Mastering innovation in the manufacturing sector: Combining elements of technological innovation to enhance financial performance

Abstract

Purpose

This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

This research paper concentrates on understanding the types of innovation that can boost the profit margins of manufacturing companies in Spain. Digital service innovation can be a welcome factor that meshes with product innovation and process innovation, to enhance profits within defined manufacturing sub-sectors – namely computer manufacturing and machinery manufacturing. These processes should be introduced and pursued simultaneously, as an essential condition for producing positive effects on profitability. In other sub-sectors, the digital service innovation isn't required, since this merely adds a neutral impact to the profit-driving effects of the effective duo of process innovation and product innovation.

Originality/value

The briefing saves busy executives, strategists and researchers’ hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Citation

(2022), "Mastering innovation in the manufacturing sector: Combining elements of technological innovation to enhance financial performance", Strategic Direction, Vol. 38 No. 3, pp. 30-32. https://doi.org/10.1108/SD-12-2021-0166