The three dimensions of innovation in local development systems, based on the Stra.Tech.Man approach

Abstract

Innovation, as a concept, comprises a wide range of ideas and approaches. According
to Damanpour (2016), innovation is consisted by all the scientific, technical,
commercial and financial steps that are required to achieve new or improved
processed products through successful development and marketing, the
implementation of new or improved processes or equipment, or the introduction of a
new approach to social services.

Through the adoption of a conceptual research methodology for the review of the
bibliography, in this article, innovation is conceived from the point of view of
Strategy, Technology and Management within the bounds of a business. Contrary to
most scientific studies that perceive innovation in terms of either strategy, technology
and management, in this paper the main research question is encompassed on how
Strategy, Technology and Management (Stra.Tech.Man) innovation will be
incorporated in an organisation by interactively transforming one another. (Vlados,
2017; Vlados & Katimertzopoulos, 2018).

Moreover, the strategic, technological and managerial innovation causative elements,
and the interactions between them, are examined, putting a special focus on their link
with the centralization, specialization, and formalization. In the same way, the firm
performance is viewed under the spectrum of the relationship, impact and interaction
between the above-mentioned innovative dimensions.

By examining the literature, the correlation of Strategic, Technological and
Managerial (Stra.Tech.Man) innovation into a practical context has not been
adequately researched so far. Taking into account that no other research in an
environment with common control variables between enterprises has been performed,
this article demonstrates the interconnection and interaction of Technological and
Managerial innovation in a firm, and the regional and local dimension of innovation
in underdeveloped socioeconomic systems by taking the example of Eastern
Macedonia and Thrace.