Innovation and Markets: The Known Paths
Studying innovation is much like the ancient parable about a group of blind men each touching a different part of an elephant and each satisfied that they understood the true nature of the animal. Innovation literature is vast, both in its scope and depth, with different authors choosing the prudent path of focusing on certain aspects of innovation. The outcome of such focus depends on who the actor is and what the focus is on.
KeywordsInnovation Process Product Life Cycle Service Innovation Marginal Cost Price Incumbent Firm
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