This paper tries to clarify how to manage the innovation process so that a company can build up a continuous competitive advantage. There are three aspects to this issue: 1) how a company can manage not only one but two or more innovation processes; 2) how a company with a complex business structure demonstrates its organizational capability and promotes organizational learning in order to create continuous innovation; and 3) the role of senior and middle managers in committing to the innovation process. This paper focuses in particular on the relationship between the new projects for innovation and the existing businesses of a company. I presume that when a company develops new businesses or products, the new projects for innovation will have some type of relationship with its existing businesses. This is because firm-specific resources and organizational capability, which are the source of innovation, and continuous competitive advantage is the fruit that the company has attained through the operation of its existing businesses. Using this perspective, this paper discusses the innovation process of a company, both theoretically and empirically.
