If there is a popularity award for a word that captures the imagination of academia, politicians, media and businesses alike, one strong contender that stands out is the word “innovation”. Coupled with “entrepreneurship”, it holds the promise of unlocking the gates to the opening of new markets, enhanced firm efficiency and economic growth.


Product Innovation Social Entrepreneurship Incremental Innovation Firm Efficiency Early Majority 


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  1. 1.
    See Cooper (2001).Google Scholar
  2. 2.
    See Schumpeter (1939).Google Scholar
  3. 3.
    However some authors believe that Drucker did not necessarily view the two as the same. J. Gregory Dees writing in The Meaning of Social Entrepreneurship noted that: “For Drucker, starting a business is neither necessary nor sufficient for entrepreneurship. He explicitly comments. Not every new small business is entrepreneurial or represents entrepreneurship. He cites the example of a husband and wife who open another delicatessen store or another Mexican restaurant in the American suburb as a case in point. There is nothing especially innovative or change-oriented in this.”Google Scholar
  4. 4.
    See Drucker (1993).Google Scholar
  5. 5.
    Schacht (2000).Google Scholar
  6. 7.
    See Jaruzelski et al. (2006).Google Scholar
  7. 8.
    See, in example, Henderson and Clark (1990), Tushman et al. (1997), Chandy and Tellis (1998) and Leifer et al. (2000).Google Scholar
  8. 9.
    See Henderson and Clark (1990).Google Scholar

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