Environment for innovation: Gaining competitive advantage

Research has found that commitment to innovation is a key to success and in a long run can be helpful in earning a competitive advantage for the firm. However, itʹs not that easy to buy it out because of the confrontational environment that is around and the many internal and external forces that influence positively and negatively and more then that there is a level of uncertainty in innovation and some degree of risk with a gap of its understanding and its actual implementation. The paper talks about a scenario that Michael porter and Stern (2001) has discussed with support of academic literature on the extinct to which the internal and external factors have their influence on the journey innovation to competitive advantage.