Innovation is a key for the growth, productivity, competitiveness, survival, and profitability in the today’s competitive world. This paper examines the relevant aspects of literature on invention and innovation concepts, including characteristics of innovation, types of innovation, diffusion of innovation, innovation process, types of innovators, importance of innovation, tools and techniques ...

in knowledge-based economy, knowledge has a public good and non-rivalry nature. firms build their own knowledge stock not only by means of internal r&d and collaboration with partners, but also by means of previously spilled over knowledge of other firms and public research laboratories (such as universities). firms based on their absorptive capacity, and level of intra-industry and extra-i...

Innovation became important years ago when people became interested in the dynamic underlying economic development and growth. And innovation has been intimately intertwined with entrepreneurship. Joseph Schumpeter, writing in the early 20 C, argued that innovation is central to economic development; he regarded entrepreneurs as innovators engaged in a process of creative destruction, destroyin...

Open innovation appears now as an effective strategy to provide organizations with access to a wider range of ideas in the worldwide market of ideas, thus reduc-ing the costs associated with R&D. In the context of open innovation, the concepts of both community and network have been introduced to describe the Solvers (creative people and organizations that propose solutions), the Seekers (organ...

Open innovation and absorptive capacity are two popular concepts in contemporary innovation management literature. To our knowledge, they never have been connected to each other in a systematic way although it is straightforward that firms' absorptive capacity, as it has been defined by Cohen and Levinthal (1990), determines their ability to in-source externally developed technology or ideas. I...

Innovation theory has by many authors been found lacking in cumulativeness and consistency. In this paper it is argued that this is due to an over reliance on abstract concepts to the detriment of a better appreciation of practice. As concepts and nomothetic epistemology fail to capture essential aspects of innovation practice an alternative is introduced, which instead embraces the particulari...

The open, flexible affordances of pervasive digital technologies have fundamentally altered the nature of organisational innovation. In the extreme, these technologies become platforms for digitally enacted organisational innovation. At its core, innovation is a process of creating and using new ideas and concepts. In the digital realm innovation becomes a process of enacted knowledge creation....