Innovation via Global Route: Proposing a Reference Model for Chances and Challenges of Global Innovation Activities

Innovations have acquired a key-role in the growth and competition strategies of firms today.They are regarded as an essential tool to stimulate growth and enable firms to master thecompetition brought about by the forces of globalization. In developed countries they arethought to provide a vital buffer against challenges from low-cost producers from emergingcountries.At the same time, innovations in today’s “globalized” world are hardly feasible in isolation.World-wide economic reforms and far-reaching technological advancements have brought tofore new economic powerhouses, such as China and India, which possess strong scientificcapabilities. Products are marketed internationally...