School of Industrial Management, Korea University of Technology and Education (KOREATECH), 1600 Chungjeol-ro, Byeongjeol-ro, Cheonan City, South Korea
Currently, the issue of the company’s innovative development is relevant in all areas of activity. Railway transport, which has one of the development vectors such as an innovative component, poses for itself the task of achieving high competitiveness through active innovative developments and implementations. This direction is influenced by external and internal factors, which should be taken into account while developing and implementing the company's innovative development strategy.
Nowadays, there is increase in the development of global competition and in the transfer of innovations in all areas of service industries, including the railway sector. In recent years, the countries of the Asian region have adopted a strategy for developing the competitiveness of the transport sector through innovative development and the transfer of technology.
The study aims at investigating environmental factors which influence innovative development of transport company and evaluating their interdependence using correlation-regression analysis.
The correlation-regression analysis and comparative approach were used to develop the model.
Two Rail corporations from Asian region were investigated. External and internal factors influencing innovative development of these corporations were found; significant in explaining the factors’ interdependence was discussed.
Different groups of factors influence innovative development of transport companies in Asia. These findings can be used as information for managers to develop strategic programs to improve innovative development process in Asian transport companies.
Keywords: Innovative development, Railway transport, Correlation-regression analysis, External and internal environmental factors, Modeling, Innovation, Asian region.
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