Competitive intelligence as a factor of the innovation capability in Mexican companies: A structural equations modeling approach
DOI:
https://doi.org/10.37380/jisib.v11i2.705Keywords:
Competitive intelligence, innovation capability, structural equations modelingAbstract
In today's world markets, where rivalry is increasingly intense, companies face pressure to deliver better results in a shorter time. The continual technological change produces more efficient equipment, processes and products, new business relationships due to emerging and unexpected substitute products, as well as changing consumer preferences. In this constantly changing environment, companies need useful information to develop strategies, make decisions and implement them throughout the organization to increase their competitiveness and market share. This is not easy or straightforward, it begins at the company's strategy level and ends with the creation, development, and deployment of the technological capabilities necessary to provide agile and flexible responses to customers, market situations, and technological changes. The innovation capability of companies plays an important role, as it is a critical strength, technology-based and strategic in nature, with the purpose of creating and developing new products and improved processes. This is a continuous source of competitive advantage, and a necessary element for companies that operate in highly competitive environments and under growing rivalry, in order to improve technological innovations and developments. This information is essential for decision-making and one way to generate it is through methodologies, among which competitive intelligence stands out. This article presents an investigation using a structural equation modeling methodology to evaluate the relationships between competitive intelligence and innovation capability of Mexican companies. The empirical results show that competitive intelligence has an important indirect impact on three main functions of innovation capability: creation of new concepts, innovation and technological development, and development/improvement of ideas for products, processes, and equipment. The indirect effect is through knowledge management as a mediating factor.
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