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Technological innovation is the process where an organization (or a group of people working outside a structured organization) embarks in a journey where the importance of technology as a source of innovation has been identified as a critical success factor for increased market competitiveness. [2]
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 ...
Different goals are appropriate for different products, processes, and services. According to Andrea Vaona and Mario Pianta, some example goals of innovation could stem from two different types of technological strategies: technological competitiveness and active price competitiveness.
This is a list of emerging technologies, which are in-development technical innovations that have significant potential in their applications. The criteria for this list is that the technology must: Exist in some way; purely hypothetical technologies cannot be considered emerging and should be covered in the list of hypothetical technologies ...
But then another company steps in to bring the innovation to a new market. Once the disruptive technology becomes established there, smaller-scale innovation rapidly raise the technology’s performance on attributes that mainstream customers’ value. [38] For example, the automobile was high technology with respect to the horse carriage.
Science fiction has often affected innovation and new technology by presenting creative, intriguing possibilities for technological advancement. For example, many rocketry pioneers were inspired by science fiction. [42] The documentary How William Shatner Changed the World describes a number of examples of imagined technologies that became real.