Firm-Level Innovation Models

This paper provides a critical review of firm-level innovation models. The paper summaries different categories of innovation model and identifies their achievements. One of the chief contributions models is that many countries go substantially into the management of innovation and the decision-making processes within the firm. However, in general, there is a lack of empirical evidence to verify existing models, weak theoretical underpinnings, This article looks at various models of innovation processes as well as at diffusion of innovation models. It summarizes current theories on both managing innovation processes and creating innovative organizations.