In this chapter we look at the difference between invention, innovation and diffusion as well as the concept of creative destruction according to Schumpeter.
We then dive into Utterback’s “dynamics of innovation” and explore the typical sequence of product and process innovation as well as the crucially important effect of the “dominant design” on the structure and success factors of any given industry.
Presented by Dr. Guenther Dobrauz-Saldapenna
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