Introduction

Corporate innovation and corporate entrepreneurship subsume all organizational activities ensuring sustained company success. They include product development, product improvement and process refinement, all of which require considerable amounts of management commitment and company resources (see Schollhammer 1982, p. 211). Innovation in product development and improvement is one of the key factors determining the success of any corporation. The ability to innovate is of particular importance for technology based corporations who constantly need to reinvent their product portfolio to keep pace with changing customer preferences. At the same time, they must continuously innovate their processes to ensure their cost competitiveness.