER 1

Thinking Out of the Box

Overview

Globalization has driven competition and new challenges among firms to sustain in the marketplace. The innovation business projects in most companies follow a boom-bust cycle. As the economy prospers, companies invest substantial resources in developing innovation projects to lead in the competitive markets, while they rethink their priorities in view of the cost-benefit ratios when the markets soars. Growing firms are engaged in developing competitive strategies and innovative differentiations in staying sustainable and competitive in the global marketplace. In order to gain competitive advantages, companies explore innovative business projects to enter the new market segments with first-mover advantages. ...

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