In accordance with the same, there has been motivation of several strategic research as an attempt of identifying the impact of technology on the competitive edge of a business. Technological innovation across a number of industries is the most significant factor driving competitive edge. The key reasons for the increased significance of innovation include accelerating rates of diffusion, rapid progress of technology, globalization and deregulation for products based on technology. These factors in combination end up increasing the intensity of competition across the industrial sector (Truong, 2015). The only constant factor in several industries is changing, thereby sustainability of competitive can be accomplished only in terms of continuous innovation。
In turn, the key requirement lies in continuously introducing new services or products. The introduction of new product help organization in the creation of more value for the key customers . Simultaneously, innovations in business processes and manufacturing allow organizations for lowering their structure of cost. Therefore, innovation and technological development simultaneously works for raising the entirely created value and lowered cost needed for the creation of service or product . Thus, there is a widened margin of product and increased profitability of organizations. The continuous creation of innovation is set based upon the temporary monopolistic structure. The limit of how there can be enjoyment of competitive edge has key dependence upon the speed at which there is imitation of competitors. There is determination of engineering and technological difficulty for the innovation underlying.