At the beginning 20th century Schumpeter (1934) identified innovation as expression of entrepreneurial spirit, the reason for economic growth, and business activity. Thus, he articulated the value creation potential of innovations (Schumpeter, 1934). This is supported by a number of studies that show that successful companies derive up to 80% of their turnover with products younger than five years, thus placing increased emphasis on innovation (Cooper/Kleinschmidt, 1995; Kim/Mauborgne, 2004). Along with shifting the value chain towards low-wage countries and rationalisation, innovation is considered a core driver of business growth.


Service Ecosystem Service Development Service Innovation Network Innovation Design Artefact 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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© Gabler Verlag | Springer Fachmedien Wiesbaden GmbH 2011

Authors and Affiliations

  • Christoph Riedl

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