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Innovation is production or adoption, assimilation, and exploitation of a value-added novelty in economic and social spheres; renewal and enlargement of products, services, and markets; development of new methods of production; and the establishment of new management systems. It is both a process and an outcome.
Technological innovation: is a continuous process, within an internal or external venture, build-out to create value with innovation; starts with the ideation process and ends up with the commercialization of a viable product or service, in response to a proven market need; is a guide for the venture management to decide what technology ...
Technology is the application of conceptual knowledge to achieve practical goals, especially in a reproducible way. [1] The word technology can also mean the products resulting from such efforts, [2] [3] including both tangible tools such as utensils or machines, and intangible ones such as software.
Linear model of innovation. The Linear Model of Innovation was an early model designed to understand the relationship of science and technology that begins with basic research that flows into applied research, development and diffusion [ 1] It posits scientific research as the basis of innovation which eventually leads to economic growth.
In business theory, disruptive innovation is innovation that creates a new market and value network or enters at the bottom of an existing market and eventually displaces established market-leading firms, products, and alliances. [ 1] The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his ...
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Science, technology, engineering, and mathematics ( STEM) is an umbrella term used to group together the distinct but related technical disciplines of science, technology, engineering, and mathematics. The term is typically used in the context of education policy or curriculum choices in schools. It has implications for workforce development ...
A communications artifact (Rugby Aerial Tuning Inductor) at the Science Museum, London, UK . Science and technology studies (STS) or science, technology, and society is an interdisciplinary field that examines the creation, development, and consequences of science and technology in their historical, cultural, and social contexts.