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It has been argued that knowledge entrepreneurship is a suitable form of entrepreneurship for not-for-profit educators, researchers and educational institutions. While generating economic value is important, knowledge entrepreneurship often aims to address social challenges and contribute to positive societal change. [2]
Innovation economists believe that what primarily drives economic growth in today's knowledge-based economy is not capital accumulation as neoclassical economics asserts, but innovative capacity spurred by appropriable knowledge and technological externalities. Economic growth in innovation economics is the end-product of: [5] [6]
This is a more descriptive concept than a specific industry: the information creates value for different stakeholders. Typical knowledge-intensive services activities features are, that information plays a significant role in the production of services and that the services are based on professional competence.
Other ways of measuring innovation have traditionally been expenditure, for example, investment in R&D (Research and Development) as percentage of GNP (Gross National Product). Whether this is a good measurement of innovation has been widely discussed and the Oslo Manual has incorporated some of the critique against earlier methods of measuring.
Indeed, as innovation is increasingly based on scientific knowledge, the role of universities as creators of knowledge is more valued. [17] As a result, he argues that university, industry and government are more equal, [ 5 ] and that no particular element is necessarily the driving force of the triple helix model of innovation.
Walmart's Great Value line of products spans hundreds of goods. This includes things like pasta, frozen meals, peanut butter, bread, desserts and canned goods. It even includes nonperishables like...
The concept of a technological innovation system was introduced as part of a wider theoretical school, called the innovation system approach. The central idea behind this approach is that determinants of technological change are not (only) to be found in individual firms or in research institutes, but (also) in a broad societal structure in which firms, as well as knowledge institutes, are ...
While there are different dimensions to consider whether it is a product innovation rather than e.g. a technology or business model innovation, it is not always possible to clearly differentiate one from the other. For example, compared to a business model innovation, a product innovation often has: [21] Lower strategic importance