Impact of Innovation on enhancing exports of the country: A study on Norway-based firms

Abstract

Technological innovation is rapidly changing the scenario for modern trade as companies that are heterogeneous in nature are focused on implementing innovation. Various factors are becoming a part of the effort and increasing due to the market size in which the firms are operating. The efforts that are identified due to the innovation are creating a more productive environment and overturning the effect of the similar market size properly. The growth that has been seen in the firms that are situated in Norway is highly sustained and dependent on various factors such as the performance of innovation. Norway-based companies are highly focused on implementing new technology that is based on determining innovation. On the other hand, the key elements that have been discussed during the process are highly dependent on various factors. The results that have been presented in the research have properly provided a clear idea that there is a direct relation between innovation and exports. The implementation of the innovation strategy helps in the development of an element that reduces the challenges related to managing the related expenses. The influence that has been created due to the changing nature of the private research and development expenditure which is ascertained for the development process may aid in enhancing the level of exports and boosting the competitiveness of the firms that are situated in Norway.