THE IMPACT OF EXTERNAL KNOWLEDGE ACQUISITION ON INNOVATION OUTCOMES IN TECH COMPANIES

Abstract

In today's globalized and highly competitive business environment, innovation is a driving force for economic growth and the lifeblood of enterprises. This holds especially true for technology-based companies facing complex market dynamics and escalating research costs. Navigating this environment requires timely access to external knowledge and resources to support innovation initiatives and overcome potential challenges. This paper explores the concept of knowledge search from three distinct perspectives. Firstly, it entails organizations proactively seeking, identifying, and assimilating knowledge from external sources and diverse industries within an open environment. Secondly, it aligns with a learning-oriented view, viewing search as an inherent learning process aiding enterprises in developing new markets, technologies, and management insights to effectively respond to evolving environmental dynamics. Thirdly, knowledge search is seen as a narrow process focused solely on knowledge acquisition, without considering subsequent stages such as fusion and application. By examining these perspectives, this study sheds light on the multifaceted nature of knowledge search and its critical role in fostering innovation and ensuring enterprise sustainability in the contemporary business landscape.