The Relationship between Innovation and Competitive Advantage: A Literature Review
The Relationship between Innovation and Competitive Advantage: A Literature Review

Author(s): Denada Lica, Silvana Gashi
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Innovation; Competitive advantage; Albanian firms
Summary/Abstract: Innovation has been considered by many scholars a crucial factor in driving firms to achieve competitive advantage. Moreover, many firms decide to reconfigure their business operation to be more innovative and competitive. This paper aims to analyze the drivers and challenges firms deal with to be more innovative and to achieve competitive advantage. Albanian firms are investigated through a literature review to offer some insights regarding the relationship between innovation and competitive advantage, and to understand the drivers and challenges of being innovative firms. Results indicate that innovative Albanian firms are more likely to achieve competitive advantage than others that do not engage in innovation. This study contributes considerably to enlarging the literature on innovation and competitive advantage.

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