Firms join innovation networks primarily to reduce their costs.

Name: Firms join innovation networks primarily to reduce their costs.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Firms join innovation networks primarily to access knowledge, resources, and expertise that they cannot easily access on their own, and to collaborate with other firms to develop better products or services. The main goal is not usually to reduce costs, but rather to increase innovation and competitiveness.

Firms Join Innovation Networks Primarily to Reduce Their Costs