The innovation and R&D strategies of business in a globalizing world

Summary form only, as given. The global economy is increasingly being driven by innovation. Innovation and R&D are vital for the success of industries at the competitive world markets. The R&D and innovation strategies of a business in terms of technological innovation are divided generally to six fundamental groups: however these groups are not separable from each other; they should be considered as interwining fan slices or color spectrum. The most usual innovation and R&D strategies are as follows: (1) aggressive strategy; (2) defense-oriented strategy; (3) imitative strategy; (4) dependent strategy; (5) traditional strategy; and (6) strategy oriented to follow opportunities. In this paper, the innovation and R&D strategies of businesses are analyzed