Considers the development of the culture of innovation and how the concept can be beneficial in business. Examines the application of marketing innovation (new products) and technological innovation which is not market driven. Illustrates the growth of innovative products through “S” curves and Product‐Life Cycles. Concludes that innovation needs to be encouraged by managers, albeit within a controlled framework that maximizes the inherent benefits, flexibility and emphasis on the need for change being central to the successful implementation of such a programme.
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