Impact of Innovation on Business Performance in Food Processing Companies

Many studies of the innovations are made in the foreign countries in the manufacturing industries especially in food processing industry. In India it is very important to focus on the innovation activities of food processing industry and governmental support to this industry. The past research studies shows main focus of research in food processing industry is on its size, patterns of ownership, strengths and weaknesses, technological development, agriculture waste etc. Some researchers tries to concentrate on innovative factors of this industry but only technological innovation studies are done. This book is based on a study that tries to understand the impact of innovation in the food processing industry and to help to the manufacturing industry, government and agriculture industry to frame the policies this study is done.

The book deals with the following objectives: (1) To find out the drivers of product innovation in food processing companies, (2) To study the barriers of product innovation in food processing companies, (3) To study the impact of product innovation on performance of food processing companies (financial performance and market share), (4) To provide suggestions to concerned business organizations and government authority.

The author's interest is in knowing the impact of innovation on financial performance and market share of food processing companies. The interest group is board of director, top level management or chairman, managing director of the companies.

Innovations are of different type like product innovation, process innovation, organizational innovation, market innovation. The author concentrated only on product innovation

There are many factors which are working as drivers of innovation. It may be external and internal factors. Considering the limitation to uncontrollable nature of external factors, author considered only internal factor affecting on firm innovation performance as research and development, finance, employee, size of business, ownership etc.

The author considers Research and Development, Finance, Human resource (employees), size, scale, and type of the company and how they will be the drivers and barriers in different situations.