**4. Conclusions**

In this chapter, we pointed out that innovation is complex, and many firms fail at innovation; we outlined the different types of innovation from technological innovation, which included product, architectural, and non-technological innovation, which includes process, organizational, marketing and service innovation. It was highlighted that the different types of innovation all contribute to a firm's competitive advantage. It was also demonstrated that there is synergy between the different types of innovation and that they are complementary to each other and not mutually exclusive. It was also pointed out that firms should not rely solely on product innovation (NPD) alone for competitive advantages, as the other innovation types also provide opportunities for creating competitive advantages.

We also highlighted that innovations, whether technological or non-technological, must meet market needs and be value-adding, and, at the same time, it should be timeous so firms can develop competitive advantages.

The importance of innovating through collaboration was also highlighted as necessary. Innovation is not idiosyncratic but open, as firms should collaborate with other firms and other entities to foster innovation. Often innovation does not occur in isolation; it is part of the firm's wider environment. Firms evolve and grow in the broader system; it is about the firm's OEE. OEE is about how the firm co-exists with the broader environment.

It was also emphasized that product innovation (NPD) is only half of the PLC, and the second half can be exploited through architectural, process, organizational, marketing and service innovation. The importance of understanding the PLC and diffusion curve was highlighted so firms can leverage the different categories in the diffusion curve to take products to market.
