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Gordon's (2013) analysis of productivity in the U.S. gives two possible surges in growth, one during 1891–1972 and the second in 1996–2004 due to the acceleration in Moore's law-related technological innovation. [132] Improvements in productivity affected the relative sizes of various economic sectors by reducing prices and employment.
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 ...
Technological change (TC) or technological development is the overall process of invention, innovation and diffusion of technology or processes. [1] [2] In essence, technological change covers the invention of technologies (including processes) and their commercialization or release as open source via research and development (producing emerging technologies), the continual improvement of ...
Leapfrogging is a concept used in many domains of the economics and business fields, and was originally developed in the area of industrial organization and economic growth. The main idea behind the concept of leapfrogging is that small and incremental innovations lead a dominant firm to stay ahead.
Technological Innovation however focuses on the technological aspects of a product or service rather than covering the entire organization business model. It is important to clarify that Innovation is not only driven by technology , but can also be driven by various other factors, including market demand , social and environmental factors , and ...
An example of investment-specific technological progress is the microwave oven. The first microwave oven cost between $2000 and $3000 US and was housed in refrigerator-sized cabinets. Through regular technological investment the microwave industry has developed into a competitive market, with small compact units in many households. [7]
To chart the factors that are involved and create synergy between them, new business development draws heavily upon the fields of technology and business networks. The new business development process is to recognize chances and opportunities in a fast changing technological environment.
Technology Intelligence (TI) is an activity that enables companies to identify the technological opportunities and threats that could affect the future growth and survival of their business. It aims to capture and disseminate the technological information needed for strategic planning and decision making.