Summary The Economics of Innovation An Introduction

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ISBN-10 1781007748 ISBN-13 9781781007747
208 Flashcards & Notes
2 Students
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This is the summary of the book "The Economics of Innovation An Introduction". The author(s) of the book is/are G M P Swann. The ISBN of the book is 9781781007747 or 1781007748. This summary is written by students who study efficient with the Study Tool of Study Smart With Chris.

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Summary - The Economics of Innovation An Introduction

  • 3.1 main links in the linear model

  • Give the stages of the linear model
    Research&creativity>> invention>>design and development>> innovation
  • Describe innovation
    The succesfull exploitation of new ideas
  • What is the difference between innovation and invention
    Invention is about generation oc new ideas and innovation is the commercial application of invention
  • Describe design
    Design adds the extra dimension to the product
  • What is the difference between innovation and techonological change
    Innovation is wider than only technical
  • 3.2 different forms of innovation

  • Describe pure process innovation
    It simply changes the way in which a product is made, without changing the product itself
  • Describe a pure product innovation
    It creates a new or improved product for sale without any change in the production process
  • Describe innovative pricing
    It is a new way of charging for a product or service. It is commonly used by mobile Phone operators
  • Describe incremental innovation
    It describes the steady stream of improvements to a particular product or process which do not change the character of that product in any fundamental way
  • Describe radical innovation
    It describes improvements that fundamentally alter the character of a product or process
  • Describe architectual innovation
    It refers to a fundamental change in the way that certain components are pieced together to make a system while the basic components themselves little changed
  • 3.3 protetecting invention

  • What are two ways to protect your innovation
    Patent and keep it secret
  • How can you protect intelectual property
    Compexity
  • 3.4 two different theories of creativity

  • What are the two theories of creativity
    Autonomy: in this state the creative mind neither knows or cares what her critics may say
    combinatorial theory: creativity calls for an ability to bring together habitually incompatible ideas and combine them in a way that gives deep new insights
  • 3.5 two different views of the consumer

  • Describe the views of the consumer
    Passive consumer: a creature of habit, who likes the familiar and does not like change. Resistant to any form of innovation

    active consumer: is an explorer what she can do with new products, even if she doesnt really need them  

    conventional consumer: she has fixed, pre-determined needs and is only intrested in innovation to the extent that process innovations reduce prices
  • 3.6 measuring innovation

  • What are ways to measure innovation
    Describe innovation in detail
    count innovation
    questionare of innovative companies
    count number of patents issued
    measure companies R&D expenditures
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