Innovation and technology

Innovation is an essential process of change that is necessary in order to maintain the development and growth of an enterprise (Drucker, 2008). Innovation is defined as the ability of an enterprises to “manage knowledge creatively in response to market-articulated demand and/or other social needs” (OECD, 1999). Innovation plays a pivotal role in economic progress by increasing enterprise competitiveness in the global market place.

Related Subject(s): Economic and Social Development