Date Added: Jul 2010
The acquisition of large machinery and equipment has decreased in the western industrial markets in the last decade while the competition has increased at the global level. This shift requires western organizations to change their modes of conducting business and development activities. To gain a competitive advantage, they have to innovate and implement new service strategies. Thus, the focus of businesses is shifting away from tangibles toward intangibles such as skills, capabilities, information, and knowledge because service innovation and development processes differ from traditional product innovation processes in being more fuzzy and unpredictable.