Innovation is the introduction of new ideas, goods, services, and practices. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al). Economic planners now tout innovation as the route to technological fixes to the crises of capitalism (for instance, achieving environmental sustainability and cleaning up damage), and it is a central element of many policies to increase competitiveness at corporate and national levels. Diffusion of innovations theory, the way in which innovations get accepted by new groups of consumers, was pioneered by Everett Rogers, who drew from early studies by Gabriel Tarde.
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| - Innovation is the introduction of new ideas, goods, services, and practices. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al). Economic planners now tout innovation as the route to technological fixes to the crises of capitalism (for instance, achieving environmental sustainability and cleaning up damage), and it is a central element of many policies to increase competitiveness at corporate and national levels. Diffusion of innovations theory, the way in which innovations get accepted by new groups of consumers, was pioneered by Everett Rogers, who drew from early studies by Gabriel Tarde.
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| - Innovation is the introduction of new ideas, goods, services, and practices. An essential element for innovation is its application in a commercially successful way. Innovation has punctuated and changed human history (consider the development of electricity, steam engines, motor vehicles, et al). Economic planners now tout innovation as the route to technological fixes to the crises of capitalism (for instance, achieving environmental sustainability and cleaning up damage), and it is a central element of many policies to increase competitiveness at corporate and national levels. Diffusion of innovations theory, the way in which innovations get accepted by new groups of consumers, was pioneered by Everett Rogers, who drew from early studies by Gabriel Tarde. Whether innovation is mainly supply-pushed (based on new technological possibilities) or demand-led (based on social needs and market requirements) has been a hotly-debated topic. One point of view is that "recognition of demand is a more frequent factor in successful innovation than recognition of technical potential." (Marquis 1969)
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