Technological innovation

The Small Business Association describes innovation as “a process that begins with invention, proceeds with the development of the invention and results in the introduction of a new product, process or services to the marketplace” (Acs & Audretsch, 1988). We all play a role in the world’s economic activities. We consume goods and services and often times we have brand preferences based on our affinities and experiences. While many of us enjoy the brands of some of the most prominent companies around

INTRODUCTION Companies face critical challenges when making strategic choices in new product development. Many organizations aim to remain competitive through innovation, while others opt for strategies of imitation. This paper will focus on the benefits of imitation over innovation as an effective product development strategy. STRATEGIC TYPES According to Robinson (2002), there are three strategic types in product development: 1. Market Pioneers (innovator): Pioneering involves the first to innovate

customer service or warranties. Rivalry occurs when competitors sense the pressure to act on an opportunity to improve their position. The General forces that present opportunities for Johnson and Johnson are the global environment, and the technological environment. These two general environment forces present numerous opportunities for Johnson and Johnson within the pharmaceutical industry. There is an increasing trend for firms to expand their operations and market reach beyond the borders

Disruptive innovation process is for all businesses and in health care it is proved to be the most useful innovation because it helped in making healthcare available for all and affordable for all. The well design model of business administration used by big industries to cut down the cost and making the expensive technological services and goods available to mass is called "Disruptive Innovation''. This process used in health care has changed the affordability and make it accessible to all general

than it has ever been before. With the gamut of conveniences that it allows, technology has become seamlessly integrated into the social infrastructure at almost every level. There is hardly an arena in which technology is not used. While the technological prowess of modern society increases, it is important to note the potential hazards and side effects of this escalation. Among these hazards are the threats of the perpetuation of social stratification, and in effect, antiquation of the

The word progress is patent to the western culture, and it’s synonymous to the existence of the new knowledge and technological invention. The conception of progress started in the “middle age” to the Renaissance, a superlative culture (re-birth) that came to lime light in the 14th century. The aggregated perspective of science and technological progress constitute the anticipation of the eighteenth century Enlightenment, whereas substantial inclination of the nineteenth century was the Romantic

Breakthroughs May Lead to Disadvantages The rapid advancements in innovative technology have profoundly affected the way humans live, work, and play. Numerous technological breakthroughs gave way to the Internet, mobile devices, and androids in order to create a significant impact on countless individuals in the 21st century. These innovations have enabled various alterations in human interactions, particularly for society’s education system. The outcomes of innovative technology in the classrooms

well. The innovation efforts of China have been really impressive. Exclusive applications by companies in China have risen dramatically as well as investments in R&D with the number of engineering and science students increasing (Osawa, 2014). China is one of the leading nations in exports from high-tech industries and in terms of science and technology and in. The government of China puts emphasis on the critical tasks of public policies to be able to foster indigenous innovation. Innovation is when

practices that establish an organizational environment in which innovation is considered an accepted and appropriate response to organizational problems. These practices build commitment and enthusiasm by creating a shared sense a purpose and meaning in the organization. This ensures that all the firm’s technical and business skills are brought to bear to achieve its purpose. A culture that encourages creativity and creates a passion for innovation in the firm develops. Culture is an important determinant

This paper consists of literature review of previous researches conducted related to the effect of utility model on innovation and technological growth of South Korea, China, Japan, Taiwan, Australia, and Germany. I will discuss the following: how patent and utility model contributes uniquely to innovation and technological growth to countries in different economic growth phase, in terms of total factor productivity (TFP), detailed costs and benefits, and commonality of each type of intellectual