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. The term, "disruptive innovation" was popularized by the American academic Clayton Christensen and his collaborators beginning in 1995, but the concept had been previously described in Richard N. Foster's book "Innovation: The Attacker's Advantage" and in the paper Strategic Responses to Technological Threats.
Creative destruction is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations. The concept is most readily identified with the Austrian economist Joseph Schumpeter, who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle. It is also sometimes known as Schumpeter's gale. In Marxian economic theory, the concept refers more broadly to the linked processes of the accumulation and annihilation of wealth under capitalism.
Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
TRIZ is an approach that combines an organized and systematic method for problem solving with analysis and forecasting techniques derived from the study of patterns of invention in the global patent literature. The development and improvement of products and technologies in accordance with TRIZ are guided by the objective laws of technical systems evolution, forming the basis for TRIZ problem solving tools and methods. It was developed by Genrich Altshuller, a Soviet inventor, and science-fiction author, along with his colleagues, starting in 1946. In English the name is typically rendered as the theory of inventive problem solving, and occasionally goes by the English acronym TIPS.
Carlota Perez is a British-Venezuelan scholar specialized in technology and socio-economic development. She researches the concept of Techno-Economic Paradigm Shifts and the theory of great surges, a further development of Schumpeter's work on Kondratieff waves. In 2012 she was awarded the Silver Kondratieff Medal by the International N. D. Kondratieff Foundation and in 2021 she was awarded an Honorary Doctorate by Utrecht University.
User innovation refers to innovation by intermediate users or consumer users, rather than by suppliers. This is a concept closely aligned to co-design and co-creation, and has been proven to result in more innovative solutions than traditional consultation methodologies.
Open innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D. Use of the term 'open innovation' in reference to the increasing embrace of external cooperation in a complex world has been promoted in particular by Henry Chesbrough, adjunct professor and faculty director of the Center for Open Innovation of the Haas School of Business at the University of California, and Maire Tecnimont Chair of Open Innovation at Luiss.
The URBAN AND REGIONAL INNOVATION Research (URENIO) is a university lab in the Department of Urban and Regional Planning, School of Engineering at the Aristotle University of Thessaloniki. URENIO is a non-profit research organization that started its operation in 1995. URENIO is mainly involved in competitive projects from the European R&D Framework Programs (FP), the Competitiveness and Innovation Program (CIP), the territorial cooperation programs, the OECD, and the United Nations.
Frederic Michael Scherer is an American economist and expert on industrial organization. Since 2006, he continues as a professor of economics at the JFK School of Government at Harvard University.
Innovation economics is new, and growing field of economic theory and applied/experimental economics that emphasizes innovation and entrepreneurship. It comprises both the application of any type of innovations, especially technological, but not only, into economic use. In classical economics this is the application of customer new technology into economic use; but also it could refer to the field of innovation and experimental economics that refers the new economic science developments that may be considered innovative. In his 1942 book Capitalism, Socialism and Democracy, economist Joseph Schumpeter introduced the notion of an innovation economy. He argued that evolving institutions, entrepreneurs and technological changes were at the heart of economic growth. However, it is only in recent years that "innovation economy," grounded in Schumpeter's ideas, has become a mainstream concept".
Knowledge spillover is an exchange of ideas among individuals. Knowledge spillover is usually replaced by terminations of technology spillover, R&D spillover and/or spillover (economics) when the concept is specific to technology management and innovation economics. In knowledge management economics, knowledge spillovers are non-rival knowledge market costs incurred by a party not agreeing to assume the costs that has a spillover effect of stimulating technological improvements in a neighbor through one's own innovation. Such innovations often come from specialization within an industry.
Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values than simply economic ones.
The technological innovation system is a concept developed within the scientific field of innovation studies which serves to explain the nature and rate of technological change. A Technological Innovation System can be defined as ‘a dynamic network of agents interacting in a specific economic/industrial area under a particular institutional infrastructure and involved in the generation, diffusion, and utilization of technology’.
Innovation Intermediaries is a concept in innovation studies to help understand the role of firms, agencies and individuals that facilitate innovation by providing the bridging, brokering, knowledge transfer necessary to bring together the range of different organisations and knowledge needed to create successful innovation. The term open innovation intermediaries was used for this concept by Henry Chesbrough in his 2006 book as "companies that help other companies implement various facets of open innovation".
The chain-linked model or Kline model of innovation was introduced by mechanical engineer Stephen J. Kline in 1985, and further described by Kline and economist Nathan Rosenberg in 1986. The chain-linked model is an attempt to describe complexities in the innovation process. The model is regarded as Kline's most significant contribution.
Zizhu chuangxin is a term frequently used in China by the Chinese government, academics, and businesses to describe the Chinese technology-led economic transformation in the past decades.
Technological transitions (TT) can best be described as a collection of theories regarding how technological innovations occur, the driving forces behind them, and how they are incorporated into society. TT draws on a number of fields, including history of science, technology studies, and evolutionary economics. Alongside the technological advancement, TT considers wider societal changes such as "user practices, regulation, industrial networks, infrastructure, and symbolic meaning or culture". Hughes refers to the 'seamless web' where physical artifacts, organizations, scientific communities, and social practices combine. A technological transition occurs when there is a major shift in these socio-technical configurations.
Alan Pilkington is a British engineer and researcher known for his work in technology management, operations management, Manufacturing strategy and enterprise engineering. He has been a professor at the Copenhagen Business School, Hult International Business School and S P Jain School of Global Management. He is currently Professor of Technology Management at Westminster Business School in London. He is past chair of the IEEE Technology Management Council for the UK and Republic of Ireland joint chapter on engineering management.
Innovation management measurement helps companies in understanding the current status of their innovation capabilities and practices. Throughout this control areas of strength and weakness are identified and the organizations get a clue where they have to concentrate on to maximize the future success of their innovation procedures. Furthermore, the measurement of innovation assists firms in fostering an innovation culture within the organization and in spreading the awareness of the importance of innovation. It also discloses the restrictions for creativity and opportunity for innovation. Because of all these arguments it is very important to measure the degree of innovation in the company, also in comparison with other companies. On the other hand, firms have to be careful not to misapply the wrong metrics, because they could threaten innovation and influence thinking in the wrong way.
Advanced Innovation Design Approach (AIDA) is a holistic approach for enhancing the innovative and competitive capabilities of industrial companies. The name Advanced Innovation Design Approach (AIDA) was proposed in the research project "Innovation Process 4.0" run at the University of Applied Sciences Offenburg, Germany in co-operation with 10 German industrial companies in 2015–2019. AIDA can be considered as a pioneering mindset, an individually adaptable range of strong innovation techniques such as comprehensive front-end innovation process, advanced innovation methods, best tools and methods of the theory of inventive problem solving TRIZ, organisational measures for accelerating innovation, IT-solutions for Computer-Aided Innovation, and other tools for new product development, elaborated in the recent decade in the industry and academia.
