essential tool to stimulate growth and enable firms to master the competition brought about by the forces of globalization. In … reforms and far-reaching technological advancements have brought to fore new economic powerhouses, such as China and India … specific needs of targeted markets. All these developments are leading to the “globalization of innovation”. Based on recent …

competition spurred by the globalization of the world economies. Even small and medium-sized enterprises (SMEs) are no more immune … to the challenges that the globalization brings about. It is a remarkable, and in certain instances worrisome, situation … employment.However, opportunities presented by the globalization and the entwined, simultaneous pressure to innovate opens for …