Technical and management notes

In a dynamic and unpredictable environment, a firm may increase its chances of survival by improving its ability to respond quickly to changes in the environment. The firm´s strategic posture toward innovation is a key factor that affects the quickness and appropriateness of the response function. Integrating Thompson´s definition of innovation and the concept of cost-benefit-risk profiles, a framework for defining a firm´s strategic posture toward innovation is suggested.