Innovation, Innovation Management, Market Innovation, Technological Innovation, Management Innovation, Strategic Management, Dynamic Capabilities, Market Capabilities, Technological Capabilities, Management Capabilities, Core Competence
This paper outlines a model of firm innovation management known as the synergic innovation management model. Building on the theory of dynamic capabilities and core competence, the paper suggest three capabilities of firms namely market, technology, management capabilities that drive firms’ innovations. The combination of these three capabilities creates a unique configuration for a firm known as the firm’s core competence that informs the firm's strategic decisions. The synergic innovation management model guides firm in the simultaneous exploration of market, technology, and management innovations required for sustainable business. The paper concludes with limitations of the model and suggestions for further research.
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