Cognition of industrial innovation in Latin America: Advances and challenges

Levels and technological advances that lead society to a more efficient use of productive resources and transform new ideas into viable solutions through products and services, with the development of the new technological revolution, innovation as a new idea or approach applied in new ways to create value for the organization and other stakeholders. The value of innovation requires internal technological capabilities and ability to develop knowledge. Organizations in Latin America have focused mainly on getting the source of innovation exclusively on investments in R & D. This article describes the process of how you can't always see the results of empirical and consistent work, compared to the non-existent significance of innovation to productivity. Innovation depends heavily on the perception of the risks and opportunities of people, involves taking as many risks, from the scanning process and uncertain outcomes, innovative entrepreneurs should be more risk prone than others. But, as it is based on much research, employers are not willing to take more risks than others, interpreting the information in a more positive way, "the perception of weaker strengths" and the discussion that arises businesses are very far from the technological frontier by weak incentives.