Difference between revisions of "Innovation"
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==Experts:== | ==Experts:== | ||
Peter Drucker, "Innovation is the specific instrument of entrepreneurship... the act that endows resources with a new capacity to create wealth." (Innovation and Entrepreneurship, 1985) <br> | [1] Peter Drucker, "Innovation is the specific instrument of entrepreneurship... the act that endows resources with a new capacity to create wealth." (Innovation and Entrepreneurship, 1985) <br> | ||
[2] Joseph Schumpeter defined economic innovation in "Theorie der Wirtschaftlichen Entwicklung" (1912). (The Theory of Economic Development, 1934, Harvard University Press, Boston.) | |||
2.The introduction of a new method of production, which need by no means be founded upon a discovery scientifically new, and can also exist in a new way of handling a commodity commercially. | |||
3.The opening of a new market, that is a market into which the particular branch of manufacture of the country in question has not previously entered, whether or not this market has existed before. | |||
4.The conquest of a new source of supply of raw materials or half-manufactured goods, again irrespective of whether this source already exists or whether it has first to be created. | |||
5.The carrying out of the new organization of any industry, like the creation of a monopoly position (for example through trustification) or the breaking up of a monopoly position >br> | |||
==Timing:== | ==Timing:== | ||