Innovation is one of the core competencies of today’s business world. Those
companies that embrace it are more likely to excel in the ever-increasing competitive
business environment; those that are indifferent to it may gradually lose their ground
while competitors come to surpass them. This study disclosed the actual innovation
operations in a fast growing and SME-dominated economy. Hopefully, the finding that
the underemphasized non-technology innovations are even more crucial may draw
companies’ attention to reap the real benefits of innovation.