Introduction - Key Themes, Concepts, and Definitions in the Study of Innovation
3 important questions on Introduction - Key Themes, Concepts, and Definitions in the Study of Innovation
What is the distinction between incremental and radical innovation?
A radical innovation text-decorationreplaces existing innovations through the development and adoption of new technology to deliver new and improved functionality and performance (e.g. steam power replacing water power). An incremental innovation provides text-decorationminor and major improvements in functionality and performance to an existing innovation. It can also be viewed as the evolutionary development of a radical innovation (e.g. the technological process of the semiconductor).
What is the distinction between component and architectural innovation?
Architectural innovation changes the way in which the different components are linked together, whilst leaving the core design concepts of the components intact. Component innovation is a new physical distinct portion (= component) of the product that embodies a core design concept and performs a well-defined function.
What is the difference between data, information and knowledge?
Data are raw, unconnected pieces of information. Together, the whole represents information. When this information is analyzed in a broader context and with the benefit of personal experience, this value-added information becomes knowledge.
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