Summary The Economics of Innovation An Introduction Book cover image

Summary The Economics of Innovation An Introduction

- G M P Swann
ISBN-10 1781007748 ISBN-13 9781781007747
208 Flashcards & Notes
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A snapshot of the summary - The Economics of Innovation An Introduction Author: G M P Swann ISBN: 9781781007747

  • 3 chapter 3: basic concepts

  • 3.1 main links in the linear model

  • What is the difference between innovation and invention
    Invention is about generation oc new ideas and innovation is the commercial application of invention
  • 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 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
  • 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
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