Development of innovations in successful companies (Dirección de miembro de semillero de investigación)

Student thesis: Master's Thesis

Abstract

The COVID-19 pandemic has completely revolutionized the world; we saw how the entire world can change in an instant. We recently experienced a pandemic where we saw how our economies and societies experience severe crisis. We all had to reinvent ourselves and change our way of thinking. As a result of this historical fact, a great interest was born in knowing how innovations and strategic decisions are developed in successful companies during a crisis of this size, however, there is not much information on the subject. This research seeks to answer the Question: How is the process of developing innovations in times of crisis? We will focus on the innovation process and people involved during the decisions. To answer this question, we use a methodology based on a multiple case study that consists of several steps: 1) identify the companies; 2) select the companies; 3) collect the information through interviews, and 4) analyze the information. 20 Colombian companies were selected. The results show that, first, the most important strategic decisions revolve around the change in technology, where the key factor is the crisis committee that several companies have and should have, in addition to having a team in charge of the innovations of each company together with a stipulated follow-up so that innovation is always present and more so in times of crisis. Second, the interviewees stated that their innovation committee met monthly to compare and give results and aspects of improvement in each process and decision making. Third, the immersion in digitization and technological change in companies, the more immersed the companies are in this process, the greater the success. This research is important because: it will allow us to venture into better innovations in the future in the context of crisis, it will make it easier for us to understand the decision-making process in companies in times of crisis, and it could help us understand the process of how companies they make innovative decisions to face the crisis.
Date of AwardApr 13 2023
Original languageEnglish (US)
SupervisorJose Orlando Montes De La Barrera (Tutor)

Keywords

  • Innovation
  • Strategic decision
  • Process

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