Innovation Capabilities of a Firm: a Key Role of Information Exploration

Abstract

Following the logic of resource-based view and dynamic capabilities, exploration and exploitation concepts the present study addresses the concept of firm’s innovation resources and innovation capabilities. Empirical testing of measurement model conducted on the sample of 55 Russian industrial enterprises identified a set of six components of innovation capabilities: financial, technological, informational (exploration and exploitation), human and organizational. Information exploration component is found to be the most important for firm’s innovation capabilities formation, while financial component is found to be critical to form firm’s innovation resources.