Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence
In this article, we demonstrate that contemporary financial reporting systems have the capacity to contribute significantly to the generation of innovation-relevant competitive intelligence. This potential arises because, as part of its regular work, the financial reporting system compiles, collects...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2021-04-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2199-8531/7/2/117 |
| _version_ | 1797428989167403008 |
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| author | Vincent O’Connell Naser AbuGhazaleh Garvan Whelan |
| author_facet | Vincent O’Connell Naser AbuGhazaleh Garvan Whelan |
| author_sort | Vincent O’Connell |
| collection | DOAJ |
| description | In this article, we demonstrate that contemporary financial reporting systems have the capacity to contribute significantly to the generation of innovation-relevant competitive intelligence. This potential arises because, as part of its regular work, the financial reporting system compiles, collects, analyzes, and synthesizes strategically relevant information about (i) complex internal technical processes related to inventions, discoveries, product development, process innovations, and the like; (ii) detailed sales, cost, and profit forecasts; (iii) consumer trends and innovative developments in the firm’s markets; (iv) actual and potential competitor actions in the market; and (v) regulatory changes, macro-economic trends, and information about the likely impact of government policies. We argue that this competitive intelligence can, if properly harnessed, lead to better informed discourses and decisions around innovation. Consequently, we highlight the potential—from both academic research and practical perspectives—of financial reporting as an enabler of innovation-relevant competitive intelligence embeddedness within firms. |
| first_indexed | 2024-03-09T09:06:42Z |
| format | Article |
| id | doaj.art-0e978831131845c88387529fd8c1a899 |
| institution | Directory Open Access Journal |
| issn | 2199-8531 |
| language | English |
| last_indexed | 2024-03-09T09:06:42Z |
| publishDate | 2021-04-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj.art-0e978831131845c88387529fd8c1a8992023-12-02T10:02:06ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312021-04-01711711710.3390/joitmc7020117Financial Reporting as a Source of Innovation-Relevant Competitive IntelligenceVincent O’Connell0Naser AbuGhazaleh1Garvan Whelan2Department of Accounting and MIS, Gulf University for Science and Technology, P.O. Box 7207, Hawally 32093, KuwaitDepartment of Accounting and MIS, Gulf University for Science and Technology, P.O. Box 7207, Hawally 32093, KuwaitDepartment of Accounting and MIS, Gulf University for Science and Technology, P.O. Box 7207, Hawally 32093, KuwaitIn this article, we demonstrate that contemporary financial reporting systems have the capacity to contribute significantly to the generation of innovation-relevant competitive intelligence. This potential arises because, as part of its regular work, the financial reporting system compiles, collects, analyzes, and synthesizes strategically relevant information about (i) complex internal technical processes related to inventions, discoveries, product development, process innovations, and the like; (ii) detailed sales, cost, and profit forecasts; (iii) consumer trends and innovative developments in the firm’s markets; (iv) actual and potential competitor actions in the market; and (v) regulatory changes, macro-economic trends, and information about the likely impact of government policies. We argue that this competitive intelligence can, if properly harnessed, lead to better informed discourses and decisions around innovation. Consequently, we highlight the potential—from both academic research and practical perspectives—of financial reporting as an enabler of innovation-relevant competitive intelligence embeddedness within firms.https://www.mdpi.com/2199-8531/7/2/117innovationcompetitive intelligencefinancial reportingcase examples |
| spellingShingle | Vincent O’Connell Naser AbuGhazaleh Garvan Whelan Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence Journal of Open Innovation: Technology, Market and Complexity innovation competitive intelligence financial reporting case examples |
| title | Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence |
| title_full | Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence |
| title_fullStr | Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence |
| title_full_unstemmed | Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence |
| title_short | Financial Reporting as a Source of Innovation-Relevant Competitive Intelligence |
| title_sort | financial reporting as a source of innovation relevant competitive intelligence |
| topic | innovation competitive intelligence financial reporting case examples |
| url | https://www.mdpi.com/2199-8531/7/2/117 |
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