Abstract

As the life cycle of technology shortens and the market becomes uncertain due to the acceleration of technology convergence, more and more companies are experiencing innovation failures. If a company experiences failure, it has a significant impact on its business performance, which is why companies that have experienced innovation failures are reluctant to engage in further innovation activities. Since technological innovation is not the opposite of success, securing the success factors of innovation does not reduce failure. Therefore, while it is important to encourage innovation, it is also necessary to eliminate the factors that cause failure. Therefore, this study aims to identify the factors that cause innovation failure in companies from a long-term perspective and to derive strategic factors that can overcome failure, thereby clarifying the connection with performance.